Global Banking & Markets UK SOX Co-ordinator

Job description

Role Title: Global Banking & Markets UK SOX Co-ordinator

Business: Finance

New or Existing Role? Existing

Grade: GCB5

Role Purpose

· To ensure Global Banking & Markets (GB&M) in the UK meets the requirements of the Sarbanes Oxley Act (SOX) and performs an accurate assessment of accounting risk.

· This role provides an excellent opportunity to gain a good understanding of the Global Banking & Markets business in the UK, and its accounting risk and controls. This could lead to future roles within Finance or within other functions controlling GB&M businesses.

· The role holder will:

o report on the overall accounting risk & SOX compliance within GB&M UK

o ensure that testing and control monitoring performed by the UK BRCM teams within Global Markets, Global Markets Operations and Product Control meets the SOX requirements for both GB&M globally and the UK bank.

o assist the Global Co-ordinator for GB&M SOX

Key Accountabilities

Impact on Business

· Provide assurance to the European Head of Global Banking & Markets and the CFO for Global Banking & Markets Europe that SOX requirements are met
· Provide information and guidance to the UK GB&M Business Risk & Control Management (BRCM) teams, particularly in Global Markets, Global Markets Operations and Product Control, to ensure that their control and monitoring work and on SOX processes meets the Group's SOX requirements.
· Document the UK GB&M SOX processes, risk assessment and control effectiveness such that this is accepted by internal and external audit
· Document the assessment of accounting risk for UK GB&M accounting risk for Operational Risk, Europe GB&M Risk Management Committee, and to Finance management.

Customers / Stakeholders

· HBEU SOX Co-ordinator
· Global GB&M SOX Manager
· Europe Markets BRCM team
· Europe Global Markets Operations BRCM team
· UK Product Control BRCM team
· European Operational Risk team for Markets
· Internal audit
· External audit

Leadership & Teamwork

· Able to influence BRCM teams covering Global Banking & Markets and their support functions
· Work collaboratively with the HBEU Finance Control Office
· Work with GB&M SOX co-ordinators in other locations to ensure consistency and best practices are shared.
· Collaborate with the GB&M Finance COO team

Operational Effectiveness & Control

· Adherence to all FIMs and guidance
· Ensure the SOX annual timetable for BAU work is followed
· Set and adhere to appropriate timetables set for project and improvement work
· Understanding and applying SOX legislation and all related guidance

Major Challenges

· To manage stakeholders and ensure buy-in for any proposed changes and to ensure the SOX timetable is met
· To communicate technical SOX requirements effectively to a wide non-specialist audience
· To understand, document and explain the SOX processes within Global Banking & Markets
· To satisfy external auditors that a SOX control framework is in place

Role Context

· The jobholder will work with limited supervision.
· The jobholder will support the SOX programme for GB&M in the UK ensure that Management meets the requirements in line with the HSBC approach and to the satisfaction of the external auditors, while maintaining effectiveness and efficiency.
· The Sarbanes-Oxley Act requires all companies listed in the US to tighten their controls over financial reporting. Compliance with SOX requires documentation of all relevant controls and the ability of ‘Management' to articulate how this control framework ensures the accuracy of the Bank's financial statements. The external auditors provide an assessment over the control framework in the financial accounts.
· The operational risk framework is changing, with the treatment of accounting risk expected to more closely align with SOX requirements

Role Dimensions

· The role covers the SOX relevant controls for Global Banking & Markets in the UK

Management of Risk

· The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.

· In the event of an ineffective internal control framework, a material misstatement may be required to be reported externally or the external auditors may fail to conclude HSBC's internal control framework is effective. These events would have a serious impact on the group's reputation.

Observation of Internal Controls

· The jobholder will adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.

· This will be achieved by adhering to all relevant processes/procedures by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with external auditors.

Desired profile

Qualifications :

Knowledge & Experience / Qualifications

·  Qualifications
·  A professional qualification such as ACA/ACMA/ACCA/MBA is preferred.

· Experience

o Strong Finance background, with either experience of audit and Sarbanes Oxley legislation or experience of Global Markets

o Excellent written skills; experience of producing process flow documentation and risk and control assessment type documents.

o Experience of performing and documenting process walkthroughs.

o Proven ability to work independently.

· Skills

·  Ability to deliver to tight deadlines

o Proven ability to influence at all levels across business lines and functions

o Well-developed interpersonal, organizational, analytical, problem solving, presentation and communication skills required.

o Driven and motivated self-starter.

o Ability to communicate at all levels in a constructive, non-adversarial manner

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 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.

We want everyone to be able to fulfil their potential which is why we provide a range of flexible working arrangements and family friendly policies.

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