International Financial Manager - Essay Example

International Financial ManagerThe Hong Kong and Shanghai Banking Corporation (HSBC) was established in 1865. It currently stands among the largest financial services and banking firms of the world and holds 6,900 offices in both established and rapidly growing financial markets of the world. They serve about sixty million of clients in various countries by means of their four businesses worldwide, namely: Commercial Banking, Retail Banking and Wealth Management, Global Private Banking and Global Banking and Markets.

Their network of banking and financial services include 87 countries and territories in the regions of Europe, Africa, Middle East, Asia Pacific, Latin America and North America. Surely, they are acknowledged as the leading international bank around the globe. HSBC is listed on the stock exchanges of New York, London, Hong Kong Bermuda and Paris. Above 2, 21,000 shareholders belonging from about 134 countries and territories of the world have invested in the shares of the HSBC Holdings plc. Being one of the leading international banks of the world, HSBC require a team of highly qualified, talented, skillful and globally mobile mangers that have the potential to work in any capacity of the business in any part of the world.

Thus, the HSBC offers a unique opportunity to the finance professionals of making an internationally mobile banking career through its International Finance Management Program enabling them to gain the capabilities required to progress up to the level of senior management.The role of the International Financial Managers (IFMs) is extremely crucial in the progress of the HSBC. The IFMs of the HSBC developed a portfolio of international banking and management skills through a large number of challenging projects and assignments that were related to the developed and emerging markets in 87 countries and territories of the world.

Although IFMs are not really expert bankers however they could work in different roles across all of the business and support functions of the HSBC Group such as the Commercial Banking, Retail Banking and Wealth Management, Insurance, Global Private Banking, Risk Management, Global Banking and Markets, Audit and Operations. The International Financial Manager should be flexible since the financial assignments and projects are driven according to the business requirements. An IFM could be a fresh MBA or a management or finance professional seeking to take a next step in his or her career.

As an IFM at HSBC, one should be able to: Demonstrate leadership qualities.Commit to the ongoing global mobility across the career path.Develop a clear understanding of the challenges and opportunities related to the changing roles at regular intervals.Make an immediate impact irrespective of the current level or status of the job.HSBC provides a highly competitive remuneration package and benefits to its International Financial Managers that include: Tax-free salary.Annual 30 working-day holidays.

Bonuses associated with performance.Assistance in relocation.Accommodation allowance.Pension scheme.Private medical care.The International Financial Managers at HSBC strive to encourage the potential business community all over the world to invest in their financial services and products. In doing so, they need to show to the investors that the bank possesses adequate value of Owner’s Equity and retained earnings for funding in its future progress and that HSBC has been able to maintain its liabilities at a comfortable level.

They should also focus on operation efficiency since it is the key factor in promoting the business strategies of an organization. ReferencesFDI in Emerging Market Countries (2003). Report of the Working Group of the Capital Markets Consultative Group.