Vice President Global Markets Product Control, FICC Oversight
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HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.
We are currently seeking an experienced professional to join our team in the role of Vice President Global Market Product Control, FICC Oversight.
Product Control (PC) is a critical support function to the Markets and Securities Services (MSS) and Markets Treasury (MKTY) businesses. It provides independent control and assurance of financials, product expertise, commercial insight and guidance to the business and other related support functions. The role sits within a team that is performs PC processes and deliverables supporting the Hong Kong Markets Treasury business, with a focus on quality, performance, and process design, to ultimately protect the quality of the bank’s financial statements. The role requires an understanding of key Profit & Loss (P&L) drivers and controls, and assisting in detection of inappropriate trading activity.
In this role, you will:
- Review and oversee production, analysis, explanation and reporting of the profit and loss (P&L) and balance sheet reports of the Hong Kong Fixed Income, Currency, and Commodities (FICC) business
- Oversee, validate, and improve overall control effectivity and integrity of processes to ensure accuracy of P&L and balance sheet in reporting systems.
- Produce a meaningful information pack (including insights) to enable effective decision making by PC Management
- Keep track of issues identified via oversight reviews so to ensure remediation is followed through
- Monitor and report Key Risk and Key Process Indicators (KRIs and KPIs). Oversee service delivery (timeliness/accuracy) across the FICC Product Control team’s scope
- Ensure support and delivery of strategic change initiatives within FICC Product Control. Drive standardization and process improvement and find innovative solutions with specific focus on improving controls and reducing operational risks.
- Work closely and very collaboratively with several different teams (both within and outside Product Control)
To be successful in this role, you should meet the following requirements:
- Preferably with background in financial, economic, accounting or mathematical subjects.
- At least 5 years of Product Control or similar discipline experience, preferably in Fixed Income, Foreign Exchange/Currencies, and Commodities
- Track record on process improvement and change delivery.
- Very good accounting and valuation knowledge.
- Very good written English and oral communication skills.
- Advanced MS Excel skills, quantitative skills, VBA or Python experience, or involvement in AI initiatives is an advantage.
- Excellent analytical skills, being able to (a) leverage technology of various forms, (b) understand complex data flows within processes, (c) analyse large and complex datasets, (d) understand complex computations, (e) identify drivers for certain behaviours/outcomes, and (f) identify potential alternatives/solutions
- Solid understanding of financial markets products (i.e. debt securities, money markets instruments, FX swaps, interest rate swaps, cross currency swaps, structured products, etc.). This entails the understanding of valuation techniques, associated risk sensitivities (i.e. greeks), and risk factor P&L analysis.
- Professional qualification such as CPA, CFA and FRM will be an added advantage.
- Willing to work in shifts schedules, change on weekly statutory rest day and weekly contractual rest day from time to time, depending upon operational and/or business requirements.
- Flexible to work at such premises of the Company.
Due to the urgent hiring need, candidates with immediate right to work locally and no relocation need will be prioritised.
You’ll achieve more when you join HSBC.
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Issued by Hong Kong and Shanghai Banking Corporation Limited Philippines