AVP AML

Job description

External Job Title: AVP Anti-Money Laundering

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Business Descriptor:

Global Risk is a thriving and expert risk management function supporting HSBC globally with all aspects of risk management. The team actively manages a varied and dynamic range of risk types, including security, fraud, information security, contingency, geopolitical, operational, credit, pension, insurance, financial crime and regulatory compliance, market and reputation risks. All parts of the Global Risk team use their skills, insight and integrity to handle established threats and those they see emerging, acting to protect and enable HSBC to deliver sustainable growth.

The AVP - AML is a key strategic risk management role that has a broad remit, accountability and responsibility for implementing policy for the anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) (collectively referred to herein as “AML”), risk management framework to meet AML requirements and legislation in India. This includes management of AML including impact analysis of regulatory changes, and driving coordination and execution of the various Financial Crime Compliance work streams and assurance, while ensuring alignment with Global Standards.

The AVP – AML is required to support the Head AML in discharging the AML related responsibilities as set out in the Money Laundering Deterrence Programme and Compliance Officer Handbook by proactively assisting management in identifying and containing the risk of money laundering, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators, specifically:

· Reviewing transaction alerts in line with AML policy and procedures and escalating suspicious alerts up the line management
· Ensuring Group / Region issued AML procedures are followed and relevant timelines met
· deploying the Global Exit Policy
· issuing local policies and procedures on key AML topics to the business within HBAP INM
· preparing and submitting periodic AML report(s) and Compliance Certificate (AML statistics) to APH CMP

Principal Responsibilities:

· Assist INM line management (via the Head FCC & Head AML), in their responsibility for complying with relevant regulations on AML and Sanctions, including advising on related issues.
· To identify and minimize reputational risk to the Bank.
· Establish, develop and maintain an effective AML function and provide adequate support through advice and guidance to business management in discharging their responsibilities to the Group for controlling AML risk and associated reputational risk.
· To support the efforts of the Group on creating and improving awareness on AML. To train or assist in the provision of training with a view to ensuring that the Group requirements are met.
· To ensure that a robust procedural framework protects the Businesses against money laundering. To monitor changes to business practices and products to ensure that procedures and controls on AML and Sanctions are adequate to cover them.
· Demonstrate, develop and encourage actions based on a values-led organization, consistent with principles communicated by Group CEO and enshrined in GSM
· Liaise with the relevant Operations/Global Resourcing, Internal Control and Internal Audit in relation to AML matters including the implementation of automated monitoring programmes to assist in identifying potentially suspicious transactions and the filtering of payments, the provision of technical support and guidance, and with other support functions with related responsibilities (e.g. SFR)
· Maintain HSBC internal control standards, implement and observe Group Compliance Policy and maintain awareness of operational risk and minimize the likelihood of it occurring.

Desired profile

Qualifications/Requirements:

· Professional with experience in one or more Risk/Compliance management or front office roles
· At least 5-10 years of banking experience, preferably with at least 2 years of experience in the areas related to Financial Crime.
· Extensive knowledge of AML regulations and guidance.
· Lateral thinker with an ability to interpret and solve complex issues.
· Excellent communicator with strong inter-personal and influencing skills.
· Experience of dealing with regulatory matters.

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The Hongkong and Shanghai Banking Corporation Limited (HSBC) India