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Global Finance is integral to HSBC’s purpose and strategy, playing a valued role in managing costs and deploying capital in the most effective way.
Our global team of finance professionals partner with the business to provide trusted insights and forward looking analysis;
accuracy; efficiency and control to frame and influence business decisions.
We are currently seeking a high calibre professional to join our team as an Operational Cost Manager, Global Insurance.
Reporting to the Head of Reporting, Global Insurance, this role is a pivotal contributor to Global Insurance Cost Management
The role sites within Global Insurance Business Performance, as part of Global Insurance Finance. The team is located across Hong Kong, United Kingdom, and the Global Finance Operations Centre in Delhi;
this role sits in Hong Kong
The role holder will be responsible for tracking & managing the Global Insurance cost position, the delivery of related Management Information data and management of the associated processes
In turn the role holder will be responsible for supporting the Head of Reporting and the Head of Business Performance in managing cost expenditure within budget whist helping the Insurance business optimise the utilisation of that budget
Whilst this role sits within Finance, it will be highly collaborative across the business, working closely with the Global Insurance COO team (who have overall responsibility for managing costs within the business).
As such close working relationships accuracy and agility to support COO will be key attributes for the role holder
The role will also be responsible for overseeing cost management for the Insurance Head Office business unit - a critical component of the global Insurance cost base supported by the Insurance Finance GFOC team based in Delhi
Other responsibilities include monitoring and enhancing insights into the Insurance indirect and intercompany cost bases, and collaborating with the Insurance GFOC team in managing the internal Insurance recharging model pivotal activities in ensuring the Insurance business is accurately and appropriately managing allocation of costs around its business
As Global Insurance transitions to reporting on an IFRS 17 basis from January 2023, the role holder will help drive understanding of the drivers of cost performance on an IFRS 17 basis internally within Insurance and with internal stakeholders such as WPB and Group Finance
Building and maintain strong relationships will be essential : this includes with local market teams, senior stakeholders in Head Office, regional finance teams, Global WPB finance and colleagues in Global and local COO teams
The role holder will be proactive, disciplined and focused on the most critical activities to stay ahead of a quickly moving picture as decisions on deployment of budget evolve through the year, taking into account changing external and internal circumstances
The role holder will be expected to take the lead on development initiatives and work closely with the Head of Reporting (based in Hong Kong) to drive high quality output
Overall, successful execution of the role will result in a key support to the Global Insurance management team deploying its resources in the most effective manner in support of our customers, shareholders and other stakeholders
Prepare consolidated Costs MI for Insurance to deliver insightful analysis to the business, ensuring proper controls on data and value added commentary to support business decisions
Lead the enhancement of Costs MI reporting, particularly insights and understanding of different options to support management decision making and optimisation
Drive business planning activities for Global Insurance and within this Head Office, and assess and challenge business plan and provide advice and guidance, as needed
Interpret and support stakeholders on the impact upon the Global Insurance cost base of transition to IFRS 17 reporting
Drive partnering with the Global Insurance COO and their team, together with the Head of Reporting and the Head of Business Performance, plus partnering with regional and global WPB Finance cost teams
Key point of contact for the Global WPB and CMB Business Performance functions
Liaison with individual markets to ensure those markets have everything they need to support the Global Insurance cost reporting processes, including the related insights
Transformation and business developments
Provide advice on the control environment of performance measurement and reporting
Provide recommendations for methods of improving financial processes related to costs, delivering efficiency enhancements and cost savings
Support on projects and ad-hoc requirements, as needed
Chartered Accountant or similar professional qualification preferred
Experience of managing a large cost base with multiple stakeholders preferred
Demonstrable track record of adopting a proactive approach to cost management, intercepting issues before they emerge and identifying opportunities to optimise cost deployment
Strong verbal and written communication skills, including experience of preparation of reports, analysis and commentary suitable for presentation to senior management
Appetite to learn, investigate and challenge particularly through transition into IFRS 17 reporting, but also on an ongoing basis
Ability to take the initiative and undertake and drive tasks forward with minimum supervision, whilst also delivering a collaborative approach to working within and across adjacent teams based across multiple locations
A strong team work ethic is important; ability to build peer and stakeholder relationships is key
Commercial awareness and interest in connecting business fundamentals to financial performance
Disciplined approach to process and controls
You’ll achieve more when you join HSBC.
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Issued by The Hongkong and Shanghai Banking Corporation Limited.