Attachment and Familiarisation
The Financial Control Division operates like a bank inside the Bank. All of the Bank’s strategic initiatives, tactical plans and business decisions has to flow through the financial system – a system for which we are the key driver. We work closely with the Bank’s stakeholders, including business partners, shareholders, regulators and external examiners. We function as accountants and business partners in providing comprehensive information on financial management, capital management, financial planning, financial and compliance reporting, insurance finance, finance policy and control, tax and Global Markets finance.
In your first two years as a Financial Control Management Trainee, you will be given attachments to various key project initiatives. You will contribute to the development of Financial Control functions to ensure the successful implementation of new Bank initiatives and new regulatory requirements. This experience will give you the necessary grounding and knowledge to take up a 12-month placement within the Division.
- Financial Management Information, Planning and Analysis
- Build a good understanding of management accounting concepts and the Bank’s financial management information functions, which provide accurate, timely information to facilitate senior management in formulating business strategies and managing business growth. You will also learn valuable business analysis skills that will allow you to critically evaluate business performance and costs.
- Learn the keys to managing balance sheet risks and allocating resources, and participate in budgetary preparation and control.
- Financial and Compliance Reporting
- Gain solid expertise in meeting the requirements of regulators, such as the Hong Kong Monetary Authority, with respect to a large bank’s financial information, and in the implementation of new accounting policies and practices based on newly enacted or amended statutory requirements.
- Participate in the preparation of the Bank’s financial reports and build up your financial accounting knowledge in the banking industry.
- Capital Management
- Assist in preparing materials for the Bank’s Asset and Liability Committee (ALCO).
- Take part in the preparation of risk-weighted asset calculations for capital reporting and planning.
- Insurance Finance
- Participate in various insurance financial closing activities such as discussions with the Actuary Department on the financial results, life insurance investment accounting and reporting, actuarial reserve reviews and solvency margin calculations.
- Gain an understanding of the insurance regulatory framework and various insurance products.
- Global Markets Finance
- Take part in the preparation of management reports for the Bank’s treasury and investment business.
- Assess the impact on profits and losses from the introduction of new products or treasury accounting standards.
- Internal Audit
- Acquire expertise in assessing the internal control environment and understand the risk management process of a well-established financial intermediary.
- Gain an understanding of the banking regulatory and control framework, and master the intricacies of dealing with auditors and regulators.
After completing the programme with Financial Control, you will be ready to join our team of experts and become a long-term member of our team. In this role, you will be expected to:
- Lead a team that functions as a business partner for other internal business units.
- Use your accounting knowledge to analyse financial information and provide advice to senior management on the future business growth of the Bank.
- Ensure the Bank’s financial health by managing its balance sheet risks and allocating resources appropriately to meet performance objectives.
- Work with regulators and external examiners to make sure that regulatory capital is managed in a fit and proper manner.
In addition, after three years’ practical experience with us as a Financial Control Management Trainee you may also be accorded a professional qualification in accountancy.
Training and Development
- Classroom Training
- Comprehensive and logically organised classroom-based training will cover leadership and management, product and technical know-how, risk management, compliance and operations procedures specific to your Management Trainee Programme stream.
- Experiential Training
- Through an intensive experiential learning experience, you will enhance your capacity for self-understanding, appreciating team dynamics, problem solving, taking the initiative in and ownership of self-motivation and leading others, and relationship building.
- Overseas Training
- There are opportunities to attend overseas graduate development programmes to learn more about the HSBC Group's business strategy, enhancing personal and team dynamics, building leadership skills and personal development.
- External Conferences
- We regularly send Management Trainees to attend financial and banking-related conferences to ensure our future executives and leaders keep abreast of best practices within our industry by learning from thought leaders and networking with other banking professionals.
Mentorship and Coaching
During each of your attachments, you will be assigned a mentor who will provide guidance and coaching. You will also be assigned a Management Trainee buddy from the same Programme stream for additional support.
Hang Seng will help you to attain professional qualifications as required in your chosen business / function stream. Such qualifications may include:
- - Associate of the Hong Kong Institute of Bankers
- - Chartered Financial Analyst
- - Certified Public Accountant
- - Certified Financial Planner
- - Certified Financial Risk Manager
As a Management Trainee, you will have many opportunities to represent Hang Seng at business events and corporate social responsibility functions, and participate in various internal staff activities, offering you the chance to polish your interpersonal and communication skills and build new relationships both within and outside the Bank.