CFO, HSBC UK

Role Purpose The role of CFO HSBC UK involves leading and managing the Finance function in alignment with the Group's Risk Management Framework to ensure the bank's financial control and viability. The CFO is accountable to the Entity CEO, Group CFO, and HSBC UK Board of Directors for delivering financial reporting, capital management, and liquidity risk management. This includes maintaining the firm's recovery plan and resolution pack, conducting resolution assessments where relevant, and managing internal stress tests for HSBC UK and its subsidiaries as appropriate.

Governance and Committee Memberships Role holder will be a Leadership Team member of Finance and HBUK

• HBUK lines of business: LT, Risk Management Meeting, Operating Committee
• Finance Function: LT, Risk Management Meeting
• CFO and Board member of HSBC UK Bank plc, and attendee of Audit & Risk Committees

Principal Accountabilities: Key Activities and decision-making areas Business Strategy Definition

• Provide counsel, advice and challenge to HSBC UK leadership for key business decisions based on Finance expertise, including the allocation of resources, capital /RWAs
• Contribute to cross-geography strategies to maximise shareholder value based on thorough understanding of key trends, opportunities and threats impacting the Group

Execution

• Develop the financial plans for HSBC UK and put in place appropriate controls to measure performance against plan and take corrective action, where necessary.
• Execute the following prescribed responsibilities for HSBC UK Bank Plc (the firm) in line with their Statement of Responsibilities:
• Responsibility for Internal and external stress testing, including climate stress and Resolution and Recovery planning
• Responsibility for managing of the allocation and maintenance of the firm's capital, funding (where applicable) and liquidity
• Responsibility for the firm's treasury management functions
• Responsibility for the production and integrity of the firm's financial information and its regulatory reporting
• Responsibility for developing and maintaining the firm's recovery plan and resolution pack and, where relevant, resolution assessment, and for overseeing the internal processes regarding their governance
• Responsibility for ensuring that those aspects of the firm's affairs for which a person is responsible for managing are in compliance with the ring-fencing obligations
• Develop robust and consistent management information frameworks to equip HSBC UK leadership with non-financial and financial information required to steer the business; develop and recommend reporting standards, processes and systems across the legal entity and line of business
• Industrialise Finance's processes/ key activities (e.g. monthly financial reporting), leveraging Technology, including Finance on the Cloud
• Support HBUK colleagues to deliver on their regulatory/ statutory responsibilities

Risk Management and Controls

• Act as a primary representative to regulators on behalf of HSBC UK finance functions, holding accountability for compliance with relevant regulatory requirements.
• Implement, embed and manage appropriate risk and control frameworks
• To control and mitigate accounting risk and improve efficiency of accounting operations
• Provide leadership across risk and compliance matters, ensuring adequate management focus, "tone from the top", resource allocation and development to foster a strong risk and control culture.
• Manage business to minimise risk of financial crime and ensure adherence to HSBC's global standards

Customers and Stakeholders External Stakeholders

• Manage and foster partnerships with 3rd party vendors supporting Function services
• Manage relationships with external stakeholders (e.g. regulators, ratings agencies, industry bodies, auditors or employee unions)

Internal Stakeholders

• Collaborate with Finance colleagues to develop and implement commercial solutions that integrate global/ local business needs with the broader HSBC agenda
• Act as key representative of HSBC UK in Finance: e.g. work with Investor Relations to accurately represent business performance and strategy
• Provide leadership, support and guidance to senior business executives across HSBC UK on processes/ initiatives/ decisions requiring Function expertise

Operational effectiveness & control

• Ensures that all key financial reporting and control roles are staffed appropriately with qualified skills and competent resources with ongoing training and refresher courses as necessary to develop them.
• Execute robust and stringent reviews of current practice and procedures, identify and implement initiatives for improvement in Operational Effectiveness.
• Maintain HSBC internal control standards, implement and observe Group Compliance Policy and Global Standards and maintain awareness of operational risk

Major Challenges The Finance function at HSBC UK is poised for significant transformation over the next five years, primarily driven by technological advancements that will necessitate re tooling of skillsets, changes in job requirements, and a reduction in staff numbers. This transformation demands strong leadership to navigate effectively. Concurrently, the accounting and regulatory landscape is evolving, with the organization advancing a substantial portfolio of strategic transformation initiatives. Projects such as business divestments, mergers, acquisitions, and transformations will exert considerable pressure on teams, requiring adept management alongside business as usual activities. The CFO must ensure compliance with all regulations and provide increasingly detailed financial information for statutory and analytical purposes to meet the demands of regulators and analysts within tighter timeframes.

Moreover, there is heightened scrutiny by regulators on non financial and operational risks, necessitating a robust control environment across end to end processes. External pressures, including ongoing geopolitical risks regionally and globally, require the role holder to be acutely aware of external forces impacting the Bank and to formulate and implement strategies that mitigate risks while capitalising on opportunities.

The CFO is expected to act independently, exercising a high level of discretion and judgment in fulfilling their duties.

Knowledge and Experience / Qualifications Leadership Drives Future Focused Strategy

• Anticipates changes in the accounting, reporting and regulatory environment, both globally and locally, and leads local actions accordingly.
• Inspires and delivers high performance in respect of implementation of change, articulation of business impact and engagement of stakeholders, within a complex matrix structure. Engages with impact both internally and externally.

Inspires and Role Models

• Effective communicator of complex issues across a wide range of diverse stakeholders - across geography, discipline and the governance chain. Sets context for others and is visibly committed to continuous learning (self and others)
• Create an engaging environment by providing appropriate balance of opportunities, challenge and reward for the team

Builds Diverse Teams

• Build and lead a 'best in class' Function team within HSBC UK
• Create a high performing and diverse senior leadership team, underpinned by robust succession planning, talent management, resourcing and performance management
• Identify, transfer and foster sharing of best practices across HSBC UK
• Create an inclusive team culture where everyone is respected, active listening is encouraged and where all individuals have a voice

Executes for Results

• Operates excellent processes that deliver to high standards, on time, and adapted for change
• Respectful of governance process, and the need to evidence this
• Independent of mind, prioritises longer term sustainability and integrity

Technical Capabilities

• Understanding and experience of Financial Reporting, Accounting and Controls, Regulatory Reporting and Risk in a Financial Services Context
• Understanding and appreciation of the demands on a legal entity CFO, including business leadership through OpCo, ALCO and RMC
• Understanding and appreciation of Board level governance, in an international context. Audit and Risk Committee participation
• Track record of having applied such judgement in difficult and high pressured situations
• Critical thinking skills, and ability to distil the complex into the simple for a wide range of audiences. Credibility in communication. Curious and persistent in the search for facts
• Ability to anticipate stakeholders' agenda - whether from a Governance and Stewardship perspective, or an external reporting or regulatory view
• Experience of Financial Services products, services, structure and risks
• Extensive experience of change management, including people, systems and processes, in a Financial Control setting
• Understanding of the market participants and the changing demands of the external IR process

Functional Knowledge

• Understand role of Finance within the legal entity and global business
• Remain up to date on latest functional trends/ regulations/ changes in competitor behaviours
• Understand impact of macroeconomic trends on HSBC UK
• Identify major changes in country specific regulatory/ statutory norms and ensure these are implemented in HSBC UK . click apply for full job details