Head of AML & FC WPB

Job description

Job Advert Details
Department

The Risk & Compliance function is a Second line of defence (LOD) function, responsible for reviewing and challenging the activities of the Group’s businesses (also referred to as “the First LOD”) to ensure that they effectively manage as “Risk Owners” the risks inherent in or arising from the conduct of their activities and for which they are responsible. The Second LOD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LOD. The Risk & Compliance function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group’s risk framework.

Report to: Head of FC Taiwan
People responsibility: Yes

The Head of AML and FC WPB Taiwan is responsible to ensure Taiwan manages the Financial Crime risks that it faces. The role holder is the senior accountable executive focused on and responsible for ensuring that Taiwan operations are effective in countering the risk that Taiwan might be used or targeted for financial crime activities. The role is a key risk management role with a broad remit and responsibilities.

Role Description
1) AML

·  Set policy and provide effective oversight of the operational effectiveness of critical policies and systems covering financial crime that ensure that the Taiwan exposure to financial crime and related reputational risk is managed, in a commercially sensitive, practical and cost effective manner.
·  The articulation of Taiwan risk appetite and policies with respect to money laundering, tax evasion, terrorist financing, bribery and corruption.
·  Identify, analyse, and investigate Financial Crime risk to support informed risk management and effective information sharing with internal and external stakeholders (including government), grounded in advanced analytics and technology.
·  Acting as a trusted advisor to the Taiwan senior executive stakeholders (including the leadership of the Risk and Compliance function) on all material AML risk and related reputational issues involving Taiwan that arise in relation to the operational management of financial crime risk.
·  Directly engaged in contributing to a consistent approach to managing Taiwan positive relationship with its regulators, and, in conjunction with Head of FC and Chief Compliance Officers, ensuring timely reporting and disclosure of relevant information both to our regulators and within the Group in relation to financial crime matters.
·  To ensure second line governance of AML risk exposure, providing analysis, reporting and governance that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure.

2) FC WPB

·  Management of specialists who face off to the stakeholders and product teams as relevant within WPB requiring strong stakeholder management skills and the ability to build partnerships to drive and accelerate the execution of financial crime risk management programmes that directly impact business performance.
·  Accountability for the implementation of financial crime policies into the WPB business and ensuring a clear understanding of financial crime risk exposure with respect to clients, transactions, staff and products.
·  Providing effective oversight of the operational effectiveness of critical policies and systems covering financial crime that ensure that the WPB exposure to financial crime and related reputational risk is managed, in a commercially sensitive, practical and cost-effective manner.
·  Acting as a trusted advisor to the senior executive stakeholders in Taiwan WPB as well as the leadership of the Risk and Compliance function, on all material financial crime risk and related reputational issues involving WPB that arise in relation to the operational management of financial crime risk including the delivery of strategic and tactical initiatives for effective risk oversight and mitigation. These include but are not limited to weaknesses in capability and capacity, emerging risks and issues in the business, thematic issues with policy design, implementation and/or interpretation.
·  The articulation of financial crime risk appetite and policies with respect to financial crime risk faced by WPB.
·  To serve as the financial crime risk steward for Taiwan WPB in governance, including sitting as directed by the Regional Head of FC as a member of the WPB Risk Management Meetings, WPB Reputational Risk and Client Selection Committees to report on progress and issues in relation to the operational effectiveness of HSBC’s policies, processes, systems and controls in countering financial crime.
·  To ensure second line governance of financial crime risk exposure, providing analysis, reporting and governance that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure in WPB notably through the use of escalation mechanisms such as the SMR/REC report.
·  Contributing to building a robust financial crime risk management culture and strategy through both internal and external governance, strategy and communications, as well as people management and policy adherence.
·  To stay at the forefront of key regulatory changes, particularly where relevant to WPB to ensure proactive communication with the business and contribute to appropriate policy and framework changes.
·  Lead the Taiwan AML and FC WPB team, establishing guiding principles and strategic operational objectives, owning budgeting and managing costs, headcount and resources

Information

·  Seasoned professional with experience in Compliance roles, AML, Transaction Monitoring, Tax Transparancy or AB&C.
·  Detailed and extensive knowledge of local and the HSBC Group structure, its business and personnel, and HSBC’s corporate culture.
·  Significant knowledge of a financial crime risk framework and experience in its execution, together with knowledge of WPB business and products Significant leadership experience and an experienced strategic thinker.
·  Excellent communication and inter-personal skills, with experience of dealing with executives at all levels.
·  Ability to develop practical, cost effective solutions to complex global issues.
·  A legal or formal accountancy qualification or professional background in relevant risk or audit discipline; qualifications under the relevant regulations.
·  Personal Account Dealing (PAD) Covered