Head of Financial Accounting Insurance and Asset Management

If you’re looking to take an exciting new direction with your HSBC career, an internal move can open the door to many opportunities, allowing you to take on a new challenge, and develop your skills. Bring your knowledge of our brand to a new role and grow yourself further.

We are currently seeking an expert individual to join this team in the role of SVP – Head of Insurance & Asset Management Financial Accounting.

Role Context:

• This is a senior leadership role responsible for managing and transforming the Finance processes for both Insurance and Asset Management businesses, supporting multiple legal entities and engaging with a diverse set of stakeholders globally.

• The process encompasses oversight of General Ledger accounting, financial reporting, local statutory reporting, intercompany reconciliations, as well as balance sheet reconciliations and substantiation. The role involves leading disclosures and monitoring accounting developments in line with new accounting standards and related updates. The role holder is responsible for ensuring compliance with HSBC accounting policies, relevant regulatory requirements, and applicable local standards and policies.

• There is a strong focus on transformation, and the role holder will be responsible for reviewing end-to-end processes and controls, while working closely with both upstream and downstream teams (Operations team, Investment teams, HSS (HSBC Securities Services), GB/GF (Global Banking / Global Functions), ServCo (Service Company), Tax, Audit, etc.) to optimize the overall process. The role holder will also work with sub-process owners across the end-to-end process to drive simplification.

• The role holder will represent the function in key governance forums including Steering Committees, Financial Reporting Committees and Control Committees, actively contributing to discussions and decision-making. The role holder will be responsible for cascading key outcomes to the team and ensuring effective follow-through and implementation of actions arising from these forums.

• The incumbent will ensure the effectiveness of the internal control environment by establishing and maintaining robust process controls, safeguarding the accuracy and integrity of financial accounting and ensuring the reliability of financial accounting & reporting.

• The role will provide leadership to a team of 80+ people across NCR and Chennai sites. The role also provides an opportunity to engage with multiple stakeholders across management levels and to drive through a strong change agenda.

• This position will report to the Head of Financial Accounting Operations and support the Insurance & Asset Management Contollership Leads.

Principal Responsibilities:

• Technical Expertise: Deep knowledge of Insurance and Asset Management accounting, reporting, and control frameworks.
• Transformation Experience: Proven track record of driving re-engineering, process synergies, and technology-based solutions.
• Stakeholder Management: Experience working with diverse, senior stakeholders in a matrix organization.
• Communication: Strong written and oral communication skills; ability to convey complex transformation agendas simply to a global audience.
• Leadership: Demonstrated ability to lead large teams, manage performance, and drive a strong change agenda.
• Problem Solving: Ability to analyze unstructured problems, challenge existing procedures, and deliver practical solutions.
• Governance: Experience operating in senior governance forums and handling auditors.
• Adaptability: Ability to work under pressure, adapt to frequent changes, and deliver to tight deadlines.

Customers / Stakeholder management:

• Effectively manage key relationships with senior stakeholders, including the Insurance & Asset Management Finance Controllers, IWPB (International Wealth and Premier Banking) CFO & Financial Controller, Group Reporting Leadership etc.
• Demonstrate a robust understanding of all key internal and external stakeholders and their individual priorities.
• Demonstrate effective relationship management with stakeholders at all levels
• Continuously engage and support stakeholders on evolving business and functional requirements
• Establish an effective and robust communication channel with multiple stakeholders to ensure timely flow of information and continuous feedback mechanism
• Engage with stakeholders through fact-based conversations, building strong relationships and providing challenge, where appropriate
• Anticipate and address issues and concerns from stakeholders, resolve them in an effective manner

Leadership & Teamwork:

• Demonstrate leadership, including the provision of guidance, coaching and timely feedback to improve effectiveness
• Support the retention of key talent, and the attracting and developing new talent and skills
• Engage with leads and colleagues across all functions and entities to promote consistency and teamwork.
• Design and enable training on transformation – with a particular focus on developing commercial acumen, business partnering capabilities and technical accounting knowledge
• Provide an escalation point for the resolution of issues and support the management of workloads to meet business critical deadlines
• Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
• Cultivate an environment that supports diversity and reflects HSBC values.

Operational Effectiveness & Control:

• Lead and develop an effective control environment
• Support the review and assessment of overall accounting and reporting process performance, opportunities to improve, and eliminate root causes of operational issues
• Maintain and drive strong controls around data integrity and accuracy for all deliverables
• To continually assess the operational risks inherent in the processes, taking account of changing operating procedures, staff movements, legal and regulatory requirements, management restructures, and the impact of new technology
• Effectively drive and manage change, plan business contingency and achieve cross-training
• Ensuring BCP plan is documented, agreed with business partner and tested as per agreed timelines.
• Drive Finance Location Strategy

Requirements:

• Proven track record of driving re-engineering, process synergies and technology-based solutions
• Ability to work under pressure, report to tight deadlines and deal effectively with issues as they arise
• Effective team player, very collaborative, communicates status and issues on a regular basis;
• Ability to effectively manage the competing views and opinions of multiple senior stakeholders and ensure timely delivery
• Strong people skills and a high degree of motivation and commitment.
• Experience in designing, implementing and validating the effectiveness of process controls
• Commercial mindset with strong execution and problem-solving skills.
• Ability to communicate complex and technical messages to stakeholders at all levels of the organization.
• Ability to work in a dynamic environment and adapt to frequent and multiple changes 

Technical Skill Requirements:

• Recognized professional accounting qualification with 20+ years of experience predominantly in Finance, including in leadership positions managing complex requirements from senior stakeholders
• Deep understanding of relevant accounting frameworks (e.g., IFRS International Financial Reporting Standards /IAS International Accounting Standards), with the ability to interpret and apply new or evolving standards.
• Working knowledge of financial systems and reporting tools ( GL systems (General Ledger systems), Financial consolidation tools, data platforms).
• Experience in managing or contributing to finance transformation projects, system implementations or organizational change initiatives.
• Knowledge of emerging technologies, including AI and automation and guide the team in adopting these tools to improve efficiency, controls, and overall process effectiveness.
• Experience of operating in senior governance forums & handling auditors
• Strong formal written reporting skills and experience of drafting papers for Board-level audience

You’ll achieve more at HSBC 

HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”

***Issued By HSBC Electronic Data Processing (India) Private LTD***