Assistant Manager - Product Control - Global Markets - Bank

Salary offered: 7 - 13 LPA

Description

Global Service Delivery is a business-aligned, customer-servicing organisation with the primary objective of driving operational excellence across our businesses worldwide. Achieving this through the consolidation, simplification and continuous improvement of processes across the full range of its operations, the division simultaneously takes responsibility for managing operational, location and Chief Operating Officer - Global Finance Centre

Customer Segment & Location:

Global Markets Product Control, Europe Satellite Sites.

Role Purpose

Global Markets Product Control is a division of Global Banking & Markets Finance responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. In this regard, Product Control will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued.

The desk is responsible for preparing and reporting of P&L and balance sheet to the business and ensures the accuracy and integrity of the general ledger. The desk is responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. The desk will work closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business.

The role will require expertise of financial products, understanding of business strategy, full ownership of P&Ls and core reconciliations, leading change projects (workspace and regulatory) as well as the ability to communicate effectively at a senior level with all stakeholders. The employee may be obliged to go on business trips as required by his/her professional responsibilities. The employee is expected to handle the desk on his/her own, flexible to work with changing shifts and able to sustain long working hours on continual basis.

Principal Accountabilities: Key activities and decision making areas

- As an individual contributor, he/she is expected to deliver P&L production, analysis & commentaries, P&L and balance sheet reconciliations & substantiation and reporting activities pertaining to the Global Markets business.

- Ensure service delivery of Finance Product Control processes per the standards set out in agreed SLAs within the HSBC Global Resourcing operating framework taking into account key operational risk (including people & processes) and ways to mitigate them and operating a well-defined control environment.

- Initiate and implement high-impact quality projects leading to operational efficiency and higher productivity (within Six Sigma, Lean process improvement methodology).

- Continuous review of processes with the objective of improving the service delivery time frames and identify areas of improvement.

- Providing assistance to the people manager in day-to-day and periodic reporting requirements and provide leave and off-days cover for him.

Customers / Stakeholders:

- Be joined up with business partners at all levels and maintain a confident, skilful, intelligent, and reassuring connect to encourage GFC Product control being an integral point of contact in all new initiatives by Global PC.

- Manage stakeholder relationship with :

In-country teams - Product Control, Operations, Valuation control, Risk, Finance, Senior Management, IT teams

Operational Effectiveness & Control

- Adherence to Group policies, audit, controls, and compliance requirements including but not limited to Declaration of secrecy, data protection act, health, safety and security, clear desk policy

- To continually assess the operational risks inherent in the processes, taking account of changing operating procedures, legal and regulatory requirements and the impact of new technology.

- Assist people lead in effectively driving and managing change, plan business contingency and achieve cross-training

- Assist people lead in ensuring BCP plan is documented, agreed with business partner and tested as per agreed timelines.

Constant focus on operating efficiently and improving processes while maintaining a strong control environment

Typical KPIs and Targets

Performance Standards as defined in SLA met or exceeded

Minimal errors Six Sigma approach

Re-engineering opportunities identified and implemented

Feedback on service delivery received from Business Area

Resolution of exceptions and outstanding breaks and prompt escalation for material issues.

High quality investigations and analysis produced, appropriate commentaries for movements and accuracy of observations

Ensuring nil high or medium risk Group Audit observations.

Timely and accurate MI produced with minimal queries against required deadlines

All queries acknowledged and resolved in a timely manner

Timely and accurate delivery of process objectives per the agreed SLA

Zero control issues

Re-engineering opportunities identified and implemented for effective control and time management.

Knowledge & Experience / Qualifications

- Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with at least 2+ years of experience, or Graduate in Commerce with 4+ years of relevant experience in Product Control or Global Markets environment and organization of similar scale with US GAAP, IFRS, IAS reporting framework with an interest and aptitude for derivative products

- Knowledge of Product Control functions in a banking environment with exposure to traded markets products is mandatory.

- Expert knowledge of various products including but not limited to Interest Rate swaps, Cross Currency & Basis swaps, Forward Rate Agreements, Equity Derivatives, Credit Derivatives, Bonds, Repos, FX Options, Money Market instruments, Credit default Swaps, Total Return Swaps, FX products etc.

- Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint. Knowledge of Visual Basic, Access databases and macros will be an added advantage.

- Proven ability to manage migrations of finance processes and exposure to diverse/multi-culture work environments with strong organization, time management and prioritization skills.

- Accounting knowledge specializing in derivative products and fixed income products.

- Excellent communication skills and presentation skills are mandatory, as are good tact and diplomacy, as the role requires relationship management with other individuals and teams within the HSBC Group

- Interpersonal skills: persistent, ability to work effectively with senior & junior staff, ability to challenge inputs from senior colleagues in a constructive manner, ability to give feedback positively, co-ordinate work across multiple teams, multi-task.

- Ability to multitask and deliver quality work under pressure.

- Ability to deliver projects and processes while sustaining long working hours on a continual basis.

- Strong analytical and problem solving skills with good attention to detail.

- Flexibility to travel and readiness to work in shift hours in different time zones.

Management of Risk

- Manage Product Control processes in accordance with the group's FIM reporting requirements

- Ensure all regulatory reporting requirements are considered e.g. SOX

- Any process re-engineering must comply with the applicable control environment

Observation of Internal Controls

Adherence to Group Finance Instruction Manual and departmental controls