Job Description

Job descriptionSome careers have more impact than others.If youre looking for a career where you can make a real impression, join HSBC and discover how valued youll be.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 Head of IFRS 9 Operations (IPAC)Principal responsibilities:The role holder is responsible for the overall IFRS 9 Operations. The Key responsibilities include:

• End to end accountability for calculation, analysis, reporting and disclosure support for ECL (Expected Credit Loss) and CECL (for US), including understanding emerging accounting & disclosure changes.
• Establish and maintain effective relationships with key stakeholders including CROs, CFOs, Financial Controllers and Financial Reporting, Regulatory and Risk leads at a global, regional and site level and support their IFRS 9 related requirements.
• Lead innovation and transformation for both IFRS 9 and Financial Reporting (FR)
• Lead the design and implementation of strategic initiatives including Finance Data Solution (FDS), Future State Architecture (FSA), RegX, BASEL 3.1 reforms, etc. for IFRS 9
• Engage and motivate people and develop a high-performing team through active resourcing, training, development, and retention.
• Maintain a robust control environment and adherence to SOX controls. Ensure adherence to group accounting policies, data, process and system rules and guidelines and effectively manage audits.
• As the business owner of the Impairment Calculation Engine, ensure the system is operating as per the HSBC IT standards and policies.
• Act as a Deputy to the IFRS 9 GPO, taking overall accountability for IFRS 9 and representing IFRS 9 at all appropriate forums.

Impact on the Business:

• Own and deliver on the IFRS 9 runbook covering, calculation, analysis and reporting of ECL.
• Support the Head of IFRS 9 disclosures to deliver the disclosure requirements set out in external financial statements and other external publications.
• Own and deliver the FinRep Credit disclosures.
• Identify and interpret accounting and regulatory changes and key disclosure requirements and implement uplifts to data, process, system, and controls.
• Effective management of changes impacting data, process, system, and controls including change assessment and testing.
• Timely and accurate calculation and reporting of ECL.
• External disclosures are fully compliant with listing requirements and relevant standards and are meaningful to the readers of the financial statements and other external publications.
• Regulatory financial reporting disclosures are fully compliant with regulatory requirements and standards.
• Adherence to accounting and regulatory guidelines within specified timelines
• Changes implemented in production in line with the expectations.

Role Context:Environment

• 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 role holder is required to navigate through a constantly changing environment and deliver the ECL results within challenging timelines.

Guidance and authority

• The Global IFRS 9 team is responsible for the calculation and reporting of ECL for almost all entities within the HSBC group.

Requirements

• Experienced Finance/Risk professional with 20+ 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, LGD, EAD, etc.
• 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
• Sound knowledge of risk management concepts in a Finance environment
• 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.

Youll achieve more at HSBCHSBC 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.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 HSBC Electronic Data Processing (India) Private LTD***

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