Head of Pension Risk

  • Negotiable
  • London, England, United Kingdom
  • Permanent, Full time
  • HSBC Bank plc
  • 18 Aug 17

An exciting new Global Pension Risk Senior Manager position has become available at HSBC. There are two aspects to this position, Global and Europe and UK.

The main responsibilities will include:

Global Aspect

    • Manage and mentor technical members of the team;
    • Review and challenge stress testing and capital calculations, methodology, assumptions and models with responsibility for information submitted to the UK regulator;
    • Lead all engagement with the Prudential Regulatory Authority on behalf of Global Pension Risk;
    • Oversee the reporting of the Global Pension Risk Appetite in line with the Group's overall risk appetite and risk management objectives;
    • Be responsible for the Pension Risk section of the Group's Annual Reports and Accounts;
    • Influence and advise on investment decisions of pension schemes around the world towards an optimised capital position achieved via better matching of assets and liabilities;
    • Writing papers for HGHQ Board, presentations to Group CFO and Group Chairman on a regular basis;
    • Be the Deputy Global Head of Pension Risk assisting the Global Head with recruiting and strategy for the team and its structure;
    • Regular attendee and presenter at the Global Pensions Oversight Committee on innovative pension topics.

The Europe and UK Aspect

    • Own the relationship with the executive team charged with running the UK Scheme on behalf of the Trustee Board;
    • Lead discussions with the Trustee and its representatives relating to triennial valuations, investment strategy changes and structural changes to the Scheme and make recommendations to the Accountable Executive on these matters;
    • Assist the Accountable Executive in their interactions with the Trustee Board and Trustee Board Chair;
    • Lead all engagement with the UK Pensions Regulator;
    • Oversee the pension risk management and governance for European countries as well as the UK;
    • Drive the agenda topics and materials for the HBEU Pensions Oversight Forum as well as being a member and regular presenter; lead/deputy chair of the Pension Steering Forum;
    • Write papers and present at Europe and UK Boards, Risk Committees and to senior stakeholders;
    • Be involved in the UK pension community and recognised as a key contributor; remain abreast of regulatory changes;
    • Lead any capital/funding/accounting impact to pension changes within HSBC or via regulatory changes affecting the region.

The skills and experience required include:

  • Undergraduate in Mathematics, Economics, Business Administration, Finance, Actuarial Science or a related field
  • Relevant pensions/actuarial qualification desirable
  • Experience with accounting rules, especially IAS 19
  • Experience of pension risk management essential
  • Experience of working with fiduciaries/Trustees desirable
  • Clear, concise written and presentation skills a must
  • Project / risk management experience
  • Experience of working in Capital Management/Finance function an additional advantage