Dave Watts Email & Phone Number

Bradford, England, Gb

CFO and Director of Vanquis Banking Group. A great time to becoming involved in the Vanquis story as it looks to transform itself and grow once again with the immediate aim to return Vanquis Banking Group back to profitable performance, and then to return to the FTSE 250 and potentially higher.

CAF Bank provides tailored banking services and loans to charities and social purpose enterprises across the UK. CAF Bank is solely owned by the Charities Aid Foundation and surplus bank profits are gifted to CAF to further its purpose in promoting giving and supporting charities across the globe. CAF was established in 1924, is one of the largest charitable foundations in Europe and has distributed over £5 billion in the last ten years.

London, Gb

o Re-appointed CFO (SMF2) for HSBC Bank plc (HBEU) and Head of Finance for HSBC's business in Europe, and appointed an Executive Director of HBEU.o Europe region incorporates operations in 22 countries across 8 time zones in a number of large subsidiaries and branches. c.15,000 FTE (excludes employees in UK ServCo and Global Service Centers), $9bn Revenues p.a., Adjusted PBT $2.3bn p.a.; Assets $900bn; RWAs $140bno Responsible for all aspects of Finance’s support and control of the global businesses and functions in the regiono The role leads the Finance function in Europe – currently c.400 FTE plus UK Servco and offshore support – ensuring compliance with Global Finance strategy; alignment of the Finance function to pro-actively support the growth of the HSBC franchise in Europe in accordance with Group strategyo HBEU Audit, Risk and Board Committee (director) representation; HBEU EXCO membership and ALCO Chair; all financial and regulatory reporting oversighto The role is focused with EXCO colleagues on executing the Group strategy to ensure that HBEU becomes the leading international wholesale bank in Europe, hubbed out of London and Paris, complemented by a targeted wealth and personal banking businesso The period up to the end of 2023 will see the Europe business complete its transformation, incorporating the disposal of a number of operations (e.g. France retail, Greece, Russia), a number of legal entity re-structuring’s to comply with EU requirements, the centralizing of western Markets & Securities Services activities into London, concluding a centralized wholesale booking model for Continental Europe into Paris, as well as the conclusion of HSBC’s Transformation programme (2020-22).o HBEU EXCO sponsor for Europe wide Wellbeing campaigno In addition, oversight of Finance in MENAT region with operations in 11 countries. c.10,000 FTE (ex. GSCs) of whom c.200 work in Finance, $2.9bn Revenues, Adjusted PBT $1.8bn; L&A $39bn; Deposits $44bn; RWAs $60bn

London, Gb

HSBC UK Bank plc (HBUK) incorporates all HSBC’s commercial, retail and private banking businesses in the UK. c.30,000 FTE (including its supporting service company entity), c.£6.4bn Revenues, adjusted PBT c.£2.5bn p.a.; Assets >£230bn; RWAs >£90bn. Responsible for all aspects of Finance’s support and control of the global businesses and functions in the newly established UK ring-fenced bank, while continuing to ‘double hat’ existing CFO HSBC Bank plc responsibilities (see below) until August 2018.Lead the creation of the new Finance team established in Birmingham to support HBUK.Lead the delivery from a Finance perspective of all Finance aspects associated with delivering the ring fenced bank and the initial financial and capital plans.Established a number of new forum for the new entity (e.g. ALCO) and proactively supported others in ensuring other required entity forum (e.g. Audit Committee) are effective.Significantly enhanced the management information, especially the cost transparency for the new entity, with a cost forum initiated, eliminating significant costs inappropriately charged to the entity.Significant engagement with the new Board and Audit Committee non-executive members to bring them up to speed with the financial performance, financial controls, regulatory, capital, funding and liquidity requirements and associated issues for the new entity.The Bank’s Exco representative for HSBC UK’s eight year partnership programme with British Cycling.Raised over £30,000 for The Alzheimer’s Society, the Bank's principle charity, with my participation in the Barcelona Ironman in October 2018.

