HSBC Group

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If you’re looking for a role where you can continue to make an impression, take the next step at HSBC where your contributions will always be valued. 

This function brings together distinct specialisms to drive greater connectivity in how we manage engagement with key stakeholders for HSBC.

Finance teams provide the bank with internal and external financial reporting, forecasting, controls oversight, and stress testing expertise. Specialist areas also manage HSBC’s worldwide tax affairs, group treasury needs, and events for investors and analysts.

We are currently seeking a high calibre professional to join our team as a Head of Valuations, FRM, XVA and OCS.

Role Purpose 

This role is key part of the execution of the control environment and the accuracy of HSBC financial statements specifically in relation to establishing fair valued products in the XVA & OCS space. Role holder is globally responsible for developing the methodology, driving the controls around models, ensuring that the documentation is up to a standard and will ensure regulatory compliance and opine on efficient resource allocation across trading activities.  Role holder will take the lead in interacting with the regulators and internal/external audit on questions around valuation processes. Valuations delivers independent price verification, financial analysis and reporting, product expertise for traded products and controls the business to enable its sustainable growth. Drive conversations on valuations with these stakeholders who are responsible for their respective businesses. The size and high visibility of the products combined with the diversity of stakeholders involved make this an important and rewarding role with an opportunity to be a part of new client driven initiatives and regulatory initiatives.

Product Control manages a reserve base of circa $1.5 billion plus a considerable amount of adjustments to capital under Prudent Value. This role will be directly responsible for establishing Fair Value valuation in the XVA & OCS space and ensure regulatory compliance while working with Financial Resource Management (FRM) for optimal allocation and utilization of financial resources across the organization.

Accountabilities

• Lead XVA and OCS Valuations methodology and delivery, including global alignment and enhancements of processes and methodologies, ensuring that the governance and controls of fair value are adhered to
• Oversight of the broader XVA and OCS Valuations team across locations
• Key contact point for the Global Head of XVA Trading and other key stakeholders (including Front Office, Traded Risk, Operations, IT and other Finance teams)
• Ensure fair valuation and work with FRM at optimisation stages during allocation and utilisation of Financial Resources across the organisation
• Detailed and recent knowledge of the concept of Fair Value, Fair Value Adjustment processes and of the measurement, management and control around the same.
• Drive the methodology and implementation of FVAs, IPV and PVA changes, keep abreast of industry information around this important asset class, engage the business on all matters regarding valuations and be a key contact for internal and external audit
• Drive engagement with other asset class valuation teams (e.g. Rates, Credit) to increase consistency, quality and efficiency of related controls and processes
• Promote continuous improvement for all activities including increasing efficiency and controls through procedures/systems change process and leadership within PC transformation for your area
• Maintain HSBC internal control standards, including timely implementation of assurance, internal and external audit points
• Understand and ensure compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the areas under management; specifically, Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy
• Ensure full compliance with the Global Markets FIM

Customers / Stakeholders 

• Global Head of Product Control, Global Head & Regional Heads of Valuations, Analytics and Reporting
• Global Head & Regional Heads of XVA & Financial Resource Management
• Heads of XVA Risk, Traded Risk Management
• Head of Governance, controls and models oversight
• Major regulators, especially the ones relevant for the region.
• Assurance, internal & external audit.

Leadership & Teamwork 

• Lead from the front and be a role model in driving and executing change and new ways of working
• Experience of leading and executing significant organizational change including the development of highly capable, motivated and diverse teams
• Authentically engage a diverse group of stakeholders to deliver at pace
• Make sustainable decisions that protect and enhance HSBC’s value and stakeholder value, especially value for HSBC’s clients.

Operational Effectiveness & Control 

• Development and Ownership of Fair Value policy in the Markets FIM. Ensure framework is set to allow for compliance within the group.
• Integrity, conduct and performance measured against ethical standards.
• Aspirational target for zero operational incidents.
• Streamline processes to improve productivity and reduce complexity
• Prompt resolution of issues and management queries related to the relevant product lines.