Banking & Financial Services

Senior Business Analyst XVA

Not Specified

Senior Business Analyst (XVA)
Location – London
Daily rate – £600/day PAYE – £770/day Umbrella
Start date – ASAP
Contract – 12 Months

Our financial services client is currently seeking an experienced Senior BA who has Product Control (XVA) and Agile experience to join their team. Under Basel 3 CVA framework, HSBC wishes to comply with RWA rules expected to come into force on 1 Jan 2023 and achieve the “SA-CVA” capital treatment globally.

To meet this deadline, and to make desirable strategic changes, the XVA programme is a multi-year programme to:

  • Transfer XVA calculation from Product Control (PC) to the Front Office (FO)
  • Implement a new F2B architecture, using strategic components to calculate and store results in a central data repository (“Vault”) for use by all the bank’s reporting and risk management functions (so PC, FO, Traded Risk etc.)
  • Implement a new operating model for PC, to standardise the approach to supporting FO management of XVA and make it more like the support of any risk-taking business trading financial products.
  • PC will consume counterparty valuation and risk measures from Vault (as the EOD results data store), and reference data from appropriate sources, for use in various ways:
  • Valuation information, including contextual information (e.g. counterparty rating) for use in reporting the P&L and validating the balance sheet.
  • P&L attribution, risk and contextual information (e.g. market movement, counterparty rating) for use in explaining the P&L, writing commentary and providing support and challenge to the trading desk.
  • Valuation and risk information, including contextual information (e.g. market data, PD, LGD, EPE, ENE etc.) for use in IPV and FVA activity to validate and adjust the balance sheet.

The role holder will work on HSBC’s XVA programme to significantly change the whole XVA process while working as part of an Agile development team.

Key Responsibilities:

  • Producing requirements (stories) that are refined (groomed) and understood by developers. This will require the BA to:
    • Gather user requirements where known and document them as deliverable stories.
    • Help to develop and agree the future operating model, and use this to discover and document new requirements where needed.
    • Interact with other pod members, to ensure the necessary detail is captured to estimate the story
    • The scope of the processes, and hence stories, will encompass the full breadth of PC and hence (depending on skill fit within the team) may include IPV or FVA processes, P&L explain, P&L and balance sheet validation and adjustment.
  • Working within the pod structure to story point, prioritise, develop and test that the data and functionality delivered does work as intended and provide continuous feedback to the pod.
  • Analyse and communicate issues and, with the help of pod members and other support outside the pod, seek solutions to problems as they arise.
  • Responsible for changing the MSS Finance Infrastructure in line with Strategic Goals
  • The role holder will work very closely with the finance change teams, who will provide significant & frequent input and guidance. They will also interact with colleagues in PC, Finance IT, Front Office IT teams in multiple locations.
  • In addition, the role will also cover any local requests which support growth, efficiency and control.

Key Requirements:

  • Product control knowledge and experience (XVA) – MUST HAVE
  • Project Delivery experience of at least two years (either through line role, or as part of project team)
  • Preferably with some hands-on experience in delivering XVA related change.
  • Preferably with some hands-on experience in delivering strategic cross- projects aimed at improving data quality, efficiency and standardization
  • Prior working knowledge of MSS (either line or/ project role)
    • Key knowledge domain is product valuation principles, risks and P&L explain
    • Preferably demonstrate knowledge of derivative valuation and valuation adjustments
  • Demonstrate solid understanding of Project Lifecycle,
    • Experience different delivery models (particularly AGILE)
    • Understand importance of generation of clear project artefacts
  • Able to build relationships and influence others, including business heads, senior managers, business users and technical experts
  • Strong verbal and written communication skills, communicate effectively with all stakeholders
  • Strong analytical skills, problem solving and an attention to detail
  • Delivery focused with attention to detail, ensuring tasks are completed on time and to a high standard of quality
  • Ability to work both autonomously and to contribute to a team, show willingness to increase responsivities within team
  • Self-motivated with a proven rapid learning capability in a changing environment
  • Fully qualified accountant (desirable) with a strong knowledge of MSS Products and their valuation.

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 /

Employment Type Contract

Advertiser Type Agency