Job description Posted 25 January 2023

Traded Risk Quant Analyst HSBCJP00044370


Until end of 2023 with possible extension

Up to £950 per day via an approved umbrella company

This is a role responsible for supporting the development and maintenance of risk models and methodologies for more accurate traded risk measurement and management. The core objectives are to:

  • Develop/Enhance VaR, RNIV models in Rates and Credit as per internal risk and regulatory requirements especially in light of the IBOR transition programme
  • Contribute to the improvement of these models through assessment of impact, model validation, and helping document changes for internal and external use
  • Understand both regulatory and business requirements, ensuring that the models are fit-for-purpose
  • Proactively build tools in Python to test the proposed models, to formulate requisiste analysis and to measure the impacts of model change
  • Be responsible for Model Life Cycle - starting from defining the objectives to model development/testing, model documentation, on-going model assessment and validation as well as internal & regulatory scrutiny
  • Coordinate projects dedicated to ensure consistency across sites

Principal Accountabilities: Key activities and decision making areas


  • Assess and validate the performance of risk models using real world data. The model could be an existing or a new model. Understand the features, assumptions and limitations of the model, propose a validation approach, identify target market data for the purposes of validation and undertake the validation within agreed time lines.
  • The risk models may include Value-at-Risk (VaR), Stressed VaR, Risk Not In VaR (RNIV), Incremental Risk Charge (IRC), Hair-cuts, EEP, Stress Testing, Fundamental Review of Trading Book (FRTB), Capital Models
  • Build python based prototypes and risk library
  • Participate in adhoc projects as they arise from time to time and provide any information relating to in a prompt and coherent fashion.
  • Suggest improvements to the existing frameworks with a view to automate systems and help implement agreed changes
  • Identify areas for efficiency improvements, automation and enhanced controls in existing processes. Document proposed changes and agree with the on-shore process team prior to implementation. Document all process changes and improvements to reflect the latest process
  • Being able to clearly explain model details to other areas of the bank in non-technical language, and assisting in the on-going usage of these models in a day-to-day risk management setting, e.g. helping to explain significant model value changes

  Customers / Stakeholders 


  • Business with traded risk exposure
  • Traded Risk Functions
  • Finance
  • Independent Review Function
  • Audit

  Qualifications and Technical Skills (For the role – not the role holder. Minimum requirements of the role.)


  • Qualification in Maths/Engineering/Science/Finance/Business Management or previous experience in risk management
  • Good understand pricing and risk management of Rates products
  • Professional qualifications such as FRM/PRM/CFA Levels are an added plus
  • Good understanding of statistics
  • Python programming
  • Good understanding of market risk measures and derivative products


  Non-technical soft skills    

  • Strong analytical skills
  • Competent in the production of information, and the ability to process and analyse large volumes of data
  • Ability to work under pressure and to tight time-lines is essential
  • Open personality and effective communication skills, ability and flexibility to work in an international team
  • Ability to write clear and understandable documents
  • Desire to learn and grow in a challenging environment