The health and safety of our employees and candidates is very important to us. Due to the current situation related to the Novel Coronavirus (2019-nCoV), we’re leveraging our digital capabilities to ensure we can continue to recruit top talent at the HSBC Group. As your application progresses, you may be asked to use one of our digital tools to help you through your recruitment journey. If so, one of our Resourcing colleagues will explain how our video-interviewing technology will be used throughout the recruitment process and will be on hand to answer any questions you might have.
Some careers shine brighter than others.
If you’re looking for a career that will help you stand out, join HSBC and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
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 Assistant Vice President Global Markets Product Control.
The Valuation Control function is responsible for ensuring that traded products are completely & accurately recorded in HSBC’s books and records in accordance with applicable accounting standards. Valuation Controls are designed to ensure appropriate valuation of the traded products portfolio, an understanding of key Profit & Loss (P&L) drivers, assessment of reasonableness of execution margins, and to assist in detection of inappropriate trading activity.
In this role, you will:
· Production, analysis, explanation and reporting of the daily trading profit and loss.
· Review and investigate daily exception reports. This includes (but not limited to) monitoring of PTS-GL reconciliations, BOS exceptions, deal activity, controls over accrual books and hedge accounting, FX daily activity and FX corporate margins.
· Provide independent review, monitoring and challenge across benchmark submissions made across the bank/business.
· Provide system administration and governance for book opening process.
· Ascertain reasonableness, propriety and integrity of the account balances through reconciliation and substantiation.
· Review of adequate operational effectiveness of the Fair and Prudent Valuation Adjustments control framework.
· Preparation of periodic reports primarily required for regional and group reporting. This include (but not limited to) Fair Value Adjustments, Hedge Accounting, Mark to Market Since Inception, Day 1 P&L Reserves.
· Coordination with internal and external auditors during regular audits.
To be successful in this role, you should meet the following requirements:
· Preferably with background in financial, economic, accounting or mathematical subjects.
· Product Control experience, preferably in FX, Rates, or Equities.
· Very good accounting and valuation knowledge.
· Very good written English and oral communication skills.
· Advanced MS Excel skills, quantitative skills, MS Access or VBA experience, or involvement in Robotics Process Automation (RPA) project initiatives is an advantage.
· Excellent analytical skills, interpersonal skills and a proactive approach to problem solving.
· 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.
Candidate with less relevant experience or skills may be offered a lower Global Career Band than stated above.
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.
www.hsbc.com/careers
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Issued by Hong Kong and Shanghai Banking Corporation Limited Philippines