Regulatory Controller

Job description

Role Title: Regulatory Controller

Business: Finance

New or Existing Role? Existing

Grade: GCB4

Role Purpose

· The role fulfils a key coordination, review and challenge function within the PRA & UK Regulatory Reporting team, focusing on the production of CCR RWA for the London legal entity. The main responsibilities surround the coordination and management of the data input, adjustment and analytical review process of CCR RWA and capital reporting, including the preparation of inputs to global and regional COREP and Pillar 3 reports, liaising with Traded Risk and Front Office representatives to understand model changes and business drivers underlying internal models and assisting and monitoring, reviewing and advising GFC on the calculation. The role will also work closely with Risk to provide ad-hoc analysis and guidance, including but not limited to Stress Testing, QIS submissions and RRP returns.
· The role requires a high degree of interaction with the GFC team in Hyderabad, including review and challenge of outputs and the implementation of efficiency and control improvements as required by BCBS 239. Maintenance of the site level RCA and the design and implementation of the control framework surrounding the London CCR RWA process. Critical to the role's success will be the interaction with Traded Risk, Business Finance and Front Office representatives; the holder will need to challenge the outputs of the IMM model appropriately, identify and resolve issues in the data feed from Primary Trading Systems and ensure an effective control environment whilst building a strong relationship between Risk and Finance. Part of this will be participation in NPDD reviews to ensure new trading activity is correctly captured in Regulatory Reporting.

Key Accountabilities

Impact on Business

· Production of CCR RWA and leverage ratio inputs within CorB3 and downstream systems
· Preparation of management review packs for monthly RWA
· Design, implementation and monitoring of an effective control environment around the CCR calculation

Customers / Stakeholders

· Finance management
· Capital Management / Business Managers
· Product Control and Traded Risk Control
· Internal audit

Key challenges:

· Managing expectation of management & stakeholders and be able to produce accurate & timely reports – both external & internal
· Following up to resolve issues in source systems and reducing operational risk
· Ensuring effective controls whilst building a strong relationship within Finance and Risk based on mutual trust and respect.
· Being able to explain movements and calculations with reference to regulatory rules and investment banking products

Leadership & Teamwork

· Liaise with IT and document processes for colleagues in Hyderabad
· Engage with stakeholders and deliver key reports under a time-pressured environment
· Identify opportunities and put into practise improved control and analytical review

Operational Effectiveness & Control

· Maintenance of end user controls and business maintained tables
· Create packs for management review & sign-off
· Appropriate audit trails and documentation maintained for all controls
· Monitor through management review and challenge

Major Challenges

· Coordination of a detailed and complex reporting process, ensuring all pertinent issues and movements are raised to management within the context of business partnership.
· Maintenance of a network of site contacts.
· Resolution of issues within a complex and challenging control and system environment, reducing the need for off-system and high-operational risk adjustments.

Role Context

· HSBC is a large and complex organisation, with numerous system flows. The Counterparty Credit Risk of the trading book is currently calculated based on both internal models and standard rules across a number of sites. Internal Model Method CCR capital requirements is calculated by Traded Risk and Mark-to-Market method CCR RWA is calculated by Regulatory Reporting in Finance. Due to the increasing requirements for granular data within regulatory reporting and processes such as stress testing, analytical review and issue resolution is becoming increasingly important.

Management of Risk

· Be aware of the Operational Risk context associated with the role and act in a manner that takes account of operational risk considerations.

Observation of Internal Controls

· Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which one is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.
· Maintain HSBC Internal Control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators

Role Dimension

· Global Counterparty and Market Risk RWA of ~ 110 billion USD

Desired profile

Knowledge & Experience / Qualifications

KNOWLEDGE

·  A good understanding of the application of the CCR capital computation under Basel 3 and how these are reported in COREP
·  Good knowledge and understanding of the structure of derivative products and the measurement of counterparty credit risk; the ability to put this into practise through queries and challenge of subject matter experts
·  Business of the Group and its strategic drivers
·  Of the banking industry and environment including recent history of regulatory reporting developments, including the Basel 3 developments
·  Detailed knowledge and understanding of GRCA and how it relates to the Trading book

EXPERIENCE

·  Preferably a qualified Chartered Accountant (or other relevant professional qualification) with substantial post-qualification experience in the trading book and market risk of financial investments.
·  Experience of investment banking system flows and models
·  Detailed understanding of the UK & EU prudential regulatory framework

SKILLS

·  Excellent interpersonal, persuasive and communication skills, both written and verbal, with staff at all levels in global regions and across functions
·  Self-motivated and capable of achieving results with a team
·  Good IT awareness and ability to communicate readily on IT issues in a systems oriented environment
·  Ability to work under pressure, report to tight deadlines, and deal effectively with issues as they arise
·  Strong analytical skills
·  Fast learner capable of adapting readily to a fast changing environment
·  Strong excel skills to assist in developing new templates for ad hoc reporting
·  An attention to detail within the context of overall materiality

We are an equal opportunity employer and are committed to creating a diverse environment.