Description
IFRS9 Credit Impairment Analyst - HSBC
Initial 6 month role based in Birmingham
Credit Impairment Analytics, which will play a critical role in the implementation and on-going delivery of IFRS 9.
Key objectives will include:
- Assist in establishing the team's role within the IFRS 9 governance process and operating model, working closely with Credit Risk and global finance teams. The team aims to become a centre of excellence for credit knowledge within the HSBC Finance community.
- Production of analytics which support the review of IFRS 9 impairment results for the Ring Fence Bank (RFB) and the RFB impairment committees. Additionally, these analytics will support external reporting disclosures.
- Assist in the preparation of papers that document and challenge of the expected credit losses calculated by the RFB entity and global businesses where required,
- Assist in the preparation of papers for Group Audit committee quarterly that document the expected credit loss impacts for the RFB entity
- Prepare any required reconciliations between the impairment engine, formally signed off expected credit loss figures and any published numbers where differences occur for valid reasons.
- Review the RFB's credit disclosures to ensure best practice and compliance with regulatory standards (eg IFRS).
- Monitor the external environment to identify reasons to adjust the RFB's expected credit loss calculations and assess the external markets expectation of the RFB's ECL.
- Prepare an expectation of reporting period expected credit losses to support group management and investor relations quarterly alongside Global business splits monthly.
- Maintain a robust and compliant control environment.
Typical KPIs and Targets
Impact on the Business
- Support the establishment of the team within the IFRS 9 governance and operating model, with a clear understanding amongst other Finance/Risk teams as to the team's role and key interactions.
- Participate in the identification and agreement of the team's customers within the process. Assist with the production and agreement all necessary operating procedures and Service Level Agreements with customers and implement an appropriate control environment.
- Support RFB and global business level impairment committees to enable them to discharge their responsibilities around sign off of expected credit loss calculations and IFRS 9 provision levels.
- Produce insightful and intelligent management information to meet the various stakeholder's needs.
- Assist with any impairment related RFBlevel interactions with Investor Relations, Strategy, senior Risk committees, Group External Reporting, Stress Testing and other teams as required.
- Participate in external reporting relating to expected credit losses and the related disclosures.
- Ability of the team to meet objectives and support the impairment committees.
- Effectiveness of committee sign off process within timelines of operating model.
- Required analysis is produced to required deadlines and number of requests for further analysis are minimised.
- Feedback from finance and risk teams across the IFRS 9 process indicates good service from the team.
- External reporting deadlines met in a sustainable way with few issues identified from senior management review.
- External disclosures are fully compliant with relevant standards (eg IFRS) and meaningful to the readers of the financial statements.
Knowledge & Experience/Qualifications
- Recognised professional accountancy qualification is essential. (ACCA)
- Fundamental understanding of the financial reporting and external disclosure requirements for a large financial institutions and some experience of preparing or auditing published financial statements.
- Awareness of IFRS 9 and other relevant regulatory and best practice reporting issues.
- Ability to design, document and communicate analytical procedures to provide assurance over external financial statements.
- Some experience of preparing technical/formal papers which are delivered to a senior management level.
- Knowledge of risk modelling concepts would be an advantage.
- Be a self-starter/motivated - ability to work with minimum supervision with attention to detail. Ability to manage stakeholder expectations.
- Ability to field, analyse and solve unstructured problems/queries and to challenge existing procedures.
- Ability to communicate complex financial issues confidently to line management.
- Be able to work to strict deadlines, under pressure and be a team player.
- Keen to learn/ask questions/progress.
- Hyperion experience would be an advantage but not essential.
Please Submit your CV in the first instance