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Joboffer number #282105

Quantitative Model Validation – Credit Risk (IMR/Quant/09/2016)

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Job Description

Ref No: IMR/Quant/09/2016
Location: Krakow

As an integral component of HSBC’s Risk Management Framework, the purpose of Independent Model Review (IMR) is to assess all models used within the Group. The function provides the Group's Management, Regulators and Shareholders with the necessary assurance that the Bank's models are well controlled and fit for purpose. Model types include Asset Management models, Economic Capital models, Financial Vulnerability Models, Global Markets Trading & Hedging models, Insurance Risk models, Retail and Wholesale Credit Risk models, Stress Testing and Scenario Analysis models and Traded Risk Models.
With continued and increasing focus on the management of model risk within financial institutions, independent model review teams play a key role in the assessment of inherent and residual model risks in increasingly complex and fast moving markets.

Key Accountabilities:

  • Validate the key aspects of models under review such as: choice of modelling approach, underlying assumptions and associated limitations, performance, documentation and governance, against regulatory requirements and global standards.
  • Document findings and appraisal outcomes in the time schedule defined jointly with the model owner.
  • Work effectively with the other IMR (local and other sites) quantitative analysts.
  • Work with Senior Managers across IMR to build relationships with Model Developers / Owners.

  • Masters / PhD Graduate in a quantitative discipline e.g. Quantitative Finance, Mathematics, Economics, Engineering, etc.
  • Professional qualifications such as PRM, FRM, CFA or CQF will be considered a plus.
  • At least 3 years of experience in financial modelling and/or model validation in the financial sector.
  • Excellent verbal and written communication skills.
  • Ability to present statistical concepts to non-technical audiences in a persuasive and compelling manner

Technical Requirements:
  • Knowledge of statistics and quantitative techniques used in development / validation of credit risk models e.g. regression analysis, reject inference, decision trees, time-series analysis.
  • Practical experience in development / validation of credit risk measurement tools for either Retail or Wholesale portfolios:
o Acquisition and Behavioural Scorecards
o Stress Testing
o Economic Capital
  • Strong practical knowledge of programming languages/ software applications like SAS, SQL, R, Mathlab or equivalent
  • Knowledge of the Basel II / III regulatory framework (i.e. CRR, PRA SS 11/13 or the relevant regulations issued by individual country supervisors)

We offer:
  • Stable job in professional team,
  • Interesting career path in an international organization,
  • Consistent scope of responsibilities,
  • Private health care and employee’s benefits.

To apply for this position please send your curriculum vitae and a cover letter in English, including reference number (IMR/Quant/09/2016) using

You’ll achieve more at HSBC.

HSBC takes pride in a diverse and inclusive working environment that sees our people benefit from mentoring, flexible working and the support of Employee Resource Network Groups. 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.

We thank all interested candidates for their applications. We reserve the right to contact only selected candidates. Only those applications that include the candidate's consent to process personal data by HSBC Service Delivery (Polska) Sp. z o.o., in accordance with the Data Protection Act as of 29 August 1997 (Journal of Acts of 2002, No 101, pos. 926 with later amendments) will be considered.

Darbo skelbimo numeris

Job type:
Additional info:
Expiration date:
02 November 2016
04 October 2016

CV Market´s client

If you're looking for a role where you can continue to make an impression, take the next step at HSBC where your contribution will always be valued.

Global Risk stands for the expert risk management function supporting HSBC globally with all aspects of risk management. The team actively manages a varied and dynamic range of risk types, including security, fraud, information security, operational, credit, pension, insurance, compliance, regulatory, market, reputation and geopolitical risks. All parts of the Global Risk team use their skills, insight and integrity to handle established threats and those they see emerging, acting to protect and enable HSBC to deliver sustainable growth.

Given the creation of the global Independent Model Review (IMR) team in Krakow, the function is seeking candidates at different experience levels to join its Credit Risk team.

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Quantitative Model Validation – Credit Risk (IMR/Quant/09/2016)
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