Uncleared Margin Rules - Assistant Vice President

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If you’re looking for a career that will help you stand out, join HSBC and fulfil your potential. 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. HSBC is one of the largest banking and financial services organizations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realize their ambitions.

We are currently seeking an experienced professional to join our team in the role of Uncleared Margin Rules Assistant Vice President.

In this role, you will:

• The Ongoing Model Validation (OMV) team is mainly responsible for monitoring, controls, and analytical review of the ISDA SIMM model test exceptions detected using (1) Actual P&L test and (2) 3+1 Back testing at counterparty level.
• Resolving data quality issues affecting the accuracy of the back testing results while working with SIMM Model Quant, Product Control and Traded Risk.
• Managing remediations with affected counterparties to ensure additional margin is calculated as agreed with the counterparties.
• Enhancing the RNIS (Risk not in SIMM) target operating model and establishing control framework. Represent the team in governance forums and discuss material model deficiencies
• Working in close collaboration with Standard Initial Margin Model (SIMM) Quant (Group Risk Analytics), front office stakeholders and CTB (Change the Bank) team to identify, escalate and resolve underlying issues. 

To be successful you will:

• A degree / qualification in mathematics, finance, accountancy, business management or previous experience in risk management (Market Risk) specifically in Value at Risk (VaR) process and its variant (i.e. Historical simulations, parametric Value at Risk (VaR), full reval) Product control
• Good understanding and experience of financial products, especially OTC derivatives (e.g. Swaps and Options) also good understanding and experience of market risk metrics and measures.
• Good understanding and experience of Initial Margin Calculation / Standard Initial Margin Model (SIMM) / BCBS 261

What additional skills will be good to have?

• Proficiency in Python or willing to learn Python
• Excel VBA
• FRM or CFA certification

You’ll achieve more at HSBC

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HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible work and opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified people irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

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