Vice President

HSBC Holdings plc; Kuala Lumpur; On-site; MYR 180,000 - 300,000; Full time

Job summary

HSBC Holdings plc in Kuala Lumpur is seeking a senior manager to lead Custody Tax Operations, driving tax strategy, risk management and execution across local and global teams.

You will coordinate with Group Tax, Tax Product, IT, and Change teams, and supervise implementation of new systems while ensuring regulatory compliance and strong internal controls.

Qualifications

• Experience leading financial operations teams.
• Ability to manage multiple stakeholders across functions.
• Strong understanding of custody tax operations and regulatory requirements.

Responsibilities

• Drive Custody Tax Operations strategy and risk management in Kuala Lumpur.
• Coordinate with Group Tax, IT, Tax Product and NFR to deliver change initiatives.
• Lead on process improvements and ensure timely delivery of tax services.
• Maintain and govern internal controls and compliance within operations.

Skills

Leadership

Stakeholder mgmt

Tax operations

Change management

Communication

Global matrix

Job description

Why join us?

Tax Operations provides operational tax services to MSS Operations covering the Markets, Custody and Funds businesses globally, supported by multiple Global Capability Networks. This role covers Custody Tax Operations within Kuala Lumpur.

What you’ll do:

As a senior manager within Custody Tax Operations, the incumbent will drive the implementation of the Custody tax strategy, ensuring that Kuala Lumpur has appropriate risk management, resourced sufficiently and is connected to their global teams. This includes managing the financial plan, hiring etc.

The Role holder will also act as a key point of coordination and interface between the Kuala Lumpur Custody Tax Operations teams, Group Tax, Tax Product in the business, Informational Technology (IT), Change and Non-Financial Risk (NFR) controls team as well as leading a team focusing on supporting key Change initiatives in Custody Tax, including implementation of new systems.

Key responsibilities will include:

• Ensure Custody Tax Operations service catalogue, for those performed within Kuala Lumpur, is delivered, defined and articulates all key processes in the function.
• Ensure all key regulatory obligations are understood and delivered in conjunction with other Custody Tax Operations sites, Group Tax and Tax Product teams.
• Ensure tax product offering is clearly understood and core capabilities that underpin this are mapped and measured, and any delta is understood and substantiated or developed.
• Ensure all downstream change, digitisation, automation and process reengineering is in line with above requirements and at all times delivers on both internal and client obligations and requirements.
• Delivering the product agenda and ensuring it is at all times in step with NFR requirements.
• Champion the requirements of Custody Tax Operations in programs aligned to the MSS Operations Strategy.
• Take a strategic view of MSS business requirements and subsequent impact to Kuala Lumpur operations and provision of tax services.
• Ensure seamless delivery across Kuala Lumpur for key Custody Tax Operations deliveries.
• Drive forward Custody Tax Operations location strategy through collaboration with other sites.
• Demonstrate new ways of thinking to improve performance, Drive change with energy and enthusiasm, Have the ability to communicate clearly, concisely and optimally, identify opportunities to implement scalable solutions that improve efficiency, and or client experience, Inspire and motivate others to achieve their goals and objectives.

What you will need to succeed in the role:

Impact on the Business:

• Delivering a robust and standardised service catalogue for the function.
• Establishing senior relationships across key stakeholders as interface between these and the function.
• Lead on process improvement opportunities within the department and beyond.
• Contribute to strategic decision making for operational processes and help to drive business enhancement and growth.
• Continued adherence and governance with internal control framework in operations to ensure the strength of our internal control environment within operations.
• Deliver tax offshoring strategy.

Customers / Stakeholders:

• Develop close and effective working relationships with all key stakeholders/clients, globally, and with our active and potential client base.
• Build close links to key stakeholders in other parts of the MSS Business and related functions.
• Leadership & Teamwork:
• Skilled in operating in a global matrix organization, delivering business results through influencing, building consensus around common purposes, collaborating on solutions, and dealing with conflict situations.
• Ability and gravitas to work at a peer level with operations and business management teams. Able to robustly stand up to challenges from senior management. Holds individuals accountable, and influences seniors appropriately.
• Ability to communicate concisely and effectively, providing insight and summaries, using formal structured channels and other less formal mechanisms.
• Sufficiently senior to have a ‘viewpoint’ and opinion as well as working with clients, operational and business teams to reach consensus.

Operational Effectiveness & Control:

• Drive the aligning of operating and quality control processes for Custody Tax Operations.
• Provide input on the development of relevant policies and control best practices.
• Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which you are involved, specifically internal controls and all relevant market regulatory considerations.
• Maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.

Major Challenges:

• Working with a diverse and varied set of key stakeholders, influencing key decisions in an environment where there will be differing goals and objectives.
• Keep abreast with the latest development in the rules and regulations by the regulators of the various markets and identify the implications involved to the team.
• Drive client agenda in the team, ensuring we deliver premium client experience.
• Ensure IT deliveries and change programs meet both client and team needs.
• Drive a culture of digitization and metrics / data adoption.
• Standardize processes in a divergent function.

Role Context:

• The candidate will be expected to be a strong communicator - need to liaise with both internal and external clients and escalate issues where required.
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring. Also, by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Management of Risk:

• Be aware of the operational risk scenarios associated with the role and act in a manner that takes account of operational risk considerations.
• Incumbent must proactively drive the identification, assessment, and mitigation of operational risk.
• Incumbent must be aware of the operational risk impacts associated with deficient operations processes and risk impacts due to changes to operations processes and/or technology supporting operations processing.
• Incumbent must critically assess existing or proposed processes and elevate identified risks.

Observation of Internal Controls:

• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
• Refer to Functional Instructional Manual (FIM) and desk procedure document.
• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Role Dimensions:

• All impacted products serviced by Custody Tax Operations.

What additional skills will be good to have?

• A proven delivery track record combined with a sound knowledge of Custody taxation across multiple geographies preferably in an operations environment. The role requires a proactive and articulate individual, comfortable being part of a multi-disciplined team, dealing with a broad number of clients both internally and externally including operating hubs.
• Good understanding of tax regulatory environment.
• People experience including influencing, guidance and support.
• A solutions-led individual, able to self-motivate and deliver high-quality results.
• Continuous improvement and project management experience are desirable.
• Lateral thinker with an ability to interpret and solve complex issues.
• Ability to act impartially, where required, to arbitrate in matters under dispute, build consensus, and resolve conflicts.
• Excellent client management skills, with the ability to build and develop networks and relationships with both external and internal clients and stakeholders.
• Excellent interpersonal, networking and influencing skills.
• Analytical and detail orientated.
• Strong delivery focus is essential. The role requires a proactive and articulate individual, comfortable with dealing senior management and able to deliver key messages and tailor output to the audience.