VP REGULATORY REPORTING

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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 VP: REGULATORY REPORTING

Business: Finance

Principal Responsibilities

Impact on the Business/Function

• Perform and review the assigned tasks related to HKMA/PRA FoTC system implementation and B3R. Understand the impact on HK team.
• Participate in projects and UAT to streamline and automate the process flow. Be aware of controls issue and compliance.
• Support all testers – internal testers, users and Managed Service – during planning, preparation and execution.
• Understand the data model, flow and end-to-end solution and processes.
• Demonstrate understanding of the regulatory rules on HKMA / PRA RWA and B3R.
  
  

Typical Targets and Measures

• Strong technical knowledge on RWA reporting and understanding of HKMA/PRA reporting requirements
• familiar with systems related to regulatory reporting and the existing end to end process flow, and be able to provide SME input for FoTC implementation and BAU transition.
• Strong adaptability and capability to manage new requirements. Demonstrate the quality as being control focused on overall control on RWA reporting.
• Line Management feedback on completion of activities and tracking of status during project lifecycle
  
  

Customers / Stakeholders

• Build and manage key relationships with internal and external senior stakeholders.
• Understand stakeholders objectives, direction, priorities and challenges, managing and addressing concerns and objections.
• Contribute SME RWA expertise input to Global B3R and FoTC program, engage with stakeholders in project or liaison representing HK Regulatory reporting team.
• Engage with different Finance teams
• Engage with Risk, Business, GFC and IT.
  
  

Typical Targets and Measures

• Professional relationship maintained at all times with stakeholders.
• Good communication skills
• Ability to manage timeline and co-ordination with relevant parties.
  
  

Leadership & Teamwork

• Promote a culture of continuous innovation, challenge the business on approach and apply knowledge of relevant latest developments.
• Provide regular constructive feedback and coaching to individuals to improve their performance and support development and career progression.
• Work as one team to support the deliverables required by HK team.
• Engage with GFOC RWA PC team on work deliverables.
• Work with other stakeholders to achieve improvements of process and controls.
  
  

Typical Targets and Measures

• Being proactive to deliver and determined to succeed.
• Being the team player and able to build up strong and effective working relationship with key teams.
• Line Management feedback completion of activities and tracking of status during project lifecycle
• Feedback from key Finance stakeholders
  
  

Operational Effectiveness & Control

• Manage all regulatory and compliance matters and the management of operational risk.
• Maintain HSBC internal control standards, implement and observe Group Compliance Policy and maintain awareness of operational risk and minimize the likelihood of it occurring.
• Ensure that adequate controls are designed and implemented for areas of responsibility, including but not limited to Group Standard spreadsheet controls and management review.
• Manage agreement of all support and BAU project-related costs at early stages of the change cycle.
  
  

Typical Targets and Measures

• New or changes of group / regulatory requirements are properly dealt with on a timely basisAdherence to all relevant procedures, keeping appropriate records, timely updates to project lifecycle documentation as per the activities;
• Risks and issues log
• Project plans
• Ensure robust controls are in place and take the lead in driving process improvements.
  
  

Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)

• Process knowledge – The Lead should be able to quickly understand the end-to-end process and the implications of that process for validation including elements of accounting and finance processes.
• Solution knowledge – The Lead should be able to quickly understand the end-to-end solution and the implications of that solution for validation including infrastructure, technology and interface design.
• Validation Methodologies – The Lead should have an excellent understanding of multiple approaches to validation – Waterfall, v-model, Agile.
• To be equipped with good technical knowledge and deal with the new regulatory changes and required system and process flow changes.
• To take ownership with the drive to succeed
• The complex nature of HBAP and the divergent variety of transactions and thus reporting and system requirements.
  
  

Role context

• Role is based in Global Finance;
• Interfaces with other areas of Global Finance, Global Credit and IT;
• Involved in the implementation of process and systems changes relevant to regulatory reporting;
• Ability to follow up on issues arising during Regulatory Reporting process change.
• Excellent collaborative skills, technical knowledge and a proven ability to embrace diverse cultures will be necessary to be successful in this role
• Given the challenging regulatory environment, this role is highly demanding
  
  

Management Of Risk (Operational Risk / FIM Requirements)

• To ensure procedures comply with Sarbanes Oxley and Finance Functional Instruction Manual (FFIM)
• All procedures are in line with GSM Chapter 3 (Finance)
• 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. This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring and by addressing any areas of concern with line management and/or the appropriate department.
• Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.
  
  

Observation of Internal Controls

• Maintains 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 Group SOX 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
• This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators
  
  

Qualifications

• Strong technical knowledge of PRA/EBA and HKMA regulatory reporting requirements;
• Knowledge of regulatory developments;
• Experience of working with teams in large complex Programmes within the financial services industry
• Experience in delivering change within a services environment and an appreciation of regulatory and compliance imperatives
• Preferably a qualified Accountant;
• Excellent interpersonal and communication skills
• Self-motivated and capable of working as part of a team;
• 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
• Strong analytical skills.
• Independent and able to work under pressure with multiple deliverables to meet tight deadlines
• Excellent skills in leadership and stakeholder management at all level of counterparties
  
  

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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