Careers

Financial Reporting and Control

With dynamic changes in the international / local accounting standards as well as statutory reporting requirements, the team faces constant challenge in seeking efficient reporting solutions. Arising from the need to have timely and accurate financial reporting, the team is in the forefront in implementing new accounting standards and regulatory guidelines ahead of others in the industry, tapping on the expertise of HSBC Group Offices around the world especially its head office in London and its regional office in Hong Kong.

This team also manages the Bank's General Ledger and oversees the soundness of the Bank's internal / financial control.

 

Management Reporting

HSBC Malaysia is organised into various business units which represent our customer base. The Finance team provides business unit profitability and other related information (e.g. product and customer profitability) to assist the business managers in understanding the drivers of their business performance. Business managers require relevant and value-added 'Management Information' to highlight emerging trends, identify areas for improvement and to manage their costs efficiently.

The Finance team is responsible for preparing the annual budget and rolling forecast. This exercise requires close co-ordination between Finance and the business managers and gives the Finance team valuable insight into the dynamics of the Bank's businesses.

 

Financial Compliance

The Sarbanes-Oxley Act 2002 (SOX) legislation was passed by the US Congress to prevent future accounting misstatement. As HSBC is listed in the New York Stock Exchange, it is mandatory for the Bank to comply with the legislation. BASEL II has been implemented in Malaysia, effective from 1 January 2008.

The Financial Compliance team is responsible for HSBC's financial risk management, corporate governance and financial compliance. The risk management process is extensive, mainly covering Basel II compliance, SOX (documentation, testing and remediation procedure) and regulator/Group's requirements in relation to corporate governance practices.

For financial risk management governance, the Financial Compliance team is responsible for the preparation, compilation and monitoring of various financial ratios for Bank Negara Malaysia, Group and Board Risk Management Committee so that proactive measures can be taken to manage the financial risks of the Bank.

 

Tax

The in-house tax team oversees all the taxation matters of the diverse Group operations in Malaysia. The tax team ensures that the tax compliance requirements are met, and provide tax advisory services to the various customer groups of the Bank and the other Malaysian Group entities to ensure the overall tax efficiency of the Malaysian Group operations.

 

Treasury Finance and Operations

HSBC Malaysia is one of the premier market makers in Global Markets products. The Bank maintains a strong presence in the retail market by providing competitive and innovative Global Markets packages and solutions to its corporate customers. Apart from its traditional strength in offering foreign exchange, money market and negotiable instrument products, the Bank has moved into areas such as derivatives and capital markets with a focus on innovative products such as structured wealth management products for high net worth individuals.

Treasury Operations supports these initiatives by providing an evolving yet efficient and well controlled infrastructure in ensuring that all trades entered into by the Front Office are properly documented, accurately recorded, processed, settled and reconciled.

Treasury Finance is involved in the monitoring of market risk, product control as well as handling the external and internal reporting requirements for Global Markets. This involves an understanding of accounting standards (Malaysia, Hong Kong, UK and US) and ensuring that these accounting standards are met.