Initial Margin Model Validation Analyst

Initial Margin Model Validation Analyst

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 organisations 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 realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of Initial Margin Model Validation Analyst

Role purpose:

The team operates in a global coverage model, as the central service to calculate initial margin for various HSBC entities around the globe.

The role is a subject matter expert position within the team. The SMEs are expected to take ownership of the service delivery of OMV, ensure HSBC’s continued regulatory compliance, identify and implement improvements to the process and validation. The SMEs own the governance framework, making sure issues are escalated and presented to stakeholders clearly, and resolution actions are agreed.

As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.

In this role you will be:

• Reviewing & understanding the regulatory framework
• Working with all relevant stakeholders on the daily end to end delivery of initial margin calculation, with a goal to achieve 100% completeness and high level of accuracy.
• Identify improvements to and further develop the initial margin calculation process
• Work with front office identify areas of growth and opportunities to optimize the Initial Margin posting.
• Participate in internal and industry initiatives impacting market risk sensitivities
• Monitoring, controls, and analytical review including explain of the internal back testing and ISDA back testing end-to-end inputs and results 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
• working in close collaboration with Group Risk Analytics, front office stakeholders and Change the Bank team to identify, escalate and resolve underlying issues.

To be successful in this role you should meet the following requirements:

• A degree / qualification in mathematics, finance, accountancy, business management or previous experience in risk management (Market Risk)
• Good understanding and experience of financial products especially OTC derivatives (eg. Swaps, Options)
• Good understanding and experience of market risk metrics and measures
• Good understanding and experience of Initial Margin Calculation / SIMM / BCBS 261
• Understand the VaR process and its variant (i.e. Historical simulations, parametric VaR, full reval)
• High level of competency in the production of information, and the ability to process and analyse large volume of data
• High proficiency at Excel (VBA skill would be an advantage), SQL, Word, Powerpoint
• Proficiency in Python or willing to learn Python.
• Self-motivated, excellent communication skills, adaptability and mentoring skills. Candidate should be attentive to details

This role is based in London.

Opening a world of opportunity

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.

We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long term conditions or neurodivergent candidates who meet the minimum criteria for the role.

If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:

Email: [email protected]

Telephone: +44 207 832 8500