Director - HBEU IRR SME Lead

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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 ofDirector, HBEU IRR SME Lead

Business: Finance

Principal responsibilities:

• Provide regulatory reporting SME expertise into design of controls, including traceability activities, ensuring these adequately address the regulatory reporting risks and are sustainable.
• Agree gaps with the BAU reporting teams and translate these into clear project deliverables.
• Work with the PRA IRR delivery leads and dependent programmes (e.g. B3.1 and FRTB), providing SME input and challenge to drive HBEU’s priorities.
• Proactively review and challenge deliverables to ensure they are the required standard and prepare BAU teams for handover and embedding, to support Report Owner signoff of IRR delivery.
• As delivery progresses, new gaps or design questions may arise. Work with PRA delivery leads and BAU teams to design solutions.
• Provide SME input into the prioritization of Targeted Transaction Testing and Calculation Compliance Assessments.
• Review and advise on issues arising as remediation progresses (issues may arise through testing, Risk & Control Assessments, Assurance reviews and identified through IRR delivery work), to ensure they are addressed and resolved ie. that an effective feedback loop is in place
• Navigate and influence at senior levels to ensure stakeholder buy-in and support for HBEU prioritization and resolution of blockers.
• IRR delivery is dependent on initiatives and activities across functions, including Risk, Finance, and DBS and Global Businesses and therefore this role holder may need to engage across these areas. With increased focus on regulatory reporting, the role holder will support engagement with regulators and updates to senior governance forums on progress and impact of the programme.

Impact on the Business/Function:

• Lead decision on the optimal remediation plan to achieve risk reduction for each return.
• Adapt remediation plans as indicated by the feedback loop.
• Provide Subject Matter Expertise to support delivery of sustainable outcomes.
• Recognized regulatory reporting risk reduction.
• Engagement of all impacted teams.

Customers / Stakeholders:

• Engage, inform, and advise the Delivery and BAU reporting teams.
• Educate BAU stakeholders on newer requirements such as Traceability and the Data Policy.
• Facilitate HBEU IRR decisions on prioritization and design.
• Guide delivery teams on remediation requirements to ensure these are delivered to standard.
• Influence and challenge BAU teams, IRR Central Team, dependent IRR delivery teams and programme partners, such as the Data & Analytics Office (DAO), to ensure IRR objectives are met and control outcomes are robust and sustainable.
• Delivery teams have clarity on requirements.
• Feedback from sponsors and stakeholders is positive.

Leadership & Teamwork:

• Drive awareness of the targeted control environment.
• Work with the Programme Director to ensure the HBEU IRR plans achieves the agreed risk reduction.
• Act as a role model for the Bank’s Values and Behaviours and cultivate an environment that supports diversity and reflects the HSBC brand.
• Active partnership with BAU and delivery teams.
• Effective collaboration across Finance, Risk, and other stakeholder teams.

Operational Effectiveness & Control:

• Ensure execution of operational risk assessment of new processes.
• Ensure IRR enhancements are designed sustainably.
• IRR processes and activities compliant with HSBC policies and regulations.

Major Challenges:

• IRR is dependent on in-flight change initiatives to deliver the Controls uplift and Operating Model change. The role holder does not manage these initiatives and has to cultivate a strong partnership and influence with each delivery programme/area.
• Balancing IRR Programme objectives with delivery of new regulatory requirements in a cost-constrained environment.
• Balancing functional requirements and delivery commitments within the realities of legacy global IT architecture and a cost-constrained environment.

Role Context:

• Regulators have increasing expectations around the accuracy of regulatory reporting.
• This role is set up to ensure that change activities in support of IRR achieve the reduction of regulatory reporting risk to an acceptable level within a time- and cost-constrained environment.

Management of Risk:

• 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 “Three Lines of Defense”.

Observation of Internal Controls:

• 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 optimizing relations with regulators.