Senior Vice President - Model Risk Management

Company Introduction:

We’re home to Asia's most dynamic and vibrant capital markets.
Connecting capital, ideas, inspiration and innovation for deeper, more diverse and liquid global capital markets; providing greater choice and opportunity for our customers, each and every day.

HKEX is a purpose-driven company. Our commitment to the long-term development of our business and our markets is articulated in our purpose: "To Connect, Promote and Progress our Markets and the Communities they support for the prosperity of all."

Job Summary:

This is a senior team lead position, heading the Model Risk team. The role will lead and oversee validation activities of quantitative models and methodologies used across HKEX group functions. Working closely with the rest of the Group Risk teams to provide appropriate expert second-line challenge on the various risk types - market, credit, model and liquidity - that the HKEX as a group is exposed to, and to ensure ongoing monitoring and reporting of the compliance of the first-line activities against both Group and local risk appetite and policies.

Job Duties:

Job Responsibilities

• Strategise and define HKEX Group’s model risk food print. This involves ensuring the right model risk appetite, governance, validation capabilities, policies, procedures and system are in place for the group and its subsidiaries.
• Lead, mentor, and oversee a team of model validation experts, driving the execution of  routine validation exercises across the organisation and ensuring high-quality deliverables.
• Design, implement, and continuously enhance the model risk governance framework, ensuring its adoption across all organisational functions in line with the engagement plan. Direct the regular assessment of models against the governance framework, ensuring their continued effectiveness and appropriate risk categorization according to Group standards.
• Lead annual reviews of methodologies to ensure alignment with Risk Appetite Statements (RAS), policies, regulations, and industry standards. Monitor and report on first-line risk team's actions, providing strategic recommendations for improvement.
• Promote risk awareness across the Group and its subsidiaries and ensure robust compliance through daily and periodic reporting of first-line activities, including timely escalation of material risks and issues to senior management and relevant risk committees.
• Maintain a comprehensive and up to date inventory of models supporting the Group’s critical operations. Continuously evaluate and enhance the model risk governance framework, incorporating industry best practices and evolving Group policies to strengthen the control environment.
• Oversee the validation of model implementations in both production environment and departmental tools, ensuring technical soundness and operational readiness.
• Deliver credible second-line challenge and oversight through daily interactions and periodic committees, constructively scrutinizing changes to existing models, new models, contract analyses, processes, and procedures.
• Oversee model issue management, credibly challenge and validation of remediation actions to ensure effective and sustainable risk mitigation.
• Manage key stakeholder relationships effectively, including regulators, vendor, first-line teams, and third-line defense.

HKEX is committed as an Equal Opportunity Employer. Diversity is one of our core values and we look to support, respect diverse perspectives, abilities, culture and experiences within our workplace.

Location:

HKEX - Exchange Square

Shift:

Standard - 40 Hours (Hong Kong SAR)

Scheduled Weekly Hours:

40

Worker Type:

Permanent