London, Gb

CFO for HSBC Bank plc, with responsibility for all aspects of Finance’s support and control of the global businesses and functions in the Europe region, while continuing to ‘double hat’ existing CFO Global CMB responsibilities (see below) until July 2016.The Region incorporates operations in over 20 countries across 8 time zones in a number of large subsidiaries and branches. c.53,000 FTE, c.$18bn Revenues, adjusted PBT c.$6bn p.a.; Assets >$1trn; RWAs >$300bnResponsible for all aspects of Finance’s support and control of the global businesses and functions in the region,The role lead the Finance function in Europe c.900 FTE (reduced from >1,300) plus offshore support – ensuring compliance with Global Finance strategy; alignment of the Finance function to pro-actively support the growth of the HSBC franchise in Europe in accordance with Group strategy.HBEU Audit, Risk and Board Committee representation; HBEU ALCO and regulatory reportingThe role was highly focused on overseeing the delivery from a Finance perspective of the UK Structural Reform (‘ring-fenced bank’) by the end of 2018, the establishment of a RFB Finance function and the implementation of IRFS9Oversaw the development and initial delivery of the associated HSBC Financial performance, Capital and Funding plans associated with Brexit for HSBC, including briefing regulatory teams in London, Paris and Frankfurt; established a dedicated Brexit Finance team of c.80 FTE focused on all Finance deliverablesSignificantly enhanced the quality of insight and analysis provided to the HBEU Board, Audit, EXCO and ALCO committeesDrove the transformation of the Finance function in Europe, reduced costs by $68m (22%) to $236m over the 3 year period (2015-18), while establishing a new Finance team for the UK ring-fenced bank, Enhanced the regulatory engagement with the PRA for a number of key areas including capital, liquidity and funding, regulatory reporting, control issues and Financial performance

London, Gb

CFO for HSBC’s Global Commercial Banking (GCMB) business, with responsibility for all aspects of Finance’s support for the GCMB business globally, while continuing to ‘double hat’ existing CFO MENA responsibilities (see below) until August 2015.The GCMB business operates in 56 countries globally across a multiple of legal entities with c.25,000 front office staff, c.$15bn in global revenues, PBT c.$8-9bn p.a. (including associates); Assets >$300bn; RWAs >$400bn (including associates).Leadership of the Business Finance function supporting GCMB – c. 170 FTE in Group, Regional and priority Country locations – ensuring compliance with the Global Finance strategy while enhancing business finance activities within HSBC as part of the transformation agenda.GCMB EXCO, GCMB Risk Management Committee and GCMB Risk Committee (for Non-Execs) representation, plus membership of various other sub-committee governance meetings (e.g. new products, strategic investment prioritization).A more cohesive, effective, returns focused, global business finance function has begun to evolve with increased respect and engagement with GCMB business stakeholders.Incisive, timely, forward looking MI and monthly forecasts provided to the business; MI policies are being developed to ensure globally consistent reporting and thereby facilitating internal peer analysis, while being fully aligned to external reporting.Forward looking risks and developments (e.g. accounting policy, regulatory, taxation) impacting the business, as well as areas of judgment, are now summarized as a ‘CFO report’ for the GCMB Risk Committee meetings.Leadership of the report optimization workstream within the global business finance transformation, and initial impetus behind the ‘service proposition’ workstream; co-sponsor of the client profitability workstream.

London, Gb

CFO for HSBC's business in MENA, with responsibility for all aspects of Finance’s support and control of the global businesses and functions in the region; role also incorporates the CFO HSBC Bank Middle East Limited (HBME) and CFO UAE positions.Region incorporates 13 countries across 5 time zones in 3 key legal entities; PBT c.$1.7bn p.a.; Assets c.$65bnRole lead the MENA Finance function – currently c.220 FTE plus offshore support – ensuring compliance with Global Finance strategy; alignment of the Finance function to pro-actively support the growth of the HSBC franchise in MENA in accordance with Group strategy.HBME Audit and Board Committee representation; HBME ALCO and regulatory reporting.A cohesive, effective pan-MENA Finance function was established, that grew in quality and respect from business and function stakeholders, as well as the MENA CEO and Group Senior management.Through re-engineering of day to day activities approximately 50 roles were eliminated (excludes offshoring and divestitures), offset by a degree of focused investment.Support for the businesses significantly enhanced especially Commercial Banking (CMB) and Retail Banking & Wealth Management (RBWM) which were virtually non-existent upon appointment.Re-worked all ALCO policies and practices that on an annualized basis have saved >US$100m in interest expense for HBME. Similarly, RWA optimization activities delivered over $3bn in RWA savings.Timely ‘single version of the truth’ delivered for all MI provided to the businesses and functions, fully aligned to external reporting.Initiated and initially lead the re-domiciling of HBME from Jersey to the DIFC and the restructuring of the HSBC’s corporate structure in MENA.Successful acquisitions and integrations in Oman (June'12) and the UAE (October'12), plus divestiture of HSBC’s operations in Jordan (June'14) and Pakistan (November'14).Enhanced relationship with the HBME regulator from a prudential reporting perspective.

