Senior Vice President, Regulatory Compliance CMB and GBM - Global Functions

at  HSBC

Job description

SOME CAREERS OPEN MORE DOORS THAN OTHERS.

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
Regulatory Compliance ensures adherence to applicable regulations and standards by setting the policies which cover HSBC’s regulatory requirements, and mitigate conduct and reputational risk issues. The team strives to remain ahead of the regulatory change agenda and ensures the business understands the implications and is prepared for change. It monitors how the Global Businesses and Functions manage their responsibilities with regard to complying with the regulations and helps resolve compliance deficiencies.
We are currently seeking a high calibre professional to join our team as a Senior Vice President, Regulatory Compliance CMB and GBM.
Principal Responsibilities
This is a key role to support the Head of Regulatory Compliance (“RC”), Markets & Securities Services (“MSS”) and Head of RC, Commercial Banking & Global Banking and Markets (“CMB & GBM”), whom the Head of MSS RC reports into. The role has broad responsibilities for supporting implementation and management in all aspects of Regulatory Compliance for the CMB & GBM Business in Singapore, particularly the Markets business. These includes impact analysis of regulatory changes, managing regulatory risk assessment, assessing conduct risks, providing compliance advisory, and driving and execution of the various Regulatory Compliance work streams and assurance for MSS in Singapore, while ensuring alignment with Global Standards.
The role requires strong partnership with the various lines of business and risk and compliance teams. As part of the Singapore Country Strategic Advisory Plans (CSP) and the HSBC Group pivot to Asia strategy where Singapore is a scale and priority market, there are ambitious growth plans due for execution in Singapore and South East Asia (“SEA”), with Singapore being a key site for the SEA strategy. These CSP growth plans include various digital initiatives and cross border strategies and introduction of new products and services. These plans introduce various Regulatory Compliance risks (i.e. cross border, conduct risks etc.) that require the Regulatory Compliance team to be able to advise and risk steward these initiatives.
The role will also need to stay at the forefront of regional regulatory changes impacting the CMB & GBM businesses, in particular the Markets space, to provide support for proactive communication with business and develop appropriate policy and framework to manage the changes, including creating regulatory compliance awareness through proactive engagement with business stakeholders and training. Risk stewardship under the bank’s Non-Financial Risk (“NFR”) framework is also part of the role.

Description:

• Assist the Head of RC, MSS, CMB & GBM in providing directions and guidance on regulatory compliance matters to the business units, particularly the MSS business
• Monitor and assess the impact of regulatory developments and changes on our businesses in Singapore, including advising on the appropriate actions and solutions to ensure compliance and mitigate risks
• Conduct regular conduct compliance reviews, risk assessments to evaluate the adequacy and effectiveness of the regulatory compliance controls and process, including reporting on findings and recommendations
• Manage and provide training and awareness programs for staff and stakeholders, and foster a compliance culture within the organization
• Reviews and assist in carrying out the effective deployment NFR framework
• Review new product approvals and any new business initiatives
• Assist in providing oversight and support over transaction and surveillance framework
• Assist to maintain effective regulatory relationships including acting as a liaison with regulators and auditors
• Liaise/engage with relevant stakeholder as well as other Global Business and Functions in Singapore to provide expertise and support on all Regulatory Compliance related matters
• Interact with Regulators and industry bodies in Singapore, on Compliance matters
• Ensure the appropriate timely and relevant risk information is provided to management, in-country management and Regulatory Compliance management in Singapore and region
• Strong communication and working relationship within other Regulatory Compliance teams, other Risk Disciplines, Functions and Global Businesses to ensure implementation of new disciplines
• Share best practice with other business lines
• Maintain and develop positive and professional working relationships with business managers at the Global and Country levels
• Resolve any/all identified issues promptly, and escalate concerns to line managers, Head of Regulatory Compliance and Chief Risk and Compliance Officer (“CRCO”) in Singapore as appropriate to ensure timely awareness of any material concerns
• Maintain and observe all HSBC control standards and implement and observe policies and procedures, including the timely implementation of recommendations made by internal/external auditors and external regulators
• Maintain awareness of operational risk and minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting

Requirements

• Min. 7+ years of Regulatory Compliance experience in MSS, where such experience in Markets business relating to sales and trading of various asset classes such as equities, FX and FI is an added advantage
• Have good working knowledge of regulations (i.e. Banking Act, SFA, FAA)
• Have excellent interpersonal and negotiation skills
• Must be analytical and have a good eye for detail
• Possess strong communication skills both verbal and written
• Able to work under pressure and tight deadlines
• Able to work both as a team player as well as independently
• Familiar with MSS business/products and its accompanying RC risks

Please refer the Job description for details