Associate - Quantitative Risk Management - Group Risk Management (Model Risk)

Location:
HKEX - Exchange Square

Shift:
Standard - 40 Hours (Hong Kong SAR)

Scheduled Weekly Hours:
40

Worker Type:
Permanent

Job Summary:
Quantitative Risk Management (QRM) is responsible for providing governance to the first line risk teams across all HKEX group clearing houses on initiatives such as new product/service launch, methodology changes and model parameter reviews. The team is also responsible for establishing the model risk governance framework of the group, financial risk policy / appetite reviews, group level financial risk data management and other group risk management related quantitative modelling works for continued enhancements of its risk management capabilities.

Job Duties:

Responsibilities:

• Perform independent validations on models used across the HKEX and properly document the validation work
• Provide effective challenges to key modelling elements including model assumptions, limitations, inputs, outputs, methodology, implementation, monitoring and control, etc.
• Ensure any identified model risk issues are effectively communicated with model stakeholders and appropriately remediated
• Work with model developers and key stakeholders on model ongoing monitoring and improvement
• Assist in develop, implement and enhance the model risk management policies, standards, procedures, controls and the model inventory management system
• Oversee and ensure the adherence to model risk policies and regulatory guidance across all business lines, including model identification/attestation, model development, model risk rating, ongoing monitoring, control environment and reporting
• Build strong working relationships with key partners across the HKEX, including 1st and 3rd line of risk defense

Requirements:

• Master's degree or equivalence in quantitative finance, mathematics, economics, computer science or related discipline.
• Professional risk qualification (or studying towards) would be beneficial (e.g. CFA, FRM).
• 1-5 years of experience in model validation, model development, model risk audit or quantitative research
• Experience with developing or validating risk models (i.e. market risk, credit risk and liquidity risk models), initial margin models and stress testing models is strongly preferred
• Hands-on experience with model governance framework is strongly preferred
• Relevant working experience in an Exchange or Clearing House and familiarity with the requirements of CPMI-IOSCO is strongly preferred
• Understanding of the latest regulatory standards and industry practice for model risk management
• Familiarity with equity derivatives is preferred.
• Strong and confident communicator both verbally and in written form.
• Good judgment and clear decision-making ability.
• Proficient with Excel, VBA and preferably the ability to work with programming languages such as Python and SQL.
• Strong quantitative risk skills
• Strong interpersonal skills.
• Ability to confidently consider options and develop risk mitigations.
• Familiarity and knowledge of regulatory environment of CCPs in both HK and Europe is preferable.
• Demonstrates sound and reasoned judgment at all times

Company Introduction:

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world's major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world's leading IPO market and as Hong Kong's only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia's most vibrant markets.

As the global markets leader in the Asian time-zone, we offer a world of opportunities for early careers and experienced hires. Here, we know that diverse thinking fosters better solutions, and we are committed to building an open and dynamic environment which allows our business to innovate and our people to thrive.

Discover the latest career opportunities and programmes at HKEX.

HKEX is committed as an Equal Opportunity Employer. Diversity is one of our core values and we look to support, respect diverse perspectives, abilities, culture and experiences within our workplace.