Head of Insurance Business Finance & Capital Management - Global Finance
February 23, 2021
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HSBC Life (International) Limited ('INHK') is one of Hong Kong's largest insurers by Annualised New Business Premiums , and the Hong Kong entity is HSBC Group's largest insurance manufacturing business globally. Accelerated growth of Insurance in Asia is a core strategic priority for HSBC Group , with the business already making a substantial contribution to HSBC Group's overall profitability. 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 Head of Insurance Business Finance & Capital Management - Global Finance.
The role holder will lead a team of 4 onshore FTE, plus support from an offshore team, and will report to the Chief Financial Officer. This is a high profile role with frequent interactions with the CEO and other members of local business senior management including Chief Operating Officer, Chief Actuary and Chief Distribution Officer, as well as Global Insurance and HSBC Bank finance senior management
Forecasting, Budgeting, Business Partnering and Benchmarking are all key responsibilities within this remit. Familiarity with embedded value and solvency frameworks, together with experience in partnering with actuarial teams, is essential
The role will be extremely varied in terms of its activities and will require an adaptable and driven individual who is interested in and closely connected to business unit initiatives and market developments with a strong commercial mind-set from both a P&L and economic profitability perspective
The role holder will lead the function provide strategic financial and business insight to Insurance CEO in Hong Kong, and the wider local insurance management team
Leverage Data Lake and Visualization technologies for more efficient FP&A processes, more frequent and granular monitoring of business performance, improved insights into cost investment and customer behavior
Play a key role in the Asset and Liability Committee, supporting the CFO as Chairperson in managing the agenda and clearly communicating on asset side performance, capital and liquidity positions and forecasts, and other key topics within the terms of reference of the Committee
Ensure sufficient visibility of Axa partnership GI business performance and drivers
Actively participate in key business meetings and engages with the key Business partners and Global Functions to support the understanding of the Business and Efficiency dynamics
Build and maintain effective relationships with key local and regional stakeholders within the Insurance Business and Global Functions to ensure effective communication and accurate interpretation of Business Finance information or analysis
Identify high risk areas or key issues to the business and make recommendations where appropriate
Ensure strong advocacy of cost management and provide analysis and insight to identify and drive opportunities to improve cost effectiveness
Produce and own financial plans jointly with the business, including monthly latest estimates, the annual plan and strategic planning activity
Increased consistency and control over financial analysis with use inputs derived from globally aligned management information and robustly defined inputs and data sources
Work effectively with wider onshore and offshore team, to maximize the available onshore business partnering time
Strong academic background
Professional accounting other relevant financial qualification and significant post-qualification experience
High degree of technical acumen aligned to incisive commercial insight
Knowledge and understanding of major technical components of the insurance financial statements and their dynamics, and ability to communicate them in a clear manner to a non-expert audience
Familiar with life insurance products and accounting frameworks, including embedded value measures
Working knowledge of IFRS 17 requirements advantageous, detailed training available
Experience from partnering closely with teams performing life insurance actuarial calculations, including statutory reserving, economic capital and embedded value reporting
Proven leadership ability and team working skills, ideally in an international environment.
Strong sense of risk management and controls.
A mind set of continuous improvement and aiming for excellence.
To be considered for this role, the relevant rights to work in Hong Kong is required.
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Issued by The Hongkong and Shanghai Banking Corporation Limited.