AVP Product Control

Business Descriptor:

Global Finance

Global Finance is integral to HSBC's purpose and strategy, playing a valued role in managing costs and deploying capital in the most effective way. Our global team of finance professionals partner with the business to provide trusted insights and forward-looking analysis; accuracy; efficiency and control to frame and influence business decisions.

We are currently seeking an experienced professional to join the Global Markets Product Control team.

Principal Responsibilities:

• Strong understanding of P&L processes (reporting, attribution), valuation principles of Global Markets products, ensuring accuracy and completeness
• Ensure Independent Price Verification (IPV) and Fair Value Adjustments (FVA) are performed in line with internal policies and IFRS/GAAP requirements
• Maintain and monitor valuation reserves, ensuring they are justified and documented
• Ensure compliance with internal control frameworks, accounting policies, and regulatory requirements (e.g. IFRS 13, Basel III)
• Coordinate with internal and external auditors, providing necessary schedules and explanations. Close involvement in handling various audit requirements of local regulatory audit, internal audit, statutory audit, and other compliance reviews along with working towards the closure of audit findings
• Maintain robust documentation for valuation methodologies and control processes
• Work closely with traders to provide financial insights that support business strategy
• Resolve client valuation-related queries
• Report various financial and management reports as prescribed by applicable regulations like RBI / HKMA / PRA etc. and ensure adherence to HSBC's internal guidelines related to P&L, valuation, and balance sheet controls
• Periodic review of various internal policies on Fair Valuation Adjustments, Prudent Valuation Adjustments, Fair Value Levelling, Day 1 PL reserving, etc.
• Participate in Product Control-related IT projects by providing user requirements, performing UAT, and post-implementation reviews
• For all new business products launched, provide inputs on the above-mentioned areas
• Actively participate in regional projects, local/internal audits, and other key areas
• Understand the Risk and Control framework including SOX and help track and escalate incidents and operational losses related to Product Control

Education Qualifications / Certifications and Requirements:

• A strong understanding of finance processes and an accountancy or finance postgraduate degree
• Relevant experience (min. 2 years) in a finance environment, with wide product knowledge across a number of Global Markets asset classes
• Strong understanding of the traditional Global Markets trade lifecycle and of the relevant risk control principles within this
• Experience of working in a similar organizational structure with a number of onshore and offshore contact points and managing teams
• Good data analytics and digital transformation skills. Ability to work with large amounts of data, analyse the same and present them in a concise meaningful form
• A strong written and verbal communicator, used to interacting with colleagues and stakeholders at all levels including senior leadership teams
• Familiarity with AI-enabled tools is an advantage

As an employee, you are required to perform your duties in a professional capacity exercising independent judgement, discretion and decision-making authority in planning, organising, directing work, supervising and appraising the work of team members, as applicable; and taking accountability for delivery outcomes. You will represent the organization with relevant internal and external stakeholders. You will allocate and prioritize work, provide direction and feedback, manage team capacity and leave in line with policy as applicable.