Director, Risk Management
3 days ago
Role Overview Enhance the Model Risk Management function for the Group’s OTC derivatives business (SFC Type 11). The incumbent will be responsible for designing, implementing, and overseeing a robust Model Risk Management Framework that meets Hong Kong SFC regulatory standards and global best practices. This role requires a strong focus on risk models, risk measurement systems, and regulatory capital models specific to OTC products. Key Responsibilities Lead the design, implementation, and continuous enhancement of the Model Risk Management Framework across the organization, ensuring full compliance with HK SFC Type 11 regulations, Internal Control Guidelines, and relevant risk management circulars. Define and maintain the Model Governance Policy, ensuring clear segregation of duties between model development (1st Line) and model validation (2nd Line). Direct the independent validation lifecycle for all material models, with a specific focus on Market Risk (VaR/ES), and SIMM models. Conduct and oversee rigorous technical assessments, including theoretical review, replication, benchmarking, and challenge model development to quantify model limitations. Serve as the primary subject matter expert on model risk for regulatory engagements; stay abreast of SFC, HKMA, and global regulatory changes (e.g., FRTB, IBOR transition) affecting OTC derivatives. Ensure all models used for regulatory capital reporting (under SFC Financial Resources Rules) and risk monitoring are validated and approved in accordance with regulatory standards. Ad‑hoc design and implement innovative quantitative tools to monitor model performance (ongoing monitoring), assessing stability, calibration, and predictive power. Establish a comprehensive model inventory and risk rating system to prioritize validation activities based on model materiality and complexity. Play a critical gatekeeping role in the New Product Approval (NPA) process for OTC derivatives, ensuring that all pricing and risk models for new products are validated and operational prior to launch. Assess model risk implications of new trading systems or risk infrastructure implementations. Prepare and present high‑impact Model Risk reports to Senior Management, articulating aggregate model risk exposure, validation findings, and remediation status. Drive the resolution of model risk issues by influencing model owners and business heads to implement necessary mitigation strategies. Requirements Advanced degree (Ph.D. or MSc) in Quantitative Finance, Mathematics, Physics, or related field. 8 years of experience in Model Risk Management, Quantitative Analytics, or Risk Management within an investment bank or SFC licensed corporation. Candidates with at least 5 years of relevant experience may be considered as Vice President. Deep understanding of OTC derivative products (Equities, Rates, FX, Credit) and their associated valuation and risk methodologies. Familiarity with HK SFC regulations (SFO, Code of Conduct, FRR) is highly preferred. Strong programming skills in C++, VBA, Python, or SQL. Excellent verbal and written communication skills in both Mandarin and English. #J-18808-Ljbffr
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