Job description
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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 CoE Risk Stewardship Sanctions Head
Business: Risk & Compliance
Role Purpose:
The Financial Crime (FC) Function is a Second line of defence (LOD) function that includes ”Risk Stewards” who are independent of the commercial risk-taking activities undertaken by the Group’s Businesses (also referred to as “the First LOD” or “FLOD”). The FC Function also operates a set of critical controls on behalf of the FLOD by harnessing intelligence, analytics, technology, detection and investigation. The Risk Stewards are responsible for reviewing and challenging all the activities of the FLOD to ensure that, as “Risk Owners”, they effectively manage the FC Inherent risk in, or arising from, the conduct of their activities and for which they are responsible. FC risk is a non-financial risk that includes fraud, money laundering, bribery and corruption, sanctions violations, terrorist financing, proliferation financing, export control violations and tax evasion. The FC function operates in accordance with HSBC Group’s Risk Management Framework (RMF).
The CoE Risk Stewardship Sanctions Head role will report into the Head of Risk Stewardship COE and have the management responsibility for a team of risk professionals supporting Sanctions risk stewardship activities from the COE. The role holder is responsible for identifying, managing and mitigating Sanction risks and supporting teams serviced out of the COE to support compliance with sanctions related laws and regulations and HSBC’s Global Financial Crime Policy, the supporting FC Policy Standards and the Global Sanctions Operating Procedures.
Principal responsibilities
The role is a key risk management role with targeted remit and responsibilities including, but not limited to:
Responsible to deliver the COE Risk Stewardship Sanctions build out strategy, through enhanced capability, consistency and collaboration within the COE.
Overseeing a team who are the experts in providing Sanction advisory support from the COE to group, regions and markets, including maintaining an effective control framework to support compliance with all relevant Sanctions related laws and regulations, internal codes and policies and good market practices.
Provide SME guidance to the COE Sanction teams and driving the team to critically assess sanctions risks and deliver high quality sanction assessments.
Support the Group Head of Sanctions to effectively manage, identify, mitigate and escalate Sanctions risk globally in a proactive and continuous manner.
To deliver and oversee appropriate support from the COE with respect to second line governance of financial crime risk exposure, providing analysis, reporting and governance that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure in the Sanction activities, notably using escalation mechanisms.
Contributing to building a robust financial crime Sanctions risk management culture and strategy through both internal and external governance, strategy and communications, as well as people management and policy adherence.
Provide, oversee and manageSanction advisory services by the COE to the Group, Region and Market teams to support a clear understanding of Sanctions risk exposure with respect to clients, transactions and products.
Support delivery of strategic and tactical initiatives that may be regional or global in nature for effective risk oversight and mitigation of all the countries. Work with the COE / Sanction FC teams to determine thematic issues, weaknesses in country compliance capability and capacity, emerging risks and issues in the business, thematic issues with policy design, implementation and/or interpretation.
The role requires strong partnership with the Group / Regional / Market Sanction teams and the businesses at senior levels, significant stakeholder management, leadership and people management skills. Interfaces with Legal, Audit, Risk and Compliance functions as needed
The role holder is required to represent the financial crime risk agenda through COE ` forums to report on progress and issues in relation to the operational effectiveness of policies, processes, systems and controls in countering sanctions risks.
To exercise risk steward challenge, act as an independent trusted advisory in all activities performed from the COE and during governance forums, issue management, fostering a compliance culture and optimising relations with FC stakeholders / risk owners and control owners.
To stay at the forefront of key regulatory changes, particularly where relevant to Sanctions including proactive communication with business appropriate on policy and framework as required
Responsible for the delivery of end results and contribute to planning, finances, budget and policy development.
Impact on the Business:
Leadership to ensure proactive approach is taken to the identification of any changes in the financial crime risk profile and potential Sanction impacts across LOB.
Support the Advisory teams in providing key SME inputs to all Sanctions programmes/projects/initiatives.
Act as the subject matter expert in relation to Sanctions change and BAU initiatives to ensure compliance with legislation, regulation and Group FC policy / standards relevant to sanctions.
Leadership to drive and support embedding of Sanctions processes in the COE through clearly defined plans across Sanction activities.
Work closely with relevant stakeholders within the region to provide expertise and support on all financial crime related matters.
Appropriately managing, identifying, mitigating and escalating key issues/concerns in a proactive manner to the Global / Regional Head of Sanctions as they arise and/or are overdue and their progress to remediation/closure.
