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Independent Model Validation is a specialist quantitative role within the Model Risk Management team responsible for carrying out independent validations of HSBC’s model landscape, in order to identify and communicate model limitations and issues. This role is part of the Wholesale IRB validation team.

Independent Model Validation provides independent challenge of a model’s underlying theoretical assumptions and limitations, its practical implementation, its live application and business usage, providing stakeholders (including model users, senior management, audit and regulators) with assurance that models and tools developed, maintained and used within HSBC Group are fit for their intended purposes and are compliant with applicable internal and supervisory expectations. They will also review remediation plans and activities, undertake portfolio level reviews across model types and challenge the model owners on the appropriate application of relevant policy of models.

We are currently seeking a high calibre professional to join our team as aSenior Manager, Independent Model Review.

Principal Responsibilities

Through effective stakeholder management and liaison with Global Businesses and Functions; plan, prioritise and deliver independent reviews and assessments for models developed and used with the area, ensuring that decisions are based on delivering 2LOD accountabilities and taking account of key business priorities.Support the Global Head of the Function by ensuring that potential model risk issues, impacts to risk appetite, Internal and external audit findings and regulatory issues are managed appropriately and escalated in a timely manner as requiredParticipate in engagements with Regulators as required to evidence robust independent challenge of model used in HSBCUndertake 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 modelProvide written reports detailing the results of validations highlighting issues identified during the validationValidate remediation activities completed by the ILOD to ensure appropriate resolution of identified issuesWork with relevant stakeholders to embed new Global Model Risk Policies and ProceduresProvide 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.Participate at Governance Forums as required