Assistant Vice President Finance Chief Control Officer

Job description

HSBC is Canada's leading international bank – there is no one like us in this market.

Our ability to bring our global experience and perspective to evolving trends and issues in Canada has been a tremendous benefit to our clients. With our offer of unique banking solutions, as well as an extensive global network, no one is better placed to support internationally minded individuals and businesses.

HSBC helps companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking.

It's through this global connectivity that you will find yourself inspired, collaborating with colleagues not just locally but also across continents and cultures.

About Global Functions


HSBC's Global Functions play a vital role in supporting the bank's Global Businesses and offer a broad range of career opportunities in areas from Legal, Risk and Finance to Human Resources, Sustainability, Marketing and Communications. Our operational and functional teams around the world help HSBC's Global Businesses to operate efficiently and effectively on a day-to-day basis. They also focus on controls and governance to reduce risk and protect the Group's reputations.

Global Finance plays a vital role in ensuring that HSBC manages costs and deploys capital in the most effective way. The team provides financial insight, accuracy and control, using analytical skills to support our Global Businesses and influence and challenge business decisions.

Key Objectives for Assistant Vice President Finance Chief Control Officer:

The HSBC Canada Finance Chief Control Officer is responsible for the evolution, implementation and on-going maintenance of the first line of defence (1LOD) activities as delegated by the HSBC Canada Chief Finance Officer. This includes the implementation and maintenance of the control framework that supports the management of Non-Financial Risks (NFR) incurred by Finance, and supports the Finance function in complying with its first line of defence responsibilities, as well as understanding the implication on financial risk types such as Capital and Liquidity risks.

The role holder is also responsible for the implementation of the Non-Financial Risks framework and processes that support the assessment of the effectiveness of the entities internal controls over all relevant Non-Financial Risks types which include; Financial Reporting & Tax, Resilience, Financial Crime & Fraud, People, Regulatory Compliance, Legal and Model Risk. As the NFR Framework is further implemented in the entity, the role holder will be responsible for ensuring that risk and control assessments for all Non-Financial Risks types are appropriately implemented.

The HSBC Canada Finance Chief Control Officer is responsible for the adequacy of compliance with NI52-109 (CANSOX) on behalf of the Chief Executive Officer and Chief Finance Officer, across the entire HSBC Canada entity, which is done in conjunction with complying with the Sarbanes Oxley (SOX) framework for HSBC Group reporting.

The Chief Finance Control Officer is the liaison between the Global Finance Control organisation, the local Finance teams and key entity stakeholders, in matters of operational risk management and control. In that capacity, the role holder is responsible for: ensuring full alignment with the Global Finance Control organisation; managing the relationship on the subject with internal and external key stakeholders, including Internal and External Audit and regulators; and being a trusted advisor to the Chief Finance Officer and their management team.

The Finance Assurance team currently reports to the Finance Chief Control Officer at an entity level, the role holder is responsible for delivery of the Assurance testing plan and supporting the second line of defence (2LOD) risk steward for Financial Reporting and Tax.

