Job Description

<p>At HSBC, we’re a trusted international organization with a global customer base of around 39 million customers worldwide through a network that covers 62 countries and territories. In Europe, our ambition is to become the leading international wholesale bank and we need talent like you to help us meet our ambition. Whether you want a career that could take you to the top or in an exciting new direction—we offer opportunities, support and rewards that will take you further. Here in France, you’ll help evolve and grow our business.</p><p>What you’re going to do:</p><p>The Product Control function provides independent control and assurance, product expertise, commercial insight and guidance to all businesses involved in trading activities throughout HSBC. We also partner the business to achieve sustainable financial performance. The role of Head of Product Control HBCE will be a critical role in the Global PC structure, responsible for a team of circa 30 people and covering 3 main areas of Core Product Control, Valuations & Analytics (V&A) and Reporting.</p><p>HBCE PC covers responsibility for Product Control presence or activity (regardless of if there is a dedicated team presence or not) supporting Markets Securities Services (MSS) and Markets Treasury businesses across the locations and across the business lines of Global Debt Markets, Equity, Global Foreign Exchange, and Markets Treasury but also covers businesses outside of Markets.</p><p>Core Product Control is responsible for ensuring the accurate reporting of Front Office based P&L and ensuring that the trading assets and liabilities are recorded at fair value. This includes providing an analysis of the components of P&L to provide insight into the apparent sources of P&L and enable assessment of these against expectation based on knowledge of trading portfolio, trading activity, market movements and other factors.</p><p>The team is also responsible for ensuring that the Balance Sheet of the Global Markets Business is fully controlled and substantiated.</p><p>The Valuations and Analytics team in Product Control is a global team responsible for all aspects of the calculation of Fair Value for traded instruments in Markets and Securities Services (MSS) and Markets Treasury (MKTY). Valuations and Analytics Group is part of Global Product Control and is split into 4 main areas of Quantitative Analytics including Models, Fair Value Methodology and Production, and Reporting Governance & Analysis.</p><p>The team supports Product Control, Market Risk Management, Front Office and undertakes work within all derivative asset classes with focus on those asset classes that make use of quantitative models.</p><p>As well as day to day management of the team based in Paris, this role will be responsible for the management, development and execution of the Product Control strategy and transformation objectives for HBCE covering all businesses directly regulated by the European Central Bank (ECB). The role holder will functionally report to the Regional Head of PC, EMEA with an entity line to the HBCE CFO. The roleholder will be part of the Global PC Leadership team and will help drive performance, organisational agility, standardization and best practice through people and change strategies.</p><p>The role is responsible for the operational output of Product Control teams, ensuring that the principals and processes that are in place to ensure the accuracy of HSBC financial statements for traded products across the Group, are independently checked for resilience and for compliance with internal and external policy and compliance with FIM.</p><p>Principal Accountabilities:</p><ul><li><strong>Leadership and Impact:</strong> Help design and implement an effective and agile organizational structure that drives standardization of PC globally.</li><li>Demonstrate leadership and role model behaviors for the function and the business.</li><li>Champion the PC delivery model and PC objectives, leading from the front.</li><li>Lead and drive the development of PC frameworks and tools, engaging and leveraging both IT and change to achieve PC objectives.</li><li>Ensure the creation of a sustainable and inspiring culture, with a balanced and fulfilling working environment to support performance and the aspirations of our identified talent.</li><li>Provide consultative guidance to the HBCE PC team to direct the implementation of PC policy and change initiatives that is practical and delivers measurable results.</li></ul><p>Drive efficiency of organizational structures and processes, including identifying and building the capabilities needed to meet the current and emerging business needs. Drive the Talent management agenda using a strategic mindset to develop key and critical talent, identifying and debating successors for key positions, ensuring continual focus on inclusion and diversity.</p><p><strong>Coaching and Development:</strong> for leaders, facilitating provocative discussion, building leadership capability and authenticity. Lead conversations that drive the purpose, strategy, and values through all key decision-making areas.</p><p><strong>Strategy:</strong> Maintain an Independent Control Function. Define future HBCE structure including the tie in with Krakow PC and contribute to Global Product Control (PC) capabilities required to deliver Global PC strategy and drive HBCE PC towards its desired target operating model, ensuring the model is maintained and updated as required. Drive continuous improvement, consistency and collaboration between teams. Increase efficiency and improved controls through procedure, process and cultural change.</p><p>To develop and lead the team through major challenges of migration and transformation whilst maintaining focus on controls.</p><p><strong>Customer / stakeholder relationship:</strong> Provides relationship management and advice to both the local CFO, the Global/Regional Head of PC and senior PC and Finance Management on strategic and operational challenges, by leading the alignment to Global PC strategy and articulating the value to the teams and to the business and other stakeholders.</p><p>Proactively collaborates with the wider PC and Finance Team including the Financial Control and Accounting Policy teams to understand overarching core issues, to leverage ideas and ensure consistent services and processes providing a ‘consistent’ employee and leadership experience of PC.</p><p>Leads People related aspects of change programmes across the GBM and PC organisations, enabling others to commit to the journey, mobilising the cross functional resources required and taking responsibility for the change journey from design to delivery.</p><p>Help the PC teams partner the Business to facilitate sustainable infrastructure, processes and control environment for new Products or Business Lines within Global Banking & Markets, provide a high level of service for the relevant stakeholders. (FO Global Markets Businesses, Product Control onshore, Market Risk Management, etc.)</p><p><strong>Risk:</strong> Active assessment and identification of reporting / control weakness impacting Group financial statements reported externally to shareholders. Ensure PC Best Practice Guidelines and other applicable regulatory standards are met.