HSBC Group

Open positions: 1

Global Career Band: 5IC

Why join us? 

COMPLIANCE

The Risk & Compliance function is a Second line of defence (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 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 Risk & Compliance function is a Risk Steward for a number of risks in accordance with HSBC Group’s risk framework.

The Opportunity:  

The Manager Regulatory Compliance Asset Management, is a key staff member and risk management role responsible for ensuring that HSBC Asset Management (AM)’s operations in Hong Kong and ASP are effective in identifying, managing and mitigating regulatory compliance risks and ensure timely advice is provided to the business.    

What you’ll do:     

The responsibilities of the Manager Regulatory Compliance Asset Management ASP are to:

• Support to provide advisory services and support to AM Hong Kong and ASP business to comply with applicable regulations and internal policies and procedures, as required. 
• Partner with regulatory change and other regulatory subject matter experts (SMEs) to understand new and revised regulatory requirements, including codes and guidelins, ensuring any changes and impact is disseminated to the appropriate Business stakeholders.
• Ensure the provision of quality, timely and accurate guidance on established internal guidelines and external regulations.
• Ensure AM Hong Kong and ASP business develops and maintains the highest regulatory compliance standards by assisting the implementation of relevant global and regional regulatory compliance policies and procedures. 
• Work with Business and other Risk Stewards on business related projects / initiatives, to assess potential regulatory compliance impacts and ensure that any new products / services are aligned to HSBC standards and meet all the necessary regulatory compliance requirements and ensure tht the business is conducted in accordance with all applicable laws, rules, reuglations and internal policies. 
• Support second LOD governance of regulatory compliance risk exposure, providing analysis, reporting and governance to Business and Compliance senior management independent of the First LOD thereby maintaining an objective assessment of risk exposure.
• Support to provide risk steward challenge and act as independent trusted advisory function in governance forums and issue management process, fostering a compliance culture and optimizing relations with risk owners and control owners.
• Support to provide oversight on regional regulatory compliance risk profiles, work with AM ASP Compliance teams to ensure timely identification, assessment, reporting and mitigation of regulatory compliance related risks/issues and regulatory changes.
• Support to provide regulatory compliance support to regional and global business projects as well as group-wide regulatory compliance projects. 
• Work with internal business and group-wide compliance stakeholders at local, regional and global levels.

Principal Accountabilities: key activities and decision making areas

• The following principal accountabilities are aligned to the Compliance Services and Processes Model. Additional detail is available in the Model. 

Impact on the Business

• Provide advice and support on regulatory compliance risks to senior management and other colleagues.
• Serve as a point of contact for the AM HK business in relation to regulatory compliance matters pertaining to established internal guidelines and external regulations, including interaction and support to AM business.
• Oversee the critical regulatory compliance policies and systems that impact AM HK and ensure that the AM’s exposure to regulatory compliance risks is managed in a commercially sensitive, practical and cost-effective manner.
• Actively review business processes and supporting systems and controls within the Business and drive through amendments, as required.
• Support to provide clear, concise, consistent and constructive advice to the Business.
• Support Head of Regulatory Compliance Asset Management ASP in demonstrating proactive compliance risk stewardship.

Customer / Stakeholders

• Report to Head of Regulatory Compliance Asset Management ASP on regulatory compliance risk related matters. 
• Ensure that senior management are appropriately advised of regulatory compliance risk related matters relating to AM HK.  
• Ensure that positive relationships are maintained with other external stakeholders relevant to the Regulatory Compliance agenda.
• Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.

Leadership and Teamwork

• Support Head of Regulatory Compliance Asset Management ASP to develop the Regulatory Compliance Function for AM HK and ASP.
• Work collaboratively and ensure open communication with business partners at all times.
• Foster strong and professional relationships with senior management within AM Business and Compliance colleagues in HK and ASP.
• Demonstrate core behaviours and values including teamwork, focus, drive and determination. 

Operational Effectiveness and Control

• To assist Business in its responsibility for complying with all relevant regulations, including the provision of advice on regulatory compliance issues. 
• Keep management informed of regulatory changes and assess the impact on relevant business activities. 
• Agree and oversee the implementation, embedding and monitoring of the adherence to the Compliance Functional Instruction Manual (FIM) of AM HK. 

Management of Risk

• 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.  The jobholder should consistently display behaviours that form part of the HSBC Values and Culture and adhere to HSBC risk policies and procedures. 

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.
• The term “compliance” or “regulatory compliance” embraces all relevant financial services, laws, rules and codes which the business has to comply.  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 also implement measures to contain regulatory compliance risk across the business area and ensure adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

What you will need to succeed in the role:       

Local Job Requirements

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.   
• The jobholder is required to ensure the consistent application of the highest risk management standards notwithstanding the complexities of products and business operations in AM.  The role holder will need to identify, plan and implement change programs to ensure that AM remains in line with regulatory requirements.

Certifications, Qualifications and Experience

• A degree holder with extensive compliance advisory experience in the the Financial Serivces Industry / Asset Management business.
• Knowledge of SFC rules applicable to asset management business and ability to interpret and assess regulations and their impacts.
• Practical knowledge and experience in relation to asset management business and a strong ability to analyse, understand and provide timely compliance advice to the business.
• Knowledge and understanding of regulatory compliance function activities.
• Experience of dealing with regulatory matters and confident interaction with Regulators
• Excellent communication, report writing and inter-personal skills, with experience of dealing with executives at all levels.
• Confidence to interact with and influence senior management and peers. 
• Ability to develop practical, cost effective solutions to complex global issues.
• Willingness and ability to adapt and take on ad hoc tasks, as and when required.
• Experience of working within a matrixed environment preferred.
• Self-motivation with growth mindset and flexibility to deliver effective outcome.
• Active in driving innovation and process streamline.
• Proven rapid learning capability in a changing environment and consistently demonstrate collaborative attitude to achieve shared/ team-based objective.

Please refer the Candidate User Guide in the below link to understand your own journey as a candidate.

https://hsbchrdirect.service-now.com/esc?id=kb_article&table=kb_knowledge&sysparm_article=KB0184596&sys_kb_id=712b5f041b1f82908d3a0fe7ec4bcbd6

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.

Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

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(* The information contained in this job description is a true and accurate reflection of the job as specified.)