Principle Accountabilities:
· Maintain a sound approach for the maintenance of a Sarbanes Oxley Section 404 and NI52-109 (CANSOX) (or equivalent) compliant internal control environment. Establish, plan and implement a timeline to ensure that a full assessment of the system of internal controls surrounding financial reporting is performed, and that all required documentation and testing is completed on a timely basis.
· Develop a full plan to ensure compliance with Sarbanes Oxley Section 404 requires to support the Chief Finance Officer and Chief Executive Officer attestation. This will include Scoping, Sarbanes Oxley testing, Entity Level Control Testing, assessment of Outsourced Service Providers, oversight of Sarbanes Oxley-relevant issues and internal events, reporting, Fraud Risk Assessments, as well as other projects such as to oversee remediation and/or management of significant deficiencies.
· Be a trusted advisor to the Finance team on issues related to operational risk management and control including the impact on Finance of controls maintained and operated outside of Finance i.e. data accuracy & third party.
· Create optimal working relationship with the Finance Management team, and ensure that the Control framework and Operational Risk management are relevant to and within the overall Finance agenda.
· Support the remediation of key thematic control issues in the entity
· Lead control improvement initiatives ensuring practical and workable solutions and best practices are suitably shared
· Be responsible for delivery of the Assurance testing plan and thematic reviews as mandated by the Risk Steward (Financial Reporting & Tax), Global Head of Assurance Finance, Chief Finance Officer.
· Manage a team through change, demonstrating the ability to continually adapt and enhance its capabilities.
· Work with numerous Finance and non-Finance stakeholders, ensuring effective communication at all levels and managing competing priorities.
· Identify suitable solutions after considering procedural, risk, resource, strategic and cost implications.
· Support the Finance department with transformation, ensuring that business as usual activities are delivered with quality and timeliness during the transition period, and the control environment is maintained.
· Create a real sense of teamwork and collaboration with the global Finance Chief Control Office team.
· Maintain knowledge of the financial environment and internal/external changes that impact the programme.
· Create optimal working relationship with the Finance Management team, and ensure that the Control framework and Operational Risk management are relevant to and within the overall Finance agenda.
· Work directly with the Bank's external auditor to ensure that work performed meets standards, expectations and requirements of senior management, and communicate findings the Audit Committee and Senior Finance Management in HSBC Bank Canada.
· Provide management information to business/function management and risk committees, including material non-financial risks, internal control monitoring results, significant internal control issues.
· Develop and execute a plan to achieve the non-financial risk management goals of the Global Finance Chief Control Officer and Chief Finance Officer, including a resource plan with appropriate level and experience of Control Office team members
· Lead business/function management in establishment of 'end to end' ownership of non-financial risks, controls, and processes
· Promote non-financial risk awareness, including training for business/function personnel
· Non-Financial Risk Management Framework Responsibilities (Lead coordination on behalf of business/function management)
· Coordinate Risk and Control Assessment (“RCA”) including set scope, identify material risks, assign risk prioritization, identify and assess the design and operating effectiveness of key controls to mitigate operational risk
· Undertake assurance for all controls within scope including develop monitoring plan, monitor progress against plan, execute control monitoring, report results, develop action plans and oversee remediation for all controls assessed as “ineffective” or “needs improvement", and challenge procedures covering areas under review
· Ensure all internal events (incidents) are reported in complete, accurate and timely manner including recording and conducting quality assurance, escalating incidents, appointing incident owner to analyze root cause and manage actions.
· Provide control Subject Matter Expert support to coordinate assessment of non-financial risk in material projects and initiatives; assure adequate mitigation
· Facilitate timely identification and escalation of Management Self- Identified Issues; document and monitor progress of remedial actions.
· Maintain knowledge of the financial environment and internal/external changes that impact the programme.
· Create optimal working relationship with the Finance Management team, and ensure that the Control framework and Operational Risk management are relevant to and within the overall Finance agenda
· Assess adequacy of remediation of issues, including audit findings, internal control issues, and regulatory observations
· Escalate significant, current and emerging non-financial risks and internal control issues as appropriate
· Maintain appropriate resources to ensure deliverables are met, escalating as appropriate.
· Strong leadership and people management, to engage the team to optimum productivity.
· Provide training as needed.
· Manage a team through change and demonstrating the ability to continually adapt and enhance its capabilities.
· Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
· Promote an environment that supports diversity and reflects the HSBC brand.

Desired profile

Qualifications :

Knowledge & Experience / Qualifications:
·  Professional accounting designation - CPA will be highly regarded.
·  Minimum of 10+ years working experience in increasingly complex and senior functions within financial services industry, or equivalent experience working on substantial audits with a big CA Firm including audits of financial institutions.
·  Exceptional drive, commitment and focus in operational excellence, innovation and agility.
·  Extensive experience in, and thorough understanding of, managing, overseeing and applying controls across a Finance function, including those underpinning SOX and Operational Risk frameworks
·  Experience of effectively working with external auditors
·  Understanding of the Finance operating model at Group, Business and Country levels
·  A good understanding of Retail and Commercial products, and the associated risks and controls
·  Thorough understanding of areas within Finance as well as other areas of risk e.g. risk, legal, compliance
·  Thorough understanding of HSBC's activities, products, processes and systems
·  Excellent interpersonal skills, strong stakeholder management and business writing skills
·  Able to cope with pressure, deadlines and multiple deliverables
·  Demonstrated ability to find workable solutions to problems
·  Knowledge of project management
·  Effective team and matrix management skills in a multi-cultural environment
·  Committed to continuous improvement, self-motivated, confident, creative and capable of working effectively autonomously as well as part of a team
·  Ability to work in fast-paced environment with proven ability to handle multiple outputs at one time
·  Excellent communication skills. Strong inter-personal skills, negotiating skills, analytical ability and judgment.
HSBC Proud


As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC Canada is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.