Audit Manager (Model & Risk) - HSBC - London - Wizbii

Audit Manager (Model & Risk)

  • By HSBC
  • London (United Kingdom)
  • Audit / Accounting

Job description

GROUP INTERNAL AUDIT – Audit Manager, Model Risk


Global Internal Audit now has opportunities with the option of being located in Edinburgh, Birmingham, Paris, or Krakow for ambitious individuals with strong modelling skills and good commercial awareness. Successful candidates will have specific knowledge and experience in market, credit, insurance or business risk; but will also need to use their general quantitative expertise to assess design robustness and operational performance of a variety of models across business lines.

This role provides an excellent and unique opportunity both to gain exposure to a wide range of models and other quantitative techniques employed across the banking and insurance businesses as well as to work with a highly motivated team of skilled and experienced audit and analytics specialists within the supportive structure of Group Internal Audit, where career development is a high priority.

Experience in Internal Audit would be desirable but not essential.

Role Definition

An Audit Manager in the Model Risk team is expected to undertake rigorous formal audits of all aspects of model development, implementation and usage in order to provide independent, objective assurance over the Group's internal model risk control framework and to assist business line managers by bringing a systematic, disciplined approach to the evaluation and improvement of risk management, control and governance.

The role has the following specific requirements:

Understand the Group strategy and business objectives to focus Internal Audit's work on the highest risks.

· Develop deep knowledge and understanding of various business lines' strategies and operations in order to focus audit work on the highest risks, to assess and guide business lines effectively.
· Possess and further develop in-depth business and market knowledge in one or more specific areas and baseline knowledge across a broad range of businesses.
· Understand key risks and controls in financial services, in particular those associated with models.

Help deliver the annual audit plan.

· Assist in the development of the annual audit plan and support the plan delivery.
· Provide quantitative support for assessment of model design, validation and related processes.
· Review and submit audit reports or conclusions for each audit conducted or supported.
· Enhance operational effectiveness, customer service quality and efficient use of resources.
· Execute risk-based audits by utilising the appropriate audit methodology.
· Deliver and document audit work to high prescribed standards and within committed timelines.
· Communicate audit processes, requirements and results clearly and concisely.
· Create reports that accurately reflect the audit findings and audit working papers.
· Participate in risk assessments and audit closure meetings, as necessary.
· Undertake up to 25% business travel as required.

Build and manage stakeholder relationships throughout the audit process in support of the business.
· Understand impact of audit work on the business (e.g., consequences of legal compliance findings).
· Ensure that business managers understand the corrective actions to be taken.
· Manage and build stakeholder relationships during audits to enhance effective influence.
· Monitor progress and resolution of outstanding issues on a regular basis.
· Identify existing and emerging business risks and deliver timely and proactive recommendations.

Work as part of a team and actively develop the team and one's self.
· Support the development of an effective team.
· Champion and embed best practice management and administrative procedures in own area.
· Develop own skillsets and competencies through continuous training and reflection and by soliciting open feed-back from peers and managers.
· Actively seek out new opportunities where Audit can add value.
· Delivery with a shared sense of ownership, cultivating an environment that reflects HSBC values (Dependable, Open, and Connected).
· Share knowledge freely among the team; coach and mentor other team members as necessary.
· Continuously build up personal audit capability and business/specialist knowledge, utilizing them for the benefit of the practice and applying them commercially.
· Complete other responsibilities, as assigned.

Seeked profile

Qualifications :

Key Experience, Knowledge, Skills and Capabilities

The ideal candidate will possess the following:

Experience and Knowledge

·  At least 2 years of work experience in financial services, with deep knowledge or one or more businesses and products in which models are developed or applied: e.g., front-office trading desks, bank risk functions, risk consulting, insurance actuary;

·  Experience and aptitude in a number of technical areas, including credit risk modelling, Basel internal rating system development, financial mathematics, derivatives, analysis of market risk, econometric modelling, stress testing and scenario analysis, and actuarial modelling.

·  Past work experience in a risk control function—e.g. model validation, internal audit, business risk management—and experience conducting rigorous formal audits;

·  A comprehensive understanding of major global regulatory frameworks and compliance requirements.

Analytical & Technical Skills

·  A master degree or higher in a quantitative subject;

·  Command over a wide range of analytical tools and techniques, supported by relevant business experience, to provide recommendations to meet ongoing and future business needs.

·  A sound grasp of general principles of statistical and financial modelling and familiarity with underlying assumptions of models and of model development processes.

·  Interest in and appreciation of the business context of models, and a high level of commercial awareness and customer focus. Ability to quickly understand practical business requirements of models, and to pick up new or varied techniques beyond their experience to date.

Communication Skills

·  Ability to explain factual information to individuals and groups in a structured, clear, confident and concise way to ensure understanding and acceptance.

·  Ability to produce detailed reports and other written material of a technical nature, using lucid and concise language to explain complex material, focusing on relevant information and adapting the style and content according to the target audience as needed.

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About HSBC

HSBC est l’une des plus grandes banques internationales avec une présence dans plus de 85 pays dans le monde. Elle a été créée en 1865 sous le nom de « The Hongkong and Shanghai Banking Corporation », et son siège social est basé à Londres. En France, HSBC totalise environ 400 agences et près de 10 000 salariés, avec une spécialisation dans plusieurs activités : une banque pour les particuliers, spécialisées notamment dans la gestion de patrimoine, une banque privée (gestion de fortune), une banque d’entreprises, qui s’appuie sur le réseau de l’ensemble du groupe HSBC dans le monde, et une banque de financement, d’investissement et de marchés. En 2012, HSBC France a réalisé un résultat avant impôt de 450 millions d’euros.

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