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About Global Functions

HSBC’s Global Functions play a vital role in supporting the bank’s Global Businesses and offer a broad range of career opportunities in areas from Legal, Risk and Finance to Human Resources, Sustainability and Communications. Our operational and functional teams around the world help HSBC’s Global Businesses to operate efficiently and effectively on a day-to-day basis. They also focus on controls and governance to reduce risk and protect the Group’s reputations.

Global Risk is a thriving and expert risk management function supporting HSBC globally with all aspects of risk management. The team actively manages a varied and dynamic range of risk types, including security, fraud, information security, operational, credit, pension, insurance, compliance, regulatory, market, reputation and geopolitical risks.

About the role:

As a federally regulated financial institution, HSBC Bank Canada and its subsidiaries (“HBCA”) have a regulatory obligation to establish and maintain an effective framework to manage the risk of non-compliance with regulatory requirements inherent in our business activities enterprise-wide, in accordance with the Office of the Superintendent of Financial Institutions Guideline E-13 Regulatory Compliance Management. A Regulatory Compliance Management Framework (“RCM Framework”) has been established to effectively manage the risk of non-compliance with regulatory requirements inherent in HBCA’s business activities.

One of the key components of the RCM Framework is the maintenance of a current enterprise-wide comprehensive inventory of regulatory obligations, mapped to HBCA business activities and the HSBC Enterprise Risk Management Framework, supported by process and procedures to maintain and manage regulatory change. The Regulatory Affairs team within Compliance is charged under the RCM Framework with maintaining the inventory of regulatory requirements that are applicable to HBCA (Regulatory Inventory and Mapping process), and processes and procedures to monitor for and respond to changes to that inventory (Regulatory Development process). Regulatory Affairs is also responsible for ensuring that there are “no surprises” in relation to dealings with HBCA’s regulators and that there is proactive and consistent management and oversight of regulator relationships globally/regionally/in country (Regulatory Engagement process).

Reporting to the Head of Regulatory Affairs and supporting the Lead of the area, the Regulatory Affairs Manager – GCB5 position is a risk management role that has a remit and responsibilities, which include and are not limited to:

Regulatory Inventory and Mapping: maintenance of an up to date library of laws applicable to HBCA, summarized in plain language and mapped to HBCA’s Risk Taxonomy and the appropriate Risk Steward and Risk Owner.
Regulatory Developments: identification and oversight of upcoming and in-flight material regulatory compliance developments, supporting the Group and HBCA to become aware of and implement regulatory change in a timely manner; and
Regulatory Engagement: delivering proactive and consistent management and oversight of regulator relationships globally/regionally/in country

Regulatory Inventory and Mapping (RIM)

Canada, like any Region, faces a constantly evolving regulatory landscape. Management of our regulatory requirements, however, have an added layer of complexity and risk due to the fact that HBCA is subject to a complex web of federal and provincial laws which evolve continuously. In addition, HBCA is supervised by and subject to guidance from multiple federal and provincial regulators with mandates that sometimes overlap and even conflict. Added to this, HBCA is also impacted by the expectations and agenda of HSBC's Home regulator in the UK as well as foreign legislation with cross-border impact in Canada.

This position will support the Bank’s Global Functions, Global Businesses and HOST in navigating this complex landscape in line with HSBC Values, Global Conduct Outcomes and Group Compliance policies. In summary, this position requires the ability to quickly understand and interpret the complex Canadian regulatory landscape and a working understanding of HSBC’s Host Regulator and the Financial and Non-Financial Risks arising from HBCA’s activities across all Global Functions, Global Businesses and HOST.

Responsibilities:

Summarize Complex new or amended Canadian Legislation
Develop a detailed understanding of HSBC’s Risk Management Framework and Risk Taxonomy.
Review complex new or amended Canadian legislation applicable to HSBC in Canada.
Determine which portions of the new or amended legislation relate to which risks in the HSBC Risk Taxonomy.
Group together those sections of the new or amended legislation that relate to individual risks in the Risk Taxonomy (Taxonomy Grouping).
Create high quality plain language summaries of the new or amended Canadian legislation for each Taxonomy Grouping of legislative sections in the new or amended legislation.
Use Group Systems of Record, Excel and Sharepoint to track the progress of work and to generate metrics.
Horizon scanning for new or changing laws applicable to HBCA, including review of work being performed at a Global Service Center, and maintenance of the Global System of record for regulatory change, RAPid2
Identify the relevant Risk Stewardship areas for each Regulatory Development and ensure the effective hand-off to the Risk Stewards within HBCA to enable them to provide 2nd LoD oversight of implementation of regulatory change.
Provide oversight of the end-to-end Regulatory Development process, as recorded in RAPid2.
Ensure production and delivery of appropriate Management Information and reporting from RAPid2 is provided to key stakeholders as it relates to the risk of ineffective response to regulatory change.
Support the ongoing enhancements of the RAPId2 system and associated reporting, including end user testing and issue identification.
Support management of the relationship and engagement with the Group and HBCA’s Regulators (e.g. PRA, FCA, OSFI, FCAC and other regulators as relevant) on all matters relevant to HBCA.
Support the team to ensure that the respective Regulators’ agendas and requirements are understood, communicated and met, with the intention of there being “no surprises” in the Group or HBCA’s engagement.
Support relevant senior management in material engagements with the Group and HBCA’s Regulators; including preparation of Briefing Notes and attendance at meetings as and when required.
Support senior managers to prepare for engagement with Regulators, working with relevant RC colleagues, Global Businesses, Global Functions and Business Digital Services, as required.
Monitor regulatory engagement trends for regulators and provide updates, reporting and guidance as appropriate / required.
The Regulatory Affairs Manager – GCB5 position is expected to support delivery of the Regulatory Affairs sub-function’s activities and seeks to support the RIM team primarily and secondarily all parts of the sub-function to:
Operate in accordance with agreed KPIs and to the requirements of the Compliance Operating Model.
Proactively deliver upon the sub-function’s activities to continue to help the Compliance Function navigate the regulatory landscape as that landscape evolves.
Support relevant parts of the Compliance function, including by regular communications and reporting and work in a collaborative way with all stakeholders.
This role will support the following three areas, with particular focus to be determined:
Regulatory Inventory and Mapping team
Regulatory Developments team and
Regulatory Engagements team
all as described above.
The management of Compliance risk is an integral part of the role profile of The Regulatory Affairs Manager – GCB5

The Regulatory Affairs Manager – GCB5 will support to regularly reassess the operational risks inherent in the Regulatory Affairs sub-function and its activities, 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 and addressing any areas of concern in conjunction with line management and/or the appropriate department.

Regulatory Affairs and Policy