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HSBC Global Head of Stress Testing (“ST”)
Role Structure
The role is a Senior Managing Director role which reports directly to the Group Treasurer and is a key role within the Global Treasury management team. Global Treasury sits within Global Finance. The role is based in London with a hybrid working pattern. The Global Stress Testing capability has a significant presence in London, India and the regions (totalling circa 200 FTE) all of which sit under the direct organisational structure of the Global Head.
Role Purpose
The Global Head of ST is a senior leadership role within Global Treasury responsible for the end-to-end design, governance and execution of stress testing and scenario analysis across the Group, including associated regulatory submissions and senior stakeholder engagement. The position holder will lead Group ST governance and is the primary liaison with the Bank of England and Prudential Regulation Authority.
For regional stress testing, the regional treasurer will lead regional governance and be the primary liaison with the local regulator, supported by regional heads of Capital Management & Stress Testing and the Global Head of ST as required.
This role is pivotal to how the Group understands, assesses and responds to risk under severe but plausible conditions. The output shapes risk and balance sheet decisions and as such the Global Head of ST is responsible for ensuring stress testing outputs are credible, decision-useful and aligned to the Group strategy, the markets in which HSBC operates, and the evolving external environment (macroeconomics, geopolitics, regulation and political developments).
This is a new role in the organisation design, reflecting the scale, visibility and strategic importance of stress testing to the Group’s risk management, capital and liquidity planning, recovery and resolution capabilities, and external credibility with regulators and rating agencies.
Key Governance and Stakeholders
The role holder will regularly present and/or provide challenge and insight to senior internal and external stakeholders, including:
- Group Boards / Board Committees and Sub-Boards
- Group OpCo / Group Risk Management Meeting / Group Finance Management Meeting
- Regulators (including as primary liaison with the Bank of England and Prudential Regulation Authority for Group stress testing matters)
- Rating agencies, auditors and other key stakeholders
For regional stress testing, regional treasurers lead regional governance and local regulator engagement, supported by regional heads of Capital Management & Stress Testing and the Global Head of ST as required.
Principal Accountabilities
- Group-wide stress testing strategy, governance and delivery
- Own the Group stress testing framework, ensuring it is robust, well-governed and fit for purpose across multiple legal entities, businesses and risk types.
- Lead the design, development and execution of Group stress tests and scenario analysis, ensuring outputs are timely, accurate, well-controlled and decision-useful.
- Promotes the embedding of stress testing into key Group processes and decisions (e.g., capital and liquidity planning, recovery and resolution planning, risk appetite and strategic planning).
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Regulatory engagement and external credibility
- Act as the primary liaison with the Bank of England and PRA for Group stress testing and scenario analysis activity, including submissions, feedback management and ongoing supervisory engagement.
- Maintain strong relationships with rating agencies and auditors on stress testing-related topics, ensuring HSBC’s approach is transparent, credible and well evidenced.
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Leadership of a global function (c.200 FTE)
- Lead and develop a global organisation across London, India and the regions, building a high-performing, inclusive culture with strong succession and talent pipelines.
- Drive a “one Treasury” ethos, partnering effectively across Treasury, Finance, Risk, businesses and Government Affairs.
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Scenario capability aligned to the external environment
- Ensure scenarios reflect the realities of the external environment and HSBC’s footprint, including:
- macroeconomic cycles and market dynamics;
- geopolitics and conflict risk;
- political and regulatory developments;
- emerging and non-linear risks.
- Ensure scenarios reflect the realities of the external environment and HSBC’s footprint, including:
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Operational effectiveness, controls and non-financial risk
- Maintain a strong control environment across stress testing processes, data, models, governance and reporting, aligned to HSBC Non-Financial Risk Management expectations.
- Ensure policies, procedures and documentation are current, auditable and consistently applied across the Group.
- Drive continuous improvement in efficiency, resilience and quality through process simplification, automation and technology.
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Technology, data and transformation (including AI)
- Sponsor modernisation of stress testing infrastructure and analytics, leveraging new technology (including AI) where appropriate to improve speed, insight, control and scalability.
- Partner with technology and data teams to improve data lineage, transparency and repeatability of results.
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Contribution as a senior Treasury leader
- As a senior member of the Global Treasury leadership team, the role holder will:
- Represent Treasury to senior internal and external stakeholders.
- Understand, contribute to and constructively challenge the wider HSBC and Treasury agenda.
- Support delivery of Treasury priorities, including cost and headcount outcomes, and identify cross-Treasury opportunities.
- Work with Treasury/Finance/Risk/Government Affairs to assess regulatory change and support appropriate engagement and responses.
- As a senior member of the Global Treasury leadership team, the role holder will:
Organisational Structure
The Global ST function is currently organised into three sub-functions, with primary responsibilities as follows:
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ST Delivery
- Responsible for (i) co-ordination and delivery of “bottom-up” stress tests, including regulatory submissions of significant data, question responses, and basis of preparation, (ii) production and submission of monthly, quarterly and annual STDF, a very granular BoE report, including development, execution and assurance of control framework to appropriate standards, (iii) Group ownership/development of the management action database and early stress action plan, including co-ordination of management action selection processes and production of the Group Recovery Plan management action section, (iv) development, oversight and execution of Valuation in Resolution, (v) ST compliance with HSBC Non-Financial Risk Management expectations including stress testing policy/procedures and engagement with second and third-lines of defence, and (vi) regulatory feedback/query tracking/responses.
Scenario Analysis
- Responsible for (i) economic scenario production and expansion for numerous HSBC use cases (e.g. stress testing/scenario analysis, Group Recovery Plan, IFRS9, Traded Risk, climate), (ii) top-down macro and climate scenario analysis execution and infrastructure development, including support of Financial Resource Plan/forecast sensitivity analysis, results messaging, Resolution Assessment Framework/Group Recovery Plan, (iii) economic risk horizon scanning (early warning indicators, macroeconomic/conflict trackers), (iv) climate modelling development and execution, including nature, with various use cases (e.g. Internal Climate Scenario Analysis, business portfolio steering, risk metrics).
Credit Execution
- Responsible for (i) calculating Expected Credit Losses and credit risk RWAs for any stress test, (ii) developing the infrastructure to support this activity and meet regulatory requirements, (iii) Valuation in Resolution support (specifically “Val 2”), (iv) Monthly/quarterly Retail STDF actuals reporting to BoE.
Requirements
To be successful in the role, you should meet the following requirements:
- Broad-based banking experience including in Stress Testing, demonstrating an excellent commercial understanding and preferably also familiarity with Treasury disciplines (e.g. capital, liquidity, interest rate risk in the banking book, recovery and resolution planning). Climate knowledge advantageous.
- Proven record of disciplined delivery as leader of a large team, including in organisational change and technology development. Up-to-date knowledge of the latest technology developments (including AI) and ability to leverage them.
- Excellent verbal and written communication skills with experience of preparing and communicating key messages and recommendations to senior management, regulators and other stakeholders.
- Strong influencing, interpersonal, negotiation and conflict resolution skills. Ability to foster strong and collaborative partnerships with key stakeholders.
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