HSBC hired an analytics expert to shape up its compliance team
HSBC has hired Shezad Khan, an analytics expert with over nine years of experience, as its global head of advanced analytics in a bid to shape up its compliance team.
Based out of London, Khan will focus on analytics and regulatory technology, both of which are considered as hot areas for banks. He will be responsible for developing sophisticated machine language (ML) solutions within risk compliance and operational risk, according to his LinkedIn profile. He will also head research and development (R&D) to deliver end to end information to the firm's knowledge systems. At present, he is building a team of experienced data scientists to work at HSBC research lab in Cambridge.
This is the second time that Khan has opted to work for a bank in his long analytics career, although his previous two-year stint at Royal Bank of Scotland as a customer service manager in 2008 was less illustrious. After leaving RBS, Khan stayed clear of the banking industry, one of the late adopters of emerging technologies like analytics and cloud. Instead, he moved into marketing and advertising, where data-driven client insights are highly advanced. In 2010, he joined Aimia Inc. as an insight manager and moved on to work at Omnicom Media Group as a consultant manager almost four years later. He became head of data and analytics at TCC Global in late 2015. Last year in May, he started Fehmida Advanced Analytics Consultancy, where he serves as the managing director.
At HSBC, Khan says he is looking to recruit experienced data scientists to work at HSBC research Lab in Cambridge.
HSBC is one among many banks using technology to reduce the amount of money they spend on compliance. Earlier this week, when UBS announced its results, it said it plans to cut its compliance spending. Similarly, Credit Suisse, at its investor day last November, suggested thousands of compliance and control staff might become redundant when it digitalizes their jobs.
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