Regulatory Policy Manager

Full Job Description

Job Title: Regulatory Policy Manager, IRR

Duration: Initially until Dec 2024

Location: HSBC London 8CS

Pay Rate: £730 PAYE Per Day Inside IR35 / £937.56 Umbrella Per Day Inside IR35

Interview: 2 stage, with a case study to complete ahead of the second interview.

Overview:

Our Risk and Compliance function has a critical role to play in supporting, challenging, and advising across all areas of the business through establishing policy, identifying and managing forward-looking risk and compliance. We focus on creating an environment that encourages our people to speak up and do the right thing, as well as protecting our customers, the organisation, and the integrity of the financial markets in which we operate. Already an industry-leader in many respects, we want to continue setting standards and evolving to respond to strategic changes.

Global Regulatory Policy and Advisory (GRPA) is part of Group Risk. The team is a centre of excellence for regulatory policy for prudential risks, including Credit risk, Counterparty risk, Market risk and other Treasury risks. We lead the engagement with our key regulators and represent HSBC at industry forums in our areas of expertise. Being at the forefront of industry change, we use our unique position to brief senior management thereby supporting strategic decision-making, and author policy papers so that our regulator’s expectations are clearly understood and implemented by the business. We are a global team with presence in our key markets in the UK, Europe Americas and Asia.

We are currently seeking an ambitious individual to join our team as a Regulatory Policy Manager in our banking book policy sub-team, working together with colleagues to define, manage and achieve divisional business targets.

Role Purpose

The role holder will lead on regulatory interpretation of regulatory requirements for credit risk , including the internal ratings-based approach (IRB). As well as lead the review and response to proposed rulemaking by regulators designed to address the changing environment that banks operate within, such as regulatory developments for:

• Basel 3.1;
• Climate risk; and
• Artificial intelligence/machine learning (AI/ML).

As a global team, the role holder will be required to work with colleagues across the globe to understand the implications the rules will have on our businesses. Specifically, the role requires close collaboration with modelling teams (Group Risk Analytics ‘GRA’), wholesale credit risk management (WCRM) and the business to provide guidance on policy matters, such as regulatory requirements for model development.

The role holder will have direct interaction with senior management on policy topics. This role will act as the Second Line of Defence (SLOD) for Wholesale internal ratings based (IRB) models to ensure they satisfy regulatory requirements.

In this role, you will:

• Review and opine on existing and proposed regulatory policy on wholesale credit risk .
• Lead the process to develop regulatory interpretations and policy opinions, including clear communication of the latest external regulatory developments to customers / stakeholders.
• Undertake line by line traceability mapping of regulatory articles to interpretations and advise implementation owners on the regulations to facilitate compliant application.
• Ensure consistent and accurate communications to our regulators.
• Support the engagement with the Prudential Regulatory Authority and industry trade bodies on regulatory policy and permissions topics.

Experience

• Experience in general or Wholesale banking including Commercial Banking , Global Banking & Markets or Wholesale Credit Risk.
• Good knowledge of the regulatory landscape particularly relating to credit risk regulations, IRB risk model permissions or previous experience in a Regulatory Capital policy function.
• Relevant working experience in a bank, rating agency, consultancy or advisory firm is desirable.
• Experience of dealing with regulators is advantageous.
• Some understanding of statistics and concepts of the risk modelling process would be advantageous

Skills

• Ability to lead, manage and successfully deliver within the agreed time scale, in liaison with all relevant stakeholders: model owners, business, finance, senior management and regulator.
• Excellent written and verbal communication skills are mandatory.
• Manages self to deliver own work within timelines.
• Flexibility to work with colleagues and key stakeholders in an international team.
• Influencing skills are required as many resources will not report to the jobholder

Qualifications

· Educated to university degree level or equivalent and it would be desirable for them to hold a relevant professional qualification

If you’re looking for a career that will help you stand out, join HSBC, and fulfil your 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.

Either apply direct!

Please note, in the event of a high volume of applications for this role, we will not be able to respond to each individual applicant. Unfortunately, if you have not been contacted within 7 days we will not be progressing with your application. Thank you for your understanding.