VP – Financial Accounting- Asset Control and Holdings

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If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll 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 Vice President – Financial Accounting- Asset Control and Holdings

Location: Gurgaon / Chennai

Principal responsibilities

• The Asset Control function in Financial Accounting Operations (FA Ops) is responsible for capitalization, amortization/depreciation and impairment of non-financial assets. This is a critical process which supports DBS and DBS Finance and acts as a bridge between Finance and Technology.
• The Holdings Company Group of entities comprise HSBC Holdings plc and eight intermediate holding companies (with a consolidated balance sheet c.$290bn). These arestrategically important as they are responsible for the issuance of the Group’s debt/capital instrument which are downstreamed into operating entities, holding the Group’s stakes in its major subsidiaries and other strategic investments.
• There have been recent and ongoing enhancements in these processes which include expanding the capitalization program and onboarding Global Businesses/Global Functions/entities for capitalization, restructure/M&A activity and new product implementation impacting the Holding Company Group entities.
• In this role, candidate is expected to provide leadership expertise to manage the enhanced scope of these processes, in particular ensuring quality of deliverable with adequate controls and transforming the processes to ensure that they run at optimum level. This involves demonstrating a hands-on approach, technical ability and influencing skills of people at different level. The responsibilities will include, but are not limited to: -
• Supporting Non-financial assets Capitalization, amortization and Impairment accounting.
• Responsible for supporting the roll out of capitalization programs as appropriate across other areas of the rest of the firm, both in terms of entities and GB/GF’s.
• Support Head of Financial Accounting-Asset Control in Asset Control area management activities, including regular updates to the respective Stakeholders.
• Supporting Group Financial Control in strategic transactions (capital and funding, Group restructures) and will be also responsible for resolving accounting issues and judgements and in implementing solutions and accounting requirements for new products. Ensuring accurate accounting for complex events such as merger, restructure, dividend distributions, share based payment, pensions etc. under IFRS.
• The role holder will be closely involved in the impairment exercises on NFAs including intangibles and HGHQ’s ’s value-in-use impairment testing.
• Managing internal and external audit for respective process areas.
• Manage and continuous monitoring of adequacy of internal controls in the process. Establish and run a strong quality control framework for outputs and activities in end-to-end process.