MRUD Risk Analyst

Job description

Role Title: MRUD Risk Analyst

Business: Global Markets

New or Existing Role? Existing

Grade: GCB5

Role Purpose

· The MRUD Team within the Global Markets Middle Office Risk Valuation Data Quality (i.e. GMMO RVQ) function at HSBC are expected to; control, calculate, monitor, and report the BCBS 261 initial margin regulatory requirement at regional and group level.
· The daily exchange of IM under the BCBS 261 requirement has been Live since 01/09/2016.
· Hence, the requirement to engage in the extensive development and running of the end to end process flow of the daily IM exchange.

Key Accountabilities

Impact on Business

· Performing OMV and ISDA Backtesting
· Revieiwing & understanding the regulatory framework for BCBS 261
· Working with all stakeholders on the End to End delivery of MRUD initial margin
· Writing and Reviewing BRDs across functions
· Engage in dispute resolution
· Working in the development of GMMO RVQ framework for IM
· Working on developing joint work with Collateral Management and FO

Customers / Stakeholders

· HSBC Counterparts
· Collateral Management/Operations/IT
· Front Office
· GRA (Group Risk Analytics)
· Traded Risk function

Leadership & Teamwork

· Coordinating daily submission
· Liaising with all stakeholders
· Ensuring completeness and quality assurance
· Working on deliverying a high standard GMMO RVQ framework

Operational Effectiveness & Control

· Ensure that deadline set for GMMO RVQ are delivered in a timely manner
· Ensure completeness & accuracy of submitted data
· Assist in the development of strategic tools
· Perform a thourough review of the final data expected to be submitted by GMMO RVQ to downstream users (e.g. Collateral Management Team).

Major Challenges

· Regulation : Support the development, coordination and production of the IM in the context of Margin Requirement (BCBS 261).

· Expertise : Be part of the team that is the main point of contact in GMMO for MRUD questions coming from local regions, other HGHQ teams and regulators.

· On-going risk management: Depending on business needs, support the production of group MRUD results for internal risk management purpose.

· Engagement with other HSBC functions: Be one of the main representatives for GMMO MRUD on internal discussions with all functions involved in the successful delivery and running of MRUD.

Role Context

· As described in introduction, this role sits in Global Market Risk and Valuation Data Quality, with extensive responsible of providing guidance on BCBS 261 within the Global Markets Middle Office function.

· This position has also a significant exposure throughout the Group. With expected coordination with various HSBC functions, namely (GMMO, Product Control, Traded Risk Management, Collateral Management, Compliance, Risk Analytics & Front Office).

Role Dimensions

· Global Markets Middle Office | GMMO RVQ
· GCB 5
· HSBC Bank plc

Management of Risk

· High! Due to the visibility of the data expected to be produced and exchanged on a daily basis.

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.

Desired profile

Qualifications :

·  MO Risk Analyst level
·  Pro-active
·  Good communication skills
·  Very good mathematical skills
·  VBA mastery
·  Good market risk or/and counterparty risk
·  Experience in market/counterparty risk reporting (preferable)
·  Previous stress testing experience (preferable)

We are an equal opportunity employer and are committed to creating a diverse environment.