HSBC Group

Open positions: 1

Global Career Band: 4PM

Why join us? 

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 Senior Regulatory Compliance Manager, WPB ASP is the senior accountable executive responsible for ensuring that HSBC’s operations in ASP and HK are effective in identifying, managing and mitigating Regulatory Compliance risks and ensure timely advice is provided to the business.            

What you’ll do:     

• Primarily to support the Head of Regulatory Compliance, Wealth, PB, and Broking Services HK to maintain an effective control framework and to ensure compliance with all relevant external laws & regulations, internal codes and policies and good market practices. 
• Articulate the Regulatory Compliance risks for ASP and HK WPB.
• Provide advisory services to ASP and HK WPB business in order to ensure clear understanding of regulatory compliance risk exposure with respect to clients, transactions and products. The role is expected to be SME in specific regulatory compliance areas, including but not limited to sales and suitability, product compliance, credit and cross border initiatives for ASP and HK WPB.
• Manage the relationship with relevant regulators on behalf of ASP and HK WPB.
• Be responsible for second line governance of Regulatory Compliance risks exposures, providing analysis, reporting and governance to ASP and HK that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure.
• To exercise risk steward challenge, act as independent trusted advisory in governance forums, issue management, fostering a compliance culture and optimizing relations with risk owners and control owners.
• Assist the senior management of ASP and HK, the leadership of the Compliance function, and other colleagues on all material regulatory compliance related matters. 
• Represents the Risk & Compliance agenda up to the highest levels of the Group’s governance, including being an attendee (as required) at the ASP and HK Board (and related sub-committees) to report on progress and issues in relation to the operational effectiveness of HSBC’s policies, processes, systems and controls in countering Regulatory Compliance risks.
• Act as a team lead to manage the junior staff supporting ASP WPB and HK CMP in GSC China, including by not limit to providing guidance and technical support to staff, ensuring staff development needs are taken care, improving the operating and engagement model with ASP and HK Compliance leaders. 

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
• Oversee the critical Compliance policies and systems that impact ASP and HK, and ensure that the Group’s exposure to Regulatory Compliance risks is managed in a commercially sensitive, practical and cost effective manner.
• Provide advice and support on Regulatory Compliance risks to senior management, Compliance and other colleagues.
• Membership of relevant regulatory compliance related executive committees/forums/governance meetings. 

Customer / Stakeholders

• Reporting to Head of Regulatory Compliance, Wealth, PB, and Broking Services HK as relevant on Regulatory Compliance risks matters. 
• Ensure that senior management are appropriately advised of all material regulatory compliance related matters relating to ASP and HK.
• Manage and foster a strong relationship with all relevant regulators in relation to the activities of ASP and HK, and ensure timely disclosure of relevant information, in relation to Regulatory Compliance related matters.
• Ensure that positive relationships are maintained with other external stakeholders relevant to the regulatory compliance agenda. 

Operational Effectiveness and Control

• Create a framework for the effective risk-based monitoring of the implementation of Regulatory Compliance risks related policies and controls across ASP and HK.
• Agree and oversee the implementation, embedding and monitoring of the adherence to the Compliance FIM in ASP and HK.
• Monitor and assess the resourcing, costs and spend of the ASP and HK regulatory compliance offshore team. 

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.
• Observation of Internal Controls
• 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 that internal control environment against those policies.

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.  
• It is the role of the Senior Regulatory Compliance Manager, WPB ASP, as a key senior member of the Risk & Compliance function to assist the Group in achieving a balance between the demands of regulators, external bodies and governmental initiatives and the Group’s shareholders and customers in enacting compliance; being alive to the political, management, regulatory and reputational implications of a particular decision and courses of action; assisting executive management in the development of controls and systems and influencing the way in which the business is conducted in order to manage these risks, meeting Group risk appetite.  The increased focus on individual liability for senior managers, particularly risk heads, makes it increasingly important for the Group to be able to evidence adequate systems and controls.  The role is one where regulatory authorities have high expectations and is likely to come under scrutiny as part of any major regulatory investigation.

What you will need to succeed in the role:       

• Significant experience as a regulator, or a senior compliance manager across all areas of Regulatory Compliance risk within a global firm, in the financial services industry. 
• Detailed and extensive knowledge of the HSBC Group structure, its business and personnel, and HSBC’s corporate culture.
• Thorough understanding of WPB business with practical knowledge of broad range of WPB products and services.
• Excellent communication and inter-personal skills, with experience of dealing with executives at all levels.
• Ability to develop practical, cost effective solutions to complex issues.
• A legal or formal accountancy qualification or professional background in a relevant risk or audit discipline.
• Effective leadership experience and proven ability to manage conflicts.

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.

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