VP Head of Underwriting

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International Wealth and Premier Banking (IWPB) helps deliver on HSBC’s purpose of opening up a world of opportunity by providing our customers with borderless banking and world-class wealth management through best-in-class, mobile-first capabilities, and exceptional people. Our international network and breadth of expertise enable us to support individuals, families, business owners, investors, and entrepreneurs.  International Wealth and Premier Banking provides a leading premium proposition through Premier Banking and, together with our Private Bank, are present across the world’s most important markets, booking centres, and corridors most valued by our clients. Our wealth offering is further enhanced through our best-in-class manufacturing capabilities in Asset Management and Insurance.

We are currently seeking an experienced professional to join the <IWPB & HIFSL NBFC> team.

Job Introduction

The role is based at Head office of our NBFC Unit, Mumbai and involves handling a team for delivery of outcomes through design, coordination & control with all segments of Business.

HSBC InvestDirect Financial Services (India) Limited is an RBI regd. NBFC of the banking conglomerate and one of the largest banks in the world, the HSBC Group. It is a non-deposit taking NBFC engaged in the business of offering capital market products which primarily includes loan against equity shares, mutual fund schemes, bonds, G-Sec and other financial securities. It caters to high end HNI customers across India and is head quartered in Mumbai. HIFSL is a highest rated NBFC by CRISIL/FITCH having a long-term rating of AAA and a short-term rating of A1+

Role Purpose

To ensure smooth functioning of credit risk, deliver robust systems, structure strong policies, develop able resources, have meticulous eye for details, skilfully conduct credit assessment, with target to minimize adverse financial impact and provide strong support for business growth. To identify, assess, monitor and make timely and measured judgments on all current and potential future risks in lending business.

The policy & governance role is responsible for developing, implementing and maintaining organizational policies, procedures, and internal control frameworks to ensure compliance with NBFC regulatory requirements, all aspects of entity policy and governance standards including product, risk & compliance adherence management activities. The jobholder is required to work across HIFSL teams to strengthen the framework of governance, monitor adherence and suggest areas of improvements business growth, enhance operational efficiency and reduce risks by working with all stake holders.  This role will be directly reporting to Head of Entity.

Roles & responsibilities:

• To ensure smooth Underwriting of credit proposals especially against loan against securities ( including shares, MFs, bonds, AIFS, other structured products) to Corporates, Non-individuals and individuals, functioning of credit risk, deliver robust systems, structure strong policies, develop able resources, have meticulous eye for details, skilfully conduct credit assessment, with target to minimize adverse financial impact and provide strong support for business growth.

• To closely work with all KMPs of the entity and other executives to translate the company's strategic goals into actionable plans and operational procedures.
• Lead, Design, implement and monitor all underwriting and related policy-procedures of the entity to support all functions to protect and grow the entity
• Implement and challenge all aspects of current framework to ensure the same are working fine and recommend corrective action plans, where required.
• To identify, assess, monitor and make timely and measured judgments on all current and potential future existing and emerging challenges.
• Monitor new regulations and assess their impacts on policies and controls to support mitigation and incident management, Support operational and risk management activities
• Support internal and external audits by providing documentation and evidence, submission of group and all other reporting on periodic basis
• Communication and interpersonal skills, including the capacity to articulate the case for risk management in the language of business.
• Established financial and accounting acumen. Demonstrated business knowledge, such as experience leading a Risk unit.
• Ability to make robust/tough decisions which may be contrary to the business expectations.
• Strong collaborative leadership and management ability, developing influence and inspiring ambition in the team.
• Any other responsibilities that will be assigned by management from time to time.

Experience sought in :

• Analysis and underwriting of Business proposals based on the fundamentals, financials and within the policy parameters. Candidate should have strong understanding of assessing corporate financials and projections
• Drafting of Credit policies and procedures in line with the Group standards and local regulatory guidelines.  

• Exposure to demanding operational environments to gain insight into the most effective risk management applications.
• Working across all levels of the organization to understand cross-functional linkages and interdependencies, as well as the implications of risk, at both, a strategic level and at the business unit level.
• Bring in best industry practices to provide necessary support to Business and effectively contain risks in the product with zero tolerance to losses.

 Qualifications

Post-graduate degree in Business Administration, Finance or a related field. Preferably a Chartered Accountant, CFA, Cost Accountant or an MBA Finance with a minimum experience of 10-15 years in underwriting of Credit proposals. Preference would be given to candidates having experience of working with NBFC operating in the lending against securities space

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India