Head of IFRS 9 Operations (IPAC)

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The role holder is responsible for the overall IFRS 9 Operations. The Key responsibilities include:

• Own end-to-end delivery of Expected Credit Loss ECL and Current Expected Credit Losses (CECL) (US) calculation, analysis, reporting, and disclosure support.
• Build and sustain strong stakeholder partnerships with CROs, CFOs, Financial Controllers, and Risk/Regulatory leads across global, regional, and site levels, ensuring IFRS 9 requirements are understood and met.
• Drive innovation and simplification across IFRS 9 and Group Financial Reporting, improving outcomes, efficiency, and control by using AI tools.
• Lead the design and execution of strategic change initiatives impacting IFRS 9, including Finance Data Solution (FDS), Future State Architecture (FSA), Regulatory Excellence, and Basel 3.1 reforms.
• Engage, motivate, and develop teams through proactive resourcing, training, capability building, and retention planning.
• Maintain a strong control environment, ensuring compliance with SOX controls, Group accounting policies, and data/process/system standards, and managing internal and external audits effectively.
• Act as business owner for the Impairment Calculation Engine, ensuring it operates in line with HSBC IT standards and policies.
• Serve as Deputy to the Global Head of Financial Reporting, taking overarching accountability for IFRS 9 and representing the function in relevant governance and decision-making forums.

Environment

• The Global IFRS 9 team is a joint venture between the Global Finance and Risk teams and works in close collaboration with both Finance and Risk. The role holder is required to navigate through a constantly changing environment and deliver the ECL results within challenging timelines.

Guidance and authority

• The Global IFRS 9 team is responsible for the calculation and reporting of ECL for almost all entities within the HSBC group.

In this role, you will:

Impact on Business:

• Own and deliver the IFRS 9 ECL runbook, covering calculation, analysis, and reporting.
• Support the Head of IFRS 9 Disclosures in delivering disclosure requirements for external financial statements and other external publications.
• Own and deliver FINREP credit disclosures.
• Identify and interpret accounting and regulatory changes and assess impacts on ECL, including data, process, system, and control implications.
• Manage change delivery across data, processes, systems, and controls, including impact assessment and testing.

Typical KPIs and Targets:

• Deliver timely, accurate calculation and reporting of ECL.
• Ensure external disclosures fully comply with listing requirements and applicable standards and are clear and meaningful for users of the financial statements and other external publications.
• Ensure regulatory financial reporting disclosures fully comply with regulatory requirements and relevant standards.
• Adhere to accounting and regulatory guidelines within agreed timelines.
• Implement production changes in line with agreed expectations.

Stakeholders:

• Build and maintain strong relationships with senior stakeholders across Finance and Risk, acting as a trusted partner to both functions.
• Proactively identify and address stakeholder issues and concerns, resolving them promptly and effectively.
• Establish robust communication channels across stakeholders to enable timely information flow and a continuous feedback loop.

Typical KPIs and Targets:

• Positive feedback and engagement from stakeholders
• No escalations and concerns from senior stakeholders
• Timely and effective engagement on all key initiatives and forums

Innovation & Transformation:

• Lead delivery of strategic IFRS 9 initiatives [e.g., FDS, FSA, RegX, Basel 3.1 (B3.1R)], overseeing end-to-end design and implementation.
• Drive innovation across IFRS 9 and GFR, identifying opportunities, evaluating solutions, and delivering outcomes via innovation support teams.
• Embed a continuous improvement culture by proactively spotting opportunities and streamlining end-to-end (E2E) processes.

Typical KPIs and Targets:

• Successful completion of the implementation within agreed timelines
• Implementation of technology solutions for all manual-intensive, critical and error prone process steps
• Number of opportunities identified, logged, and implemented.

People:

• Retain, attract, and develop talent.
• Build an energized, engaged, and empowered workforce.
• Enable people to continuously develop Future Skills.
• Holistically Human – promote and support well-being and D&I

Typical KPIs and Targets:

• Key talent attrition within target limits
• Continuous engagement through Townhalls, exchanges, 1:1s, etc
• Future skills acquired / training completed.
• Snapshot survey results.

Operational Effectiveness & Control:

• Ensure compliance with Sarbanes Oxley requirements (‘SOX’)
• Create and maintain a culture of risk awareness and ensure a robust control environment.
• Effective management of all the internal and external audits and assurance engagements
• Adherence to Group Functional Instruction Manual (FIM), policies, procedures, and guidelines

Typical KPIs and Targets:

• All procedures and controls adhered, resulting in compliance with SOX.
• Risk and control environment in line with HSBC risk framework.
• Minimal audit observations
• No deviations

Major Challenges:

• Understanding accounting and regulatory developments, absorbing concepts, defining the approach, and developing solutions independently, Understanding complex data flows, risk models & methodologies, and regulatory and accounting requirements in a constantly changing environment
• Delivering BAU and other initiatives within challenging timelines in a continuously changing and ambiguous environment
• Collaborating and communicating with senior stakeholders, peers, and teams across time-zones
• Understanding complex data flows, risk models & methodologies, process and system and implementing uplifts to the operating model
• The volatile external environment requires frequent changes, manual interventions, and multiple iterations to deliver ECL and disclosures on a timely basis.

Management of Risk:

• The role holder is required to have a good understanding of HSBC risk framework and guidelines. The jobholder should continually re-assess the operational risks in line with the defined framework, taking account of changing global economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new processes.

Role Dimensions:

• Headcount reporting to this role       Direct:  5-7         Indirect:       55-65    Total:    60-70

To be successful you will:

Technical Capabilities:

• Experienced Finance/Risk professional with 20+ years in financial services domain with a proven track record of leading Finance / Risk operations.
• Knowledge and understanding of IFRS 9 expected credit losses accounting requirements
• Strong financial control experience to continue strengthen the IFRS 9 processes and controls
• Understanding of credit risk, regulatory and accounting concepts including IFRS 9, PD, LGD, EAD, etc.
• Exposure to emerging innovation and transformation concepts with a proven track record of driving innovation
• Sound knowledge of risk management concepts in a Finance environment.
• Strong understanding of the concept of data including sourcing, lineage, and controls

Personal Capabilities:

• Ability to understand business strategy, translate them to team goals and lead a team of qualified professionals to deliver on the goals.
• Ability to communicate complex information in a succinct and credible manner, both orally and written, directly with Senior Management.
• Ability to navigate through ambiguity and lead and influence colleagues across the HSBC Group.
• Ability to work in a dynamic environment and adapt to frequent and multiple changes.
• Ability to manage a complex process within resource and time constraints.
• Ability to nurture and develop a team of future professionals.

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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