HSBC Group

The opportunity: Senior Manager, Financial Crime Oversight, Global Private Banking and Wealth

At HSBC, we’re a trusted international organization with a global customer base of around 39 million customers worldwide through a network that covers 62 countries and territories. In Europe, our ambition is to become the leading international wholesale bank and we need talent like you to help us meet our ambition. Whether you want a career that could take you to the top or in an exciting new direction—we offer opportunities, support and rewards that will take you further.

The Financial Crime (FC) Function is a Second line of defense (LOD) function that includes ”Risk Stewards” who are independent of the commercial risk-taking activities undertaken by the Group’s businesses (also referred to as “the First LOD” or “FLOD”). The FC Function also operates a set of critical controls on behalf of the FLOD by harnessing intelligence, analytics, technology, detection and investigation. The Risk Stewards are responsible for reviewing and challenging all the activities of the FLOD to ensure that, as “Risk Owners”, they effectively manage the FC risk inherent in, or arising from, the conduct of their activities and for which they are responsible. FC risk is a non-financial risk that includes fraud, money laundering, bribery and corruption, sanctions violations, terrorist financing, proliferation financing, export control violations and tax evasion. The FC function operates in accordance with HSBC Group’s Risk Management Framework (RMF).

The Global Private Banking & Wealth (GPB&W) Financial Crime Oversight Team provide oversight and challenge of GPB relationships with particular focus on Special Category Customers (SCC) and High Risk (HR) relationships and booking centers/themes identified for increased oversight, to ensure that globally these relationships are appropriately reviewed, and we exercise our full suite of financial crime controls and critical thinking, to prevent our products and services from being used for financial crime. They act as a Global Financial Crime Risk Stewardship center of expertise and guidance for onboarding and escalation of such cases. 

Are you interested? Do you have Risk and Compliance experience? Do you enjoy to be part of a cohesive team? 

If you answered yes to any of these questions, we want to hear from you! 

What you will do: 
The Senior Manager, Financial Crime Oversight, Global Private Banking & Wealth (GPB&W) is positioned in the GPB&W Financial Crime Risk Stewardship Team.  They are required to review HR/SCC relationships being onboarded into GPB and a sample of existing client relationships, to ensure that enhanced customer due diligence has been carried out effectively and that financial crime risks are appropriately identified, mitigated and controlled.  Enhanced due diligence includes source of wealth, source of funds, purpose of account, assessment of negative news and any indicators of financial crime.  The role holder will also provide advice and guidance to local financial crime teams on complex cases, risk appetite and intelligence sought through external vendors. The role is a key risk management role with a targeted remit and responsibilities including, but not limited to:

• Reviews and challenges GPB onboarding of high risk and SCC relationships across GPB booking centers globally.   
• Carries out risk-based sampling of existing client relationships across GPB booking centers globally.
• Coordinates a programme of targeted thematic reviews, working with local financial crime stewards.
• Provides guidance to local financial crime stewards on the sourcing and use of insight and intelligence provided by external vendors including scoping of reports and interpretation and assessment of findings. 
• Manages case workload in line with Service Level Agreements (SLAs), business and financial crime priorities. 
• Works closely with HSBC Financial Crime Investigations teams drawing upon resources and insights arising through wider investigative activity.    
• Identifies and reports on emerging themes and areas for action identified through cases reviewed. 
• Identifies cases for escalation to GPB Reputational Risk & Client Selection Committee (RRCSC), Wealth & Personal Banking RRCSC and Group
• Reputational Risk Committee in line with policy, procedure and risk appetite. 
• Provides advice and guidance on controls that should be in place to mitigate financial crime risk.
• Establishes strong, trusting and mutually supportive relationships with 1LoD and 2LoD stakeholders. 

Major Challenges:

HSBC is an extremely diverse business with significant geographical spread and activities that span a universal banking model, including continuing to innovate to keep abreast of changes in financial services markets globally. Such activity is in an increasingly regulated and complex global environment with often little consistency between laws and regulations in different jurisdictions and regulators taking a far more proactive approach in ensuring local compliance with their requirements and imposing increasingly stringent sanctions for breaches.

The Global Private Banking Business, Ultra-High Net Worth Individuals and particular jurisdictions are characterized by higher risk relationships.  These relationships may also be complex in nature with complex structures, arrangements and connections across multiple jurisdictions.  These inherently higher risk relationships require strong analytical assessment and critical thinking to ensure that financial crime risks have been sufficiently assessed, understood and mitigated.  

