HSBC Group

Business: FC CoE Risk Stewardship

Open positions: 1

Role Title: Assistant Vice President, Financial Crime Risk Strategy & Framework- CoE GSC’s

Global Career Band: 5

Location (Country / City ): Hyderabad

Recruiter Name :  Geetika Gupta

The Opportunity:

• Financial Crime (FC) function is part of the Second Line of Defense (SLOD) activity that includes” Risk Stewards” who are independent of the commercial risk-taking activities undertaken by the Group’s businesses (also referred to as “First Line of Defense” or “FLOD”). The Risk Stewards are responsible for providing subject matter expertise, advise, guidance and effective challenge to the FLOD to ensure that, as Risk and Control owners, they effectively manage the FC risks for which they are responsible. FC risk is a non-financial risk that includes ‘Fraud’, ‘Money Laundering, Terrorist Financing, Proliferation Financing’, ‘Bribery and Corruption’, ‘Sanctions or Export Controls Breaches’, and ‘Tax Evasion’. The FC function operates in accordance with HSBC Group’s Risk Management Framework (RMF).
• The Job holder supports the Regional Risk Strategy & Framework team in the ongoing oversight of the Financial Crime Compliance (FCC) Risk in the region, through effective monitoring, assessment and analysis of AML, Sanctions, fraud, Tax and AB&C (hereinafter referred to as FCC) risk factors and issues at regional and country levels, and appropriate reporting of the region’s risk profile to the relevant risk management forums and stakeholders.

Role Overview

• Requires close working relationship with all stakeholders at various levels of Global, Region, Markets, Lines of Business and Functions
• Support in implementing Group and Regional FC strategies and frameworks across the MENAT region.
• Possesses good knowledge on banking regulations, operations, audit, and risk & control concepts in order to manage and execute the FC functions in line with Global FC policy and RMF.
• Highly organized and exhibit the ability to act independently and exercise discretion with minimal guidance and supervision.
• Implement Risk strategy, identifying weaknesses that pose significant impacts on businesses in meeting their strategic objectives.
• Possesses knowledge of Risk Strategy and Operational risk concepts.
• Implements and contributes to the plan established by the relevant Senior Management.
• Able to act in an organized and timely manner.

Governance and Committee Memberships

• Participate and / or represent FC Risk Strategy & Framework team at any relevant FC / Non-Financial Risk (NFR) forums hosted by SLOD as appropriate.

What you’ll do:

Principal Accountabilities: key activities and decision making areas

• Provide support in managing FC risks by providing oversight and direction of the business controls as described in the Global Line of Business procedures and HSBC Global Policies and Procedures.
• Engage with FLOD and SLOD to ensure transparency relating to risks and control assessments, ongoing control remediation plans and trigger events oversight for both internal and external events.
• The role requires strong partnership at a regional and country level working across the entire FC structure as well as with the lines of business and functions including DBS where applicable.
• Maintain oversight over regional risk maps/ top risks, KCIs/ KRIs, RAS metrics and key emerging risks.
• Preparation, review, challenge and consolidation of accurate data, reports, and preparation of relevant papers for key executive meetings/forums.
• Providing support on Operational Effectiveness (OE) and Enterprise-Wide Risk Assessment (EWRA) and Risk and Control Assessment (RCA) while presenting and evaluating the risks and controls identified through OE and EWRA.
• Support in developing and maintaining the risk steward view of the effectiveness of the financial crime risk framework and ensure that this view is communicated consistently to relevant risk governance meetings.
• Support Senior Management with the analysis of country and regional audit and assurance reports and ensure all identified issues have the appropriate action plans and the responsible owners are executing to plan to meet the completion deadline on time.

Typical Targets and Measures

• Group FC plans in place across the FC function to agreed timescales.
• Schedule of EWRA reviews agreed and delivered to agreed timescales, with necessary change implemented.
• Any significant compliance issues reported appropriately and in a timely manner.
• Review standard audit reports, compliance reviews and reports and take the appropriate action regarding any significant compliance or reputational exceptions.
• Provides effective advice and support to stakeholders.
• Receives consistent positive internal stakeholder feedback.
• Delivers quality reporting to management by the established deadlines.

Impact on the Business/Function across the region

• Develop and implement best practice standards, and procedures to govern the execution of oversight and reporting.
• Proactive approach to the identification of FC risk change and potential impacts with insightful analysis and prioritization of relevant information.
• Provide effective and timely support to the EWRA exercise for the Region and relevant Markets, by proactive collaboration, timely advise and assistance in aligning the risk ratings and FC risk framework to ensure quality output.
• Support the Senior Management by providing regular/ad-hoc briefings on various FC topics pertinent to the LOB.
• Analyse emerging issues and risks and identify appropriate FC related trends.
• Represent FC in relevant governance forums and attend if required internal and regulatory audits and inspections relevant to the business covered.

