Global and Regional Head of Insurance Traded Risk

Some careers grow faster than others. If you’re looking for a career that will give you plenty of opportunities to develop, join HSBC and your future will be rich with potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further. Risk and Compliance is a global function that brings together all aspects of regulatory and financial crime risk management. Acting as risk stewards, and incorporating a range of specialist teams, we work together with the business and leverage advanced technology to help HSBC navigate a complex regulatory landscape and embed a sustainable approach to compliance risk management that supports safe growth and ensures fair outcomes for clients. Compliance aspires to continuously raise the bar and set leading standards across the industry to help HSBC safeguard its customers and the communities within which it operates. Role Purpose The job holder reports functionally to the Global Head of Treasury Risk and on an entity basis to the Regional Head of Traded and Treasury Risk in advising on business, risk policy and risk management system development. The job holder is also expected to maintain strong relationships with the Global Insurance CRCO, Chief Investment Officer and Head of ALCM as well as the Chief Credit Officer & Head of WCRM, Asia. Responsible to lead the Global risk team providing second line stewardship for market, credit and liquidity risk, covering the Insurance sites globally. Provide strong review and challenge to the first line of defense and work closely with stakeholders in the businesses and functions on a variety of risk topics and deliverables. Work closely with global risk leadership to ensure a clear and comprehensive understanding of Insurance market, credit and liquidity risk. Principal Accountabilities Enable the Business to determine risk appetite for market, credit and liquidity risks. Drive development of risk frameworks for Insurance business, expanding them to cover new asset classes/strategies, e.g. derivatives activities, financial reinsurance and coinsurance. Ensure new Investment and Product initiatives have considered all relevant market and credit risk factors, including use of new strategies. Contribute to risk research aimed at improving Insurance’s ability to pro-actively respond to changes in risk factors and economic regimes, based on impacts on IFRS, RC and EC Positions. Provide insight in and oversight over the identification, measurement, monitoring, reporting and mitigation of risks. Enable new opportunities by acting as a Risk SME to the Business in assessing investment risk impact and viability of new strategies and asset classes. For existing Business, Provide SME to Insurance Business. Periodically review existing strategies and investment holdings to assess risk and performance versus assumptions. Risk review of portfolio construction process and outcomes. Contribute to the design, implementation and maintenance of a risk budgeting / risk limit structure, by suggesting alternative risk metrics and limits and obtaining agreement with Investment Management. Provide insight in determining stress and scenario tests, reverse stress test for transactions, strategies and asset classes / portfolios. Customers / Stakeholders Insurance sites globally. Lead & take oversight responsibilities for Insurance globally, covering market, credit and liquidity risk. Participate in a SME capacity in relevant committees to provide guidance and oversight to various initiatives. Group Insurance Contribute to Group Insurance wide emerging risk process, through knowledge of and experience with developments in global market instruments and international financial market regulations. Provide HSBC Group Risk with visibility on Insurance and obtain support or endorsement in the established and proposed Business’ risk appetites. Manage expectation and ensure awareness of senor risk stakeholders for the financial risks of Insurance Business. Leadership & Teamwork Assist Global Head of Treasury Risk, CIB & HBEU in determining risk strategy and risk framework for Insurance. Contribute to risk research to improve the Business’s ability to pro-actively respond to changes in risk factors, economic and capital regimes. To be global SME on a subset of asset classes. Encourage efficient and streamlined risk management processes, including providing guidance and with reference to HSBC Group Risk framework. Improve efficiency and reduce operational risk. Drive changes and adopt best practices. Achieve consistency of risk governance and risk infrastructure among all Insurance sites. Continuously drive individuals’ ownership. Knowledge & Experience / Qualifications Proven experience in Quantitative finance and / or actuarial skills is required. Experience in market and credit risk management, preferably within Insurance. Ability to understand and interpret insurance product structure and complex business requirements, highlight problems and offer solution. Good knowledge of derivative markets and relevant securities markets. Able to take responsibility and ownership of the role. Ambition to move forward. Solid communication skills, ability to influence partners within the business and Group Risk. Opening up a world of opportunity HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. 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