Vice President - Product Control

Some careers have more impact than others.

If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be. HSBC is one of the largest banking and financial services organizations in the world, with operations in 62 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realize their ambitions. We are currently seeking an experienced professional to join our team in the role of Vice President, Product Control

Location- Bangalore and Gurugram

Overview

The Product Control (PC) function within Finance Controllership provides independent control and assurance, product expertise, and commercial insight and guidance to all HSBC businesses engaged in trading activities.

PC is responsible for delivering accurate Profit & Loss (P&L) and Balance Sheet (BS) reporting to the Front Office (FO), and for ensuring that assets and liabilities are recognised and measured in line with the appropriate accounting treatment. This includes analysing the drivers of P&L to provide insight into underlying performance and to assess outcomes against expectations, based on an understanding of the trading portfolio, trading activity, market movements, and other relevant factors.

The team also ensures the Markets Balance Sheet is fully controlled and substantiated. In addition, PC oversees all aspects of Fair Value determination for traded instruments across Markets and Securities Services (MSS), Markets Treasury (MKTY), and, where applicable, more broadly across HSBC

In this role, you will:

• Own end-to-end Product Control for Markets/Markets Treasury, accountable for P&L and Balance Sheet control within the HSBC Risk Management Framework.
• Proactively manage controls, SOX activities, risks/issues, and align FO, Product Control and Controllership to emerging risk themes.
• Deliver timely, accurate daily/monthly P&L with clear commentary and attribution (trades, market moves, reserves/adjustments, valuation impacts).
• Provide constructive challenge and commercial insight to support Front Office decisions and reduce reporting uncertainty.
• Lead Balance Sheet substantiation for PC-owned accounts, including monthly analytical review and BSRS with robust governance/audit trail.
• Identify, investigate, escalate and close breaks to root cause within agreed timelines.
• Partner with Controllership/Valuations/Financial Control/Policy/AC&R to ensure consistent accounting, valuation principles and reporting integrity.
• Drive consistent control standards across sites/teams, remediate gaps, and strengthen operational risk outcomes.
• Shape strategic change (process re-engineering, systems uplift, automation) to improve P&L explain, shorten close, and enhance transparency.
• Lead and develop a high-performing team; manage senior stakeholders/governance and maintain audit and regulatory readiness.

To be successful you will:

• 10-15 yrs with 5 years of relevant experience in a Product Control function, or similar, with a strong control focus and understanding of the Product Control workflow.  Professional qualifications such as CFA, ACA, CPA, FRM etc will be an advantage
• Knowledge and experience of financial market products and their associated risks, data flows, trade lifecycle, accounting principles and valuation techniques/models.
• Knowledge of primary financial statements (Balance Sheet & Income Statement) and notes to ARAs (Fair Value Disclosure, Derivative Assets/Liabilities, Trading Assets/Liabilities)
• Track record of driving change and automation using available tools such as Alteryx, Python, AI / ML etc
• Excellent written and oral communication skills to be able to communicate at all levels of the organisation and different stakeholders in Finance and Front Office
• Ability to influence and work though others to achieve results and maintain strong collaborative partnerships
• Excellent interpersonal skills and able to work with people across different locations and backgrounds.  Experience managing nearshore and offshore teams
• Work independently with minimum guidance and able to work under pressure to meet tight deadlines. Excellent analytical skills and a proactive approach to problem solving, driven and enthusiastic

You’ll achieve more at HSBC

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HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”

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