Typical Targets and Measures

• Applicable standards, policies and procedures developed and implementation approach established.
• Ensure that standards, policies and procedures are being designed to meet regulatory needs and plans are in place to ensure they are clearly understood by stakeholders.
• Reporting and drafting of papers meets high standards of quality and timeliness.
• Appropriate and streamlined process is in place for identify/filtering/reporting financial crime risk.
• Clear metrics are presented to senior executives with clear analysis relevant to LOB (‘so what’).
• New group and business strategies have clear representation and input from LOB FC.

Leadership & Teamwork

• Support in developing and communicating a powerful and compelling vision that inspires and engages people with the HSBC values and goals as the basis of an inclusive, high performance, customer-centered culture.
• Oversees and Contributes in the execution of the strategy, standards, analysis and reporting.
• Drive and encourage constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and taking prompt action to address any activities and behaviors that are not consistent with HSBC's diversity policy and/or the best interests of the business and its customers.
• Work effectively as part of a team, taking the lead where appropriate and contributing to team output and collaboration through communication, initiative / being pro-active, cooperation, ownership and identification of improvements.

Typical Targets and Measures

• Update the Regional Senior Management on the changing dynamics of FC risks regularly.
• Strategies and policies to be developed and communicated clearly and in a timely manner. 
• Close working relationship maintained with the Regional Head of Risk Strategy & Framework
• Communicates effectively and professionally, and conveys the key information needed to ensure compliance goals are met (as assessed by supervisor).
• Coordinates with teammates to understand status and ensure timely completion of deliverables.

Operational Effectiveness & Control

• Support to drive the continuing development or transformation of the Financial Crime operating model to ensure the business operates increasingly effectively and efficiently and is able to deliver HSBC's strategic goals.
• Support to establish and maintain a robust and efficient control environment across Financial Crime to ensure good operational, financial and project management and compliance with HSBC policy and procedures, together with early identification and effective resolution of issues that arise.
• Support to lead the development, implementation and maintenance of a Regional and designated Markets management information, analysis and reporting framework that supports and informs timely and effective business management and decision making at all levels.
• Support with embedding of Global FC Policy and governance frameworks across Financial Crime function to ensure quality, effective risk management and regulatory adherence.
• Proactively identify, manage and mitigate control and process failures and, work with first line of defense to introduce remediation plans.
• Maintain awareness of operational risk within assigned portfolio and minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting.

Management Risk

• The management of financial crime risks is an integral part of the role profile. This role will continually reassess the operational risks inherent in FC by 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 financial crime risk occurring and by addressing any areas of concern in conjunction with line management and / or the appropriate department.
• Any concerns must be escalated through line management as soon as they become apparent.

Observations 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.
• 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 the internal control environment against those policies.
• The nature of the role requires close working contact with Global, Region, Markets, Senior Executives in FC, Lines of Business and Products and other functional areas such as DBS /IT / Legal etc.

Major Challenges

• The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defense’. The jobholder should ensure they understand their position within the Three Lines of Defense, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required.
• Through the implementation the Global FC Policy, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite. Continuously reassessing 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.

Role Dimensions

• The job holder will be an individual contributor reporting to VP FC CoE Risk Stewardship and supporting MENAT FC Regional Head of Risk Strategy & Framework

What you will need to succeed in the role:

Functional Knowledge

• The jobholder must have an overall work experience of 8-10 years in the banking / financial services industry
• 4-5 years’ experience in Financial Crime Risk or Business Risk functions.
• Strong understanding of how FC controls mitigates FC Risk and the various underpinning activities forming the overall Risk Management framework.
• Working knowledge of the Global Non-Financial Risk (NFR) Framework and Technical User Guides (TUG) – Preferred
• Working knowledge of the line of business / function supported, as well as pertinent compliance risk policies and regulations.
• Interpersonal Skills (i.e., collaboration and networking) with experience of dealing with stakeholders including the capacity to articulate the case for risk management.
• Excellent communication skill (oral, written, and presentational) with the ability to influence others through use of compelling facts, thought-provoking discussion and logic and use diplomacy and tact to resolve differing views.
• Experience of interpreting and analyzing a large volume of information and / or data and provide succinct summary for management. 
• Understanding of Compliance systems and HELIOS is preferred, good command of Excel and Power Point.
• Ability to lead change, contributing to joining up with the other teams in Risk and Compliance and Business globally.
• Ability to work independently on distinct tasks, escalating as appropriate and able to "connect the dots" and critically analyze situations, recommend effective solutions to problems, and identify or anticipate regulatory concerns.
• Strong critical thinking and analytical skills. Ability to make informed risk-based decisions with robust supporting rationale.
• Effective Time management & prioritization skills with an ability to prioritize competing demands and deliver against stringent deadlines.
• Knowledge in MS Office Suite, MS PowerPoint & Excel is mandatory. VBA / Macros knowledge will be added advantage.
• ACAMS or International Compliance Association (ICA) certificate/diploma, or equivalent qualifications (Preferred)

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You’ll achieve more at HSBC

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