AVP - Finance Operations

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HSBC is one of the largest banking and financial services organisations 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 realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of Assistant Vice President Finance Operations.

Business: Finance

Principal responsibilities 

• End-to-end process ownership for preparation, review and assurance of all BAU reporting requirements (internal and external).
• Responsible for finalization of RWA’s (production) by ensuring the completeness of adjustments, reference tables, performing detailed analytical review, ensuring completeness for reconciliations and providing timely updates to management on key drivers.
• Attendance and challenge at governance sign off meetings providing assistance to the regional Financial Controller and HCIB Head of Reporting Operations.
• The delivery of reporting requirements to the PRA/ECB covering financial and regulatory returns, ensuring accuracy, and timeliness; including ‘Ad Hoc’ regulator requests.
• Work closely with strategic change programmes (Integrity of Regulatory Reporting) as well as the Controls Office team, ensure these outcomes are embedded into reporting
• External disclosures are fully compliant with listing requirements and relevant standards (e.g. IFRS) and are meaningful to the readers of the financial statements and other external publications.
• Understanding and implementation of control frameworks with continuous efforts ensuing adherence to controls framework and document the limitations, controls weakness in more timely and effective manner.
• Maintain strong collaborative working relationship across Group / HCIB Functions. Also, working closely with various stakeholders like Finance Change delivery, Business and Accounting and Regulatory Policy to understand, plan and deliver change initiatives including new reporting requirements.
• Promote broader strategic initiatives across HCIB reporting including accountability, error & issue management, manual adjustments, variance analysis. quality assurance etc.
• Collaboratively working with various stakeholders for remediating the data quality issues, system issues, performing UAT’s on timely basis. Also, working towards automating/smoothening the reporting activities.
• Promote a culture of continuous innovation, challenge the business on approach and apply knowledge of relevant latest developments.
• Adopt new ways of working such as Agile, particularly in respect of change activities, and encourage the adoption of new technology within the reporting teams.
• Provide guidance to HSBC Finance teams in the preparation and submission of local and Group financial and regulatory reporting requirements.
• Interpreting new financial reporting regulatory financial reporting requirements, designing the associated external disclosures ensuring best practice and compliance with listing requirements and regulatory standards.
• Work closely with strategic change programmes (Integrity of Regulatory Reporting) as well as the Controls Office team, ensuring all issues are appropriately flagged and logged in Helios.
• Responsible for delivering a Regulatory reporting traceability framework and execution approach in alignment to the IRR control standards and design requirements.

Leadership & Teamwork 

• Embed a culture of teamwork within the team and with other teams across and the wider organization.
• Management (planning and coordination) of the entire disclosure and reporting process.
• Management of professional development of team personnel.
• Provide technical expertise and reporting leadership for the reporting teams.
• Feedback from management team as appropriate. Appropriate recruitment, training, on-boarding and career development.

Others: 

Operational Effectiveness & Control 

• Pro-active approach to process improvement and query resolution.
• To continually reassess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• To implement the Group Compliance Policy by containing compliance risk in conjunction with the relevant compliance department. The term ‘compliance’ embraces all relevant laws, rules and codes with which the business has to comply.
• Manage regulatory and compliance matters and the management of operational risk within the reporting teams.

 Major Challenges

• The increasing burden of new accounting, regulatory and disclosure requirements within extremely tight timelines.
• The complex nature of the Group and the emerging and sometimes divergent and ad-hoc ways in which management wishes to review and disclose the financial data present substantial challenges.
• Management and prioritization of deliverables within limited resources and timelines.
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• Delivering complete solutions to financial and regulatory financial reporting requirements to a number of stakeholders and customers within a large and complex Group and in accordance with strict deadlines.

Observation of Internal Controls 

• Maintains and own HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
• Jobholder is an ‘insider’ for dealing purposes and subject to strict controls and confidentiality.
• Complies with Group Finance Functional Instruction Manuals and other regulatory requirements and enforces reporting sites’ compliance with certain areas of the required internal controls.
• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.

Qualifications :

Functional Knowledge

• Qualified accountant (CA/CMA/ACCA or equivalent) or MBA Finance from a reputed institute with 8+ yrs. or M.com or equivalent degree with 10-12 yrs. experience in Regulatory/Financial Reporting/ Analysis.
• Experienced Finance Professional with a proven track record of delivering Regulatory Reporting or Financial Reporting obligations within a large-scale financial services entity.
• Strong technical understanding of requirements underpinning regulatory and/or financial reporting in areas like Capital, Regulatory Reporting, RWA calculations, Leverage, etc.
• Understanding of financial products and how they impact reporting requirement, and more generically the banking business, balance sheet and P&L.
• Strong ability to anticipate, identify and mitigate risks and apply appropriate controls over reporting processes.
• Experience in playing a key role in leading and delivering a complex change project in the Regulatory reporting space and / or track record of delivering continuous process improvements through technology and non-technology solutions.
• Ability to work in a dynamic environment with strong management, decision-making, problem-solving, and interpersonal skills including the ability to listen to and influence stakeholders at all levels, and to build consensus among a wide range of internal and external customers with conflicting priorities.

You’ll achieve more at HSBC

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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