HSBC Group

Why join us?

The Group’s regulators require the Compliance function to assess the adequacy of the firm’s controls, processes, procedures and resulting outcomes to manage risk. This responsibility is met by the Compliance Assurance (CA) sub-function.

Compliance Assurance are responsible for determining the effectiveness of the Group’s financial crime and regulatory controls, independent of Control Owners (who are responsible for day-to-day monitoring). Compliance Assurance covers all Financial Crime (FC) and Regulatory Compliance (RC) across all businesses, functions and geographies of the Group. The division assesses, on an end-to-end basis where possible, the effectiveness of prioritised FC and RC controls embedded in the first line of defence and those operated by the second line on their behalf, and represents an integrated part of the function in discharging its assurance responsibilities.

The role will be responsible for delivering assessments of assigned controls, in accordance with Group-wide  Assurance procedures and the Compliance Assurance assessment plan.

The Opportunity:

The role holder will be required to support the onshore Compliance Assurance management team in leading a team to assess the effectiveness of assigned financial crime controls, identifying and raising issues where gaps lead to material unaddressed compliance risks.

At a high level, the role holder will be responsible for the following:

• Lead an assessment team of Assistant Vice Presidents (AVPs) (where applicable), as they review risks and controls, raising issues as appropriate.
• Ensure that assigned risk and control assessments are accurate, effective, abide by Compliance Assurance procedures and templates, and meet quality control requirements.
• Supervise the delivery of assigned risk and control assessments, using experience and knowledge to intervene and redirect testing as required, resolving or redirecting escalations as required.
• Ensure that assigned risk and control assessments are delivered on time, in accordance with the Compliance Assurance assessment plan.
• Manage control owners and other stakeholders, ensuring the success of individual reviews, minimising contention where possible and requesting support where deemed necessary.
• Manage the documentation of distinct control types, covering key aspects, such as remit, main processes and handovers to other teams.
• Support the Onshore management team in fulfilling responsibilities as required, including budget management, resourcing and feeding into the development of procedures and templates.
• Ensure that issue owners complete sufficient root cause analysis for all material issues and have appropriate remediation plans in place.
• Lead, develop and motivate the assessment team to attract, retain and develop talent, ensuring the successful delivery of assigned control assessments.
• Support the Onshore management team in fulfilling responsibilities as required, including budget management, resourcing and feeding into the development of procedures and templates.

What you’ll do:

Principal Accountabilities: Key activities and decision making areas:

Impact on the Business:

• Play a lead role in executing the Compliance Assurance assessment plan, ensuring the accurate, efficient and timely completion of independent FC and/or RC control assessments.
• Oversee (where applicable) the quality of work delivered by testing teams and ensure compliance with global template, procedure and quality requirements.
• Understand and document the remit, process composition and team handovers of relevant controls.
• Proactively monitor FC and RC risks to identify key emerging trends and themes to inform the Compliance Assurance assessment plan and the continuous development of CA methodology and procedures.
• Evaluate and manage the allocation of resources on an ongoing basis to ensure completion of assigned risk and control assessments.

Customers / Stakeholders:

• Build strong relationships with all internal stakeholders, adopting a joined-up approach to the execution of tasks with minimum conflict, while ensuring the independence of Compliance Assurance.
• Develop and maintain positive and professional relationships with key external stakeholders, where required.
• Ensure that executive and senior management in the business, functions and Compliance are advised of matters arising, and emerging trends, from assurance reviews and analysis.
• Provide stakeholders with insight into Compliance Assurance activities.
• Liaise with Internal Audit to ensure that assurance activities and plans take full consideration of and inform audit activity.

Leadership & Teamwork:

• Lead, develop and motivate the team to attract, retain and develop talent, ensuring delivery of business objectives.
• Lead on a portfolio of assessments, taking responsibility for their successful delivery.
• Operate to a high standard, in alignment with HSBC Values, leading by personal behaviour and through your interaction with others.
• Drive a high performance culture across the team through effective leadership, engagement and collaboration.
• Ensure effective communication across CA, delivering key messages and strategic updates as appropriate.

Operating Effectiveness & Control:

• Contribute to the development of Compliance Assurance procedures and templates, ensuring high operating standards within the division.
• Drive high operational standards within the team and avoid high risk findings from Internal Audit or other internal/external Assurance teams.
• Be innovative in executing all responsibilities and providing solutions to complex issues in a dynamic, high-risk environment.

What you will need to succeed in the role:

• Experience in financial services compliance, testing, audit and/or legal management experience or equivalent.
• Excellent understanding of financial crime and/or regulatory compliance and/or the aptitude to develop this understanding in good time, and must be familiar regarding relevant regional laws, regulations and the overall regulatory environment.
• Experienced people manager, with excellent communication skills, a polished management style, and a proven track record of leading through change.
• Proven ability to question, evaluate, and improve existing business processes and adequacy of information.
• Experience working with local and regional stakeholders and an understanding of global standards of quality.
• Minimum Bachelor’s degree in related field such as business, finance, law or equivalent experience; Master’s degree preferred.
• Requires understanding of the changing regulatory landscape regarding compliance functions within the banking industry.
• Broad knowledge of banking and a good understanding of all significant regulatory compliance requirements applicable to a CoE.
• Experience developing assurance automation and analytics tools preferred.
• Fluent in both oral and written English.
• Proficient with Microsoft Office.

What additional skills will be good to have?

Major Challenges:

• Achieve a balance between the demands of the regulators, external bodies and governmental initiatives and the Group’s shareholders and customers, having taken into account the complexity of financial services regulation and the diversity of business and geographies within the Group as a whole.
• Determine innovate ways of testing controls in a precise and efficient manner, harnessing analysis of data where possible.
• Be attuned to the political, management, operational, regulatory and reputational implications of particular decisions and courses of action. Managing the demands of the multiple and diverse aspects of the role.
• Assist management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks. 

Role Context:

• The job holder will be required to lead on a portfolio of risk and control assessments, potentially covering all business lines, functions and geographies.
• The job holder will support the onshore regional management team in ensuring that the Compliance Assurance assessment plan is executed as assigned, meeting HSBC risk management requirements and regulatory expectations, providing risk stewards, control owners and senior management with up to date information regarding standards of compliance with financial crime and regulatory compliance rules within the organisation.
• The role holder is required to work with considerable autonomy, dealing with issues for which there is no obvious solution while still being able to provide judgment and clear direction.
• The role holder is responsible for ensuring that the assurance standards in the division are in accordance with the Compliance Assurance guidance, Group Standards Manual and Functional Instruction Manual (FIM).

Management of Risk:

• Be aware of the operational risk, primarily through identification and management of financial crime and regulatory compliance risk associated with business activities.
• The role holder will also be required to continually reassess the operational risks associated with the division, taking into account changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• The role holder is responsible for ensuring that the assessment team operate in accordance with Compliance Assurance standards.

Observation of Internal Controls:

• Maintains HSBC internal control standards, including timely implementation of internal and external audit actions together with any issues raised by external regulators.
• To assist in the discharge of accountabilities set out in the Financial Crime and Regulatory Compliance Risk FIM by proactively assisting Risk Stewards and Control Owners in their responsibilities.