</p><p>Ensure compliance with internal and external guidelines and policies, including FIM. Liaise with Internal/External audit and regulators where necessary. Ensure escalation paths across the global operating model are clear and well understood.</p><p>Understand end-to-end Product Control processes and operating model, from trade booking in primary trading systems, through accounting and other operational systems to the general ledger and risk systems, market environment impact, p&l analysis, valuation adjustments, use of models and algorithms, and reporting to ensure key controls and the operational risk are known, understood and controlled/mitigated.</p><p>Enforcing robust risk governance and ensuring Risk Owners, Control Owners and Stakeholders manage key risks and remediation activity in a timely manner. Identification and resolving production exceptions and working closely with local and in-country teams to resolve exceptions.</p><p>To operate in the most effective, efficient and commercial manner balancing risk and rewards.</p><p><strong>Cost:</strong> Maintain focus on cost efficiency and identify opportunities to enhance cost efficiency where possible (e.g. automation, outsourcing, centralization etc.) Oversight of hiring, budget considerations, interviewing, etc. Work with key stakeholders to agree Annual Operating Plans and coordinate reviews to ensure achievement of plan. Managing the annual PC AOP cycle.</p><p><strong>Customers / Stakeholders:</strong> Global PC and Finance Senior Management, Global / HBEU / HBCE / HBUS and Other Site Product Control & GBM Finance Senior Management, HBEU / HBCE / HBUS and Other Site Product Control teams, Financial and Accounting Control team, Traded Risk and Businesses based in France and globally.</p><p><strong>Operational Effectiveness & Control:</strong> Ensure that there is full compliance with the Global Markets FIM. Integrity, conduct and performance against ethical standards. Documented knowledge of the role. Facilitate automation of manual processes to improve productivity. Prompt resolution of problem issues and management queries related to the relevant product lines.</p><p><strong>Major Challenges:</strong> This is a high profile role with a focused team that is currently in a state of change and transition; the role holder will need to help go through a transformative process, in a changing market environment with challenges around retention and development of talent. The roleholder will operate in a complex environment, where simplification and standardization is key. The role requires engagement with multiple senior stakeholders at a very senior level of the organization and other onshore stakeholders in order to fully understand expectations and delivery requirements. Role requires balancing complex stakeholder needs and expectations and should continually strive to manage ambiguity through collaborating with global colleagues and share this global perspective to build effective teams who in turn develop future talent.</p><p>Rapid response to issues as they arise. Ability to drive quickly to the heart of an issue and propose appropriate solutions is key. Role will require the application of several skills at once (such as business acumen, data judgment, leadership). This is a complex and operationally demanding area that will require monitoring and hands on engagement.</p><p><strong>Role Context:</strong> The position provides key operational and strategic oversight of HBCE Product Control and includes dealing with substantial teams based in other sites like Krakow. The role is a senior role within the Global PC structure overseeing a team of circa 30 people with additional teams based in Krakow providing operational support.</p><p><strong>Management of Risk:</strong> (Operational Risk / FIM requirements) Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.</p><p><strong>Observation of Internal Controls:</strong> (Compliance Policy / FIM requirements) Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.</p><p><strong>Conditions:</strong> Apply if you feel you match these skills:</p><ul><li>University graduate from a reputed institution in accounting, financial, or economic subject or in Mathematics, Physics, Engineering or similar, with c. 10 years of relevant experience.</li><li>MBA or CA/CPA professional accounting qualification will be an advantage.</li><li>Significant experience in Product Control and knowledge of GM products, accounting, valuations, controls, systems and models.</li><li>Makes good decisions based on a mix of analysis, wisdom, experience, and judgment; sought out by others for advice; operates with integrity and trust. Demonstrating a high degree of commercial acumen.</li><li>Strong analytical skills and a proactive approach to problem solving.</li><li>Strategic agility – sees ahead, connects dots, can anticipate consequences and trends - able to translate business strategy into people strategy and tactical execution – knows how to get things done with and through others, and operational excellence.</li><li>Proven ability to develop and deliver people transformation and change in a large scale and complex business with significant offshore presence across multiple sites and geographies.</li><li>Translating complexity and ambiguity into impactful delivery.</li><li>Strong coaching, facilitation, and consultancy skills with a proven track record of being able to influence at all levels and especially the Executive level.</li><li>A high level of thought leadership and external insight on emerging best practice on GBM and HR given the significant transformation agenda of the business.</li><li>Well versed on emerging regulation/tech/innovation and impact on the future of work.</li><li>Excellent written oral communication and comprehension skills, and presentation skills.</li><li>Strong communication (both verbal and written including English) and presentation skills.</li><li>Sound judgment and problem-solving skills, ability to think laterally.</li><li>Ability to establish and maintain strong collaborative partnerships across HSBC.</li><li>High level of professional and personal integrity.</li></ul><p>Even if you feel you do not fit 100% of our qualifications, we encourage you to not let this hold you back from applying if you believe this is the role for you.</p><p><strong>What you’ll get in return:</strong></p><ul><li>We’ll help you progress your career, including access to development programs, mentoring and coaching, as well as world-class training through HSBC University.</li><li>You can work your way and will have a say in when, where and how you and your team flexibly work together.</li><li>Our flexible benefits will give you financial security, including employer-funded pension, Holiday vouchers based on your reference tax income.</li><li>Our family-focused benefits can help you to support your loved ones, including partial reimbursement of childcare costs, allowance for parents of children with disabilities, days off for key events (weddings, moving house).</li><li>We’ll give you a huge range of resources that support your mental, physical and social well-being, including free access to Headspace app, health checks, 5 weeks paid vacation.</li><li>You’ll have opportunities to work internationally - this can be your place to start and branch out to anywhere we have offices.</li><li>You’ll be able to join our Employee Resource Groups that bring together colleagues with shared characteristics and common interests.</li></ul>