Head of Sanctions

Job description

Job description

Role purpose

·  Accountable for Trade, Economic and Financial Sanctions (including sanctions programs administered by the U.S. Office of Foreign Assets Control, United Nations, European Union and HM Treasury’s Financial Sanctions, (collectively referred to herein as “Sanctions”), and global risk management framework to meet legislative and regulatory requirements in the region.
·  Key strategic risk management leadership role providing oversight and management, of all aspects of Financial Crime Sanctions including impact analysis of regulatory changes within Region.
·  Accountable for the collation of potential breaches of sanctions from across the Region and Countries, review of the reporting made and appropriate escalation to Regional CCO.
·  Act as principal point of contact for internal and external stakeholders in relation to Sanctions risk (including regulators) within Region.
·  Critical forward looking leadership role requiring strong partnership with business to drive and accelerate the execution of Financial Crime Sanctions programmers within the region that directly impact business performance. 
·  Stay at the forefront of key regulatory changes to ensure proactive communication with business and implement appropriate policy and framework to manage the changes.
·  Participate in and work with relevant local (regional/country industry bodies and groups in relation to Sanctions related initiatives, trends and proposals.
·  Provide advice to business across region and countries on risk associated with prospective business, products and service and design mitigation controls and implement strategies as appropriate.
·  Intersecting with and representing FC with senior business leadership.

 

Impact on the Business/Function

·  Implement and drive Group communications strategy, for standards, systems and policies in relation to Sanctions Regional and Country-wide.
·  Identify, assess, oversee and communicate all requirements relating to legal guidance and sanctions evasion trends in relation to risks presented through HSBC’s business activities across the region.
·  Support and facilitate a strategic coordination and implementation of an effective Sanctions controls framework within the region and countries.
·  Manage a team within the FC Sanctions function with Country/Global Business oversight.
·  Ensure that assurance approaches are applied consistency across International teams within each Country and Business Unit within Region.
·  Ensure that the Group’s regional exposure to regulatory and reputational risks is managed, in a commercially sensitive, practical and cost effective manner.
·  Discharge the relevant accountabilities as set out in the Group FC standards framework.
·  Manage and lead the required remedial action of all material FC sanctions issues involving the Region that arise to ensure effective implementation through internal and external reviews.
·  Develop and deliver training on Sanction risks for all business products, services and geographies across the Region.
·  Leadership to drive, develop and implement programmers to quantify impacts and implement actions to address, manage and mitigate impacts of sanctions risk embedded in client activity.
·  Advising and tracking on advances in screening technology, working with software delivery to maximise the effectiveness of HSBCs screening utilities.
·  In conjunction with Legal, identifying the need for and preparing licensing request.
·  Implement and drive global standards within the region / countries and strategic policies which ensure FC Sanctions exposure to current risks and emerging arising risk is managed appropriately, in a commercially focused and practical manner.
·  Implement, as required, Group sanctions policies and systems within Regions that ensure that business exposure to financial crime 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.

Major Challenges

To take the complexity of the regulations on the one hand, and the diversity of business and geographies within Region and Countries, and achieve a balance between the demands of the regulators, external bodies and governmental initiatives and the Group’s shareholders and customers; being alive to the political, management, operational, regulatory and reputational implications of particular decisions and courses of action; assisting senior management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks.

The incumbent is required to ensure the consistent application of the highest Risk management standards notwithstanding the complexities of products and business operations across regions. Risk is forward looking. The incumbent would implement change programmes regionally to ensure that the FC Sanctions remains in line with regulatory requirements across the Region and countries. A balance must be maintained between the local, regional and global priorities. The incumbent would need to balance between sometimes conflicting needs and priorities of different teams within Risk departments and across countries.

Requirements

Knowledge and Experience

·  Seasoned professional with experience in one or more senior financial crime risk compliance roles, ideally to include Sanctions experience.
·  Knowledge of Sanctions regulations and guidance.
·  Knowledge of the HSBC Group structure, its business and personnel, and a deep understanding of HSBC’s corporate culture.
·  Significant experience in the financial services industry.
·  Lateral thinker with an ability to interpret and solve complex issues.
·  Well developed leadership skills.
·  Excellent communicator with strong inter-personal and influencing skills.
·  Experience developing an assurance model and developing/leading a review team.
·  Experience in leading assurance work in a complementary discipline e.g. Audit would be an advantage.
·  Ability to lead change, contributing to joining up with the other teams in Risk and Business globally
·  Experience of dealing with regulatory matters and confident interaction with Regulators.
·  Ability to develop practical, cost effective solutions to complex global issues.
·  Spanish and English fluency.

  HSBC is committed to building a culture where all employees are valued, respected and where their opinions count. We want to build a culture where our employees are comfortable in bringing their whole self to work, regardless of gender, age, sexuality, ethnicity, disability, religious belief, background, and any other aspect of personal difference.  At HSBC we are oriented towards guaranteeing gender equality and constant training for our employees as well as the protection of their labor and social rights.