Some careers have more impact than others.
If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be. HSBC is one of the largest banking and financial services organizations 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 realize their ambitions. We are currently seeking an experienced professional to join our team in the role of VP - IFRS 9 Finance Lead
Overview of the role
- HSBC went live with IFRS 9 w.e.f. 1 January 2018. The implementation of the Expected Credit Loss (ECL) segment of IFRS 9 (International Financial Reporting Standards) involved implementation of new models for ECL calculation, designing of a new calculation engine (ICE) Impairment Calculation Engine and implementation of a new operating model and controls. The implementation also entailed establishment of IFRS 9 Operations (erstwhile IPAC (Impairment Production & Analysis Centre)), a joint Risk and Finance Centre of Excellence, domiciled within the Finance Operations to calculate, analyze, report, and support the disclosure of ECL.
- The Global IFRS 9 team is a joint venture between the Global Finance and Risk teams and works in close collaboration with both Finance and Risk. The IFRS 9 Operations team is responsible for the calculation and reporting of ECL for almost all entities within the HSBC group
- The role holder will lead the delivery of Expected Credit Loss (ECL) results for all the Wholesale / Retail sites. The role holder is required to navigate through a constantly changing environment and deliver the ECL results within challenging timelines.
In this role, you will:
- Own the end-to-end IFRS 9 ECL process for the specific Wholesale/Retail vertical, covering calculation, analysis, reporting, disclosure support, and emerging accounting and disclosure changes.
- Build and maintain effective relationships with Risk GPO (Global Process owner) teams, CROs, (Chief Risk Officer) CFOs (Chief Finance Officer), Financial Controllers, Financial Reporting, Regulatory and Risk leads globally, regionally and locally.
- Support IFRS 9 requirements, maintain a robust control environment, adhere to SOX (Sarbanes-Oxley Act) controls, Group accounting policies, data, process and system rules, and manage audits effectively.
- Support strategic IFRS 9 initiatives, including Finance Data Solution (FDS), Future State Architecture (FSA), RegX and Basel 3.1 reforms.
- Engage, motivate and develop a high-performing team through resourcing, training, development and retention.
- Own and deliver the IFRS 9 runbook for ECL calculation, analysis and reporting, and support IFRS 9 disclosures, external financial statements, publications and FinRep Credit tables.
- Identify and interpret accounting, regulatory and disclosure changes, implementing required uplifts to data, processes, systems and controls.
- Manage change impacts through effective assessment, testing, implementation and timely delivery.
- Act as a trusted Finance and Risk partner by managing senior stakeholders, resolving concerns, maintaining communication channels, and ensuring positive engagement with no escalations.
- Deliver IFRS 9 transformation through FDS, FSA, RegX and Basel 3.1, promote continuous innovation, streamline processes, implement technology for manual and error-prone activities, and track opportunities through completion.
To be successful you will:
- Experienced Finance/Risk professional with 15+ years in financial services domain with a proven track record of leading Finance / Risk operations.
- Understanding of credit risk, regulatory and accounting concepts including IFRS 9, PD (Probability of Default) , LGD (Loss Given Default) , EAD (Exposure at default) etc is mandatory
- Strong technical knowledge including the ability to understand and interpret upcoming accounting changes and market trends on IFRS 9 and key disclosure requirements.
- Exposure to emerging innovation and transformation concepts with a proven track record of driving innovation
- Strong understanding of the concept of data including sourcing, lineage, and controls. Ability to understand business strategy, translate them to team goals and lead a team of qualified professionals to deliver on the goals.
- Ability to communicate complex information in a succinct and credible manner, both orally and written, directly with Senior Management. Ability to navigate through ambiguity and lead and influence colleagues across the HSBC Group.
- Ability to work in a dynamic environment and adapt to frequent and multiple changes. Ability to manage a complex process within resource and time constraints.
You’ll achieve more at HSBC
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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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