Job description Posted 21 February 2022

Business Analyst – Traded Risk Transformation

£500.00/Day PAYE - £641.60/Day Umbrella

London – Canada Square

Contract until 31/07/2022

If you’re looking for a career that will help you stand out, join HSBC, and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further. We are currently seeking an experienced individual to join this team in the role of BA – Traded Risk Transformation


Role Summary

Traded Risk Transformation teams are responsible for the delivery of end-to-end projects across market risk. Business Analysts are at the centre of how Global Transformation shapes, delivers and embeds change working with the business and our delivery partners. 

Primarily, the Business Analyst will be responsible for managing and executing the analysis activity within one or more of the priority programmes. They will support the Requirements Management, Design, Change Management and Implementation Management activities during project delivery. Business Analysts often act as experts across multiple projects and programmes simultaneously, guiding the various teams through the various phases. 

Alongside project delivery responsibilities, the Business Analyst will work closely with the Project Management Office, Process Consultants and Business Consultants to ensure analyst resources are utilised effectively and resource supply meets the needs of upcoming project demand.

The assignment for this role will on a Libor Transition Program where the role holder will focus on Global requirements and delivery of the strategic infrastructure and new operating model. This will require the role holder to work on time series data and Market Risk shocks and scenarios for VaR and some Stress Testing.

The LIBOR Transition program is a front office funded project and there is global industry-wide consensus to move away from referencing LIBOR rates and to adopt a new suite of risk free rate curves (RFRs) and associated products.


Vision of the change in IBOR Transition program

·  There is global industry-wide consensus to move away from referencing IBOR rates by the end of 2021 and beyond.

·  Adopt a new suite of risk free rate curves (RFRs) and associated products from 2019 to 2022.

·   Enable trading in financial products based on the new RFRs (SOFR, SONIA, €STR, SARON, TONAR, etc.) in a manner and timeframe consistent with FO.

·   Cover all HSBC sites and all RFRs (including on-shore & off-shore IR curves) based on Front Office

·  Business analysis

· Develop the key artefacts required under Agile Framework (including high-level business requirements/EPICs & meaningful JIRA’s, solution design, functional and non-functional requirements), to a clear and unambiguous standard, as a solid foundation (Complete Definition of Ready) for implementation by Software Delivery.

· Promote visibility, understanding and approval of the requirements with all regional stakeholders at all stages of initiation and definition; obtain sign-offs

·  Liaise with Software Delivery (SWD) in the specification, production and subsequent software development

· Ensure that the integrity of the risk systems is maintained by supporting strategic requirements

Project management

Support the Project Manager to:

· Track progress against project plan

·  Develop the test strategy

·  Provide regular status updates

·  Escalate risks, issues and dependencies impacting the project to the Project Manager


·  Develop the test strategy in conjunction with IT and business stakeholders

·  Liaise with SWD to provide test plans, arrange test environments and testing support.

·  Liaise with users to confirm test cases and acceptance criteria. Ensure suitable UAT test plans are constructed.

·  Perform sanity checks that the requirements are satisfied

·  Ensure all testing is done in an orderly and efficient way. 

·  Ensure signoff is obtained.

Stakeholder engagement

·    Constructive engagement with key stakeholders i.e. risk management, risk control, Traded Risk transformation component PMs/ BAs, Software delivery teams, FO Project team, design architects etc.

Status reporting

· Provide periodic status updates regarding project status, test completion status, RAID Log, in the tools and templates selected by the wider SWD and Transformation team

· Maintain HSBC Internal Control Standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.

· Be aware of the Operational Risk scenario associated with your role and act in a manner that takes account of operational risk considerations.


  • Knowledge of asset classes and their implications in terms of market risk. Specifically looking for experience/exposure in Interest Rates (IR) and Foreign Exchange (FX).
  • Understanding of market risk measures used for risk management especially focused on Time series and Scenario generation methodologies.
  • Business analysis experience in Market risk context with exposure to risk factors, historical time series and historical simulation scenarios.
  • Previous experience working closely with software delivery (i.e. Risk IT).
  • Strong communication skills.
  • Ability to adapt in a fast moving and often evolving environment.
  • Interpersonal, verbal and written communication skills are vital for this role
  • Team player with good interpersonal and stakeholder management skills.
  • Willingness to dig into details; appetite, enthusiasm and desire to acquire technical and systems knowledge.
  • Educated to at least degree level
  • Additional qualifications in Risk would be useful
  • Additional qualifications in business analysis would be useful


If you think you are up for the task and feel you meet the above criteria or interested to hear more information, please contact me on