Working on customer cases across multiple jurisdictions requires the job holder to:

• Effectively work with stakeholders across jurisdictions and time zones. Understanding their objectives and time pressures whilst maintaining independence and quality standards. 
• Manage workload within agreed timescales and SLAs and manage the demands of the multiple diverse aspects of the role.
• Maintain a global perspective, connecting the dots, with consideration and appreciation of regional differences, strategy and risks.

This role will assist the Group in achieving a balance between the demands of regulators, external bodies and governmental initiatives and the Group’s shareholders and customers in enacting FC compliance; being alive to the political, management, regulatory and reputational implications of a particular decision and courses of action at a global level; assisting executive management in the development of controls and systems and influencing the way in which the business is conducted in order to manage these risks, meeting Group risk appetite.

The increased focus on individual liability for senior managers, particularly Risk Heads, makes it increasingly important for the Group to be able to evidence adequate systems and controls.

The role is one where regulatory authorities have high expectations and is likely to come under scrutiny as part of any major regulatory investigation.

You should apply if you have:

• Experience and understanding of the Private Banking and Wealth Management business.
  
• Experience working within a regulatory, investigative, or financial intelligence agency, or as a senior compliance or risk and manager within a global firm, in the financial services industry.
  
• Strong understanding of Group Financial Crime Policy and GPB &W Procedures including Customer Due Diligence and Enhanced Due Diligence.
  
• Strong understanding of the current regulatory environment and expectations, relevant regulations, codes, and as well as their underlying purpose to mitigate risk to the financial system and provide information useful for the public sector to provide law enforcement and security.
  
• Strong understanding of financial crime typologies, emerging themes and how they may manifest in GPB&W relationships.
  
• Critical thinker, analytical.
  
• Excellent communication and inter-personal skills, with experience of dealing with first and second line stakeholders across regions and markets.
  
• Degree educated and or relevant professional finance, regulatory or financial crime risk management qualifications.
  
• Due to immigration restrictions in Switzerland we will only be able to consider applications from Swiss or EU citizens or from candidates holding a valid Swiss work permit.

Even if you feel you do not meet 100% of our qualifications, we encourage you to apply, if you believe this role is right for you.

What you’ll get in return

We’ll help you progress your career, including access to development programmes, mentoring and coaching, as well as world-class training through HSBC University.

You can work your way and will have a say in when, where and how you and your team flexibly work together.

Our benefits will give you financial security, and can include: 

• Health & meal allowance, public transport or (e-)bike allowance.
  
• Our family-focused benefits can help you to support your loved ones and include: days off for key events (weddings, moving house, adoption). A one-time marriage or registering of a "Civil.Partnership" grant. One-time premium for birth or adoption, as "gift" or "voucher. 4 weeks’ paternity leave & 26 weeks’ maternity leave.
  
• Emergency Childcare with the Red Cross, free of charges for HSBC employees.
  
• Purchased holidays scheme, unpaid leave, sabbatical, Volunteering Leave.
  
• Accident insurance (private coverage) paid by the Employer, attractive Pension Scheme.
• We’ll give you a huge range of resources that support your mental, physical and social well-being, including:
  • Various sports and leisure activities organised by the employees for the employees.
  • The Bank offers to the employees and their family members specialised free, confidential service to help them deal with any personal problems – either at work or at home. Unlimited telephone consultations services available 24/7.
• You’ll have opportunities to work internationally - this can be your place to start and branch out to anywhere we have offices.
  
• You’ll be able to join our Employee Resource Groups that bring together colleagues with shared characteristics and common interests.

As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of ethnicity, religion, age, physical or mental disability/long term health condition, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by local law in the jurisdictions in which we operate. Within the work place you will have access to various employee resource groups which aim to promote and achieve a healthy work / life balance and support our diversity ambitions. HSBC has in place processes in order to avoid nepotism, which means to avoid creating circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.

HSBC is a signatory company of the Advance Charter. This Charter is a commitment towards gender equality in business and hence a workplace environment that supports a fair and balanced approach to hiring, remunerating, promoting and retaining female talent.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Within HSBC in Switzerland all internal candidates from Group and external applicants are required (subject to local laws), to pass satisfactorily a series of additional checks both as part of the application process and, if successfully recruited into the role. The Group reserves its position with regard to any steps which it may take in relation to any material adverse findings which arise either when the checks are first carried out as part of this recruitment exercise, and/or if relevant, on an ongoing basis.