HSBC Group

Business: Regulatory Reporting

Open positions: 1

Role Title: AVP: Regulatory Reporting GSC’s

Global Career Band: 5

Location: India / Hyderabad / Chennai

Recruiter Name: Charu Jain

Why join us?

Role purpose

This role is within the Regulatory Reporting teams that require additional support to:

• Enhance and improve processes and remediate known issues identified during the BAU process impacting COREP and P3 reporting for Group, as well as those from internal audit and s166 findings;
• Ensure minimum control requirements are documented, performed and sufficient evidence collated; and
• Improve and automate processes and controls to create a long term sustainable process.

Additionally, the teams will actively participate in investigations and analytics requiring deep dives and look at end to end processes and issues in upstream data.

Then scope of the team will extend across all RWA risk types as well as Capital, Leverage.

The primary focus of the role holder will be to support BAU process in the remediation of issues in Regulatory Reporting including: 

• Develop a deep understanding/subject matter expertise in various verticals across the regulatory reporting landscape (for PRA)
• Participate in targeted reviews and deep dives – detailed review linked to robust risk-based criteria (e.g. review of site returns, testing of calculation compliance), including interpretation of key policies and understanding of operational implementation
• Deliver accurate, complete and timely outputs (including external reporting and internal MI) for the BAU process
• Understand and document outstanding risks/issues in relation to remediation progress made – develop understanding of impact on outstanding remediation issues and ensure within risk appetite
• Work closely with strategic change programmes (Integrity of Regulatory Reporting) as well as the Controls Office team, ensuring all issues are appropriately flagged and logged in Helios
• This role will be required to support either a regional or group regulatory reporting team lead and is part of HSBC’s commitment to enhancing the control environment and rigour around regulatory reporting.
• We encourage diverse profiles to apply for this role to create an inclusive workplace. We believe that a good working environment values the individual and group differences within its work force. It enables us to embrace the diversity of backgrounds and perspectives of the employees, which in turn increases their talent, innovation, creativity and contributions.

What you’ll do:

Governance and Committee Memberships 

The role holder will be required to participate in various Regional/Group Regulatory Reporting team meetings and working groups supporting the various regulatory change programs may be required to act as delegate for peers/team leads as required.  This role will not be required to be an acting member of any specific governance forums.

Accountabilities for Business, Customers and Stakeholders

• Manage delivery of the Group’s PRA and EBA reports on Capital and RWA including COREP, PRA101, Pillar 2 and Pillar 3 disclosures.
• Preparation and review of regulatory reporting artifacts comprising of Capital and RWA as per EU and UK regulatory requirements.
• Manage regulatory change including interpretation of new regulatory requirements, ensuring systems are developed to meet new requirements and are fit for purpose.
• Support delivery of regulatory transformation initiatives and support roll out of strategic projects such as IRR (Integrity of Regulatory Reporting) and Basel 3 reforms.
• Monitor regulatory developments and prepare a framework to assess compliance with regulatory framework on an ongoing basis.
• Provide SME support to reporting teams and stakeholders in the regulatory reporting processes.                                                                                                                
• Partnering closely with Group Regulatory policy, Finance Change, Risk and other teams to implement regulatory changes.
• Support internal and external auditors assessing the compliance of reporting framework.
• Manage and document policy interpretations and judgements applied within the regulatory reporting framework
• Establish and maintain effective relationship with business areas/key stakeholders and identify areas of service improvements by implementing regular calls and feedback mechanism
• Influence and escalate key reporting issues in an effective way to ensure timely resolution

Leadership & Teamwork 

• Effective team work and collaboration across Finance and HSBC
• Ability to work independently and seek inputs from team leads/peers when face challenges
• Ability to generate ideas/develop solutions when faced with challenges
• Manage time effectively to enable adequate time available for personal development (i.e. training)
• Seeks feedback regularly to understand development areas – work with line manager to develop personal development plan
• Communicate effectively with the team members and be a team player

Functional Knowledge

• Qualified CA (Chartered Accountant), MBA (Finance) or Engineering degree with interest in Financial Services
• Understanding of how to review large data sets and draw out strategic insights as well interpret data and identify trends/anomalies particularly in the context of business, macro-economic or Regulatory drivers, as well as the ability to work quickly & accurately to tight deadlines
• Knowledge and/or interest in Asset Liability Management, FSA Reporting and relevant regulatory changes in a global environment preferred
• Understanding of control frameworks and how to implement effective controls in practice.
• Strong attention to detail and being solution oriented
• Strong communication skills (both oral and written) and an ability to communicate complex ideas in a simple manner to a global audience
• Excellent planning and organisational skills with ability to adapt to changing situations and to understand issues quickly
• Excellent working knowledge of MS related products i.e PowerPoint, Excel.
• Working knowledge of Banking systems and understanding of relevant regulatory reporting framework essential
• Good understanding of financial products and general accounting principles, and more generically the banking business, balance sheet and income statement preferred

Others

Operational Effectiveness & Control

• Adherence to Group policies, audit, controls, and compliance requirements including
• To continually assess the operational risks inherent in the processes, taking account of changing operating procedures, staff movements, legal and regulatory requirements, management restructures, and the impact of new technology
• Effectively manage change, plan business contingency and achieve cross-training
• Ensure process documentation and procedure notes are in place and updated regularly – these should contain procedures to meet minimum control requirements
• Ensure assurance process to validate completeness and accuracy of outputs are well understood and documented

Major Challenges

• The increasing burden of new financial and disclosure requirements, as well as a number of large and complex corporate transactions, and being able to apply accounting principles to data to ensure accurate and complete outputs are produced.
• Enhanced focus on a strong, and automated (where possible) control environment, that is preventative as opposed to detective, surrounding those processes to deliver defined outputs.
• Managing conflicting demands/priorities (including cost pressures) while motivating large and diverse teams.
• Ability to explain complex technical concepts in simple terms to a variety of stakeholders
• Broad role encompassing all customer groups, business lines and risk categories as well as a wide range of regulatory requirements.
• Ensure that potential risk areas are accurately recognised and provide assurance that solutions are delivered in a timely, concise manner, the jobholder needs to have independence of thought and lateral thinking

Management of Risk

• To ensure procedures comply with Sarbanes Oxley and Finance Functional Instruction Manual (FFIM).
• All procedures are in line with GSM Chapter 3 (Finance).
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the function and take action to remediate/mitigate risks as required.
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring, and also by addressing any areas of concern in conjunction with line management and/or the appropriate functions.

What you will need to succeed in the role:

Observation of Internal Controls

• Maintains HSBC internal control standards, including timely implementation of self-identified and internal audit points together with any issues raised by external regulators.
• Jobholder is an ‘insider’ for dealing purposes and subject to strict controls and confidentiality.
• Complies with Group Finance Functional Instruction Manuals and Group SOX requirements and enforces reporting sites’ compliance with certain areas of the required internal controls.
• 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.a

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You’ll achieve more at HSBC

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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