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Global Risk is a thriving and expert risk management function supporting HSBC globally with all aspects of risk management. The team actively manages a varied and dynamic range of risk types, including security, fraud, information security, contingency, geopolitical, operational, credit, pension, insurance, financial crime and regulatory compliance, market and reputation risks. All parts of the Global Risk team use their skills, insight and integrity to handle established threats and those they see emerging, acting to protect and enable HSBC to deliver sustainable growth.
IFRS 9 Financial Instruments is the most significant risk and accounting change since the initial adoption of IFRS, and one of the most significant changes in credit risk measurement since Basel II.
IFRS 9 is a HSBC Group flagship initiative, with strong visibility at Board level and offers an excellent opportunity for individual development and career progression. It involves facing off to numerous areas of the bank and working together to produce Impairment provisions which ultimately get reported into the financial statements.
The Senior Manager role will report to the Global Head of Wholesale Impairment and will lead a team of 2 Onshore and 6 Offshore FTE and provide oversight to support the aggregation, review and deep dive analysis of IFRs Impairment risk numbers.
Tasks include but are not limited to:
Ensuring the team are performing Review and Challenge activities for key regions in a timely manner, including:
Expected Credit Loss (ECL) analysis, assessing modelling and non-modelling drivers of results
Review CRR concentration, LGD/PD/EAD Analysis
Identifying themes across the entire Wholesale Risk Portfolio
Providing commentary for ECL results and assisting in making strategic suggestions
Simulations of scenarios
Timely preparation of necessary decks to present at senior meetings
Ensure compliance to Group policies and governance and controls framework
Strong ability to build and manage relationships across a range of seniorities
Ensuring smooth running of a new Operating Model and Governance process introduced for IFRS 9
Be the key regional Lead for review & analysis of HBEU, HBUS and HBCA region.
Working with Group Risk Analytics teams to understand credit risk methodology's relating to IFRS 9
Coordinating activities with Stress Testing, Sovereign Risk & Forward Economic Guidance Teams
To be successful in the role, you should meet the following requirements:
Understanding of IFRS 9 and the IFRS 9 impairment process or alternatively of RWA/stress testing processes
Understanding of financial close processes
Understanding of financial reporting controls and sox processes
Understanding of Finance & Risk processes at HSBC or a Global Bank
Ability to a provide a proactive focus on risk/issue identification and mitigation, recognising where MI should be escalated for further review
Promote a culture of control awareness and best practice across the IFRS 9 impairment process
Ability to effectively work with global and regional teams in Risk, Finance and relevant Transformation functions.
Ability to lead offshore teams
Capability to provide adequate challenge where necessary
Ability to demonstrate leadership qualities across the impairment process
ACA or ACCA or CISI or CSA qualified, relevant professional qualification, or relevant advanced degree
Ideally experience of credit risk management and/or measurement
Communication with senior stakeholders, e.g. lead technical discussions, prepare executive-level commentary and technical papers etc.