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: Quantitative Risk Management is responsible for providing risk governance to all the relevant first line teams across all HKEX group functions on initiatives such as new product/service launch, methodology changes and model parameter reviews. The team is also tasked with the model validation exercise for the group to ensure its ongoing adherence to all the relevant regulations, policies and group risk appetite.
Quantitative Risk Management is also responsible for leading the efforts in new risk management initiatives such as policy/risk appetite reviews, group level financial risk data management and risk analytics and other group risk management related projects for continued enhancements of its risk management capabilities.
This is a team lead position overseeing the Model Risk team within the Quantitative Risk Management department. The role will undertake/oversee validation activities of quantitative models and methodologies used across HKEX group functions. Working closely with the rest of the Group Risk teams to provide appropriate expert second line challenge on the various risk types - market, credit, model and liquidity - that the HKEX as a group is exposed to, and to ensure ongoing monitoring and reporting of the compliance of the first line activities against both group and local risk appetite and policies.
Job Duties: - Lead and oversee a team of model validation experts in conducting routine validation exercises across the organisation.
- Implement and manage the model risk governance framework, ensuring its adoption across all organisational functions in line with the engagement plan.
- Conduct annual reviews of methodologies to align with Risk Appetite Statements (RAS), policies, regulations, and industry standards. Monitor and report on first-line risk team's actions.
- Ensure compliance through daily and periodic reporting of first-line activities, including escalation of issues to senior management and relevant risk committees.
- Maintain and update the model risk governance framework, ensuring it reflects industry best practices and group policies.
- Regularly assess models against the governance framework, ensuring their effectiveness and appropriate categorization according to Group standards.
- Validate model implementations in the production environment and departmental tools.
- Provide second-line challenge and oversight through daily interactions and periodic committees, scrutinizing changes to existing models, new models, contract analyses, processes, and procedures.
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