HSBC_IFRS17 Finance Manager (9m Contract - 80K approx. pm.)

Hong Kong

  • Finance SME / Finance Manager
  • Accounting knowledge
  • Level : Senior

As one of the world's largest banking and financial services organisations, HSBC has been connecting customers to opportunities since 1865. With operations in 64 countries and territories, HSBC's unparalleled international network links developed and emerging markets, and spans the world's largest and fastest-growing trade corridors. The bank serves more than 40 million customers through its commercial, retail, investment and private banking businesses, which are supported by operational and functional teams around the world.

We are seeking a high caliber IFRS17 Finance Manager for our HSBC team.

IFRS 17 is the new accounting standard for insurance contracts, which is due to be implemented on 1 January 2023. This is a significant accounting change for insurers and a joint business-risk-finance implementation programme has been established to manage the required changes across HSBC’s Insurance global operations.

The role holder will support the following two IFRS17 work packages: 1) the Visualisation, Planning and Forecasting solutions (VPF) and 2) the business finance (BF) work package relating to the external disclosure.

Key responsibilities:

This role requires IFRS17 technical accounting knowledge. Their key responsibilities are the following but not limited to:

  1. Visualisation, Planning and Forecasting solution
  • Support the IFRS17 Business Finance Lead to provide IFRS17 expertise on relevant business finance deliverables with relevant engagement with other IFRS 17 work packages and BAU stakeholders from all entities within the scope for IFRS 17 implementation to enable local implementation as expected, including:
  • Provide IFRS17 technical accounting expertise (P&L and balance sheet) to support business requirement preparation for the build of digital finance reports and Planning and Forecasting solution
  • Responsible for completing business requirements (including documenting requirements, data mapping and business controls) and workstream testing for the two MI actual dashboard and the Planning & Forecasting dashboard, as well as the financial control dashboard, and support the UAT testing
  • Provide the BAU markets with adequate dashboard training
  • Support/guide markets during Dress Rehearsal in 2022
  • Support the implementation of the Planning and forecasting (P&F) solution as per plan, including:
  • Support the IFRS17 AOP (annual operating planning) testing including any defect/gap resolution
  • Support IFRS17 AOP production and review including supporting entities with the training of the P&F tool
  • Review the IFRS17 plan and forecast results (P&L and balance sheet), reconciliation against estimates, and prepare reports senior management when required, coordinating and collaborating with the IFRS17 Actuarial teams, the local and group BAU teams
  • Support with the completion of the model risk governance process, including the P&F model documentation
  • Involve in the implementation of the BAU target operating model
  • Ad hoc support as required
  1. Business Finance

Support the IFRS17 Business Finance lead to provide IFRS17 technical accounting, reporting expertise with

  • the external disclosure communications and presentations to explain the financial performance under the new standard,
  • support the markets during “dress rehearsal” in 2022 with IFRS17 accounting and reporting guidance in preparation for the 2022 IFRS17 comparatives and the IFRS17 go live in January 2023, where appropriate.
  • Partnering with the Group Insurance Business Finance team to support the IFRS17 MI, forecast and plan production
  • Ad hoc support as required

Support the Global head of Insurance Business Performance with the IFRS17 reporting and business analysis requirements.

Skills and experience for the role:

  • Actuarial, accounting, financial control and finance discipline, and IFRS17 technical accounting knowledge are required, with at least 8 years work experience in the Life Insurance industry, preferred
  • Strong numeracy background with an ability to take on new financial/technical concepts
  • Proven ability to deliver high quality analysis and recommend solutions
  • Strong communication skills and can work collaboratively with others, including with international and virtual teams
  • Track record of proactiveness, ability to learn, manage changes and deliver results within the tight deadlines.
  • Skilled in the use of Office software, including ability to deliver impactful written reports and PowerPoint presentations, some Qliksense knowledge preferred
  • Frequent exposure to senior Finance and business stakeholders
  • Flexibility to attend meetings via audio or video in a variety of time zones, including early mornings and late evenings on occasion. This can be undertaken remotely and can be planned in advance

If you are interested in this opportunity, please click "APPLY".

HSBC is 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.

Type: Contract

Category: Accounting - No Selection Required

Reference ID: 117-070920221-RG

Date Posted: 07/09/2022