HSBC Group

Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share.

The Regulatory Compliance function is a Second line of defense (LoD) function, responsible for reviewing and challenging the activities of the Group’s businesses (also referred to as “the First LoD”) to ensure that they effectively manage as “Risk Owners” the Regulatory Compliance risks inherent in or arising from the conduct of their activities and for which they are responsible. The Second LoD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LoD. The Regulatory Compliance function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group’s risk framework. The US Head of Regulatory Compliance is the senior accountable executive responsible for ensuring that HSBC’s operations in the USA are effective in identifying, managing, and mitigating Regulatory Compliance risks. 

As our Head of Regulatory Compliance, US you will:

• Risk Stewardship for US regulatory compliance
• Provide advisory services to HSBC North America Holdings Inc. (HNAH) in order to ensure clear understanding of compliance risk exposure with respect to clients, transactions and products
• Manage the relationship with relevant regulators on behalf of HNAH
• Be responsible for second line governance of Regulatory Compliance providing analysis, reporting and governance to HNAH that is independent of the first line of defense, thereby maintaining an objective assessment of risk exposure
• Assist the senior management of HNAH, the leadership of the Regulatory Compliance function, and other colleagues on all material compliance related matters
• Represent the compliance agenda for the US region up to the highest levels of the Group’s governance, including being a member of the Global Regulatory Compliance ExCo and as an attendee (as required) at the HNAH Board (and related sub-committees) to report on progress and issues in relation to the operational effectiveness of HSBC’s policies, processes, systems and controls in countering Regulatory Compliance risks
• Oversee the other Regulatory Compliance risk stewards reporting to this role and lead them and the HNAH Compliance team, establishing guiding principles and strategic operational objectives, owning budgeting and managing costs, headcount and resources to ensure that the teams are fit for purpose and that the delivery of its critical services to the Group is both effective and cost-efficient

 Impact on the Business

• Oversee the critical compliance policies and systems that impact HNAH and ensure that the Group’s exposure to Regulatory Compliance risks is managed in a commercially sensitive, practical and cost effective manner
• Provide advice and support on Regulatory Compliance risks to senior management, and other colleagues
• Membership of HNAH Executive Committees

 
Customer / Stakeholders

• Report to the Group Head of Regulatory Compliance and HNAH CEO
• Ensure that senior management are appropriately advised of all material Regulatory Compliance related matters relating to HNAH
• Manage and foster a strong relationship with all relevant regulators in relation to the activities of HNAH and ensure timely disclosure of relevant information
• Ensure that positive relationships are maintained with other external stakeholders relevant to the compliance agenda

 
Leadership and Teamwork

• Provide leadership to and develop the function for HNAH, liaising closely with functional reports and (where relevant) with local line managers
• Maintain and develop positive and professional working relationships with senior business managers and Regulatory Compliance colleagues at the Group level and those in other Regions and Businesses
• Create an environment for the delivery of consistent performance measurement, training, career management and succession planning across the HNAH Regulatory Compliance capability
• Establish a strategy for the sharing of Regulatory Compliance knowledge and best practice across the US and the wider Regulatory Compliance Function and Group

Operational Effectiveness and Control

• Create a framework for the effective risk-based monitoring of the implementation of Regulatory Compliance policies and controls across HNAH
• Agree and oversee the implementation, embedding and monitoring of the adherence to the Compliance FIM in HBUS
• Monitor and assess the resourcing, costs and spend of the HNAH Regulatory Compliance team

 
Management of Risk

The management of Regulatory Compliance is an integral part of the role profile of the US Head of Regulatory Compliance. 
 
The Head of Regulatory Compliance for the US will continually reassess the Regulatory Compliance risks inherent in HNAH, taking account of 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 Regulatory Compliance 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 that internal control environment against those policies.

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 Head of Regulatory Compliance for the US, as a key senior member of the function to 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 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.

For this role, HSBC targets a pay range between $400,000.00 and $500,000.00

The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.

You´ll likely have the following qualifications to succeed in this role:

• Significant experience as a regulator, or a senior compliance manager across all areas of Regulatory Compliance risk within a global firm, in the financial services industry
• Detailed and extensive knowledge of the HSBC Group structure, its business and personnel, and HSBC’s corporate culture
• Significant leadership experience and an experienced strategic thinker
• Excellent communication and inter-personal skills, with experience of dealing with executives at all levels
• Ability to develop practical, cost-effective solutions to complex global issues
• A legal or formal accountancy qualification or professional background in a relevant risk or audit discipline

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the U.S. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!

All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.