Job description Posted 15 January 2023

Financial Engineer HSBCJP00044245

London 1 day per week

6 months with likely extension

£600-£700 per day via an approved umbrella company

GRA Financial Engineering is a part of HSBC’s Global Risk Function, which provides solutions using analytics, tools, and models to identify measure and manage key risks. 

  • The Financial Engineer is responsible for Design, build and implementation of GRA Traded Risk Quantitative library. The success of this library will be measured against the time to deployment, time of turnover on bugs, test KPIs
  • Delivery of a coding environment that is easy to use, is robust and can be fully re-used
  • Managing and reducing the time to develop new models with in Traded Risk
  • Work closely with GRA Quant Analysts, Risk IT, Transformation and Front Office to create synergies across different functions and departments

Principal Accountabilities: Key activities and decision making areas

Typical Targets and Measures

  • Responsible for Implementing software strategically, following best practice to ensure that solutions address the evolving business and regulatory requirements;
  • Work closely with the Quant Model teams to build software solutions that are practical, workable and comply with accounting, regulatory or other requirements;
  • Ensure FIM and other applicable accounting/regulatory requirements are met. Liaise with Internal/External audit and regulators where necessary;
  • Maintain focus on process optimisation and identify opportunities to enhance cost efficiency where possible (e.g. automation, outsourcing, centralisation etc).

All issues identified and escalated with an appropriate action plan

Reduction of EUC tools within the agreed timeframe.

  •   Customers / StakeholdersTraded Risk
  • Risk IT
  • GRA IT
  • Financial Risk Transformation
  • Front Office Quant Developers
  • Internal and External Audit


 

  Prompt solutions to problems and management of user expectations

Feedback on an individual’s contributions and behaviors will be sought on a regular basis

  •   Leadership & TeamworkWork with all other areas within the Global Risk Analytics teams;
  • Foster a strong working relationship between the Quant Model team and other stakeholder teams;
  • Liaise and work together with key stakeholders;
  • Required to communicate effectively with people at various levels of seniority and different backgrounds in a challenging but collegiate environment.
  • Actively engage with other team members for development projects and contribute to team discussion.
  •  

 

  • Actively engage with other team members for development projects and contribute to team discussions on development issues.

Demonstrate high quality teamwork with other teams globally.

Positive feedback from team members.

Regular expression of opinions in team meetings.

  •   Operational Effectiveness & Control Maintain HSBC internal control standards, including timely closure of internal and external audit points together with addressing issues raised by external Regulators;
  • Understand and ensure compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the areas under management; specifically, Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy;
  • Ensure that there is full compliance with the Global Markets FIM.

To act with a high levels of integrity, conduct and performance against ethical standards.

Sound commitment to quality and competence.

Adherence to HSBC Code of Conduct and team development guidelines and policies.

 

Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)  

  • Manage the time-bound quantitative library project including development and ensuring that regulatory standards are met.
  • Rapid response to issues as they arise. Ability to drive quickly to the heart of an issue and propose appropriate solutions.
  • Realise efficiency gains through the automation and streamlining of tools and processes.
  • Managing work and processes across multiple sites.
  • Maintaining discipline in coding practice while ensuring timely delivery of end solution

Role Context (The environment and operating conditions of the role including the extent of guidance and authority)

The Financial Engineer will work closely with other areas within GRA and Traded Risk.

The role holder is required to demonstrate suitable autonomy in decision-making, and will need to respond to regulatory and audit challenge.

The jobholder will be involved in multiple projects across different technologies, often simultaneously.

  Management of Risk (Operational Risk / FIM requirements)

The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.

Management of operational risk for the Development team is an integral part of the role profile by maintaining good discipline in coding and team working practice.

  • Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which one is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy. Observation of Internal Controls (Compliance Policy / FIM requirements) Maintains HSBC internal control standards, including timely resolution of internal and external audit points together with any issues raised by external regulators.
  • Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.

Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. in USD’000)  

  • HSBC trades the full scope of global markets products including but not limited to spot and forward foreign currency sales and purchases, money market placements and deposits, investment and trading securities, as well as derivatives including interest rate swaps and options, currency options, currency swaps, structured credit products, credit default swaps, local currency derivatives and equity derivatives. There is considerable accounting, analytical, and market specific complexity in order to appropriately value financial market products.

 

  • The team size overall is around 30-35 people spread across multiple sites

Headcount reporting to this role Direct: 0 Indirect: 0 Total:

0 Knowledge & Experience / Qualifications (For the role – not the role holder. Minimum requirements of the role.)               

Qualification:

 BSc / MSc in a quantitative subject

Experience:

 Advanced Experience of application and software development.

 Basic knowledge of finance, particularly quantitative finance.

 Experience of Risk or Valuation Models.

 Good understanding and appreciation of Regulatory requirements and audit requirements.

 Experience of interacting with internal and external stakeholder groups (Business, Risk, Audit, Compliance, Regulators).

Skills:

 Strong knowledge of Python programming language.

 Strong knowledge in object oriented design, functional programming, software architecture and algorithms.

 Knowledge with software development lifecycle/methodologies.

Knowledge of REST, gRPC, Apache Beam, Docker and Kubernetes is a nice to have.

Knowledge of Machine Learning fundamentals is a nice to have.

Experienced with Dash or other UI frameworks is a nice to have.