Role Title: Global Markets, Head of Quants, CCR and CVA
Level: Managing Director / Director
Markets Securities Services (MSS) is working together with Global Risk to establish a quantitative analytics team in the Front-Office (FO) to cover all model analytics relating to XVA (e.g. CVA / DVA / FFVA / KVA). This role holder will lead this newly constructed team working closely with CEM (Counterparty Exposure Management), all FO asset classes, Global Risk, Product Control and other internal stakeholders.
On a BAU basis the role holder will be responsible for the following:
-Develop, implement and maintain XVA / CVA / Counterparty Credit exposure models, algorithms, monitoring framework and infrastructure to support the MSS business in the risk management and/or trading
-Support trading desks and credit officers on technical queries (trading, risk management and infrastructure)
-Ensure adequate controls over processes is adhered to line with the Bank's operational risk and model governance requirements in compliance with the regulatory requirements
-Ensure adequate quality standards and best practices are maintained for the design and evolution of product data, analytics library, documentation, model testing and on-going library maintenance and support
-Work closely with IT, Risk, Product control and other support groups on model implementation, system integration, data analytics and risk management
-Develop close and effective working relationships within respective Regions/Countries as needed
As a supervisor the jobholder will be required to comply with the Bank’s policies and procedures on effective Front Office Supervision. Specific responsibilities include but are not limited to:
-Supervisors are responsible for managing and reviewing the day to day activity on their desks
-Monitoring that the Quants’ activities and behaviours comply with all HSBC standards, policies and procedures (GSM/FIM) including legal, regulatory and exchange rules
-Ensuring that the Quants activities adhere to local regulatory policies applicable to the job holder and balance sheet location
-At a minimum, the jobholder will have to comply with Markets FIM B11.26 and Front Office Supervisory Control Policy
The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation. This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
The jobholder is responsible for managing and mitigating operational and conduct risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structures referred to as the 'Three Lines of Defence'. The job holder should understand their position within Three Lines of Defence and operate within operational risk policy, escalating in a timely manner where they are unsure.
The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
In executing these responsibilities, the job holder will be leading by example and embed a culture that demonstrates conduct values and behaviours in their day to day activities.
Certifications, Qualifications and Experience (For the Job – not the Job holder. Minimum requirements of the Job)
•Experience designing and implementing CVA quantitative models
•Proven track record of implementing an XVA / CVA trading quant infrastructure and models, preferably at a Tier 1 institution
•Track record in building and/or managing sizeable teams of quants
•Exceptional stakeholder management experience
Knowledge, Skills & Experience
•Strong knowledge of modelling across the major derivative asset classes
•Good understanding of XVA / CVA desk requirements and processes
•Good understanding of regulatory and risk modelling of counterparty risk
•Solid understanding of the technical architecture required to support CVA calculations in the context of HSBC or comparable organisations
•Ideally, experience working in both Front-Office and Risk roles
•Capacity to work with large and diverse group of stakeholders. Good communication and leadership is essential.
•Capacity to work closely with IT to deliver an industrial solution to the business front to back
•Strong leadership skills with experience managing people in complex organisations
•Strong interpersonal and negotiation skills with experience in a complex global environment
•Strong communicator with excellent oral and written skills
•Ability to work in fast-paced environment with proven ability to handle multiple outputs at one time
As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC UK is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.
We want everyone to be able to fulfil their potential which is why we provide a range of flexible working arrangements and family friendly policies.
HSBC is committed to making reasonable adjustments during the recruitment process for candidates with a physical or mental condition or impairment.
Please indicate what adjustments, if any, you may wish us to consider for you to be at your best through the recruitment process