Reporting to the Head of Financial Crime Compliance Retail Banking Wealth Management, The Senior Manager Financial Crime Compliance (FCC) Retail Banking and Wealth Management (RBWM) has a broad remit and responsibilities for providing oversight with guidance from the Head of FCC RBWM, in the implementation and management of all aspects of Financial Crime Risk including impact analysis of regulatory changes for RBWM. The role is expected to drive coordination and execution of the various Financial Crime Compliance work streams and assurance, while ensuring alignment with Global Standards.
The role requires strong partnership with the RBWM business and leadership team, as well as the Global RBWM FCC team and Canada FCC teams, acting in concert with them to drive the implementation of policy and/or procedures, including but not limited to those arising out of Global Standards Committee, as they apply to RBWM. The role will monitor and track the Canadian RBWM progress of various work streams and initiatives underway which fall under the umbrella of Financial Crime Risk and Global Standards, provide Financial Crime Compliance policy advice related to RBWM products, services, processes and clients. The role will assist in continually assessing whether the RBWM Financial Crime Compliance function is resourced adequately to address the risks associated with the RBWM business in Canada, and will escalate material issues and/or concerns through the noted functional and entity reporting lines.
Impact on the Business
Ensure proactive approach is taken to identification of financial crime risk change and potential impacts on RBWM Business Model in Canada
Support the continuous review, in consultation with Canada FCC Policy team(s), for appropriateness of framework to monitor financial crime developments impacting on RBWM in Canada
Assist with the Canadian implementation plans to quantify impacts and implement actions to address, manage and mitigate impacts of regulatory changes on RBWM in Canada.
Support the AML, CTF, counter proliferation, anti-bribery/anti-corruption and sanctions policies, procedures and systems that ensure that RBWM exposure to financial crime and reputational risk is managed, in a practical and effective manner, including efficient and reasonable deployment of resources and an understanding of the business operations and needs.
Assist management with the establishment and implementation of Global Standards and strategic policies in Canada to ensure RBWM exposure to current risks and emerging arising risk is managed appropriately, in a commercially focused and practical manner
Work closely with relevant Global and Canadian Financial Intelligence Unit and business control functions to manage Risk and Compliance matters
Review and assist in the effective deployment of the Financial Crime Compliance Assurance function in Canada
Customers / Stakeholders
Liaise with relevant stakeholders within RBWM, other Global Business and Functional teams to provide RBWM expertise on all FCC matters
Assist with ensuring that appropriate, timely and relevant risk information is provided to Canada Head of FCC RBWM , Canada Head of FCC, RBWM senior management, RBWM Risk Management Committee, Canada FCC ManCo.
Leadership & Teamwork
Strong communication and working relationship within Canada RBWM and other Risk Disciplines, Functions and Global Businesses to ensure implementation of new disciplines.
Maintain and develop positive and professional working relationships with senior business managers at the Regional levels.
Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
Focus on aligning the RBWM operating practices with changes in Global Financial Crime Standards and regulatory risk, and ensure that RBWM Financial Crime Compliance Framework remains appropriate.
Ensure all business procedures manuals, BIMs and dispensations, etc. are updated for changes in FIMs, Regulation and impacts on business.
Strive to resolve any/all identified issues promptly, and escalate material concerns to Canada Head of RBWM FCC, Canada Head of FCC, Global Head of RBWM FCC and other managers as appropriate to ensure timely awareness of any material impediments to timely remediation.
Maintain and observe all HSBC control standards and implement and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators and the escalation of concerns to management as appropriate with regard to timely remediation.
Maintain awareness of operational risk within assigned portfolio and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting.
Assist the leadership and/or oversight of all regulatory and compliance matters for RBWM FCC in Canada and the management of associated operational risk.
Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
Complete other responsibilities, as assigned.
RBWM is an extremely diverse business and is facing an increasingly regulated and complex global environment with often little consistency between laws and regulations in different jurisdictions and regulators taking a far more aggressive approach in ensuring local compliance with their requirements and imposing increasingly stringent sanctions for breaches.
It is the role of the Senior Manager FCC RBWM to assist the Canada Head of FCC RBWM, the Canada Head of FCC, and line management within RBWM in achieving a balance between the demands of regulators, external bodies and governmental initiatives, RBWM business and ultimately the Group’s shareholders and customers.
The incumbent will be required to stay abreast of the rapidly changing regulatory environment as it relates to Financial Crime Risk and the more stringent regulatory interface and intervention across multiple jurisdictions, which is complicated further given the dynamic nature and differing pace of change
The incumbent is required to ensure the consistent application of the highest Risk management standards, as led by the Global Head of RBWM FCC and/or the Canada Head of FCC, notwithstanding the complexities of products and business operations in Canada. Risk is forward looking. A balance must be maintained between the local, regional and global priorities against the global business priorities. The incumbent would need to balance between sometimes conflicting needs and priorities of different teams within Risk departments and across countries.
The role will report directly to Canada Head of FCC RBWM.
Management of Risk
Ensure compliance of both general and anti-money laundering and anti-terrorist financing (AML/ATF) compliance controls as well as operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
The jobholder will continually reassess the operational risks associated with the role and inherent in the business, 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 operational risk occurring.
Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.
Observation of Internal Controls
Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
The jobholder will also adhere to and be able to demonstrate attention and adherence to internal controls. This will be achieved by adherence to all relevant policies and procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. This will also be achieved by adhering to all relevant processes/procedures and by liaising with Regional Financial Crime Compliance teams 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.
Bachelor degree or equivalent experience
5-7 years’ experience in Compliance, Risk and/or financial services industry
Experience or exposure to Retail Banking and Wealth Management is considered an asset
Excellent communication and inter-personal skills, with experience of dealing with executives at all levels including the capacity to articulate the case for risk management and policy in the language of business.
Ability to develop practical, cost effective solutions to complex global issues.
Experience dealing with regulatory matters
Ability to lead change and contributing to joining up with the other teams in Risk and Business globally.
Job Field : Legal & Compliance
Primary Location : North America-Canada-British Columbia-Burnaby
Schedule : Full-time Shift : Day Job
Type of Vacancy : Country vacancy
Job Posting : 05-Dec-2016, 11:04:08 Unposting Date : 09-Dec-2016, 23:59:00
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