Associate Controls - Global Markets FO

Job description

Values
The Markets & BSM Control Office is an extension of the Markets & BSM COO Office, and the Office will partner with business management in the embedding, remediation and improvement of the control environment in respect of key risks to the Markets and BSM businesses, including the testing and assurance requirements of the Group Operational Risk Management Framework. The office will deliver on control related priorities in a well-organized, effective, and collaborative manner.
The Sr. Analyst Business Risk & Control supports the Control Office in the execution of an effective risk management program with primary responsibilities of supporting the internal control monitoring plan and contributing to the control effectiveness testing. The position includes responsibilities related to a variety of risk categories and related areas such as business continuity, audit remediation, compliance, regulatory adherence, and information security.
Specific responsibilities include

• Assist in the development of testing scripts for the review of Front Office owned controls that are identified against the UK Swap Dealer as per Dodd Frank title VII.
• Execute plan to evaluate the design and test the effectiveness of key controls within area of responsibility including but not limited to operational risk and specific regulations including Dodd Frank title VII & the Volcker Rule.
• Demonstrate an understanding of pertinent business areas and requirements as detailed in Group Standards Manuals and Functional Instruction Manuals (FIM) and local standards
• Help implement and support a plan to achieve risk management goals of the business/function, including complex testing, monitoring and reporting requirements
• Conduct risk assessments to ensure risks are mitigated and fall within risk appetite and threshold;
• Sufficiently document testing details and results utilizing internal control testing methodologies
• Based on the activities in the area under review, identify key areas of risk or concern
• Report results of control testing, identify trends, and escalate issues to onshore management
• Work with onshore staff to on the remediation of any breaches in risk management
• Assist onshore staff in conducting risk assessment certification/sign off by business/function
• Assist in the timely remediation of issues, including internal and external audit observations and regulatory findings
• Document and monitor progress of remedial actions for issues
• Ensure documented policies and procedures remain current and are aligned to the processes taking place
• Monitor and analyse Key Risk Indicators and operational metrics
• Maintain risk and control database (Orion)
• Exhibit solid time management to complete reviews scheduled in a timely manner
• While not a requirement, flexibility to cover London hours is desirable.

Desired profile

Qualifications :

Values
The Markets & BSM Control Office is an extension of the Markets & BSM COO Office, and the Office will partner with business management in the embedding, remediation and improvement of the control environment in respect of key risks to the Markets and BSM businesses, including the testing and assurance requirements of the Group Operational Risk Management Framework. The office will deliver on control related priorities in a well-organized, effective, and collaborative manner.
The Sr. Analyst Business Risk & Control supports the Control Office in the execution of an effective risk management program with primary responsibilities of supporting the internal control monitoring plan and contributing to the control effectiveness testing. The position includes responsibilities related to a variety of risk categories and related areas such as business continuity, audit remediation, compliance, regulatory adherence, and information security.
Specific responsibilities include

• Assist in the development of testing scripts for the review of Front Office owned controls that are identified against the UK Swap Dealer as per Dodd Frank title VII.
• Execute plan to evaluate the design and test the effectiveness of key controls within area of responsibility including but not limited to operational risk and specific regulations including Dodd Frank title VII & the Volcker Rule.
• Demonstrate an understanding of pertinent business areas and requirements as detailed in Group Standards Manuals and Functional Instruction Manuals (FIM) and local standards
• Help implement and support a plan to achieve risk management goals of the business/function, including complex testing, monitoring and reporting requirements
• Conduct risk assessments to ensure risks are mitigated and fall within risk appetite and threshold;
• Sufficiently document testing details and results utilizing internal control testing methodologies
• Based on the activities in the area under review, identify key areas of risk or concern
• Report results of control testing, identify trends, and escalate issues to onshore management
• Work with onshore staff to on the remediation of any breaches in risk management
• Assist onshore staff in conducting risk assessment certification/sign off by business/function
• Assist in the timely remediation of issues, including internal and external audit observations and regulatory findings
• Document and monitor progress of remedial actions for issues
• Ensure documented policies and procedures remain current and are aligned to the processes taking place
• Monitor and analyse Key Risk Indicators and operational metrics
• Maintain risk and control database (Orion)
• Exhibit solid time management to complete reviews scheduled in a timely manner
• While not a requirement, flexibility to cover London hours is desirable.

Knowledge & Experience / Qualifications

Qualifications
• Minimum of a Bachelor's degree
• 3+ years of work experience
• Background in Banking, risk management and / or internal audit; Audit, Risk or Compliance professional designation preferred
• Ability to understand and identify key risks and controls that require testing within processes
• Analytical and review skills with the ability to draw the correct conclusions from reviews
• Time management and organization skills with the ability to prioritize and multi-task
• Understand and ensure compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business/function
• Excellent written & oral communication and presentation skills including the ability to deliver clear and accurate messages to management
• Ability to operate autonomously, as well as be an effective member of a broader team
• Complex problem resolution
• Sound judgment, keen sense of urgency and initiative
• Expert in all Microsoft Office applications.
Role Context
By the end of 2016 the GBM footprint across the GSCs will be over 7000 FTE across 7 centers and 6 countries. The Service Centres will be supporting all business lines within GBM including Markets, HSS and Banking. Within the GBM Service Centre responsibility is also some of the global functions support for the businesses including for example Wholesale and Traded Risk.

The Markets Front Office roles need to be integrated in to the wider GBM Service Centre structure whilst ensuring appropriate segregation with an effective support structure both within Markets as well as the wider GBM and HOST structures.

Major Challenges
• First offshoring of Markets Front Office roles so strong support and guidance will be required for the business
• A rapidly changing regulatory environment with extensive impacts on the Markets businesses
• A high risk and sensitive set of functions potentially to be offshored so it is critical there is no negative business or client impact
• Increasing focus on business continuity delivery
• Availability of appropriate resources and conflicting priorities across the business
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
• Promote an environment that supports diversity and reflects the HSBC brand
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

• Responsible for the continual assessment of 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 restructuring and the impact of new technology.

• Demonstrates compliance with HSBC Bank plc Group standards, manuals and policies and adheres to the defined work practices, internal controls and risk management standards associated with the role.