Assistant Vice President Senior Regulatory Compliance Officer - Trade Surveillance (Foreign Exchange or Futures)

Job description

The individual will be part of the overall Capital Markets Surveillance program within the US. Market Surveillance develops, maintains and conducts surveillance reviews relating to potential market abuse and market conduct issues. This individual will mainly be responsible for either FX and derivatives or Futures related surveillance, but not limited too.
· Must have working knowledge in FX/derivatives or Futures, ideally with experience directly in the compliance, surveillance, front office, and/or risk management covering these products
· Understanding the concept of Trade Surveillance and its functionality.
· Experience in developing and reviewing daily trade surveillance reports, and deal with various ad-hoc special projects simultaneously.
· Experience in dealing with business, internal testing groups, audits, and regulatory bodies such as FINRA, SEC, OCC and/or NFA.
· Listens to, and reviews, telephone conversations for potential inappropriate behaviors;
· Plays a key role in developing the voice surveillance program within HSBC;
· Excellent understanding of multiple products, trading floor languages, and benchmark setting processes
· Sets priorities and makes day-to-day decisions independently. Escalates matters to senior management as needed.
· Under the direction of a more senior officer, serves as a subject-matter expert for specific regulation(s), regarding its purpose and legislative history, remaining aware of changes to the regulation or to applicability of the regulation to the business lines in the US.
· Is knowledgeable about the results of any relevant BRCM reviews, CTAC testing and Internal Audits and provides input into the action plans to address any weaknesses identified. Provides support to ensure remediation efforts are on track for assigned regulation(s), regulatory requirements and/or compliance risks.
· Assists management in articulating any control weaknesses and status of plans to address these across HNAH. Initially, this information will be part of the Regulatory Controls Review (RCR) Controls Remediation Project for each regulation.
· This role typically reports to a VP or SVP level regulatory compliance officer. In some cases, this role may report to an AVP Manager Regulatory Compliance Officer.
· Strong knowledge in commodities/derivatives, though the whole product lifecycle.
· Understanding the concept of Trade Surveillance and its functionality.
· Experience in developing and reviewing daily trade surveillance reports, and deal with various ad-hoc special projects simultaneously.
· Experience in dealing with business, internal testing groups, audits, and regulatory bodies such as FINRA, SEC, OCC, and/or NFA.
Impact on the Business
· Assists with providing advisory services and direction to all business and support areas regarding assigned regulations, regulatory requirements and/or compliance risks.
· Under general supervision, works with management and the line of business Local Compliance Officers (LCOs) in the development and enhancement of products to ensure compliance with applicable laws and regulations.
· Provides assistance in the development and maintenance of supporting policies, procedures, agreements, and contracts.
· Assists management and the line of business LCOs in identifying and containing compliance risk, monitoring, reporting, and certification, fostering a compliance culture and optimizing relations with regulators.
· Provides support as requested to ensure that a HNAH-wide Training Needs Assessment has been created for assigned regulation(s), regulatory requirements and/or compliance risk to reflect the training required by the lines of business and by Compliance on an annual basis.
· Prepares summaries on compliance with assigned regulation(s), regulatory requirements, and/or compliance risks for senior management, and/or Committees/Boards or Executives as required.
Customers / Stakeholders
· Fosters positive working relationships with business line management, internal control and appropriate senior management stakeholders to support adherence to assigned regulation(s), regulatory requirements, and/or compliance risks. Offers guidance and advice to appropriate stakeholders as needed.
· Liaises with line of business LCOs, Business Risk Control Managers (BRCMs) and other Compliance stakeholders to ensure a strong second line of defense and in support of first line of defense efforts and responsibilities.
· Assists with monitoring, in coordination with the line of business LCOs, the status of any related material compliance issues identified and reported by Compliance Testing and Control (CTAC), Compliance Inspection Unit (CIU), BRCMs, regulators or Internal Audit and provide updates to business unit management as necessary.
Leadership & Teamwork
· Promotes an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
· Under general supervision, provides input to the Local Compliance Officers and lines of business, to the Compliance Detailed Self Assessments (CDSAs), as well as to the Enterprise-wide Risk Assessments (ERAs). Input provided is as it relates to defined area of focus and expertise
· Maintains related written compliance procedures.
· Maintains awareness of major regulatory changes affecting area of subject matter expertise and coverage.
· Helps ensure appropriate communication and development of appropriate policy/procedure changes to remain compliant.
· Assists in identifying and reporting all significant regulatory compliance breaches or gaps; Works with legal, business management, and line of business LCOs, as required, to design and implement changes to business policies and procedures, as appropriate for areas related to subject matter expertise.
· Escalates issues uncovered to the business and senior management through designated escalation channels.
· To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
· Complete other responsibilities, as assigned.
Management of Risk
· Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
· Adheres to the Firm's Statement of Business Principles and Code of Ethics.
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.
· Helps ensure alignment with regulatory requirements, HNAH's Enterprise Compliance Policy and Program, the Compliance Risk Management Program CRMP Manual and other Group policies.

Desired profile

Qualifications :

·  Minimum of three to five years proven and progressive financial services, compliance and/or legal management experience, or equivalent.
·  Minimum of a Bachelor's degree in business, related field or equivalent experience.
·  Well-developed communications, analytical, organizational, and project management skills.
·  Broad scope of knowledge of assigned businesses, including products, operations, systems, and organization and thorough understanding of significant regulatory compliance requirements applicable to assigned business(s).
·  Proficiency with personal computers, pertinent mainframe systems, and software packages.
EEO/AA/Minorities/Women/Disability/Veterans