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Senior Vice President Risk Management
HSBC
Arlington Heights, IL, United States
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Description
• IFRS 9 is a regulatory project with an objective to implement the new accounting standard related to impairment allowance calculations on an expected loss basis.
• This role will lead IFRS9 methodology development for retail portfolios. This is a critical first step in the process where the regulatory/accounting guidance is understood and interpreted to convert to modelling decisions that can be implemented for all global HSBC retail portfolios.
• The role needs to have extensive experience with impairment allowance modelling and related processes.
• The role should also have a good understanding of the accounting rules pertaining to impairment allowance.
• The role needs to be comfortable to guide the model development team with technical details on methodology.
• The role will interact with various stakeholders in Group and Regions to ensure socialization of methodology related topics in clear and concise manners to audiences with varying levels of modelling expertise.
• The role will actively participate in all reviews on IFRS9 methodology.
• This leadership role would be driving the work of a large team of Junior and Senior analytics professionals and be responsible for their development in both technical and critical thinking skills.
• Effective communication of complex topics is critical to success in this role.
Impact on the Business
• Manage staff and/or external consultants in the design, development and/or implementation of statistical models to implement the IFRS9 accounting guidance.
• Work with senior management in the development of risk management systems and strategies. May work with Technology Services and external vendors to select, design and implement risk management/data aggregation systems, as appropriate.
• Manage credit risk management assignments and projects undertaken by independent external consulting organizations. Ensure effective, efficient and compliant results.
• Develop diagnostic method to quantify changes in reserve due to both external and internal changes to credit risk environment.
• Provision or capital requirements for the RBWM under various economic outlooks (scenarios).
• Integration of enterprise wide stress testing or regulatory requirements into the IFRS9 financial model framework.
Customers / Stakeholders
• Collaborate with counterparts in other locations and Regions.
• Provide technical/analytical support to regional analytics teams throughout the model development phase of the project
• Develop standard model templates and documentation standards
• Review and approve/reject requests for dispensation to deviate from the agreed global methodology
• Conduct model reviews to ensure models are developed consistently with agreed global methodology
• Partner with other teams as Accounting, Modeling, Stress testing etc. on key methodology decisions
Leadership & Teamwork
• Provide Thought leadership on methodology and Lead Model methodology working group
• Drive the work of a large team of Junior and Senior analytics professionals and be responsible for their development in both technical and critical thinking skills.
• Develop reserve modeling including thorough analysis of portfolio performance, loss analysis/segmentation and recovery.
• May participate in development of credit data warehouse, technical model documentation, identify best practices, train analysts in Global Analytical Centers, coordinating reserve reporting and systemic implementation of models.
• Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
• Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
• Develop and recommend credit standards for one or more business units.
• Develop and install credit monitoring and tracking systems designed to quantify the drivers of allowance change
• Develop economic and portfolio forecasts including a thorough analysis of portfolio performance and loss analysis/segmentation.
• To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
• Complete other responsibilities, as assigned.
Major Challenges
• Ability to manage multiple priorities at the same time within stringent deadlines and with minimum supervision.
• The position needs to follow company policies and any deviation from policy must be escalated to their manager for notification and approval
• Requires advanced knowledge of business practices, business methods and business systems utilized to ensure data is interpreted properly.
• Partnership across multiple geography and level of organization
Role Context
The Band D Director level is designated for positions with larger scope and/or accountability (i.e. portfolio size owned/managed, staff size and function, etc.) and is used in areas where this level of management is deemed appropriate within the hierarchical structure.
• In addition to the above job description, the Corporate Business Unit also utilizes this Band D Director – Credit Policy/Risk position in an Independent Review Function:
Summary - 1. Provide Thought leadership on methodology
2. Manage Senior stakeholders from various functions at Group and Regions
3. Participate in work streams on Methodology and Policy to define approaches
4. Drive research and development on open methodology items related to the project
5. Define standards and templates to be used in development process
6. Train and develop the modelling team with required knowledge and skills
7. Support IMR Review and remediate findings
8. Support model implementation to group solution
9. Lead Model methodology working group
10. Partner with other teams such as Accounting, Modelling, Stress Testing etc. on key methodology decisions
11. Lead Development of Gen2 IFRS9 Models
12. Drive the work of a large team of Junior and Senior analytics professionals and be responsible for their development in both technical and critical thinking skills.
Management of Risk
• Ensure employees apply compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues., The physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
• Physical Demands/Work Environment: Very good working conditions. Little or no physical demands. Minimal handling of light materials. The physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
Observation of Internal Controls
• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
Qualifications
• Ten years proven credit policy and/or credit risk management/analytics experience, or equivalent. Strong knowledge and understanding of financial services preferred.
• Bachelor’s degree in mathematics, statistics, finance, economics, related field or equivalent experience; Masters Degree preferred.
• Well-developed management, interpersonal, organizational, analytical, problem-solving, project management and verbal and written communication skills.
• Ability to manager large, diverse teams across multiple sites, if applicable.
• Proficiency with personal computers as well as pertinent mainframe systems and software packages.
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