HSBC Group

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HSBC is one of the largest banking and financial services organisations in the world, with operations in 62 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of Global Head, Regulatory and Compliance Operations

Business: Global Operations

Location: Bangalore/ Hyderabad  ( Bangalore preferred ) 

Role Purpose:

Regulatory and Compliance Operations constitutes a group of global functions that services all the business and functions across the bank. The global functions include constitute Financial Crime Compliance (FCC) operations, Regulatory Compliance Operations including complex regulatory requirements around Market Conduct, Market compliances around Substantial Holding, Takeovers, Acquisitions and related compliance requirements, TAX compliance, Vendor Management and Oversight.

Financial Compliance Operations:

• Fraud Risk: Global Employee Vetting function 
• Fraud Risk : Non-Employee Vetting QA (Quality Assurance) function (developing)
• Anti-Bribery and Corruption (AB&C) Operations

Regulatory and Compliance Operations:

• Personal Account Dealing Global Operations (PAD)
• Disclosure of Interest (DOI)
• Regulatory Reporting function (Indonesia)

TAX Compliance Operations:

• Global Tax Utility (GTU)

Vendor Management and Oversight:

• Multiple global vendors across different teams in Regulatory and Compliance Operations, delivering through key FCC (Financial Crime Compliance) and Regulatory controls for the bank, managing delivery, Third party risk and operational delivery through performance management and Oversight.

Principal responsibilities:

Financial Crime Operations:

• Global Employee Vetting: Vetting is a key Group defense against Internal Fraud and other risks. It provides a level of assurance that a candidate’s background does not raise reasonable concerns that their employment would expose HSBC to unacceptable levels of risk. Global Employee vetting is responsible for developing and advancing standards and procedures to identify and mitigate financial crime and other related risks related to Employee and Third-Party risk, given the high dependence of global vendors to operate the control.
• Non-Employee Vetting: Global QA to validate key internal fraud control to identify weaknesses on background of contractors hired by our third-party vendors.
• Anti Bribery and Corruption: Bribery and Corruption risk is the risk that HSBC, its Staff or APs commit Bribery or Corruption, or its products and services are used to commit Bribery or Corruption. These risks can occur either through the actions by Staff, APs or Customers, or due to a failure to maintain an effective control framework to mitigate Bribery and Corruption risks. Bribery is the act of offering, promising, giving, authorizing, requesting, demanding or receiving a financial advantage or anything of value, with the intent to improperly influence, induce or reward improper performance in order to obtain or retain a business advantage. This includes authorizing others to commit Bribery. Corruption is the abuse of entrusted power for private gain.

Regulatory and Compliance Operations:

• Personal Account Dealing Global Operations: Global Regulators have an exception that firms can identify their market abuse related conduct risks to ensure that have effective systems and controls in place. This requires that employees avoid conflicts of interest and breaches of legal and regulatory requirements in their personal dealings. The role holder will be responsible as a Control Owner for effective monitoring of the controls and compliance with procedures as set out in the Personal Account Dealing Policy.
• Disclosure of Interest Operations: A Centre of Expertise (CoE) that has been mandated by the HSBC Group to own the controls, processes, and procedures to ensure that HSBC complies with all published and known disclosures of interest obligations set out by Regulators and Competent authorities. To ensure that HSBC meets all its DOI obligations, appropriate controls are meant to be designed and operated in accordance with the HSBC Risk Management Framework. and risk appetite on behalf of the 1LOD (Risk Owners).
• Regulatory Reporting function (Indonesia): Regulatory Reporting to Central bank of Indonesia, ensuring the data gathering, data preparation and reporting in accurate and timely way.
• TAX Compliance: Global Tax Utility: FATCA (Foreign Account Tax Compliance Act)/CRS (Critical Risk Support) tax compliance operations for Wholesale banking and WPB clients and managing any tactical, strategic, and regulatory-driven change initiatives necessary to achieve desired levels of customer experience and alignment to Global Business demand. The primary focus is to drive up the customer experience and advocacy, manage the operational risk and realize lower operating costs.
• Vendor Management and Oversight: Multiple global vendors across different teams in Regulatory and Compliance Operations, delivering through key FCC (Financial Crime Compliance) and Regulatory controls for the bank, managing delivery, Third party risk and operational delivery through performance management and Oversight. Managing global vendor relationships supporting control operations and compliance technology used to operate the controls and meet regulatory obligations to mitigate risks and keep the bank safe.

