Role purpose

The Chief Financial Officer – Insurance Mexico has overall responsibility for leading the financial management of the insurance entities, including the principal operating subsidiary HSBC Seguros S.A de CV (‘INMX’) and a legacy Pensions subsidiary of INMX, HSBC Pensiones S.A. The role is also responsible for the monitoring and reporting of the performance of HSBC’s insurance distribution partnerships in Mexico, including under the general insurance exclusive distribution agreement with AXA.

The role holder will report to the Global Head of Finance for HSBC Life, and will functionally manage core finance activities (Financial Control / Financial Reporting, Business Finance / Financial Planning Analysis, and Asset Liability Capital Management). The role holder will also have local entity management responsibility over the Chief Actuary and the Chief Investment Officer, with each of those roles also having a functional management line to Group Insurance Head Office counterparts.

The role holder will provide trusted advice and business partnering to the Chief Executive Officer and the wider Executive Committee of the INMX business, driving improved business performance and proactive cost control. Through the management of the Chief Actuary and Chief Investment Officer, and oversight of those teams and functions, the role holder will also have a key role to play in the day to day management and execution of the financial strategy of the entity.

The role holder will additionally need to maintain proactive engagement with the Bank’s Mexico and Americas Regional finance leadership. The Americas Wealth and Personal Banking CFO (also based in Mexico) and the Mexico Bank CFO will be key stakeholders.

Principal Accountabilities and Responsibilities

A member of the senior leadership team for INMX, responsible for developing and supporting the strategy.Responsible for overseeing and managing all financial matters, including external and management reporting, regulatory reporting, capital planning, and investment reporting. Required to understand and review actuarial results including review and assumptions used, and oversight of control over processes and analysis of results.Responsible for ensuring appropriate processes and adequate control over end to end financial reporting (across accounting and actuarial sub-processes), and acting as overall risk steward over financial reporting for the entity. This includes current reporting requirements and the transition/cut-over to IFRS 17.Responsible for compliance with external regulatory reporting requirements in the local market, and compliance with Group reporting standards.Oversee the Chief Investment Officer function, ensuring appropriate focus on optimisation of strategic asset allocations, management of investment mandates, and asset/liability management.Maximise the efficiencies from existing systems, and where possible align to globally standardised systems and processes.Drive business performance through the provision of strategic financial and business insight to the Executive Committee, offering appropriate levels of challenge and supporting the optimisation of returns and capital deployment. Lead competitor benchmarking exercises to demonstrate execution effectiveness of business strategy.

Role purpose

The Chief Financial Officer – Insurance Mexico has overall responsibility for leading the financial management of the insurance entities, including the principal operating subsidiary HSBC Seguros S.A de CV (‘INMX’) and a legacy Pensions subsidiary of INMX, HSBC Pensiones S.A. The role is also responsible for the monitoring and reporting of the performance of HSBC’s insurance distribution partnerships in Mexico, including under the general insurance exclusive distribution agreement with AXA.

The role holder will report to the Global Head of Finance for HSBC Life, and will functionally manage core finance activities (Financial Control / Financial Reporting, Business Finance / Financial Planning Analysis, and Asset Liability Capital Management). The role holder will also have local entity management responsibility over the Chief Actuary and the Chief Investment Officer, with each of those roles also having a functional management line to Group Insurance Head Office counterparts.

The role holder will provide trusted advice and business partnering to the Chief Executive Officer and the wider Executive Committee of the INMX business, driving improved business performance and proactive cost control. Through the management of the Chief Actuary and Chief Investment Officer, and oversight of those teams and functions, the role holder will also have a key role to play in the day to day management and execution of the financial strategy of the entity.

The role holder will additionally need to maintain proactive engagement with the Bank’s Mexico and Americas Regional finance leadership. The Americas Wealth and Personal Banking CFO (also based in Mexico) and the Mexico Bank CFO will be key stakeholders.

