Head of Pensions

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Finance is integral to HSBCs purpose and strategy playing a valued role in managing costs and deploying capital in the most effective way. Our 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 an ambitious individual to join our team as HSBC Group Head of Pension Strategy working together with colleagues to manage the pension risk associated with HSBC defined benefit pension plans globally. The role is part of Global Treasury and will report functionally to the Global Head of Capital Management & Stress Testing. The role will be based in London with a hybrid working pattern.

As an HSBC employee in the UK you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees enhanced maternity and adoption pay and support when you return to work and a contributory pension scheme with a generous employer contribution.

HSBC has c70 Defined Benefit pension plans globally. The primary objective of this role is to influence the management of these plans to achieve capital efficiency while protecting member benefits including liaison with key internal and external stakeholders. The role will also maintain and develop internal MI to ensure that the risks are measured and managed including climate risk and that there is adequate capitalisation of residual risks. The role will lead a specialised team of five individuals.

The main objectives of the role:

- Influence the management of HSBCs Defined Benefit pension plans to achieve capital efficiency while protecting member benefits. Where appropriate this may include mechanisms to realise pension surplus in capital.
- Engage with HSBCs government affairs dept and external parties to influence development of pension legislation/regulation.
- Provide pension subject matter expertise to assist senior HSBC management in broader pension risk management including up-to-date knowledge of industry practice.
- Ensure adequate capitalisation of residual risks and appropriate external disclosures.
- Maintain and develop infrastructure (including sponsorship of key models) to ensure that the risks are measured and managed including climate risk.
- Manage and develop the Pension Strategy team.
- Seek efficiency and enhanced control through automation and other levers.
- Work closely with and respond to both Treasury Risk Management (Second Line of Defence) and Internal Audit (Third Line of Defence) across all areas of pension risk.

In this role you will:

Impact on the Business
- Seek to improve HSBCs Return on Tangible Equity and Economic Profit through reduction of the pension risk capital requirement and where appropriate realisation of surplus into capital. This will require a delicate balancing of the interests of all stakeholders.

Customers / Stakeholders
- Liaise with relevant internal stakeholders including senior operating entity executive and non-executive management HR Legal Government affairs Treasury Risk Management and Internal Audit.
- Liaise with relevant external stakeholders including pension Trustees banking regulators (particularly PRA) pension regulators government bodies pension consultancies.

Leadership & Teamwork
- Demonstrate strong communication influencing and negotiation skills technical leadership and sound judgement.
- Lead and develop the team creating opportunities for them to learn and progress.
- Promote an environment that supports diversity and reflects the HSBC brand.

Operational Effectiveness & Control
- Comply with all required internal policies and external rules or laws.
- Ensure all team members are aware of their obligations with regards to internal policies and external rules including those relevant to money laundering (ML) terrorist financing (TF) sanctions and other reputational risks.

To be successful in the role you should meet the following requirements:

- Possess a wealth of broad-based pension experience including working within financial services.
- Actuarial qualification or similar qualification with deep relevant experience.
- Proven record of disciplined delivery across topics with a wide range of stakeholders.
- Excellent verbal and written communication skills with experience of preparing and communicating key messages and recommendations to senior management and other stakeholders.
- Strong influencing interpersonal negotiation and conflict resolution skills.
- Result oriented team player who can foster strong and collaborative partnerships.

This role is based in London.

Opening up a world of opportunity.

Being open to different points of view is important for our business and the communities we serve. At HSBC were dedicated to creating diverse and inclusive workplaces - no matter their gender ethnicity disability religion sexual orientation or age. We are committed to removing barriers and ensuring careers at HSBC are inclusive and accessible for everyone to be at their best. We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities long term conditions or neurodivergent candidates who meet the minimum criteria for the role.

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