Company Introduction: We're home to Asia's most dynamic and vibrant capital markets.
Connecting capital, ideas, inspiration and innovation for deeper, more diverse and liquid global capital markets; providing greater choice and opportunity for our customers, each and every day.
HKEX is a purpose-driven company. Our commitment to the long-term development of our business and our markets is articulated in our purpose: "To Connect, Promote and Progress our Markets and the Communities they support for the prosperity of all."
Job Summary: The Quantitative Risk Management team at HKEX is seeking a highly analytical and detail-oriented Associate to support the validation of quantitative models used across the firm. The successful candidate will play a crucial role in managing model risk and ensuring the integrity of models used for decision-making in various financial contexts.
Job Duties: Responsibilities: - Conduct thorough validation of financial models for accuracy, robustness, and compliance with regulatory standards.
- Collaborate with model developers to understand methodologies and assumptions used in model creation.
- Perform independent testing and back-testing of models to assess performance.
- Identify potential model risks and limitations, and propose enhancements to mitigate such risks.
- Prepare detailed validation reports and documentation for internal and external stakeholders.
- Stay abreast of industry best practices, regulatory requirements, and advancements in quantitative modeling.
- Support the Model Risk Management team in ad-hoc projects and initiatives related to model governance and control.
Requirements: - Master's degree or equivalence in quantitative finance, mathematics, economics, computer science or related discipline.
- Professional risk qualification (or studying towards) would be beneficial (e.g. CFA, FRM).
- 1-5 years of experience in model validation, model development, model risk audit or quantitative research
- Experience with developing or validating risk models (i.e. market risk, credit risk and liquidity risk models), initial margin models and stress testing models is strongly preferred
- Hands-on experience with model governance framework is strongly preferred
- Relevant working experience in an Exchange or Clearing House and familiarity with the requirements of CPMI-IOSCO is strongly preferred
- Understanding of the latest regulatory standards and industry practice for model risk management
- Familiarity with equity derivatives is preferred.
- Strong and confident communicator both verbally and in written form.
- Good judgment and clear decision-making ability.
- Proficient with Excel, VBA and preferably the ability to work with programming languages such as 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
HKEX is committed as an Equal Opportunity Employer. Diversity is one of our core values and we look to support, respect diverse perspectives, abilities, culture and experiences within our workplace.
Location: HKEX - Exchange Square
Shift: Standard - 40 Hours (Hong Kong SAR)
Scheduled Weekly Hours: 40
Worker Type: Permanent