Financial Controller - Hang Seng Bank (HK)

Job description

Job description

A Career with Hang Seng Bank

Hang Seng is committed to service excellence. Our people are our most important asset and play a vital role in our efforts to continually enhance our performance for customers and provide best-in-class products and services.  We seek to attract high-calibre talent by offering a dynamic working environment, good career development opportunities and competitive compensation packages. 

Financial Controller

Insurance Business Finance Department

Hang Seng's Financial Control function works closely with the Bank's stakeholders, including business partners, shareholders, regulators and external examiners. We function as their accountants and business partners in providing comprehensive information on financial management, financial planning, financial reporting and compliance, capital planning and reporting, financial control & SOX control, tax advisory, insurance finance, and treasury and investment finance. 

Insurance Business Finance Department ("ISF") is a business finance function supporting Hang Seng insurance business, mainly life insurance business from Hang Seng Insurance Company Limited ("HSIC"). We are currently seeking a high caliber professional to join our department as Financial Controller . 

HSIC offers a wide range of life insurance products through Hang Seng banking channels and third-party brokers, including solutions to meet your protection, retirement, wealth growth and legacy planning needs. 

Role Purpose 

The Financial Controller is a critical role for ISF, responsible for the successful delivery of all aspects of financial reporting in the department. The role holder will manage:

·  All operational accounting processes for ISF covering period end close, accounting controls and balance sheet substantiation.
·  All accounting issues and judgements, implementing solutions for new products and accounting requirements.
·  Local regulatory reporting, ensuring timely and quality delivery. 
·  Group, Hang Seng and local external financial reporting, ensuring timely and quality delivery.
·  The implementation of Group and Hang Seng processes in operational accounting activities.
·  Ensuring period end close is achieved in line with required metrics of timing, quality and efficiency.
·  Managing a team of across onshore and offshore locations to support delivery.

The role holder will provide leadership across ISF to ensure all deliveries are met. The role holder will also be the key lead in the relationship with external auditors and local regulator. 

The role holder will provide support to the Head of Insurance Business Finance ("HISF") in local compliance and regulatory issues and will be able to deputise for the HISF.

Principal responsibilities

·  Appropriate accounting judgements and treatments are formed for all financial reporting matters. 
·  General ledger is closed efficiently and effectively each month to the required deadlines with all accounting issues identified and resolved with relevant business areas.
·  General ledger accounts are owned, substantiated and reconciled to required Hang Seng Financial Standards.
·  Financial Statements are reviewed to required standards and reflect the role holders understanding of the business activity.
·  There are robust processes in place to deliver local regulatory reports to the required standard, leading and coordinating business, Risk and Information Technology ("IT") to ensure delivery. 
·  Role holder will be responsible for ensuring efficient processes deployed locally and in line with Group and Hang Seng requirements.
·  Manage team development, including talent acquisition, coaching, performance management and succession planning. 

Requirements

·  Understanding and significant experience of insurance financial reporting under IFRS/HKFRS 17
·  Experience of insurance regulatory reporting under Hong Kong Risk-Based Capital ("HKRBC") requirements
·  Ability to communicate complex financial issues confidently to senior management and line management in Group, Hang Seng and HSIC
·  Recognised relevant professional accountancy or actuarial qualifications is essential
·  Understanding of the dynamics of the financial statements of an insurance company 
·  Understanding of complex accounting and actuarial issues
·  Strong awareness of Group and local regulatory environment relating to insurance
·  Knowledge of participating fund management for a life insurer and how it is linked back to financial and regulatory reporting is preferred
·  Ability to lead a team of qualified professionals, particularly in a pressurised and deadline driven environment
·  Ability to deal with analyse unstructured problems/ queries and to question and challenge existing procedures
·  Strong awareness of process, IT and data and the ability to drive efficient processes

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