Roy Dimech Debono has been appointed manager-reporting (management information) with HSBC Group. Mr Dimech Debono will shortly be taking up his new post at HSBC Bank plc’s Head Office in London’s Canary Wharf, where he will be working on a five-year project aimed at delivering a Group wide transformation in the way financial information is collected and processed.

HSBC Group’s Finance Transformation Programme (FTP) will deliver a professional, effective and responsive finance service at optimal cost, employing a common and transparent global model. The key benefits to HSBC’s operations will be a consistently well controlled finance environment with clear accountability for integrity of the financial records and reports, the timely delivery of validated, high quality financial information to support effective business decision making, the ability for finance to respond quickly and effectively to acquisitions, divestitures and other structural change and the ability to respond quickly and cost effectively to external change.

“HSBC Group’s FTP programme is one of the bank’s most important projects currently underway. To ensure its successful implementation, the Group is drawing on its best professionals from around the world. Roy, as Senior Manager – ALCO & Regulatory Reporting at HSBC Bank Malta, has developed the skills and the experience needed for this important role in London. On behalf of everyone at HSBC in Malta I wish him all the best in this new challenge, which I am certain he will be more than up to,” said HSBC Bank Malta’s chief executive officer, Mr Shaun Wallis.

In order to obtain the benefits of a more efficient finance function across HSBC, FTP also has to deliver a model that not only facilitates the timely delivery of key financial reports but also enables finance to absorb major structural changes and environmental change. The model, therefore, requires transparency and flexibility but also standardisation and rigorous accountability.

“The finance department is crucial to the effective running of a bank. It provides the information on which executives make their business decisions. Financial reporting also plays a critical role in informing other stakeholders, such as shareholders and customers about the current financial position of the bank. Through FTP, HSBC Group is aiming to establish a global model for financial reporting, greatly improving the efficiency of the service we provide to all our stakeholders. The project is a complicated and challenging one but I am delighted to have been selected and am very much looking forward to moving to London,” said Mr Dimech Debono.