London, Gb

A new Group role to cover cost and investment reporting and analysis for the whole of the HSBC Group, while retaining existing HTS CFO accountabilities (see previous role).Delivery of global cost and FTE MI to Group senior management, to support of the Group’s ‘Organisational Effectiveness’ (OE) programme as part of the HSBC phase one Strategic plan (2011-14).Establishing and implementing globally MI policies and procedures from a cost and FTE reporting perspective.Established the Group’s ‘sustainable cost saves’ policy and global reporting process that has facilitated externally reporting of over $4bn of cost saves as part of the Group’s OE programme.Formulated and presented to the Group Management Board the policies for the reporting of the Group’s $40bn cost base by business and function, subsequently implemented.Established PeopleSoft GHRS as the ‘golden source’ of Group FTE reporting with monthly, incisive MI provided to Group senior management.Implemented monthly global cost reporting for the Risk, Finance, HR and Marketing functions.Delivery of MI relating to investment spend via an oversight of Group Standard Business Cases.

London, Gb

A new Global role covering all finance responsibilities with respect to the HSBC Technology and Services division (HTS), $13bn of costs (110k FTE) equating to approximately one third of HSBC’s cost base.Established, and then subsequently led the 'HTS Finance' organization across the HSBC Group migrating over 350 FTE from HTS into Finance – the first major ‘boundary change’ in the Group, for which a policy was developed and MI reporting process incorporated to facilitate ‘like for like’ financials within HTS.Developed a ‘Business Framework’ for HTS and implemented an MI system with quality monthly reporting processes to consistently and accurately report, and subsequently analyse, HTS costs globally as well as the Annual Operating Plan (AOP).Significantly reduced the difference in perception of the true cost of HTS where the original differential (HTS v Finance) was $7bn in 2009 to <$100m by the end of 2011.Ownership and enhancement of the financial reporting for the various HTS designated legal entities (c.8-10 globally).Assumed ownership of the recharge and billing process of HTS costs to the global businesses and functions.Oversight of the ‘One HSBC’ Finance team whose business case review and analysis eventually lead to the demise of the ‘One HSBC’ programme due to costs exceeding the benefits presented.

London, Gb

A newly created global role with responsibility for the oversight and control of the end-to-end processes for the Global Banking (GB) businesses including:> Business information, planning and analysis across all products and regions > Business advisory, working with the Head of GB and its COO to define and implement the strategy for GB> Responsibility for the books and records of the business > Transaction advisory, in conjunction with other specialist support functions including regulatory control, tax and compliance > Co-ordination of business reviewsDeveloped and implemented a ‘business partnering’ Finance and Operational support function for GB through a global re-aligning and enhancing of staff resources.Completely re-engineered the MI process to enable accurate, timely and comprehensive business information and analysis to be delivered to the business on a cost efficient basis, with a forward looking forecasting process.Through focused analysis, identified and successfully executed a number of cost mitigation exercises.Led the implementation of the GB Coverage Model from a Finance perspective, facilitating the allocation of relationship management costs across product lines based on supporting time analysis reporting which continues to be used to drive the GB business.Member of GB’s and GB&M’s Infrastructure Management Committees, as well as the GB&M Global Operating Risk Committee.Owner of the GB Functional Instruction Manual consolidated and re-written in 2007GB was established in April 2006 within GB&M with responsiblity for the management and delivery of all lending products (term, leveraged, syndicated), portfolio management, project and export finance, M&A/Advisory and Equity / Debt Capital Markets, as well as the relationship management function, with respect to its largest c. 3,000 corporate and institutional customers globally.c.$3bn in revenues generated annually from around 2,600 front office staff located in over 50 countries.

