Senior Manager Commercial Bank Regulatory Compliance – Market Conduct : 00007Y5S
Employment Type: Regular
Reporting to the Head of Regulatory Compliance (RC) Commercial Banking (CMB), the Senior Manager, RC CMB manages all aspects of Regulatory Compliance and is the primary advisor on RC matters for Commercial Banking. This includes impact analysis of regulatory changes, driving coordination and execution of various RC work streams in CMB, and ensuring alignment with applicable Global and CMB Policies. The individual may be responsible for Trade, Payments and Cash Management (PCM) and/or a general portfolio. The responsibilities of this position may include monitoring of the personal account dealing program, the eSurveillance program, conflict checks and vendor risk management analysis. The role requires strong partnership with the CMB business and leadership team to drive the implementation of policy, as it applies to CMB.
Impact on the Business
- Ensure proactive approach is taken in identification of regulatory compliance risk change and potential impacts on CMB business. Specific responsibilities forTrade and PCM Businesses will be assigned as appropriate.
- Continuous review, in consultation with Regional RC Policy team(s), for appropriateness of framework to monitor regulatory compliance developments impacting on CMB business in region
- Drive or assist with the regional implementation plans to quantify impacts and implement actions to address, manage and mitigate impacts of regulatory changes on CMB in Canada.
- Develop and assist with implementation as required of regulatory compliance policies, procedures and systems that ensure that CMB exposure to regulatory compliance and reputational risks 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 line management with the establishment and implementation of applicable Global and CMB strategic policies in region to ensure CMB exposure to current risks and emerging arising risk is managed appropriately.
- Work closely with Head of RC in the development and enhancement of committee reporting to Senior Management and Executive teams. Ensure consistent and accurate reporting, including status updates of regulatory compliance risks and related projects.
- Assist with the Compliance Risk Assessment process and annual Compliance Plans across the business lines.
- Execution of monitoring and support activities encompassing RC oversight, including, but not limited to personal account dealing, market conduct, e-Surveillance, vendor risk management assessments and other 2nd line of defence activities.
- Identification of Regulatory Compliance breaches and potential impacts on CMB employees.
- Works closely with Control Rooms and Global Service Centre to manage Risk and Compliance matters in CMB Canada.
- Provide management information statistics and breach details as part of on-going Senior Management and Committee reporting.
Customers / Stakeholders
- Liaise with relevant stakeholders within CMB, other Global Business and Functional teams to provide CMB expertise on all RC matters. Specific responsibilities for Trade and PCM Businesses will be assigned as appropriate.
- Ensure the appropriate timely and relevant risk information is provided to Regional Head of CMB RC, Regional Head of RC, Global Head of CMB RC, CMB senior management, Trade and PCM management as assigned, Risk Management Committee and CMB Risk Committee.
Leadership & Teamwork
- Strong communication and working relationship with Senior Managers in CMB
- Share best practice with group offices and other business lines with region and globally
- Maintain and develop positive and professional working relationships with senior business managers at the Group and Regional levels.
- Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
- Focus on aligning the CMB operating practices with changes in regulatory compliance policies and regulations and regulatory risk, and ensure that CMB Regulatory Compliance Framework remains appropriate.
- Strive to resolve any/all identified issues promptly, and escalate material concerns to Head of RC CMB 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.
- 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.
- Commercial Banking 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 Sr Manager, RC CMB to assist the Regional Head RC CMB, in achieving a balance between the demands of regulators, external bodies and governmental initiatives, CMB business and ultimately the Group’s shareholders and customers.
- In order to effectively manage change in a volatile environment, the jobholder is required to have a broad and deep understanding of businesses, regulatory and industry issues, as well as the competitive landscape. The incumbent will be required to stay abreast of the rapidly changing regulatory environment as it relates to Regulatory Compliance Risk
- The incumbent is required to ensure the consistent application of the highest Risk management standards, as led by the Head of RC CMB, notwithstanding the complexities of products and business operations in Canada.
- This role also needs to lead without authority and be able 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.
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 also 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. 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
- 4-7 years of experience in Regulatory Compliance, with relevant Commercial
- Banking business line exposure. Experience in Trade or PCM is an asset
- Excellent communication and inter-personal skills, with experience of dealing with indivuals at all levels including the capacity to articulate the case for risk management and policy in the language of business.
- Experience dealing with regulatory matters and interaction with Regulators.
- Ability to lead change and contributing to joining up with the other teams in Risk and Business globally.
- Experience of interpreting and analysing a large volume of information and / or data and provide succinct summary for management.
- Experience of working within a matrixed environment preferred
Job Field : Risk Management
Primary Location : North America-Canada-Ontario-Toronto
Schedule : Full-time Shift : Day Job
Type of Vacancy : Country vacancy
Job Posting : 13-Jan-2017, 15:26:26 Unposting Date : 25-Jan-2017, 23:59:00