VP - Regulatory Reporting Enhancement Manager - FinOps GSC

Business: Global Finance

Why join us?

The Regulatory Reporting Governance team in Finance is responsible for the review across Group returns, disclosures and other regulatory artefacts, as well as leading discussions with 2LOD/3LOD and providing oversight for internal assurance activities. The team is also responsible for impact assessments for strategic transactions.

The primary focus of the role holder will be to assist on Internal assurance activities across RWA, Capital and Leverage. This includes performing additional analysis, investigations, and co-ordination with regional/ group teams, in addition to supporting preparation of packs and presentations for an overall view of issues and escalations for senior management. The role holder will also support discussions with 2LOD and act as an SME for regulatory matters. The main responsibilities in detail for role includes:

• Playing a key role in the internal assurance activities including review and challenge at quarter ends
• Engage with other Group leads for overall oversight on RWA, Capital and Leverage matters
• Engage and support discussions with 2LOD, as well as 3LOD on BAU process, findings and resolution
• Supporting targeted reviews – (e.g. review of returns, testing of calculation compliance), including interpretation of key policies and understanding of operational implementation.
• Assessment of operational considerations and impact assessment of strategic transactions and working with a number of teams including M&A, Group Reg Policy, Accounting Policy, Regional and Business teams
• Provision of SME for regulatory matters
• Collaboration and co-ordination with Group, Regional and Business teams on regulatory matters and resolution of issues
• Management of Group Audit Committee and Other Regulatory papers
• Understanding the issues highlighted in audit/internal reviews and interpreting the requirements for a read across
• Production of MI and reporting to support governance and updates for senior management

Opportunity:

What you’ll do:

Principal Accountabilities: Key activities and decision making areas

Impact on the Business/Function

• Specific analysis relating to the credit and counterparty credit risk as required by HSBC’s regulators globally.
• Engagement with the Audit teams regarding any requirement/ Clarification and responses for Audit queries.
• SME input into NCCR/CCR RWA related projects related to IRR
• Deep dive activities: analysis of specific issues identified during reporting process, regulator queries or regulator Q&A related.

Typical Targets and Measures

• Maintenance of HSBC’s good standing and the confidence of the regulators in HSBC’s practices.
• Remediation of Known issues to adequate standards in a timely manner.
• Accurate and timely production of Regulatory information across the Group

Customers / Stakeholders

• Provide support internally to Global Reporting Teams to assist in remediation of known issues.
• Work with Auditors and help them in completing the Audit work by providing documents and responses to their queries
• Work with global functions such as Group Risk and Global Business to make sure accurate upstream Data Quality Impacting Reporting is fixed with in timeline.
• Work with central Regulatory Reporting Enhancement team and Control Office teams to ensure all the known issues has been tracked and monitored.

Typical Targets and Measures

• Professional relationship maintained at all times with the Auditors such that HSBC’s views and proposals relating to Rules and guidelines respect and that the Auditors have confidence in our integrity.
• Successful delivery of reporting to the PRA/Global regulators and acknowledgement of ownership and responsibility for the quality of the data reported

Leadership & Teamwork

• Facilitate efficient work relationship within the Global Reg team engaging with colleagues in all regions, the GFC Reg team and regional BAU Reg teams.
• Collaboration across Financial Control and Global Finance with a culture of ‘One Team’.

Typical Targets and Measures

• Team motivation and engagement
• 360 survey
• GFC feedback
• Clear organization and smooth reporting processes.

Operational Effectiveness & Control

• Identify opportunities to improve the remediation process and raise with relevant team
• Ensures procedures are designed effectively and operate robustly such that they meet internal and external audit and regulatory expectations consistent with our market-leading reputation for transparency and quality
• Anticipate, identify and mitigate operational risk in an appropriate, cost effective manner

Typical Targets and Measures

• Continually drive efficiency and effectiveness within the team working with colleagues in the various regions to ‘follow the sun’ to meet tight deadlines.
• Demonstrated using well-designed operating metrics in an efficient and transparent manner

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

• The team and role holders are expected to manage multiple requests for issues, Auditors queries and reporting on a concurrent basis whilst also balancing internal management and Global Business requests, all of which will need to be delivered in a cost constrained environment as part of a tightly managed wider RREP program.
• Given that team members will be located across the main HSBC regions, effective and efficient communication and organisation across time zones and geographies will be a major challenge in this role
• Maintain high level of quality of external disclosures and regulatory information

Role Context (The environment and operating conditions of the role including the extent of guidance and authority)

• Role is based in FinOps, Global Finance;
• Interfaces with other areas of Global Finance, Global Wholesale Credit Risk, Global Risk Analytics, in addition to teams at sites worldwide;
• Involved in the implementation of process and systems changes relevant to regulatory reporting;
• Authority to follow up on issues arising during Regulatory Reporting process with other business areas/sites.
• 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 global regulatory environment, this role is highly demanding

Management of Risk (Operational Risk / FIM requirements)

• The role is strongly linked to the management of risk as the regulatory reporting is based on risk-sensitive measures, which is why it is so complex.
• 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 (Compliance Policy / FIM requirements)

• 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.
• By adhering to the bank’s agreed processes/procedures – achieving a satisfactory Audit report.