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Director Financial and Business Analysis - Regulatory Reporting
HSBC
New York, NY, United States
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Description
This position reports to the SVP, U.S. Regulatory Reporting with the responsibility for preparing and filing regulatory reports primarily to the Federal Reserve and OCC. The position also entails the resolution of all financial and product accounting issues affecting regulatory reporting as they arise to ensure correct, controlled and timely filings with appropriate documentation.
The role entails regulatory reporting for HSBC Bank (USA), N.A., HSBC North America Holdings Inc. and some of its subsidiaries. More specifically, the candidate’s primary responsibilities would be for the production of capital schedules and other reporting for various regulatory filings, including:
Call Report (FFIEC 031)
FR Y-9C
Other capital-related items
Other responsibilities will include review of completed schedules prior to submission to regulators, submission of reports to regulators, interaction with regulators and internal stakeholders, development of management reporting from regulatory software, and other tasks / projects related to regulatory reporting.
The candidate will be required to work closely with other Finance teams, including RWA Production, Capital Planning and CCAR.
Impact on the Business
• Ensure the accuracy of regulatory filings for various legal entities and filings in accordance with regulator instructions.
• Ensure effective controls and procedures are in place for regulatory filings.
• Maintain HSBC internal control standards, including timely implementation of internal audit points, as well as issues raised by external regulators.
• Continuously review and streamline processes, accelerate reporting timelines and maintain effective controls in an environment of significant focus.
• Display an ambitious change mindset and being commercial.
Customers / Stakeholders
• Respond to requests from senior management, regulators, and other business partners regarding capital-related reporting.
• Consult with management, finance, other internal departments and external resources to provide analysis, conclusions, opportunities and risks.
Leadership & Teamwork
• Become member of an effective Finance team through communication and collaboration.
• Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
• Identify risks and opportunities for area of responsibility. Make recommendations and support the implementation changes to processes.
• Foster a compliance culture and optimizing relations with regulators and internal stakeholders.
• Complete other responsibilities, as assigned.
Major Challenges
• The increasing burden of regulatory disclosure requirements and the pace of change of such requirements.
• Balancing the need for quality required by stakeholders, maintaining high control standards and ensuring that delivery is made as quickly and efficiently as possible.
Role Context
• Located in a comfortable office environment, with extended hours sometimes required to meet deadlines.
• This is a role with responsibilities for HNAH and its subsidiaries, covering legal entities within the U.S.
• Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
Qualifications
Knowledge and Experience
• Bachelor’s degree in finance, accounting, economics, mathematics, statistics, business management, related field or equivalent experience; MBA preferred.
• Five+ years proven regulatory reporting experience, or equivalent, for a major U.S. bank or U.S. branch of a foreign bank subject to risk-based capital requirements of the FRB/OCC.
• Preparation of Call and FR Y-9C reports for a large U.S. bank.
• Preparation of other aspects of regulatory reporting of a U.S. bank.
• Experience in FRB/OCC regulatory policy or interpretations is desired.
• Strong knowledge of FRB Capital Adequacy Rules and Regulations is a must Well-developed management, interpersonal, analytical, project management, presentation and verbal and written communication skills.
• Knowledge of financial analysis, modeling, systems and reporting preferred.
• Proficiency with personal computers and pertinent mainframe systems and software packages. Advanced spreadsheet and database knowledge preferred.
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