Financial Manager
Role Purpose
- To manage all aspects of the external financial reporting process for the consolidated HSBC Group, including:
- Identifying and interpreting new financial reporting requirements
- Specifying effective data collection mechanisms and collecting complex financial information from a large network of reporting sites
- Implementing the necessary control environment to provide assurance over consolidated financial information included in internal and external publications (including analytical review and other appropriate procedures)
- Actively identifying opportunities to reengineer business processes and delivering best practice process improvement
- Interpreting and communicating complex financial concepts to senior stakeholders
- Delivering the external financial statements of the HSBC Group within strict deadlines
Key Accountabilities
- Own and deliver disclosures set out in external financial statements including identifying new disclosure requirements, specifying data collection mechanism, designing analytical review procedures and communicating results to senior stakeholders.
- Understand and execute complex group consolidation concepts including identifying the need for and reviewing the impact of complex consolidation journals, determining the impact of transactions on group processes and understanding the impact of changes in external inputs such as foreign exchange and interest rates.
- Review of ad hoc information, reports, presentations, and provide challenge where necessary.
- Continual review and improvement of businesses processes to ensure both Head Office Finance teams and Finance teams across the Group produce the right information in the required time frames as efficiently as possible.
- Solve unstructured accounting issues ensuring complete solutions (process, disclosure, communication) and stakeholder engagement.
Customers / Stakeholders
- Group External Reporting line management and Head of Group External Reporting
- Deputy Group Chief Accounting Officer, and Group Chief Accounting Officer and other Group Finance senior management
- Regional Chief Accounting Officers and senior stakeholders throughout Global Finance
Leadership Teamwork
- Strong planning, management and execution of all elements of the external financial reporting process
- Management of professional development of team personnel
- Ability to lead and deliver initiatives across Global Finance
Operational Effectiveness Control
- Ensure compliance with SOX
- Pro-active approach to process improvement.
- To continually reassess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- To implement the Group Compliance Policy by containing compliance risk in conjunction with the relevant compliance department. The term ‘compliance’ embraces all relevant laws, rules and codes with which the business has to comply
Major Challenges
- The increasing burden of new financial reporting requirements including changes in accounting standards, developments in regulatory financial reporting requirements (e.g. FINREP) and best practice disclosures (e.g. EDTF)
- The requirement to continually improve business processes in a sustainable way whilst maintaining high standards of BAU financial reporting
- Delivering complete solutions to financial reporting requirements within a large and complex Group and in accordance with strict deadlines
Role Context
Environment
- Group External Reporting occupies a leadership role in HSBC Global Finance and is responsible for all aspects of the HSBC group’s external financial reporting.
Guidance and authority
- The incumbent will be responsible for delivering allocated tasks within strict deadlines and will report to a Senior Manager in Group External Reporting. Whilst maintain primary responsibility for allocated tasks, the incumbent will have the opportunity to oversee, manage and review the work of junior staff.
Management of Risk
- Ensure procedures comply with Sarbanes Oxley and Finance Functional Instruction Manual (FFIM).
- Perform procedures are in line with GSM Chapter 3 (Finance).
- The role holder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, 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 account of the likelihood of operational risk occurring, and;
- Addressing any areas of concern in conjunction with line management and/or the appropriate department.
Observation of Internal Controls
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Role holder 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 role holder 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 role holder 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.
Qualifications
Knowledge Experience / Qualifications
- Recognised relevant professional accountancy qualification and 3+ years post qualified experience
- Relevant financial reporting experience with a large institution, preferably in a Group capacity
- Fundamental understanding of the dynamics of the financial statements of a financial services organisation
- Strong knowledge of IFRS essential and awareness of other relevant regulatory issues
- Ability to manage own time and direct staff to meet deliverables particularly in a pressurised and deadline driven environment
- Ability to deal with and analyse unstructured problems/queries and to question and challenge existing procedures.
- Ability to communicate complex financial issues confidently to management and other senior stakeholders
- Ability to design, document and communicate analytical procedures to provide assurance over external financial statements
Leave a Reply
You must be logged in to post a comment.