Business Finance Manager - HSBCJP00049101

Job Title: Business Finance Manager

Location: London / 1 – 2 days onsite  

Duration: 6 Months

Pay Rate: £450 Per Day PAYE / Inside IR35 / Umbrella option is available

Role Purpose and Impact on Business:

·      Reporting to the Global Head of Business Performance, this role is a key contributor to the delivery of Management Information data and processes across HSBC’s Insurance Manufacturing and Partnerships Distribution activity, including monthly performance reporting, forecasting and annual planning, with accurate and timely delivery to support key business decision-making forums including the Global Insurance Operating & Executive Committees.

·      As well as playing a key role in the Manufacturing reporting processes and related analysis, this role will specifically own Partnerships distribution reporting activity, leading engagement with the Global Head of Insurance Partnerships and their team, and acting as key point of contact for the Global WPB and CMB Business Performance functions on and distribution partnerships, working closely with the Head of Insight, Analysis and Strategic Planning.

·      Further the role holder will liaise with CMB on all aspects of Manufacturing reporting relating to the CMB global 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 IFRS 17 performance internally within Insurance and with internal stakeholders such as WPB and Group Finance. It is important that the role holder engages with and understands the fundamentals of IFRS 17 accounting, and applies these in practice.

·      Further, as Global Insurance pivots towards a visualisation and cloud-driven process for performance analysis including forecasting, the role will be suited to an individual curious to learn and lead on usage of Google Cloud, Python and other tools designed to support Global Insurance Finance in its ambition to operate market leading business analytics, planning and forecasting functionality in support of the Global Insurance business.

·      As a senior role within the Global Business Performance team, 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

Primary responsibilities:

Management reporting

·      Prepare consolidated 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 business metrics for Partnership, working closely with business to understand critical commercial drivers, setting up the processes and controls around reporting and deliver reporting with useful commercial insights.

·      Support the creation and production of ESG reporting framework for Insurance business.

·      Drive business planning activities for international markets, assess and challenge business plan and provide advice and guidance, as needed.

Transformation and business developments

·      Provide advice on the control environment of performance measurement and reporting.

·      Provide recommendations for methods of improving financial processes, delivering efficiency enhancements and cost savings.

·      Support on projects and ad-hoc requirements, as needed.

·      Support on the transition of the IFRS 17 “Visualisation, Planning and Forecasting” tools into business as usual management information, and drive the developments to management information to provide a clear view of results and result drivers through FY22 (parallel run/dress rehearsals, and actuals reporting on FY22 comparatives which will accompany our IFRS 17 disclosures in FY23).

Business partnering

·      Lead partnering with the Head of Insurance Distribution Partnerships (c. $0.5bn annual revenue derived by HSBC Group from the distribution of insurance products in the markets and product lines where we do not manufacture)

·      Key point of contact for the Global WPB and CMB Business Performance functions on and distribution partnerships, working closely with the Head of Insight, Analysis and Strategic Planning.

·      Liaison with International markets to ensure those markets have everything they need to support Global Insurance reporting processes

Customers / Stakeholders

·      The role requires strong business partnering skills, in order to be able to drive decisions in governance forums and leverage the wide range of expertise available in the Group

Leadership & Teamwork

·      A member of the Global Insurance Business Performance team.

·      Working in a collaborative way across geographies, ensuring effective team communication and delivery through remote working collaboration, including working with Head of Analysis, Insight and Strategic Planning and their team to ensure core processes and execution operate in tandem with production of relevant insight for the Insurance business and its leadership team

·      A support team of colleagues are located in Hong Kong, United Kingdom, and the Global Finance Operations Centre in Delhi to support analysis and production of deliverables.

Knowledge & experience / Qualification

·    Chartered Accountant or similar professional qualification preferred

·    Appetite to learn, investigate and challenge particularly through transition into IFRS 17 reporting, but also on an ongoing basis

·    A collaborative approach to working within and across adjacent teams based across multiple locations

·    Drive to demonstrate leadership and accountability and support standard-setting within the team

·    Interest in developing peers and sharing through collaborative learning and challenge

·    Understanding of the life insurance industry is preferable, including a working knowledge of the fundamentals of IFRS 17, embedded value reporting and capital frameworks.

·    Strong financial background – including understanding of financial markets (theory & instruments)

·    A strong team work ethic is important; there is a large element of ad hoc requirements within this role which will need to be supported by ability to build peer and stakeholder relationships and self-drive commercial and financial solutions

·    Strong verbal and written communication skills, including experience of preparation of reports, analysis, commentary and technical accounting opinions on financial reporting matters suitable for presentation to senior management

·    Ability to take the initiative and undertake and drive tasks forward with minimum supervision

·    Commercial awareness and interest in connecting business fundamentals to financial performance

·    Disciplined approach to process and controls.

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