Actuarial - BFSI

As an integral component of HSBC's Risk Management Framework, the purpose of Independent Model Review (IMR) is to independently validate and opine on all quantitative models used within the Bank. The function evaluates the models using both quantitative as well on qualitative parameters and provides the Group's Management, Regulators and Shareholders with the necessary assurance that the Bank's models are well controlled, fit for purpose and are applied for their intended use. This is achieved through:

- Best in class technical expertise, analysis and challenge;

- In-depth knowledge of regulatory requirements, business and market practice;

- Examination of model risk including assumptions, limitations and implications of the use of a model.

- Examples of Models that IMR currently reviews include: Global Markets Trading, Pricing & Hedging models, Regularity Stress testing models, Economic Capital models, Traded Risk, Retail and Wholesale Credit Risk, Operational Risk models, Anti Money Laundering, Stress Testing and Scenario Analysis models, Asset Liability Management models, etc.

Independent Model Review

- To work as part of the IMR function in the delivery of Model validation

- Independently review the models being assigned, fully understand the model theory, model assumption, and validate the model building, build challenger models, provide challenge on the model performance etc.

- Effectively corroborate business intuition and expertise with the theoretical framework applied/ results derived from the models.

- Develop independent challenger models to validate the model implementation correctness and identify the model shortcoming, assumptions, limitations

- Communicate the model review findings to model developer and owners. Ensure model limitations are correctly identified, understood, and managed

- Write high quality model validation reports, including conclusion, recommendation, detail analysis in model theory, formula, and testing

- Participate in model control, governance, and monitoring. Assist in reporting requirements, producing detailed updates for Model Oversight Committees, Senior Internal Stakeholder Groups and Regulators

- Work with Senior Managers across IMR to build relationships with Model Developers / Owners.

- Lead a team of junior analysts (for GCB 5+ roles) and be responsible for team management/ project management and provide guidance/coaching across multiple projects.

- Work on long term strategic team objectives like process improvement, contribution in strategic training programs, productivity enhancement etc.

What you'll do: (List out Key Responsibilities)

- Actuarial: To independently validate models in the following streams: pension/insurance and wealth management models.