Key Expectations:

• The role holder is responsible for the 1LOD Employee Vetting, and AB&C controls, including the QA control on non-employee vetting to ensure the FCC controls are operated to a high standard at the lowest possible cost and risk to the bank.
• The role holder is also responsible for the 1LOD PAD controls, Substantial Shareholding, Takeover, Acquisitions related market compliance requirements including a specific Bank of Indonesia reporting team.
• The role holder will provide clear strategy and direction to all personnel responsible for the delivery of Employee Vetting, Non-Employee vetting, AB&C, PAD, DOI reporting functions. Adherence to Group FIM (Functional Instruction Manual), Group Policy on Fraud Risk, AB&C, Market Conduct Controls, Disclosure of Interest, Group Tax Policy is essential, except where regulatory or legal restrictions requires an alternative solution.
• In addition, in particular, the role holder needs to ensure that the regulatory requirements for each of the jurisdiction where HSBC hires and operates are considered in the procedure, reviewed, monitored and reported to the senior management as per the defined framework on a regular and structured basis.
• The Job Holder will lead all aspects of directly envisioning the future state, strategizing, transforming, operating, managing and delivering the positive outcomes for the above distinct teams so they operate to a high standard at the lowest possible cost and risk to the bank. The role holder will provide clear strategy and direction to all personnel responsible for the delivery of necessary outcomes thereby complying with banks policies that support the delivery of the obligations as set out by the regulators across global jurisdictions i.e. where HSBC operates (120+).
• The role holder needs to ensure that the regulatory requirements for each of the jurisdiction where HSBC hires / operates are considered in the procedure, reviewed, monitored and reported to the senior management as per the defined framework on a regular and structured basis with high level of governance and controls. The role provides expert advice and support to the production of outcomes for HSBC and act as subject matter expertise knowledge for its employees, stakeholders, Risk stewards and its non-employees (contractors, contingent workers and service providers).
• The role holder is accountable for the service provided by offshore and onshore operational teams. Responsible for management of third-party vendor relationships.
• The Head of Regulatory and Compliance Operations is responsible for all global activities for the multiple teams within Regulatory and Compliance Operations from an operational, cost, capability, strategy and delivery perspective.
• Provide clear direction and leadership to onshore and offshore teams (across various teams, across 11 locations) who execute controls, checks to manage FCC, Regulatory Compliance, Tax compliance (FATCA/CRS) operations for the business, jurisdictions where the bank operates.
• Protect the reputation & integrity of the Group by ensuring appropriate operational processing and administrative activities are completed in accordance with local laws and regulations.
• Obtain “Satisfactory” grading in audits, in order to avoid fines, or sanctions.
• Establish procedures that optimize efficiency in reducing the inherent risks & costs in the processes and systems used for the functions in scope.
• Implement with the team, the proposed initiatives with the Line of Businesses seeking the appropriate prioritization to achieve the appropriate deployment of resources, & mitigation of risks in the operational area.
• Maintain control and governance of Audit, Assurance and MSII outcomes & clearance within timelines.
• Manage, maintain, and control costs versus de Annual Operation Plan (AOP) budget, including resource demand and supply within plan.
• Track and oversee Change Transformation activities as well as supporting the delivery of all major programs in accordance with Global Standards.
• Build a trusted relationship with key stakeholders in Financial Crime Risk Stewards, Regulatory Compliance, HR, Legal and Global Business/Global Functions (GB/GF) to achieve a proactive primary contact for the stakeholders and local supplier relationship managers. Ensure any local control requirements, not in line with Group policy or procedures, are understood, fully justified and appropriately implemented.

Impact on the Business:

• Accountable for all aspects of management and operations related to the Group Employee Vetting, PAD, DOI, GTU and AB&C teams.
• Perform control monitoring across all controls owned within the Group. Ensure any resulting actions are prioritised and resourced.
• SLA’s (Service Level Agreement) and other operational metrics.
• Feedback from Senior stakeholders in the region and Group.
• Issues are remediated in line with Group guidance and within agreed timescales.
• Full engagement and cooperation from GB/GF stakeholders and a clear understanding of their obligations under the policy.
• Improvement recommendations identified and agreed.

