- The MRUD Team within the Global Markets Middle Office Risk Valuation Data Quality (i.e. GMMO RVQ) function 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.
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
- 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).
- 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 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.
- 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 functions, namely (GMMO, Product Control, Traded Risk Management, Collateral Management, Compliance, Risk Analytics & Front Office).
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.
- MO Risk Analyst level
- 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)