Global Head of Actuarial and Model Risk Governance

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This function brings together distinct specialisms to drive greater connectivity in how we manage engagement with key stakeholders for HSBC.

Finance teams provide the bank with internal and external financial reporting, forecasting, controls oversight, and stress testing expertise. Specialist areas also manage HSBC's worldwide tax affairs, group treasury needs, and events for investors and analysts.

Sustainability teams lead the bank's work to support sustainable growth in a global economy, including an ambitious plan to prioritise financing that supports the transition to net zero.

Group External Communications teams – including colleagues from Media Relations, ESG Communications and Group Reputation – deliver communication strategies that support HSBC's strategic objectives, protect our reputation and build trust among our stakeholders.

We are currently seeking a high caliber professional to join our team as Global Head of Actuarial and Model Risk Governance.

Reporting to the Group Chief Actuary in Group Insurance Finance, this is a senior actuarial position in the Insurance Finance division. The role holder supports the Group Chief Actuary and will:

• Lead the Actuarial First Line of Defence (FLOD) review in the Group Insurance Product Approval Process
• Support Partnerships on agreement review and product ongoing management
• Lead and drive the production of Economic Scenario Generator (ESG) to support reporting processes and Stress Testing
• Lead and drive roll out business projects and work on major group wide actuarial projects
• Advise and support the actuarial teams in response to emerging actuarial issues or other demands from senior stakeholders from the bank
• Lead on all model governance matters affecting the insurance model population of HSBC

Governance and Committee Attendance

• Participate in local relevant governance committees as acting member or delegate for the Group Chief Actuary
• Members of relevant model governance teams, forums and committees in the wider bank (e.g. IWPB, HBAP)
• Act as a delegate for the Group Chief Actuary where necessary in Group Insurance Committees/ Forums

Accountabilities for Business, Customers and Stakeholders

• Effectively support local sites on ESG production, key business and actuarial projects
• Work with Group Product team, Strategy team and Partnership team to support product and strategic projects development
• Support entity 1st Line model role-holders such as Model Developers, Model Owners, and Model Sponsors in all aspects of model risk management. This will include members of the entity and group C-suite (Chief Actuary, CFO, CEO)
• Liaise effectively with entity 2nd Line stakeholders such as Chief Risk Officers and Risk Actuaries on actuarial matters
• Interact with Global MRM (Model Risk Management) stakeholders and Internal Audit

Leadership & Teamwork

• Develop a culture where continual improvement in processes are being sought and where best practice, new ideas and initiatives can be nurtured
• Helps to remove barriers and align with best practices across the globe for specific areas of accountability
• Keep up-to-date with applicable actuarial standards, requirements and good industry practice
• Contribute to a productive team environment; connect with and support other members of the team
• Adopt an inclusive approach which is sensitive to other perspectives and ways of working

Functional Knowledge

• Advanced technical proficiency in actuarial principles and practices and exceptional communication skills
• Strong stakeholder management and influencing skills
• Demonstrated leadership and people management experience, including leading technical teams and planning for delivery
• Strategic thinker with a practical approach to execution, committed to process improvement and continuous development
• Culturally sensitive, with an understanding of local customer needs and the ability to work effectively in diverse teams
• High energy, enthusiasm, and initiative, with a track record of interfacing at all management levels

Requirements

Actuarial qualification (FIA/FSA Equivalent) with a least 15 years of post-qualification and Pricing / Valuation experience is a must as the role covers three main areas: product oversight, economic scenario generation, and model governance.

Experience: Broad and comprehensive understanding of concepts and principles within one discipline

Business / Commercial knowledge: The role requires a sound understanding of a value unit / product / region / legal entity, alongside a good understanding of the industry and the challenges and changes in the sector.

Leadership: Management responsibilities for a sizeable team of professionals (including responsibility for budget, and planning)

Problem Solving: Covers a wide range of activities that require evaluative judgements based on the analysis of factual and qualitative information in complicated perhaps novel situations

Innovation: Seeks ways of improving and adapting day to day departmental activities and will actively seek authority to implement them.

Accountability / decision making: Latitude to make decisions outside of established procedures but within a policy framework. Broad guidelines are available. Role implements strategy set by others.

Strategic Responsibility: Implements business plans through own team and is accountable for results.

Communication:

Internal communication: The role requires the ability to guide, persuade and influence others through the developed skills of communication and diplomacy.

External communication: The role requires the ability to negotiate and influence within their team with a high level of influence.

Opening up a world of opportunity
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