Role Title: SENIOR SOX MANAGER

Business: Finance

New or Existing Role- Replacement

Grade:4

Description

• The health and safety of our employees and candidates is very important to us. Due to the current situation related to the Novel Coronavirus (COVID-19), we’re leveraging our digital capabilities to ensure we can continue to recruit top talent at HSBC. As your application progresses, you may be asked to use one of our digital tools to help you through your recruitment journey. If so, one of our Resourcing colleagues will explain how our video-interviewing technology will be used throughout the recruitment process and will be on hand to answer any questions you might have
• GCB 4 - Sarbanes Oxley (SOX) Senior Manager
• Some careers open more doors than others.
• If you’re looking to unlock new job opportunities, take a look at the possibilities right on your doorstep here at HSBC.
• 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 a Sarbanes Oxley (SOX) Senior Manager – HSBC UK Bank plc in our Financial Reporting Risk function.
• The role holder must have an in depth understanding of the financial environment and internal/external factors, e.g., Non-Financial Risks and Controls, Legal, Compliance, Information Security and Internal and External Audit requirements. Additionally, they must understand the impact of technology on the ability to enable automation and proactive controls within finance.
• The nature of the role requires strong working relationships with senior executives in Finance, Internal and External Audit, Lines of Businesses, Risk, Digital Business Services, Company Secretary and other Global Functions across the Group. It will also involve significant interaction with external auditors.

Role Purpose

• Sarbanes Oxley (SOX) Senior Manager oversees matters related to Financial Reporting and across the entity, ensuring that the entity’s activities are run in a well-controlled environment, compliant with HSBC policies and business strategy, as well as applicable regulatory requirements.
• The role holder is also responsible for the group-wide implementation and oversight of the processes that support the annual assessment of the internal control over financial reporting (ICOFR), and recommends a conclusion on the annual assessment to the entity Chief Financial Officer. The role holder is responsible to ensure the adequacy of the Sarbanes Oxley (SOx) framework, applicable to Financial Reporting Risk management under the Non-Financial Risks and Controls framework, and for the alignment between the two frameworks. He/she owns the SOx and the Risk and Control Management sections of the Finance policies.
• The role holder will support the Head of HBUK Financial Reporting Risk who represents Finance in the Non-Financial Risk Board and partners closely with Risk to drive effective implementation and ownership of end to end process controls. He / She will be required to support the Head of HBUK Financial Reporting Risk who provides insights on the control environment, including entity level controls, SOx process and IT controls, and the evolution of SOx enhancement initiatives to the Global Head of Financial Reporting Risk Oversight).
• The role holder is responsible for managing the relationship on the subject matter with senior internal and external key stakeholders (including global functions and businesses, Internal and External Audit and regulators), and is a trusted advisor to the Finance ExCo
• Principal Responsibilities

Key activities and decision making areas

• Impact on the Business
• Maintain entity’s risk exposure within risk appetite by delivering a structured programme for the management of all Financial reporting risks with appropriate controls
• Ensure that HSBC UK Bank plc. continues to maintain regulatory compliance with Sarbanes Oxley Act.
• Lead the identification, assessment and remediation of key global thematic control issues
• Lead control improvement initiatives ensuring practical and workable solutions and best practices are suitably shared
• Maintain SOx and Finance Risk and Control Management procedures in line with current regulations and internal related frameworks
• Perform SOX risk assessment for the entity in accordance with Finance FIM requirements and as per Group instructions
• Maintaining regular communication and engage with Global Businesses and Global functions to identify any potential issue that could lead to a SOX deficiency.
• Perform deficiency evaluation, review and challenge. Ensure all deficiencies are recorded in HELIOS on a timely basis.
• Coordinate Internal Control Certificate sign off from business or function heads to support the entity CEO and CFO’s certification.
• Working closely with the Assurance team to complete annual walkthrough process reviews and testing of SOX in scope processes, to assess the design and operating effectiveness of SOX controls.
• Prepare insightful management information reports on internal control matters to support SOX governance meetings and entity Audit Committee meetings.
• Supporting delivery of Group project activity to improve the control environment.
• Typical Targets and Measures

Customers / Stakeholders

• Regular engagement and targeted consultation with key stakeholders, internal and external to Finance
• Ensure suitable materials are produced and conveyed allowing ‘control’ best practice to be established and implemented
• Execute RCA testing programme and coordinate regional execution
• Coordination and implementation of initiatives that result in the sharing of risk mitigation best practices
• Be a trusted advisor to Finance ExCo on issues related to risk management and control

Leadership & Teamwork

• Lead and develop an effective Financial Reporting Risk second line of defence function in Finance through communication, performance management, development plans and reward/recognition practices
• Ensure full engagement with the entity Finance and Group SOX team, enabling a disciplined control environment while acting as an advisor and partner to the entity and Finance function
• Talent management, leadership development and succession planning
• Cultivate an environment that supports diversity and inclusion

Operational Effectiveness & Control

• Continually reassess the risks associated with the role and inherent risks 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
• Inform the entity CFO and CEO on the entity’s risk assessment and control environment
• Support regulatory and compliance oversight programme within the Finance function

Major Challenges

• Working with numerous Finance and non-Finance stakeholders, ensuring effective communication at all levels and managing competing priorities. Internal stakeholders are up to and including Board level.
• Ability to understand, consider and articulate key control points, their design and operational effectiveness, and their impact upon financial statements (across various technical areas), operational blueprints and resources.
• Identifying suitable solutions after considering procedural, risk, resource, strategic and cost implications.
• Create a real sense of teamwork and collaboration with the Global Finance CCO team.
• Maintain knowledge of the financial environment and internal/external changes and trends that impact the control environment.
• Create optimal working relationship with Finance ExCo and Risk and ensure that the Control framework and Non-Financial Risks and Controls framework are relevant and aligned per Global Risk Functional Instruction Manual (FIM).
• Drive end-to-end process understanding and drive appropriate ownership of controls between first line and second line of defence.
• Proactive involvement in the Cloud implementation for Finance and leveraging technology to enable control automation and improve effectiveness.