Pension Risk Governance Analyst

Last updated 1 hours ago
Location:Greater London


Role Title: Pension Risk Governance Analyst
Business: Risk
New or Existing Role- New
Grade: GCB 5

Role Purpose

  • Provide support in the shaping and stewardship of the pension risk management infrastructure of the Group, to champion effective management of pension risk, including financial and non-financial risk elements. Role holder will support and assist with governance of the risk control environment and modelling processes, will contribute to guidelines for management of pension and other post-employment benefits risks and will liaise with key HR, Finance and Risk colleagues across the globe.

    Key Accountabilities
    Impact on the Business:

  • Support global pension risk projects and BAU activities, providing subject matter expertise as needed to enhance governance and risk management practices around the globe.
  • Assist with the setting of global policy standards and controls for pensions risk management. These cover identifying, assessing and mitigating of both financial risks, impacting capital requirements, and non-financial risks, such as operational and resilience risks.
  • Responsible for the aggregation of the global pension risk map monthly, and accompanying commentary
  • Maintain register of top and emerging risks, including coordinating responses from sites around the world on existing and new risks
  • Track progress of global internal audit items relating to pensions;
  • Keep abreast of key pension regulatory changes and help to implement and monitor compliance with those regulations across the regions to the extent there is a global impact.
  • Maintain pensions data and management information and prepare reports on the risk and control profile.
  • Draft papers on a wide range of pension risk topics for Pension Risk Oversight Forums (POFs) and other senior bank committees.
  • Provide secretarial support to Pension Oversight Forums as needed.
  • Support pension modelling work as required, subject to receiving any necessary training

    Customers / Stakeholders

  • Support regional colleagues with implementing global policy standards and with risk oversight in connection with any of the Group’s pension plans as required from time to time.
  • Engage regularly with and become a key contact for colleagues with responsibility for pension benefits and those with financial and capital management responsibilities impacted by pensions – this will include colleagues in HR, Finance and Risk.
  • Working with procurement from time to time in relation to review of third party services.
  • Support negotiations and sound relationship with pension scheme trustees/fiduciaries as required.

    Leadership & Teamwork

  • Work well within a small Global Pension Risk team in a fast paced environment
  • Influence a range of colleagues across regions and functions to ensure pension risk is managed well
  • Positively motivate self and others when issues and difficulties arise

    Operational Effectiveness & Control

  • Support the implementation of effective processes and systems supporting the pension benefit risk strategy, which may include HSBC’s Principal Risk Reporting systems and monitoring the effectiveness of Risk & Control Assessments.
  • Ensure that the effectiveness of internal control activity is properly monitored

    Major Challenges

  • Working to a backdrop of changing economic conditions and regulatory environment
  • Dealing with multiple stakeholders across the globe, in some cases with little common knowledge of each other’s areas
  • Implementation and driving change across multiple business lines/geographic teams
  • Dealing with ambiguity and incomplete information when providing expert guidance to decision makers
  • Demand to meet Regulatory and Group requirements/standards – often within short timescales

    Role Context

  • The Global Pension Risk team is small and responsible for a material quantum of risk within HSBC. The tasks will require contact with senior executives across the group, both cross border and across multiple functions. The role holder will have authority to carry out the key activities and will be guided by their manager, the wider team and by HSBC policies.

    Role Dimensions

  • HSBC operates c134 pension and other post-employment benefit plans around the world with over $50bn in assets.

    Management Risk

  • The role holder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation. This will be achieved by consistently displaying the behaviours required to support the Best Place to Bank principles of Make Better Products, Sell Them Properly and Keep Them Sold.
  • The role holder 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.

    Observation of Internal Controls

  • 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.