Principal Accountabilities and Responsibilities

A member of the senior leadership team for INMX, responsible for developing and supporting the strategy.Responsible for overseeing and managing all financial matters, including external and management reporting, regulatory reporting, capital planning, and investment reporting. Required to understand and review actuarial results including review and assumptions used, and oversight of control over processes and analysis of results.Responsible for ensuring appropriate processes and adequate control over end to end financial reporting (across accounting and actuarial sub-processes), and acting as overall risk steward over financial reporting for the entity. This includes current reporting requirements and the transition/cut-over to IFRS 17.Responsible for compliance with external regulatory reporting requirements in the local market, and compliance with Group reporting standards.Oversee the Chief Investment Officer function, ensuring appropriate focus on optimisation of strategic asset allocations, management of investment mandates, and asset/liability management.Maximise the efficiencies from existing systems, and where possible align to globally standardised systems and processes.Drive business performance through the provision of strategic financial and business insight to the Executive Committee, offering appropriate levels of challenge and supporting the optimisation of returns and capital deployment. Lead competitor benchmarking exercises to demonstrate execution effectiveness of business strategy.

Leadership

Extensive leadership experience at the Executive level with a strong capacity to innovate and find solutionsProgressive leadership and communication skills, ability to lead change, influence and actively drive performanceTrack record of developing highly capable, motivated and diverse teamsExperience and ability in resolving complex issues through leadership, influence and negotiationExcellent communication and inter-personal skills; strong track record of engaging, challenging and influencing business performance in a large corporate environment (the INMX business is material to the global insurance results and to the local and regional WPB division results, leading to a very wide range of stakeholders. The role requires an ability to operate in a complex, matrixed organisation)Fluent in business English and Spanish, both written and oral

Technical capabilities

Extensive knowledge of Life Insurance products, Reinsurance, InvestmentsProven experience managing funding, liquidity and capital risk in an Insurance businessRobust controllership background with a knowledge of current IFRS and at least a working knowledge of the requirements of IFRS 17, together with a proven ability to oversee the actuarial methods and processes used for liability valuation and embedded value calculation; this can be demonstrated either through direct experience in an actuarial function or through close oversight of actuarial functions in an accounting and finance capacity.CUSF (Insurance local regulation law), LISF (local insurance law) (Solvency II) and NIIF (local general accounting), extent local accounting, Accounting for SAT (Tax regulator)Knowledge and understanding of all key components of insurance financial statements and their dynamics, and ability to communicate them in a clear manner to a non-expert audience

HSBC is committed to building a culture where all employees are valued, respected and where their opinions count. We want to build a culture where our employees are comfortable in bringing their whole self to work, regardless of gender, age, sexuality, ethnicity, disability, religious belief, background, and any other aspect of personal difference. At HSBC we are oriented towards guaranteeing gender equality and constant training for our employees as well as the protection of their labor and social rights.

Leadership

Extensive leadership experience at the Executive level with a strong capacity to innovate and find solutionsProgressive leadership and communication skills, ability to lead change, influence and actively drive performanceTrack record of developing highly capable, motivated and diverse teamsExperience and ability in resolving complex issues through leadership, influence and negotiationExcellent communication and inter-personal skills; strong track record of engaging, challenging and influencing business performance in a large corporate environment (the INMX business is material to the global insurance results and to the local and regional WPB division results, leading to a very wide range of stakeholders. The role requires an ability to operate in a complex, matrixed organisation)Fluent in business English and Spanish, both written and oral

Technical capabilities

Extensive knowledge of Life Insurance products, Reinsurance, InvestmentsProven experience managing funding, liquidity and capital risk in an Insurance businessRobust controllership background with a knowledge of current IFRS and at least a working knowledge of the requirements of IFRS 17, together with a proven ability to oversee the actuarial methods and processes used for liability valuation and embedded value calculation; this can be demonstrated either through direct experience in an actuarial function or through close oversight of actuarial functions in an accounting and finance capacity.CUSF (Insurance local regulation law), LISF (local insurance law) (Solvency II) and NIIF (local general accounting), extent local accounting, Accounting for SAT (Tax regulator)Knowledge and understanding of all key components of insurance financial statements and their dynamics, and ability to communicate them in a clear manner to a non-expert audience

HSBC is committed to building a culture where all employees are valued, respected and where their opinions count. We want to build a culture where our employees are comfortable in bringing their whole self to work, regardless of gender, age, sexuality, ethnicity, disability, religious belief, background, and any other aspect of personal difference. At HSBC we are oriented towards guaranteeing gender equality and constant training for our employees as well as the protection of their labor and social rights.