VP GM Product Control

Some Careers Shine Brighter Than Others.

If you’re looking for a career that will help you stand out, join HSBC and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 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 Vice President Global Markets Product Control, Equities Oversight .

The Valuation Control function is responsible for ensuring that traded products are completely & accurately recorded in HSBC’s books and records in accordance with applicable accounting standards. Valuation Controls are designed to ensure appropriate valuation of the traded products portfolio, an understanding of key Profit & Loss (P&L) drivers, assessment of reasonableness of execution margins, and to assist in detection of inappropriate trading activity.

In This Role, You Will

• P&L Reporting
• Production, analysis, explanation and reporting of the daily trading profit and loss.
• Exception report monitoring and inter-system reconciliations
• Review and investigate daily exception reports. This includes (but not limited to) monitoring of PTS-GL reconciliations, BOS exceptions, deal activity, controls over accrual books and hedge accounting, FX daily activity and FX corporate margins.
• Benchmark Rate Monitoring
• Provide independent review, monitoring and challenge across benchmark submissions made across the bank/business.
• Book Controls
• Provide system administration and governance for book opening process.
• Balance Sheet Substantiation
• Ascertain reasonableness, propriety and integrity of the account balances through reconciliation and substantiation.
• Valuation and Market Data Review
• Review of adequate operational effectiveness of the Fair and Prudent Valuation Adjustments control framework.
• Production and Reporting of Monthly and Periodic Returns
• Preparation of periodic reports primarily required for regional and group reporting. This include (but not limited to) Fair Value Adjustments, Hedge Accounting, Mark to Market Since Inception, Day 1 P&L Reserves.
• Audit and Other Reviews
• Coordination with internal and external auditors during regular audits.
• The job holder will be responsible for reviewing the team’s daily deliverables, ensuring accurate and timely control and service delivery, leading the team in resolving issues, and addressing queries and adhoc requests made by various stakeholder.
• The candidate is expected to proactively build and manage relationships with onshore Product Control teams across Asia Pacific as well as other internal clients within Finance, GFC, Middle Office, Internal Audit, Change Team and IT.
• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
  
  

To be successful in this role, you should meet the following requirements:

• Preferably with background in financial, economic, accounting or mathematical subjects.
• At least 5 years of Product Control or similar discipline experience, preferably in FX, Rates, or Equities.
• Track record on process improvement and change delivery.
• Team management / people management experience in previous roles.
• Very good accounting and valuation knowledge.
• Very good written English and oral communication skills.
• Advanced MS Excel skills, quantitative skills, MS Access or VBA experience, or involvement in Robotics Process Automation (RPA) project initiatives is an advantage.
• Excellent analytical skills and a proactive approach to problem solving.
• Excellent interpersonal skills, ambitious, driven and enthusiastic.
• Professional qualification such as CPA, CFA and FRM will be an added advantage.
• Willing to work in shifts schedules, change on weekly statutory rest day and weekly contractual rest day from time to time, depending upon operational and/or business requirements.
• Flexible to work at such premises of the Company.
  
  

Due to the urgent hiring need, candidates with immediate right to work locally and no relocation need will be prioritised.

You’ll achieve more when you join HSBC.

www.hsbc.com/careers

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. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by Hong Kong and Shanghai Banking Corporation Limited Philippines

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