Senior Manager Regulatory Compliance, Retail Banking and Wealth Management, HIFC

Job description

Employment Type: Regular
 
The position directly supports and reports to the AVP RC RBWM HIFC, Chief Compliance Officer (CCO) for the HSBC Investment Funds Canada Inc. (HIFC), within HSBC Bank Canada. HIFC is mutual dealer that operates within the Retail Bank Wealth Management (RBWM) function at HSBC Bank Canada.
 
The position principally works with the HIFC CCO to implement and maintain adherence to HSBC Group internal policies, MFDA and other local regulatory requirements. From time to time, the position will require participation in projects, where necessary, to work with key business stakeholders, other compliance staff, legal and risk/internal control groups.
 
Impact on the Business
Minimize reputational risk, particularly with respect to risks arising out of extensive and complex regulations.
Manage assigned compliance functions for the HIFC distribution business.
Maintain awareness of major regulatory changes affecting HIFC by developing policies and procedures to remain compliant and ensure appropriate communication is provided to the business.
Identify and report all significant regulatory compliance breaches or gaps.
Work with legal and business management to design and implement changes to business policies and procedures as appropriate.
Customers / Stakeholders
Discharge the accountabilities set out in the HSBC Group Functional Instruction Manuals (FIMs) and MFDA requirements by pro-actively assisting management in identifying and containing compliance risk and fostering a compliance culture.
Develop external contacts among industry peer groups to determine and validate that HIFC is following and is instrumental in developing industry best practices.
Provide guidance to less experienced compliance personnel on regulatory matters, as appropriate.
Leadership & Teamwork
Support the HIFC RC team as a subject matter expert by sharing experience and knowledge.
Serve as liaison for HIFC to foster good working relationships with internal audit and regulatory agencies affecting HIFC.
Observe the Group Compliance Officer and Money Laundering Control Officer handbooks.
Abide by human resources and other HSBC policies in support of an ethical and respectful work environment.
Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
Facilitate information requests and meetings, participate in exit interviews and coordinate management responses to examination findings.
Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
Complete other responsibilities, as assigned.
Major Challenges
Applying compliance; internal and operational risk controls in accordance with HSBC or local regulatory standards and policies; report issues and operational loss events.
Role Context
Provides direct support to AVP RC RBWM HIFC HIFC CCO.
Act as a compliance subject matter expert (SME) to the business and ensure adherence to applicable regulations.
Work with and build a strong relationship with the business and legal.
Develop and maintain trending analysis and KI’s.
Report on HIFC activities to assist the HIFC CCO with compiling management reports for assigned areas.
Ensure oversight of applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
Report all material and significant breaches or potential breaches of regulations or compliance.
Participate in special compliance reviews, projects and training efforts.
Complete other responsibilities, as assigned.  
Management of Risk
Ensure compliance of both general and anti-money laundering and anti-terrorist financing (AML/ATF) compliance controls as well as operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
Discharge the accountabilities set out in the Legal and Compliance FIM by pro-actively assisting management in identifying and containing compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators.
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.
Oversight of the branch review program and ensure policies and procedures are in line with MFDA Policy 5.

Desired profile

Minimum of 7-10 years proven and progressive financial services operations, compliance and/or legal management experience or equivalent.
Bachelor’s degree in business, finance, accounting, law, or related field or equivalent experience.
IFIC Mutual Funds Course or Canadian Securities Course, and Partners, Directors, Officers course, Chief Compliance Officer’s course are required. CFP and other securities related designations will be considered an asset.
Broad scope of knowledge of local securities environment, including products, operations, systems and organization.
Expertise dealing with laws, regulations and regulatory compliance requirements related to the MFDA and retail mutual fund sales will be considered an asset.
Ability to exercise independent judgment is required.
Strong knowledge of securities, and in particular, mutual fund related activities, products, operations and systems and full understanding of all significant regulatory compliance requirements.
Strong managerial, communications, analytical, organizational, project management and planning skills.
Strong knowledge of assigned businesses, products, operations, systems and organization and full understanding of all significant regulatory compliance requirements applicable to the business.
Proficiency with personal computers and pertinent mainframe systems and software packages, Word and Excel.