Role Title: Life Fund Accountant
New or Existing Role? New
· To assist the Life Fund Accounting Team ensuring that all accounting data required by Life Company clients is provided within agreed service levels and to a high standard of accuracy. The data provided is essential to clients with regard to the completion of statutory accounts and regulatory returns.
Impact on Business
· The role holder will ensure the HSBC values are present in everything we do, both individually and as an Organisation. This will be achieved by consistently displaying the behaviours of:
o Dependable and do the right thing
o Open to different ideas and cultures
o Connected to customers, communities, regulators and each other.
· Ensure that all client reports are delivered on time and to the standards set out in the Service Level Agreements and Key Performance Indicators. This will include General Ledger, Valuation and Supplementary reporting as well as Solvency II and Annuity Cash Flow reporting.
· Assist in the oversight of an efficient monthly control process, focused on ensuring that all data is captured, checked and where appropriate fully reconciled to the investment accounting system. This process should be supported by checklists and sign-offs and fully detailed in operational procedure.
· Assist in ensuring an efficient governance model is in operation overseeing the monthly controls process within our GSC's. Agree monthly internal KPI measures and ensure a smooth governance relationship with our offshore centres. Visits to the offshore sites in India and Sri Lanka are a requirement.
· Maintain an excellent and open relationship with key client contacts as well as other internal and external stakeholders. Act as a point of contact responding to enquiries in a swift and accurate manner as well as meeting to discuss changes to reporting requirements. Attendance at client meetings at various sites across the UK is a requirement of the role.
· Maintain accurate and up to date procedure notes. Ensure that controls and procedures are in line with FIM regulations and that all key controls are accurately captured, monitored and reported.
· Ensure any changes or enhancements to the systems in use within the team are implemented in line with company change management procedures. Ensure that client requirements are fully understood, built in line with those requirements and fully tested prior to live delivery. Attend Change project meetings and workshops as and when required to facilitate a smooth transition from each element of the project into live delivery.
Management of Risk
· Responsible for the continual assessment of 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 restructuring and the impact of new technology.
· Demonstrates compliance with HSBC Bank plc Group standards, manuals and policies and adheres to the defined work practices, internal controls and risk management standards associated with the role.
Observation of Internal Controls
· Maintains HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
· Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business activities associated with the role, specifically HSBC Bank plc internal controls and compliance policies and manuals.