Job description

Some careers have more impact than others.

If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be.

Global Finance is integral to HSBC’s purpose and strategy, playing a valued role in managing costs and deploying capital in the most effective way. Our global team of finance professionals’ partner with the business to provide trusted insights and forward looking analysis; accuracy; efficiency and control to frame and influence business decisions.

We are currently seeking an ambitious individual to join our team as an Pensions Modelling and Capital Manager, working together with colleagues to define, manage and achieve divisional business targets.

Role Purpose

Support the shaping of pensions modelling, strategy and stress testing for the Group, to champion effective management of pension risks and associated stress testing focused capital requirements. The Pensions Modelling and Capital Manager will maintain and enhance stress testing, asset and liability modelling processes, associated governance processes and contribute to the management of pension and other post-employment benefits risks and will liaise with Risk, Finance and Human Resources (HR) colleagues across the globe.

In this role, you will:

• Lead and/or support pension modelling work as required, in particular Pillar 2A and other stress testing deliverables such as annual Bank of England exercise, US Comprehensive Capital Analysis and Review (CCAR), Climate focused stress tests and other internal stress tests
• Lead and/or support requirements for quantitative modelling from third party vendors; exercise of controls for data inputs (e.g. pension scheme asset and liability data) and onward communication of model outputs and their limitations
• Support requirements for quantitative pension Risk Appetite modelling and reporting.
• Lead and/or support key pension Management Information production and reporting from a central system including establishing the capability to report on pension plans climate exposure
• Lead and/or support alternative funding/investment strategy work via Asset/Liability management (ALM)/modelling/scenario analysis
• Support Internal Model Risk Governance, Independent Model Review and Internal Audit requirements and reviews
• Lead and/or support global pension projects as needed to enhance governance and risk management practices around the globe with a focus on model monitoring, stress testing, capital and corresponding management of pension schemes globally
• Help prepare papers on stress testing, modelling and capital for the Global Pension Risk Management Meeting (GPRMM), Pension Model Oversight Forum (MOF) and various Review and Challenge forums and other senior bank committees

Requirements

To be successful in the role, you should meet the following requirements:

• Undergraduate degree in a numerate subject, such as Mathematics, Physics, Engineering, Finance or a related field.  Actuarial qualification preferred
• Experience of numerical modelling and/or stress testing for defined benefit pension plans, in particular Pillar 2A capital and Bank of England stress testing approaches will be a major advantage
• Experience with typical pension and other post-employment benefits, including their funding
• Familiarity with risk management processes and approaches
• Experience of working in ALM/Capital Management
• Understanding of UK pension regulatory requirements & developments and challenges faced by the pension system
• Understanding of Internal Capital Adequacy Assessment Process (ICAAP) requirements an advantage
• Experience with platform PFaroe an advantage

You’ll achieve more when you join HSBC. 

https://mycareer.hsbc.com/external

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. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by The Hongkong and Shanghai Banking Corporation Limited.

As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of ethnicity, religion, age, physical or mental disability/long term health condition, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by local law in the jurisdictions in which we operate. Within the work place you will have access to various employee resource groups which aim to promote and achieve a healthy work / life balance and support our diversity ambitions. HSBC has in place processes in order to avoid nepotism, which means to avoid creating circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.