Customer / Stakeholders:
Act as the single point of contact for the Sanction RS COE activities for all Financial Crime related matters.
Provide expertise and support on all FC Sanction related matters.
Support the delivery of Sanctions expertise in FC Risk Stewardship COE through imparting knowledge, building out capabilities and delivery of consistent outcomes.
Ensure that appropriate, timely and relevant risk information is provided to stakeholders and Risk management forums.
Develop and maintain a strong and professional working relationship with relevant stakeholders within Risk and Compliance, Audit and Finance at Business, Group and Regional levels.
Leadership and Teamwork:
Management responsibility for a team of Sanction professionals, including people and performance.
Provide leadership to, and develop, the Financial Crime COE Sanction teams including close collaboration and liaison with Financial Crime leadership at Group, Regional and Market / Entity level
Maintain and develop positive and professional working relationships with senior business leaders, Risk and Compliance colleagues and FC Risk Stewards.
Create an environment for the delivery of consistent performance measurement, training, career management and succession planning across the Sanction teams.
Create an engaged, high performing team by demonstrating inclusive leadership practices, delivering an enhanced employee experience for all employee journeys and proactively building the capability of own team and others.
Foster a learning agile culture, promoting proactive review of lessons learned.
Ensure development activities are a core priority and enable all team members to take reasonable time for learning and developmental activities including taking a hands-on approach to coaching with regular & productive use of Personal Development Plans and appropriate follow up.
Cultivate an inclusive environment that supports diversity and reflects the HSBC brand. Ensures effective and open communication, team building, knowledge sharing, coaching and mentoring not only within the function but to the broader organisation.
Operational Effectiveness and Control:
Focus on aligning the HSBC operating practices with changes in Global FC Standards and regulatory risk, and ensure that the FC Risk Framework remains appropriate.
Resolve any/all identified issues promptly, and escalate concerns to management as appropriate to ensure timely awareness of any material concerns.
Ensure similar relevant operating practices and standards as followed by FC teams in group , egion and market is followed in the Risk Steward CoE so they can ensure the ongoing effective provision of services across Financial Crime.
Maintain and observe all HSBC control standards and implement and observe the Group FC Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators.
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.
Leadership over all FC compliance matters and the management of operational risk.
Management of 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 the region 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.
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 incumbent should ensure the consistent application of the highest risk management standards, notwithstanding the complexities of business operations across regions. The incumbent would identify, plan and implement change programs to ensure that HSBC remains in line with regulatory requirements across the Group.
This role also needs to operate within a matrix environment, requiring strong leadership skills to collaborate with multiple stakeholders and deliver results. The role holder must be able to influence senior management and articulate clear business reasons for change initiatives, within the scope of this role.
To drive change in culture with respect to the management of Financial Crime Risk, in accordance with the three lines of Defence model. To manage the inter-linked and competing demands of developing, implementing and improving strategic Financial Crime systems and controls on a Group wide basis, while also providing for adequate commercial view and balance.
Requirements
Significant financial crime experience as a senior financial crime manager that must include Sanctions compliance experience within a global firm, in the financial services industry.
Extensive knowledge of Sanctions regulations and guidance, and a proven track record in managing a sanctions programme across multiple countries and business lines.
Significant knowledge of a financial crime risk Sanctions framework and experience in its execution, together with knowledge of CIB/ IWPB business and products.
Proficient knowledge across all Financial Crime risks in the financial services industry including a background or deep understanding of operational risk.
Strong understanding of how controls mitigates FC Risk and the various underpinning activities forming the overall Risk Management framework
Successful track record in strategic leadership and influencing is essential, in particular the application of this skill in areas outside their direct span of control.
Track record of resilience and confident challenge when dealing with senior stakeholders to influence change without direct responsibility for resources or budget.
Experience of creating, leading and motivating a team.
Experience of working within a matrixed environment preferred.
Leadership experience and an experienced strategic thinker.
Excellent communication and inter-personal skills, with experience of dealing with executives at all levels.
Skills:
Role model leadership, communication and influencing skills, with experience of dealing with senior managers including the capacity to articulate the case for risk management in the language of business
Ability to develop practical, cost-effective solutions to what are often complex global issues
Ability to lead change, coordinating with other teams globally
Ability to interpret and analyse a large volume of information and / or data and provide succinct summary for senior management
Ability to prioritise conflicting demands and problem solve in a dynamic environment
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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