Vice President Product Control

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VP, Product Control, Mumbai, India

Global Finance

Global Finance is integral to HSBC’s purpose and strategy, playing a valued role in managing costs and deploying capital in the most effective way. Our global team of finance professionals partner with the business to provide trusted insights and forward looking analysis; accuracy; efficiency and control to frame and influence business decisions.

We are currently seeking an experienced professional to join the Global Markets Product Control team. 

Principal Responsibilities

• Strong understanding of P&L Processes (Reporting, Attribution), Valuation Principles of Global Markets products, ensuring accuracy & completeness
• Ensure Independent Price Verification (IPV) and Fair Value Adjustments (FVA) are performed in line with internal policies and IFRS/GAAP requirements
• Maintain and monitor valuation reserves, ensuring they are justified and documented
• Ensure compliance with internal control frameworks, accounting policies, and regulatory requirements (e.g. IFRS 13, Basel III)
• Coordinate with internal and external auditors, providing necessary schedules and explanations. Close involvement in handling various audit requirements of local regulatory audit, internal audit, statutory audit & other compliance reviews along with working towards the closure of audit findings.
• Maintain robust documentation for valuation methodologies and control processes
• Work closely with traders to provide financial insights that support business strategy
• Resolving client valuation related queries
• Reporting of various financial and management reports as prescribed by applicable regulation like RBI / HKMA / PRA etc. and ensuring adherence to HSBC’s internal guidelines related to P&L, valuation and balance sheet controls.
• Periodic review of various internal policies on Fair Valuation Adjustments, Prudent Valuation Adjustments, Fair Value Levelling, Day1 PL reserving etc.
• Participate in Product Control related IT projects by providing User requirements, performing UAT & post implementation reviews.
• For all the new business products launched, the role holder is expected to provide inputs on the above mentioned areas.
• Active participation in regional projects, local/internal audits are other key areas where the candidate gets involved.
• Understand Risk and Control framework including SOX and help track and escalate incidents and operational losses related to PC.

Education Qualifications / Certifications and Requirements :

• A strong understanding of finance processes and an accountancy or finance post graduate degree
• Relevant experience (min. 5 years) in a finance environment, with a wide product knowledge across a number of Global Markets asset classes
• Strong understanding of the traditional Global Markets trade lifecycle and of the relevant risk control principles within this
• Experience of working in a similar organizational structure with a number of onshore and offshore contact points and managing teams
• Good Data Analytics and Digital Transformation skills. Ability to work with large amounts of data, analyse the same and present them in a concise meaningful form.
• A strong written and verbal communicator, used to interacting with colleagues and stakeholders at all levels including senior leadership teams

HSBC is 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.

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India