Regulatory Reporting - Standards and Control Manager (UAE Nationals)

at  HSBC

Job description

REGULATORY REPORTING – STANDARDS AND CONTROL MANAGER (UAE NATIONAL)

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Global Risk is a thriving and expert risk management function supporting HSBC globally with all aspects of risk management. The team actively manages a varied and dynamic range of risk types, including security, fraud, information security, contingency, geopolitical, operational, credit, pension, insurance, financial crime and regulatory compliance, market and reputation risks. All parts of the Global Risk team use their skills, insight and integrity to handle established threats and those they see emerging, acting to protect and enable HSBC to deliver sustainable growth.

IN THIS ROLE, YOU WILL:

• Lead the embedding of regulatory reporting process framework in the UAE by:
• Driving Regulatory Reporting strategic deliverables in UAE
• Coordinating and delivery of the end-to-end regulatory reporting process
• Maintaining oversight of the regulatory reporting inventory in the UAE.
• Leading on creating playbooks and overseeing the delivery of multiple material UAE regulatory deliverables (ESR, RBS, EWRA, BRF, etc..) that require bank-wide coordination.
• Acting as the single point of contact and SME for specific regulatory reporting requirements, operating as a horizontal layer across all lines of business and bank functions
• Leading transformation and driving effective changes through UAE regulatory reporting and notification process and inventory
• Embedding regulatory reporting related policies, procedures and target operating model in UAE regulatory reports
• Leading on Magnus governance activities in UAE regulatory reports
• Engaging with 2LOD functions to scope and manage new reporting requirements

This includes creating and overseeing an end-to-end reporting process across Lines of Business and functions that is defined, owned, IT enabled and effective. Responsibilities are expected to include:

• Design: Determining and implementing an optimal bank-wide operating model which is scalable, owned, controlled, visible/subject to workflow, and maximises efficiency and effectiveness. This includes engagement with department champions and support functions (HOST etc).
• Developments: Early identification, work with 2LoD Stewards to scope and manage new reporting requirements, including engagement with the CB and industry bodies to influence proposed/future requirements and delivery of ‘dry runs’.
• Production: Co-ordination and delivery of the end-to-end reporting process including submission management, internal escalation, and handling post submission Central Bank queries.
• Assurance: Validation of business as usual report submissions via a combination of data assurance and analytical review techniques. Targeted deep-dive quality assurance reviews, along-side the Controls Office, to drive bank-wide effectiveness and efficiency.
• Other: Management of ad-hoc regulatory reporting requirements; engagement with internal compliance functions (e.g. internal audit, Controls Office etc); maintaining a report inventory; and other ad-hoc tasks required to support the rapidly evolving regualtory reporting landscape.

Impact on the Business

• Maintain oversight of a number of Regulatory Reporting strategic deliverables
• Designing and implementing end-to-end reporting process across Lines of Business and functions that is defined, owned, IT enabled and effective.
• Drive delivery of BAU regulatory Reporting requirements in UAE (focusing on the new requirements that need bank-wide coordination e.g. Monthly Examiner Returns, CB20 and the RBS).
• Ensure effective control policies and procedures are in place for UAE regulatory reporting.
• Ensure accuracy and integrity of regulatory returns.
• Minimising project and BAU risk by providing guidance and establishing a control framework around regulatory reporting.

Customers / Stakeholders

• The key stakeholder is the Regional Chief Operating Officer and Regional Chief Data Officer. Other stakeholders include the Chief Risk Officer and Chief Accounting Officer. Finally, engagement across LOBs and sub-functional teams is key to deliver the bank-wide initiative.
• The role will be required to drive and deliver status updates to the country and region Risk Management Meeting and various other governance forums
• The role will be required to support with Regional engagement

Operational Effectiveness & Control

• Ensure BAU reporting is delivered in an effective and efficient manner.
• Ensure Regulatory reporting strategic deliverables are delivered in an effective and efficient manner.

Management of Risk
The jobholder will also continually reassess the operational risks and likelihood of operational risk occurring. This will be achieved by reviewing risks associated with the role and inherent in the business, taking account of changing global economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new processes. Effective and timely remedial action should be evidenced.

Observation of Internal Controls

• The jobholder will 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.
• The jobholder will adopt the Group Compliance Policy by escalating any identified compliance risk in liaison with Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators

Requirements

TO BE SUCCESSFUL IN THE ROLE, YOU SHOULD MEET THE FOLLOWING REQUIREMENTS:

• Resilient and adaptable professional with proven experience working effectively with banking regulators
• Advanced knowledge of regulatory reporting requirements issued by the PRA, DFSA, or other major regulators in the Middle East.
• Demonstrated working ability and knowledge of economic principles, financial markets, financial services, and the analysis and reporting of financial data.
• Strong knowledge of banking and financial reporting systems architecture and key functionalities, and experience of system implementation and process improvement projects in a large financial institutions or multi-national corporations.
• Proven experience in influencing external policy agenda. Extensive knowledge and ability to adopt a constructive and pro-active approach to changing conditions and/or regulations.
• Strong leadership capabilities of navigating, aspiring, driving, mobilising and sustaining, in line with HSBC values of open, connected and dependable.
• Ability to lead transformation and drive effective changes through people in a large matrix organization.
• Ability to form effective relationships and achieve influence at the most senior level in the organisation in a pressurised, deadline-driven and complex environment
• Strong communication (both verbal and written) and interpersonal skills
• Bachelor’s degree is a must to obtain UAE visa