London, Gb

A new cross-entity role established to develop a ‘best in class’ consistent Financial Control function spanning HSBC’s two main legal entities in the USA (HSBC Securities (USA) Inc (‘Broker/Dealer’) and HSBC Bank USA N.A) to facilitate the build out of HSBC’s ‘Global Banking & Markets’ business in the USA. Role encompassed assuming the role as CFO for HSBC Securities (USA) Inc. Key areas of management responsibility encompassed the following teams:> Accounting Control> Funding & Financing> Financial & Regulatory Reporting> Balance Sheet Control> Management Information Reporting> Business Finance functions for Alternative Funds Services and Private Client Services> Finance Transformation Programme> Finance ControlsDefined, developed and completely re-structured the Financial Control department (c. 70-75 staff) and its operational processes to deliver a significantly more efficient and enhanced from a control and MI perspective Finance support function for the US GB&M businesses.Member of GB&M’s Americas Operating Risk Committee upon inception.From a Finance perspective oversaw the integration of HSBC’s US Retail Broker Dealer and US Bank of Bermuda operations into legacy HSBC entities.Passed NYSE Series 27 (Financial and Operations Principal) exams in 2004.

London, Gb

A new role and function established following HSBC’s acquisition of the Republic National Bank of New York (RNBNY).Established the GFSA NY internal audit function covering all Investment Banking and Markets activities transacted in the USA and Canada by HSBC.Audit of all aspects of the business - Front Office through to and including all support functions.Established the first use of Lotus Notes Audit Information Database within GFSA globally.Through a consultative audit process, helped to significantly improve the control standards of the former RNBNY businesses in line with HSBC standards.Following a system integration assigned for four months to manage a team of c.25 consultants to resolve c. 12,000 unreconciled nostro items down to steady state of significantly less than 1,000 items with an enhanced ‘business as usual’ framework established.

London, Gb

A new role established to address the numerous process and control weaknesses within the Finance and Operations departments supporting the Treasury and Capital Markets business in France.Responsible for developing and managing the Treasury Finance, Operations and Futures Clearing sections.Completely re-engineered these sections in terms of both staff and processes/controls.Delivered a streamlined end state department that only required 10 staff (down from an initial 18 staff).Strategically evaluated the Futures Clearing and swaps portfolio, which ultimately resulted in managing their transfer/sale.Delivered a ‘Good’ (highest possible) internal audit grading compared to an inherited ‘Unsatisfactory’ (lowest possible) internal audit grading.Products and services provided by the business included money market, FX, swaps and debt securities as well as futures clearing and acting as Custodian for the Bank of England’s Euro-denominated assets.Oversaw the implementation of the Euro and Y2K process for the Treasury Services function.

London, Gb

Joined the department shortly after the Financial Services Internal Audit function was re-located to London from Hong Kong and at a time when the function was being enhanced to cover the merged Midland/HSBC entities.Remit to audit globally all of the Treasury and Capital markets activities undertaken by the HSBC Group.Audit of all aspects of the business – Front Office through to and including all support functions.Audited operations in c. 15 countries ranging from performing sole audits through to managing large multi-site audits.Worked on HSBC’s acquisitions in Brazil (Bamerindus) and in Mexico (Banca Serfin).Worked on the production of the Global Markets Functional Instruction Manual.Developed the ‘small audit checklist’ which served as an ‘aid memoir’ utilized by numerous individuals (audit and business) to ensure that the basic internal controls were in place.

CRO was a company established to manage the legacy Lloyds' syndicates previously operated by Gooda Walker before they went into run-off.Reporting to the CFO, the role encompassed managing five staff who delivered all accounting/finance support for the seven syndicates and CRO itself.Utilized the ‘big company’ knowledge obtained from KPMG to re-engineer numerous processes and controls within the small company environment within which the Syndicates and CRO operated.Engaged in a degree of cash and FX management with respect to the numerous cash calls made on behalf of the syndicates.Implemented a Sun GL system for CRO and a Time Recording system to facilitate charging of costs with respect to consultancy work performed by CRO.Overall an extremely valuable two years in a small company environment that has been beneficial to me throughout my time at HSBC, where few colleagues have had such experience.

London, Gb

Graduate trainee assigned to KPMG’s General Audit practice.Participated and led numerous different external audits of clients, which included the following major clients:> HongKongBank Trade Finance (part of HSBC)> Diageo plc (formerly Grand Metropolitan)> London Merchant Securities plcExposure to Personal Tax consultancy for c. one year which included a number of compliance reviews for a variety of clients.Participated in KPMG’s UK ‘Communications’ Forum.

Education record

Education record

Bachelor'S Degree, Geography And Physical Education