Customer / Stakeholders:

• Develop exceptional working relationships with global stakeholders and their teams within the GB/GF’s and particularly with Legal, HR, Financial Crime, Regulatory Compliance and Business leaders.
• Develop an excellent understanding of the unique aspects and challenges of each Business Line to enable targeted messaging and service to be provided where required
• Develop a close and supportive relationship with the Head of FCC operations and Reg Compliance Ops including Tax compliance teams focused on delivering service for the regions
• Lead local communications and training initiatives
• 360-degree feedback from key stakeholders.
• Evidence of local communications and training initiatives delivered

Leadership and Teamwork:

• Lead and direct the Global Regulatory Compliance teams in thought, approach and contribution
• Recognize and reward exceptional performance across the global team
• Ensure development plans are in place and are regularly reviewed across all team members
• Cultivate supportive team dynamics and ensure participation through regular team meetings and face to face (even if virtual) interaction.
• 360 feedback from Group and Regional management
• Motivated team with acceptable levels of attrition
• Evidence of plans updated on a periodic basis
• An open and honest culture with staff able to raise issues and challenge management as required

Operational Effectiveness and Control:

• Operating Effectiveness – Implementation of an operating model and global TOM (Target Operating Model) which at the core embed:

  -          Reduced duplication of effort

  -          Single / globally aligned frameworks

  -          Single / globally aligned standards and procedures

  -          Efficient and practical processes o Effective cross channel communication

  -          Simplicity of process and procedure

• Embed appropriate and effective governance across the Group
• Ensure all Group focused costs (including those incurred offshore) are understood and monitored. Drive efforts for cost reduction where inefficiencies can be reduced. Be prudent when proposing cost and resource increases
• An efficient and effective global team with recognition from both Group and regional stakeholders
• Any issues or discrepancies are understood, and appropriate agreements or dispensations are in place
• Evidence of globally focused cost management with a clear understanding of variations or changes

Management of Risk:

• The management of risk will be consistent and in-line with the Bank’s Policies, Standards and Guidelines including all relevant process and procedures and will focus on adhering to the highest global standards.
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, 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 operational risk occurring.
• Also, by addressing any areas of concern in conjunction with line management and/or the appropriate department.
• Maintain awareness of Internal Fraud FIM, Market Conduct FIM, AB&C FIM and minimize the likelihood of aligned risks occurring including its identification, assessment, mitigation and control, loss identification and reporting.

Observation of Internal Controls:

• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Heads of Compliance, Area Compliance Officers or Local Compliance Officers. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will also be achieved liaising with Compliance department about new business initiatives at the earliest opportunity. Also, and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimizing relations with regulators.
• This will also be achieved liaising with Compliance department about new business initiatives at the earliest opportunity. Also, and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimizing relations with regulators.
• All Compliance standards must comply with all relevant legislative, country-specific, industry-related controls, regulations and conventions.

Major Challenges:

• To champion specific global considerations which may not fully align with all regional direction.
• To drive a true sense of urgency, pace and collaboration across the global, regional and local stakeholders to ensure the objectives of Vetting and AB&C are met.
• To work globally, regionally and locally, understanding the differences, while striving for commonality.
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• Good understanding of HSBC Group structures, processes and objectives
• Excellent knowledge of the external environment – regulatory, political, competitors etc.
• Clear and strong understanding of Employee Vetting and the elements involved
• Clear and strong understanding of AB&C and the elements involved
• A good understanding of the Global Businesses/Functions
• Proven experience of managing multiple compliance and risk functions with a developed understanding of various aspects of compliance and risks in the financial services industry.
• Proven experience in managing onshore and offshore teams, risk stewards and senior stakeholders across the group and of driving forward change despite resistance and inertia
• Strong analytical capability
• Proven staff management ability
• Analytical and/or investigative experience
• Fraud risk management experience
• Market Conduct and Market compliance experience
• Financial Crime experience
• Strong relationship management, collaboration and influencing skills
• Strong interpersonal and communication skills with a proven ability to communicate effectively and confidently at all levels across the Group
• High level of drive and motivation to ensure successful delivery of complex initiatives
• Ability to create and manage virtual teams to achieve Employee Vetting and AB&C goals
• Ability to make critical decisions and prioritize work
• Strong organizational, time management and planning skills in order to cope with multiple large-scale responsibilities
• An innovative approach to problem solving
• An emerging leader for the Bank
• Professional qualifications reflective of managing audit, assurance, risk and compliance
• Evidence of self-development across a number of disciplines

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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