Vice President - Group Risk Management (Quantitative Risk Management)
To develop and broaden the roles and responsibilities of the Group Quantitative Risk (GQR) function within the Group Risk Management forming part of the 2 nd line risk defense of the HKEX Group.
- Participation in broader 2nd risk management activities.
- Overseeing the compliance of risk policies against the HKEX Group Risk appetite statement (RAS). Manage formal governance approvals of policy.
- Manage and undertake annual methodology validation activities to ensure consistency to RAS, policies, regulation and broader industry best practice. Monitor and report on subsequent actions undertaken by the first line risk team.
- The daily and periodic reporting of activities undertaken by first line to ensure ongoing compliance with policy. This will include reporting to senior management and through the governance structures to the relevant risk committees. To ensure reporting identifies any issues and monitor appropriate escalation.
- Help develop and manage an appropriate "model risk governance framework" for the categorisation and risk assessment of all models used for financial risk.
- Regular reviews of models in accordance with the approved "model risk governance framework" associated testing and regular assessment that model achieves methodology goals and to ensure that the use and categorisation remains appropriate and consistent with Group standards.
- To update and review the "model risk governance framework" so that it continues to meet industry best practice and the group policy.
- Test model implementation in production environment and department tools.
- Provide challenge and Oversight as part of the group second line function through both the daily interactions and periodic Committees ensuring that changes to, or new, models, new contract analysis, process and procedures also receive additional scrutiny
- Master's degree or equivalent in quantitative finance, mathematics, economics, computer science or related discipline.
- Professional risk qualification (or studying towards) would be beneficial (e.g. CFA, FRM).
- Strong level of experience of working in a financial risk or quantitative Risk function within a Financial Services company, ideally as a second line analyst.
- Understanding of market, credit and liquidity risk models and principles and industry best practice.
- Understanding and experience of complex systems.
- Ideally, the successful candidate will have experience of working within an Exchange or Clearing House and familiarity with the requirements of CPMI-IOSCO.
- Understanding of the latest regulatory standards and market practice for model validation.
- Previous experience of three lines of defense model; in either a first or second line role
- Experience of setting up or working with a "model risk management framework" in a financial institution.
- Strong and confident communicator both verbally and in written form. The successful candidate will need to have strong influence across the organization and will need to communicate complex risk problems to senior management and broader audiences where required.
- Good judgment and clear decision-making ability.
- Proficient with Excel, VBA and preferably the ability to work with programming languages such as using 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
- Strong attention to detail
- Motivated self-starter
- Commercially aware
- Quick learner but willing to ask questions if unsure
- Good communicator, negotiator and organiser, sympathetic to overall work demands within department
- Able to work as individual but liaise effectively with other department or group stakeholders
- Ability to communicate effectively at all levels and positively influence others
- Ability to rapidly grasp new ideas and to think laterally and innovatively
- Determined and results focused