HSBC Group

Business: Global Risk & Compliance

Open positions:1

Role Title: AVP, FC Detection and DE GSC’s

Global Career Band: 5

Location (Country / City ): India/Bangalore

Recruiter Name : Geetika Gupta

The Opportunity:

Financial Crime

• The Financial Crime (FC) Function is a Second line of defence (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 inancial Crime 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 Assistant Vice President, Risk Analysis & Discovery will play an integral role in delivering this strategy. Through a combination of practical operational experience of key processes such as Investigations and Risk Assessment, utilising financial crime risk subject matter expertise (SME), an understanding of the financial crime regulatory landscape, and knowledge of HSBC matrixed operating model, they will ensure the Risk Discovery operating model is highly effective. Critical to the success of the role will be an ability to engage with stakeholders across various risk SMEs globally and regionally to ensure that the DRA meets the on-going needs and requirements of all the key stakeholders.
• The role is a key risk management role with a targeted remit and responsibilities including, but not limited to:
• Support the on-going agile development of the Dynamic Risk Assesment’s (DRA) capabilities in-order-to improve its management of financial crime risk.
• Play a key role in executing services that ensure the DRA can be deployed at pace to new markets across the Group.
• Be responsible for the identification of emerging risk and issues through use of the output from the DRA and financial crime case investigations.
• Take a key role in ensuring the DRA continues to be optimised to identify financial crime risk by working collaboratively with a wide range of stakeholders and to drive change to the DRA.
• Provide financial crime subject matter expertise at all stages of the DRA’s development and ongoing use.

What you’ll do:

Principal Accountabilities: key activities and decision-making areas

• The following principal accountabilities are aligned to the Financial Crime Services and Processes Model.

Impact on the Business

• Provide direction and updates on the effectiveness of the control provided by the DRA to Control Owners.
• To support the development of initiatives and guidance in support of Group Financial Crime objectives and effectively execute across the Risk Discovery portfolio.
• To ensure effective information sharing on all Risk Discovery Matters across Financial Crime, Compliance, and with other parts of the organisation.
• To escalate significant financial crime threats and management issues to senior leadership so appropriate action can be undertaken in response.
• Support the conversion of strategic plans into operational objectives for the Risk Discovery function.

Customer / Stakeholders

• Manage relationships with key internal stakeholders across Group functions, lines of business, regions, and countries.
• Facilitate the sharing of information and creation of feedback loops across the firm, with particular focus on Risk Assessment team stakeholder to continuously adapt and improve emerging risk identification
• Provide the support capability necessary to manage the response to high priority DRA Feedback requiring a response across Group Financial Crime functions, Compliance, lines of business, regions, or countries.

Leadership and Teamwork

• Provide support at a global and regional level with respect to the Risk Discovery operational environment.
• Influence through action and strong leadership with respect to establishing an effective and efficient Risk Discovery Environment, deliver very strong collaboration and influencing across the Compliance matrix
• Ensure effective communication across Compliance and the business to all key stakeholders in relation to Risk Discovery matters

Operational Effectiveness and Control

• Assist in the embedding of framework, policies, procedures, and controls as they relate to Risk Analysis & Discovery. Ensure that documentation for these is updated for changes in regulation and impacts on business
• Resolve any / all identified issues promptly and escalate concerns to management as appropriate to ensure timely awareness of any material concerns
• Maintain awareness of operational risk within the Risk Analysis and Discovery sub-value streams and minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting
• Assist in establishing manual and automated technical processes to ensure and evidence rigorous adherence to Group policies and management of operational risk
• Maintain sound understanding of key threats and system vulnerabilities and engage proactively with risk stewards to mitigate the impact of compromise

Management of Risk

• The management of the Risk Discovery function is an integral part of the risk profile and future state of financial crime risk management at HSBC Group. The Risk Discovery Manager will continually reassess the operational risks and the controls mitigating them. They consider changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring and by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Observation of Internal Controls

• Managers are accountable for setting the ‘tone at the top’ which underpins the principles of a positive and effective internal control environment. They should exhibit leadership and direction to their teams for establishing and maintaining an effective internal control environment, including the development and management of policies and procedures where appropriate. Managers should also ensure that suitable processes are put in place to review and oversee the internal control environment against those policies.

Local Job Requirements

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. It is the role of the Risk Discovery Manager to assist the HSBC Group in achieving a balance between the demands of regulators, external bodies and governmental initiatives and the Group’s shareholders and customers; 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 makes it increasingly important for the Group to be able to evidence adequate systems, controls, oversight, assessment and continuous monitoring. The role is one where regulatory authorities have high expectations and is likely to come under scrutiny as part of any major regulatory investigation.

Role Context

• The role holder has accountability for standard setting and specialist capabilities in relation to the Risk Discovery function. This can involve dealing with major issues for which there is no clear-cut solution whilst still being able to provide judgment to the team and stakeholders. Where items of major consequence are involved, engagement with the relevant top-level management and governance bodies will be expected through collaboration with the Head of Risk Discovery and Analysis and as required the Group Head of Financial Crime, and the Regional and Line of Business Chief Compliance Officers. Profound and far-reaching issues may also need to be directed to Group Chief Compliance Officer and Group Executive Committee, via the Group Head of Financial Crime. The nature of the role requires close working contact with senior executives across the Global Compliance function and the lines of business.

What you will need to succeed in the role:

Certifications, Qualifications and Experience

• Experience within a regulatory, investigative or intelligence agency, or as a compliance or technology manager within a global firm, in the financial services industry
• Expertise and experience in using technology to detect FC at an operational level
• An understanding of how technological tools are deployed to detect FC, including how these tools are used to improve alert volumes and risk coverage
• A good understanding of the Risk and Control environment and processes within Group FC
• A basic understanding of how machine learning and AI techniques are deployed to improve control operations
• A background or understanding of operational risk is desirable
• An understanding of customer behaviour, and able to demonstrate a good approach to Risk Management.
• Ability to understand and interpret data and communicate highlights in a succinct way, to varied audiences including senior management.
• Excellent stakeholder management skills, with the ability to work successfully across different geographies/cultures.

Skills

• Ability to interpret and analyse a large volume of information and / or data and provide succinct summary for senior management
• Ability to prioritise conflicting demands and problem solve in a dynamic environment

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You’ll achieve more at HSBC

HSBC is an equal opportunity employer 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. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”

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