VP/Head - Impairment Data Production & Analysis GHRS - IFRS 9/US GAAP/IAS 139

Vice President - IFRS 9- US GAAP-IAS 139- for Chennai location

Description :

Business : Finance Role Profile Date: January 2016

Role Title : Head - Impairment Data Production & Analysis GHRS

New or Existing Role- New - Existing Position Classification : Permanent

Role Holder's Name Current Global Career Band : N/A

N/A Proposed Global Career Band : GCB 4

Immediate Supervisor's Name & Role Title :

Head of GFC Financial Control

Customer Segment & Location :

(Country/Department) Global Finance Centres, Chennai

Role Purpose (overall high level summary of the role) :

Context :

IFRS 9 Financial Instruments is the most significant accounting change since the initial adoption of IFRS. It aims to replace IAS 39, which is currently applicable for financial instruments accounting. IFRS 9 has three important strands, namely Classification & Measurement, Impairment and Hedging. Of, this the Impairment is the most significant change as it entails a move from an Incurred Loss approach to an Expected Loss approach.

This entails various activities around model development, calculation engine build out, data and systems interface and agreement on accounting treatment and related policies/processes. Similar to recent trends such as those noted in Basel III/CRD IV implementation, this requires a high level of Finance and Risk inter dependency and is therefore being driven as a joint risk-finance implementation programme with strong visibility and sponsorship at the Board level.

This role is focused on establishing and operating a Centre of Excellence to drive the production and analysis of Impairment related information, both from an accounting perspective and to facilitate enhanced risk management. Further, given its linkage to initiatives such as the RWA production and management and stress testing, this will from an operational level necessitate working closely with these streams and also leveraging off common data platforms, standards and utilities.

Role Summary :

The key responsibilities for this role include :

- Engage with key stakeholders in designing a robust and fit for purpose process to generate Impairment related data and metrics.

- Align with other workstreams such as RWA production and Stress Testing to provide inputs in building common data platforms and utilities.

- Lead and conduct User Acceptance Testing to drive consistency and efficiency.

- Review and validate data against expected quality criteria, log, investigate, escalate and resolve data quality issues

- Facilitate and review manual amendments, enrichments and overlays to ensure that the data is of the desired quality and initiate action to eliminate exceptions

- Analyse key changes and identify business drivers to facilitate analysis and commentary for group disclosures and to address market expectations/queries.

- Facilitate data sign-off by the CROs & CFOs

- Provide leadership to the team through ongoing engagement, appropriate training and coaching interventions and facilitating transparent communication including with stakeholders.

Principal Accountabilities : Key activities and decision making areas Typical Targets and Measures

Impact on the Business :

- Design a fit for purpose impairment data and metrics process in engagement with key stakeholders

- Identify opportunities and actively engage in the development of common data platforms and utilities in close association with related workstreams

- Lead and conduct the UAT to drive consistency and efficiency

- Review, validate and adjust data to meet expected quality criteria and initiate steps to eliminate exceptions

- Proactively manage and improve the quality and consistency of the data Review the analysis of key changes and the underlying business drivers to support disclosures and analyst queries Ensure timely data sign-off by CROs and CFOs and manage exceptions

- Effectiveness of the data and metrics

- Effectiveness of common data platforms and utilities

- Effectiveness of the system and the processes

- Quality of the analysis and commentary

- Timely sign-off of the impairment data and the metrics

Customers / Stakeholders :

- Engages with stakeholders through fact based conversations, building strong relationships to ensure consensus

- Anticipates and addresses queries and concerns from stakeholders and resolves them in an effective manner

- Positive feedback and improving engagement

- Timely and effective resolution of all queries

Leadership & Teamwork :

- Provides leadership to the team providing guidance, coaching and feedback to improve effectiveness

- Engage with leads and colleagues across all functions and regions to promote consistency and teamwork

- Effectiveness of the team

- Effective collaborating across team at relevant level of the organisation

Operational Effectiveness & Control :

- Develop and maintain robust operational control environment

- Adherence to compliance standards

- Anticipates and identifies existing or emerging risks / issues. Manages the tracking of requirements risks / issues / dependencies, and assesses the impact on the delivery. Proactive approach to process improvement

- Minimal exceptions

- Process efficiencies realized :

Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities) :

- Understanding complex data flows and accounting requirements

- Communicating with stakeholders across functions in diverse locations and establishing working relationships

- Absorbing concepts, defining the approach and developing processes with limited hand-holding

- Pressure to deliver within fixed regulatory timelines in an environment of ambiguity

Role Context (The environment and operating conditions of the role including the extent of guidance and authority) :

- During the build phase of the programme, the jobholder will focus on the UAT, designing the process-flows and training the team members. During the subsequent phases, the focused shall be on data integrity and output quality

- The immediate team will be approximately 5 FTEs, working closely with the credit risk, systems and finance teams

- The jobholder is expected to be a self-starter and able to adapt to changing demands as the project progresses

Management of Risk (Operational Risk / FIM requirements) :

- The jobholder will also continually reassess the operational risks and likelihood of operational risk occurring. This will be achieved by reviewing risks associated with the role and inherent in the business, taking account of changing global economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new processes. Effective and timely remedial action should be evidenced.

Observation of Internal Controls (Compliance Policy / FIM requirements) :

- The jobholder will adopt the Group Compliance Policy by escalating any identified compliance risk in liaison with, 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.

Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. inUSD- 000) :

Headcount reporting to this role Direct : 4 - Indirect: 0 - Total: 4

- The overall size of the team including direct and indirect reportees may grow upto 20 over the period of time

Knowledge & Experience / Qualifications (For the role - not the role holder. Minimum requirements of the role.)

Technical Skill Requirements :

- Strong data / systems background or a strong risk or regulatory reporting background is essential

- Advanced technical skills (MS Excel, and other systems) including experience in business intelligence tools

- Strong data mining and analytical skills, including hands-on experience in managing large volumes of data with a proven ability to interpret and comment on data movements

- A good understanding of the accounting standards and the concepts would be useful

- Understanding of the regulatory reporting requirements or Basel II credit risk calculations would be an advantage

Operational Requirements :

- Proven track record of designing, implementing and operating processes

- Operations management including process governance and stakeholder management

- Experience of system implementation

Personal Skill Requirements :

- Strong execution and problem solving skills

- Ability to work under pressure, report to tight deadlines and deal effectively with issues as they arise

- Effective Team Player - very collaborative, communicates progress, status and issues on a regular basis.

- Ability to present information in a professional manner and respond to questions from all levels of management

- Excellent written / verbal communication skills

- High degree of motivation and commitment

- Ability to work in a dynamic environment and adapt to frequent and multiple changes

Organisational Chart (Complete or insert organisational chart for the role here) :

Approvals (provide name & date approval received ):

LOCAL:

(All Bands) REGIONAL :

(Bands 3+) GROUP :

(Bands 1+) :

Immediate Supervisor : Regional Business Head: Group Business Head:

Business / Department Head : Regional HR / Reward Group Performance & Reward

HR / Reward Head : ( if regional reporting line is applicable )