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The Financial Crime 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”). These Risk Stewards are responsible for reviewing and challenging the activities of the the First LOD to ensure that, as “Risk Owners”, they effectively manage the financial crime risk inherent in, or arising from, the conduct of their activities and for which they are responsible. Financial 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 Financial Crime function operates in accordance with HSBC Group’s Risk Management Framework (RMF).

We are currently seeking an experienced individual to join our team as an Head of Financial Crime Singapore & IWPB Asia.

Role purpose 

The Head of Financial Crime Singapore and International Wealth and Premier Banking (‘IWPB’) Asia is responsible for ensuring Singapore and IWPB Asia manage the Financial Crime risks that they face. The role holder is the senior accountable executive focused on and responsible for ensuring that Singapore and IWPB Asia operations are effective in countering the risk that they might be used or targeted for financial crime activities. The role is a key risk management role with a broad remit and responsibilities, while the role mainly focuses on proactive Financial Crime risk management in Singapore, the role would also ensure the oversight on Financial Crime IWPB related areas across Asia, excluding Hong Kong.

Reporting to Head of Financial Crime, Asia and Middle East on functional basis and Chief Risk and Compliance Officer Singapore on entity basis.

Principal Accountabilities and Responsibilities

The role has a broad remit and responsibilities covering:

1) Financial Crime Singapore

• The MLRO, and the Accountable Executive for countering financial crime for Singapore with delegated responsibilities from Head of Financial Crime, Asia and Middle East, specific to HSBC Singapore, as set out in formal delegation letters as per SMR requirements. 
• Provide effective oversight of the operational effectiveness of critical policies and systems covering financial crime that ensure that the Singapore exposure to financial crime and related reputational risk is managed, in a commercially sensitive, practical and cost effective manner.
• The articulation of Singapore risk appetite and policies with respect to financial crime risk. 
• Identify, analyse, and investigate Financial Crime risk to support informed risk management and effective information sharing with internal and external stakeholders (including government), grounded in advanced analytics and technology. 
•  Act as a trusted advisor to the Singapore CRCO, Singapore Board and Singapore senior executive stakeholders (including the leadership of the Risk and Compliance function) on all material financial crime risk and related reputational issues involving Singapore that arise in relation to the management of financial crime risk.
• Coordinate a consistent approach to manage Singapore positive relationship with its regulators and ensuring timely reporting and disclosure of relevant information both to our regulators and within the Group in relation to financial crime matters and to stay at the forefront of key regulatory changes, particularly where relevant to Singapore, to ensure proactive communication with business and contribute to appropriate policy and framework changes. 
• Serve as the financial crime risk steward for Singapore in relevant governance meetings or forums to report on progress and issues in relation to the operational effectiveness of HSBC’s policies, processes, systems and controls in countering financial crime. To exercise risk steward challenge on Financial Crime risk, act as independent trusted advisory in governance forums, issue management, fostering a compliance culture and optimizing relations with risk owners and control owners.
• Ensure second line governance of financial crime risk exposure, providing analysis, reporting and governance that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure. 
• Lead the Singapore Financial Crime team, establishing guiding principles and strategic operational objectives, owning budgeting and managing costs, headcount and resources to ensure that the Singapore Financial Crime team is fit for purpose and that the team’s delivery of its critical services is both effective and cost-efficient. 
• Drive the implementation of policy related to Financial Crime risk arising out of changes in Financial Crime within Singapore and regionally.

2) Financial Crime IWPB Asia

The role includes broad remit and responsibilities covering FC risk management for IWPB Asia, excluding HK:-

• Manage financial crime specialists who face off to the stakeholders and product teams as relevant within IWPB Asia, require strong stakeholder management skills and the ability to build partnerships to drive and accelerate the execution of financial crime risk management programmes that directly impact business performance. 
• Accountable for the implementation of financial crime policies into the IWPB Asia business and ensuring a clear understanding of financial crime risk exposure with respect to clients, transactions, staff and products.
• Provide effective oversight of the operational effectiveness of critical policies and systems covering financial crime that ensure that the IWPB Asia exposure to financial crime and related reputational risk is managed, in a commercially sensitive, practical and cost-effective manner.
• Act as a trusted advisor to the senior executive stakeholders of IWPB Asia as well as the leadership of the Risk and Compliance function, on all material financial crime risk and related reputational issues involving IWPB Asia that arise in relation to the management of financial crime risk including the delivery of strategic and tactical initiatives for effective risk oversight and mitigation. 
• The articulation of financial crime risk appetite and policies with respect to financial crime risk faced by IWPB Asia. 
• Serve as the financial crime risk steward for IWPB Asia in relevant governance forums to report on progress and issues in relation to the operational effectiveness of HSBC’s policies, processes, systems and controls in countering financial crime. Exercise risk steward challenge on Financial Crime risk, act as independent trusted advisory in governance forums, issue management, fostering a compliance culture and optimizing relations with risk owners and control owners.
• Ensure second line governance of financial crime risk exposure, providing analysis, reporting and governance that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure in IWPB Asia. 
• Contribute to build a robust financial crime risk management culture and strategy through both internal and external governance, strategy and communications, as well as people management and policy adherence.
• Stay at the forefront of key regulatory changes, particularly where relevant to IWPB Asia to ensure proactive communication with the business and contribute to appropriate policy and framework changes.
• Drive the implementation of policy related to Financial Crime risk arising out of changes in IWPB Asia Financial Crime.

Functional Knowledge

• Significant financial crime experience as a regulator, investigator, or a senior financial crime manager within a global firm, in the financial services industry. 
• Successful track record in strategic leadership and influencing is essential, in particular the application of this skill in areas outside their direct span of control.
• Significant knowledge of a financial crime risk framework and experience in its execution, together with knowledge of HSBC business and products.
• A background or deep understanding of operational risk is also highly desirable.
• Track record of resilience and confident challenge when in dealing with senior stakeholders to influence change without direct responsibility for resources or budget.
• Experience of dealing with regulatory matters and confident interaction with Regulators.
• Experience of creating, leading and motivating a team.
• Experience of working within a matrixed environment preferred.
• Significant leadership experience and an experienced strategic thinker.
• Excellent communication and inter-personal skills, with experience of dealing with executives at all levels

Skills

• Role model leadership, communication and influencing skills, with experience of dealing with executives at all levels including the capacity to articulate the case for risk management and policy in the language of business.
• Ability to develop practical, cost effective solutions to what are often complex global issues.
• Ability to lead change, coordinating with other teams globally.
• 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.

HSBC Values

The role holder is expected to uphold the HSBC values (we value difference, we take responsibility, we succeed together, and we get it done) and promote a “speak-up” culture.

The chosen candidate for this role will be required to undergo enhanced vetting. Subject to local laws, this will require the individual to satisfactorily pass a series of additional checks as part of the recruitment process and on an ongoing basis, if appointed to the role. HSBC Group reserves its position with regards to any steps which it may take in relation to any material adverse findings which arise either when the checks are originally completed, and/or if relevant, on an ongoing basis.

Your local internal application policy should be followed. For more information you can visit HRDirect and search for content "SGP: Internal Job Application Criteria”.

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