HSBC - Quantitative Developer - Product Development (5-10 yrs)
Business/Function : Global Equities - Equities Quant
Role Title : Quantitative Developer - Product Development
Customer Segment & Location : All customers - global
Role Purpose (overall high level summary of the role) :
- Development and validation of new products to support complex new trades
- Development of new models and validation of reserves methodologies
- Participate in the implementation of the model governance framework
Principal Accountabilities :
Key activities and decision making areas :
Impact on the Business :
- Developing and enhancing the available products and models available to trade
- Enhance reserve methodologies
- Enhance model performance monitoring
Customers/Stakeholders : Resolving issues raised by users and IT teams in using the Quant libraries.
Leadership and Teamwork :
- Assisting other members of the Equities Quant team with technical issues.
- Assisting IT with any integration issues they may have with our libraries.
Operational Effectiveness and Control : Following internal and regulatory guidelines for Releases and Documentation of the Quant libraries and tools
Typical KPIs and Targets :
- Timely completion of model development tasks with little or no bugs
- Positive feedback from the trading, structuring and valuation control desks
- Successful release of new models in quant libraries
- Positive feedback from Trading/Structuring/IT
- Successful integration of our libraries by IT
- Positive feedback
- Positive feedback
- Quicker turnaround for IT
- Define and run the relevant tests
- Being able to roll back to a different version of the codebase, thanks to a robust versioning
Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities) :
- Programming in a professional standard ensuring industry good practices are followed.
- Development and deployment of features/bug fixes/components within reasonable and predictable timelines
- Proper monitoring and follow up of feedbacks/requests
- Continuous and proactive interaction with the relevant stakeholders
Role Context (The environment and operating conditions of the role including the extent of guidance and authority) :
Provide support of product development tasks :
- Develops new products with their appropriate model, model calibration tools and risks.
- Develops and maintains complex products such as Vol Caps, Quantitative Investment Strategies, Collateralized Loans, new one-off trades
- Defines model reserves methodologies in collaboration with Product Control and Trading. Monitors these reserves. Contributes to their industrialization
- Develop and maintain a testing framework for new products and models
- Day to day support / Bugs fixing
- Assist in the release of the Quant libraries and tools
- Assist in deploying the product development tools to users
Management of Risk (Operational Risk / FIM requirements) :
- Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.
Observation of Internal Controls (Compliance Policy / FIM requirements) :
- Maintains HSBC internal control standards, including timely implementation 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)
Knowledge & Experience / Qualifications (For the role - not the role holder. Minimum requirements of the role.) :
- A degree based on Mathematical Finance from a top tier university
- Experience in model development in derivatives (at least 5 years)
- Advanced C++ (at least 5 years)
- Scripting and Python experience