Financial Reporting and Tax Risk Vice President

Job title: Financial Reporting and Tax Risk Vice President

Purpose of the role:

• The Financial Reporting and Tax Risk team provides effective stewardship of our external and tax reporting through strong subject matter expertise, with oversight of the control environment through timely and robust review and challenge. This function forms part of the second line of defence with a critical role in our firm’s risk management, and is newly structured as a centralised global team bringing together different elements of risk stewardship in Global Finance for the first time.
• The role holder will support the execution of Financial Reporting and Tax Risk, which includes effective risk management through oversight of the framework, policy, standards and processes that supports the assessment of HSBC’s management of Financial Reporting and Tax Risk.
• The role holder will support in ensuring that the approach to Financial Reporting and Tax Risk is appropriately defined and scoped, promoting and implementing synergies and efficiencies while securing an optimal and best in class control environment for HSBC.
• The role holder will serve as a delegate Risk Steward for Financial Reporting and Tax Risk in HSBC. In this capacity the role holder should support in challenging the first line Process, Risk and Control owners to ensure that risk management activities are working effectively. This includes the following activities as per the Group’s Risk Management Framework:
• Provide subject matter expertise, advice, guidance, and effective challenge to Process, Risk and Control Owners;
• Support in setting the Risk Appetite, and oversee risk appetite monitoring;
• Development, own, and monitor a comprehensive set of clear and concise policies that outline the key principles and minimum requirements applicable to the management of the risk, and monitor compliance;
• Report on the risk and control profile, including impacts of external environment changes, emerging risks and changes to the business strategy;
• Work with the businesses and functions to understand the impact of emerging risks that require changes to controls, resources and business operations to ensure they remain within appetite;
• Support definition of the Risk and Control Library, including minimum control standards, with input from Risk Owners, and Control Owners, specifying key risks and key controls and providing guidance on continuous monitoring expectations;
• Recommend Risk and Control Assessment (RCA) scoping, and challenge where this is not appropriately applied;
• Challenge Risk and Control Owners on risk and control management, including inherent risk, residual risk, control effectiveness ratings, issues, actions and events; and
• Review, challenge and agree the Financial Reporting and Tax Risk assurance plan. This will include identifying where target or demand based assurance is required.

Governance and Committee Memberships (membership of ExCos, Risk Management Meeting)

• Input into reporting to relevant governance forums on the status of Financial Reporting and Tax Risk

In this role, you will:

Principal Accountabilities and Responsibilities (e.g., for Business, Customers and Stakeholders; internal control environment, etc.)

• Support in designing and implementing an appropriate framework for the effective management of Financial Reporting and Tax Risk, including policy, definition of minimum control standards, scoping and ongoing oversight for all relevant categories of reporting.
• Support execution of required second line of defence responsibilities under the HSBC Non-Financial Risk Framework for Financial Reporting and Tax Risk, including production of a consolidated view of the effectiveness of Financial Reporting and Tax Risk management.
• Support in ensuring that HSBC continues to maintain compliance with regulations relating to Financial Reporting and Tax Risk

Customers / Stakeholders

• Support in management of the relationship with Financial Reporting and Tax Risk key stakeholders and timely delivery of key milestones
• Support in engaging and influencing the various responsible and accountable parties for Financial Reporting and Tax Risk, including Process Owners, Risk Owners, Control Owners, and Enterprise Risk Management in order to ensure proper implementation of the Financial Reporting and Tax Risk framework

Leadership & Teamwork 

• Supporting coordination of the Financial Reporting and Tax Risk team, including interactions with 1LOD Finance NFR teams in Group and Regions
• Supporting development of an effective global team through communication, performance management, development plans and reward/recognition practices
• Talent management, leadership development and succession planning
• Cultivate an environment that supports diversity and inclusion

Operational Effectiveness & Control

• Supports ownership and maintenance of the Financial Reporting and Tax Risk policies
• Ensure appropriate dissemination of the policies at all levels
• Owns delivery of relevant change initiatives set and adhere to appropriate timetables for ad hoc work

Major Challenges

• The jobholder is required to execute excellent stakeholder management and work closely with teams across time zones
• Designing and embedding improvements in the management of Financial Reporting and Tax Risk across the Global Business, Global Functions and regions.
• Create a real sense of teamwork and collaboration across the Financial Reporting and Tax Risk second line of defence team
• Maintain knowledge of the financial environment and internal/external changes that impact the programme

Role Context

• The role will report to the Head of Financial Reporting and Tax Risk
• To be successful, the role holder will need to work in partnership with the Global and Regional Finance 1st Line of Defence, as well as with Enterprise Risk Management and Non-Financial Risk leadership.
• Awareness of financial environment and internal/external factors, e.g. Enterprise Risk Management, Legal, Compliance, Information Security and Internal Audit requirements
• The job holder is required to contribute to maintaining an excellent relationship with internal stakeholders

To be successful you will:

Functional Knowledge

• Exceptional drive, commitment and focus in operational excellence
• Relevant Finance and Control knowledge and experience working in multiple legal entities
• Detailed understanding of the Finance operating model at Group, Business and Country levels
• Proved experience leading, implementing and/or improving end-to-end processes
• Solid leadership skills with experience in managing people in a large matrix organisation
• Ability to work in fast-paced environment with proven ability to handle multiple outputs at one time
• Strong interpersonal and negotiation skills, with experience in a complex global environment
• Expert knowledge of Financial Reporting and Tax Risk compliance procedures
• Thorough understanding of HSBC’s activities, products, processes and systems
• Experience of working with Enterprise Risk Management, Internal and External Audit
• Excellent business writing skills
• Excellent communication, presentation and influencing skills

Hsbc.com/careers

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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