Senior Manager Independent Model Review - Climate Risk

at  HSBC

Job description
Some careers open more doors than others.
If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
Our Risk and Compliance function has a critical role to play in supporting, challenging, and advising across all areas of the business through establishing policy, monitoring profiles, and identifying and managing forward-looking risk and compliance. We focus on creating an environment that encourages our people to speak up and do the right thing, as well as protecting our customers, the organisation, and the integrity of the financial markets in which we operate. Already an industry-leader in many respects, we want to continue setting standards and evolving to respond to strategic changes.
We are currently seeking an experienced individual to join the Climate Risk and ESG Model Validation team in the role of Senior Manager – Independent Model Review.
Independent Model Review (IMR) is a specialist quantitative team within the Model Risk Management sub-function. IMR are responsible for carrying out independent validations of HSBC’s new and existing business use of quantitative models, to identify and communicate model risk.

In this role, you will:

• Undertake model validation activities as dictated by the Global Model Risk Policy including the assessment of model inputs, calculations, reporting outputs, conceptual soundness of the underlying theory and the suitability of the use for its intended purpose, relevance and completeness of data, qualitative information and judgements, documentation, and implementation of the model.
• Provide written reports detailing the results of validations highlighting issues identified during the validation.
• Validate remediation activities completed by the 1LOD to ensure appropriate resolution of identified issues.
• Work with relevant stakeholders to embed new Global Model Risk Policies and Procedures.
• Provide model users, model owners, senior management, audit, and regulators (across 1LOD, 2LOD, 3LOD) with confidence that the models and tools developed, maintained, and used within the Group are compliant with internal and regulatory expectations and fit for the intended purpose.

Requirements

To be successful in this role you should meet the following requirements:

• Experience of developing and/or reviewing quantitative models throughout the model lifecycle.
• Extensive knowledge in Climate & Nature Risk modelling, in particular areas of climate change scenario models including IAMs, catastrophe modelling, impact translation framework, financed emissions, Climate VaR, and ESG ratings
• A very good understanding of regulatory/disclosure requirements including SS 3/19, ISSB S1/S2, ECB Guide, TNFD, CSRD, ESRS, PCAF and GHG Protocol.
• Experience with climate change scenario analysis obtained through regulatory/internal climate scenario exercises, e.g. PRA CBES, ECB CRST, etc.
• Experience with statistical modelling software / programming language e.g. Python, R, Matlab, SAS, C++, VBA.
• Communication Skills with the ability to present complex statistical concepts and results to non-technical audiences in a persuasive and compelling manner.

The base location for this role is Birmingham and is Hybrid working.
You’ll achieve more when you join HSBC.
Opening up a world of opportunity
Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.
We take pride in being part of the Disability Confident Scheme. This helps make sure you can be interviewed fairly if you have a disability, long term health condition, or are neurodiverse.
If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:
Email: hsbc.recruitment@hsbc.com
Telephone: +44 207 832 8500.

In this role, you will:

• Undertake model validation activities as dictated by the Global Model Risk Policy including the assessment of model inputs, calculations, reporting outputs, conceptual soundness of the underlying theory and the suitability of the use for its intended purpose, relevance and completeness of data, qualitative information and judgements, documentation, and implementation of the model.
• Provide written reports detailing the results of validations highlighting issues identified during the validation.
• Validate remediation activities completed by the 1LOD to ensure appropriate resolution of identified issues.
• Work with relevant stakeholders to embed new Global Model Risk Policies and Procedures.
• Provide model users, model owners, senior management, audit, and regulators (across 1LOD, 2LOD, 3LOD) with confidence that the models and tools developed, maintained, and used within the Group are compliant with internal and regulatory expectations and fit for the intended purpose

To be successful in this role you should meet the following requirements:

• Experience of developing and/or reviewing quantitative models throughout the model lifecycle.
• Extensive knowledge in Climate & Nature Risk modelling, in particular areas of climate change scenario models including IAMs, catastrophe modelling, impact translation framework, financed emissions, Climate VaR, and ESG ratings
• A very good understanding of regulatory/disclosure requirements including SS 3/19, ISSB S1/S2, ECB Guide, TNFD, CSRD, ESRS, PCAF and GHG Protocol.
• Experience with climate change scenario analysis obtained through regulatory/internal climate scenario exercises, e.g. PRA CBES, ECB CRST, etc.
• Experience with statistical modelling software / programming language e.g. Python, R, Matlab, SAS, C++, VBA.
• Communication Skills with the ability to present complex statistical concepts and results to non-technical audiences in a persuasive and compelling manner