HSBC Group

Business: Global Finance

Open positions: 1

Role Title: IRR Traceability SME, GSC’s

Global Career Band: 4

Location: Gurgaon, Chennai, Hyderabad and Bangalore.

Recruiter Name:  Nambiar, Jiji

Why join us?

• The Integrity of Regulatory Reporting (IRR) programme was mobilised to uplift the control environment around Regulatory Reporting. This programme addresses the actions to: (i) manage the increased risk in respect of our current regulatory reporting; (ii) remediate regulatory reporting issues in the near term; and (iii) deliver sustainable strategic uplift in our end-to-end regulatory reporting processes.
• Jointly sponsored by Finance and Risk, the vision for the IRR is “delivery of a sustainable regulatory reporting function delivering reliable regulatory returns”. Its scope is multi-dimensional; (i) prudential reporting for the following PRA-regulated entities: HSBC Holdings plc, HSBC Bank plc and HSBC Bank UK plc., and (ii) delivery across Asia, US and MENAT. It will leverage, to the extent possible, existing Change programmes to deliver the required uplifts.
• This senior role has responsibility for delivering a Regulatory reporting traceability framework and execution approach in alignment to the Magnus control standards and design requirements. The role requires extensive understanding of data model management techniques and its application in the regulatory reporting landscape. The role will directly report into the IRR Business and Finance lead.

The role holder will be directly responsible for the following:

• Management of a complete and consistent traceability data model framework for in scope regulatory returns including system changes and enhancements, thereby, ensure data integrity across the return.
• Govern delivery through KPIs and other design standards as agreed in the framework through established or new governance forums.
• Engage with business and IT stakeholders to embed traceability principles and control standards as part of the BAU reporting processes and systems.
• Engage with IT delivery teams and external vendors in selecting the ‘best fit’ data traceability and reporting system/engine thereby offering drilldown and other advanced capabilities.
• Develop a BAU assurance model on data traceability and controls to monitor changes to the processes and framework once established including reporting and senior management update dashboards.
• Initial design for Cat 2 and Cat 3 reports
• KPI and dashboard monitoring for known issues, MSIIs, AIIs, manage regional metrics across IRR Programme
• Design and deliver Traceability across the PRA and non-PRA workstreams, to include tooling/ IT delivery, embedding into BAU and sustainable maintenance
• Develop the IRR communications strategy and engagement plan, including intranet and Townhall agenda ownership
• Develop and implement the IRR training strategy, engaging the design and execution leads where required
• Oversee the development of the training plan and manage relationships with third party providers and HR learning

Strategy formation and delivery execution

• Influence the programme strategy and facilitate decisions in alignment with that strategy.
• Support the Finance Executive Sponsor and front the change through Finance and broader stakeholder groups.
• Manage the definition/understanding of requirements and programme assurance
• Drive design and implementation, ensuring a robust, sustainable regulatory reporting framework
• Manage KPI and other diagnostic reporting
• Trusted change partner with oversight & coordination responsibilities across indirectly managed implementation activity

Senior stakeholder management

• Ensure appropriate communication across Finance and wider internal governance reporting.
• Drive appropriate engagement across Finance and dependent delivery programmes within Finance.
• Promote cross-functional collaboration and ensure Cross-Finance and cross-functional issues are addressed.
• Drive stakeholder buy-in and with resolving issues and managing resistance, as required.

What you’ll do:

Principal Accountabilities: Key activities and decision making areas         

Impact on the Business/Function

• Design and drive operationally effective IRR control standards for all in-scope risk types, workstreams and processes
• Maintain strong, collaborative working relationships across Finance, Risk and other stakeholder groups.
• Disseminate information around expected business and reporting impacts, and key Programme decisions and issues.        

Typical Targets and Measures

• Consistent control uplift delivery across in-scope risk types, workstreams and processes
• Maintenance of HSBC’s good standing and the confidence of the Regulators in HSBC’s practices
• Facilitation of key decisions and the resolution of issues in a timely manner. 

Customers / Stakeholders

• Engage, inform and advise the programme sponsors
• Inform and advise the Finance ExCo on the delivery commitments and facilitate senior executive decision making, including regional CFOs
• Work with senior stakeholders across Finance & Risk to ensure direction of IRR is fully understood and syndicated
• Work with DBS to ensure requirements are understood and delivery is appropriately prioritised.

Support delivery programme teams in regards to:

• Specification of requirements
• Estimation of time and resources required
• Roadmap and milestones
• Prioritisation
• Support wider IRR programme      

Typical Targets and Measures

• Sponsors have a clear view of programme portfolio and progress
• Delivery teams have clarity on requirements and roadmap
• Upstream dependencies understood and accepted
• Feedback from sponsors and stakeholders is positive

Leadership & Teamwork

• Ability to sponsor change and influence others.
• Collaboration across Finance and with other Functions/Global Businesses involved in the programme.
• Identify and influence the deployment of appropriate Finance staff members on the programme.
• Actively manage talent, leadership development and succession planning
• Drive and lead a high performance culture through effective people management activities
• Act as a role model for the Bank’s Values and Behaviours and cultivate an environment that supports diversity and reflects the HSBC brand
• Clearly communicate progress, issues and successes            

Typical Targets and Measures

• Effective collaboration across Finance, Risk and other stakeholder teams.
• Timely and appropriate programme decision-making, with related communication and/or escalation
• Balance programme requirements with development opportunities for staff members.

Operational Effectiveness & Control

• Ensure implementation of effective and efficient operating model, process and controls.
• Ensure execution of operational risk assessment of new processes
• To continually reassess the design decisions and inherent operational risks, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.

Typical Targets and Measures

• Champion the usage of the Group’s Change Framework. 
• Participation in Operational Risk Assessments carried out as appropriate.
• Effective and efficient process and controls implemented
• Proactive assessment of changing landscape, including regulatory publication

Major Challenges

• IRR is dependent on in-flight change initiatives to deliver the Controls uplift. The role holder does not have to manage these programmes but has to cultivate a strong partnership and influence with each delivery programme. Requires ensuring planned delivery from each programme combines into a coherent IRR delivery for each reporting type and remaining alert to impact of delivery programme decisions. 
• Balancing IRR objectives with delivery of new regulatory requirements in a cost-constrained environment
• Managing potentially conflicting agendas, priorities and timelines across functions and dependent programmes, as well as across geographic and regulatory jurisdictions
• Balancing functional requirements and delivery commitments within the realities of legacy global IT architecture
• Delivering a significant change initiative in a cost-effective manner, driving a simplification agenda

Role Context

• Role is based in Global Finance and interfaces with other areas of Global Finance, Risk and DBS
• Ability to navigate and influence at senior levels to ensure successful delivery
• The PRA has increasing expectations around the accuracy of regulatory reporting.

Management of Risk (Operational Risk / FIM requirements)

• The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing 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 into account the likelihood of operational risk events, and by addressing any areas of concern in conjunction with line management and/or the appropriate department
• The role will implement the Operational Risk control framework and the BRCMs “Three Lines of Defence”

Observation of Internal Controls (Compliance Policy / FIM requirements)

• 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.