SVP and Business Regulatory Risk Lead, Wholesale NFR

Job description

Job description

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We are currently seeking an experienced professional to join the INM NFR (Non-Financial Risk) team within INM WCOO (Wholesale COO).

 

 

Principal Responsibilities:

 

Business Regulatory Risk Advisory, Management and Oversight

·                Implement local regulatory circulars applicable to CMB and GB pertaining to regulatory compliance risk by closely working with frontline stakeholders, control owners and risk stewards.

·                Support Head NFR in deliverables, updates on local regulatory matters arising out of INM Compliance Oversight Management Committee (COMC) and INM Enterprise Regulatory Oversight Committee (EROC), Audit Working Group (AWG) of INM HBAP.

·                Ensure timely submission of monthly returns to local compliance and regional teams.

·                Implement changes in global policies and procedures rolled out by Procedure Oversight and Management Office (POMO) from time to time.

·                Plan and lead the implementation of regulatory compliance and legal risk related initiatives including assessment of external and internal requirements, local impact analysis, changes to policies / procedures / operating model in coordination with relevant stakeholders

·                Responsible for managing and oversight of the complaints framework to ensure delivery of fair customer outcomes including: complaints management, root cause analysis, policy, knowledge distribution, executive complaints, quality and insight

·                Overseeing and driving the delivery of the overall conduct work-plan for Wholesale Banking in India.

·                Assess issues raised through CCM (Continuous Control Monitoring), MSII (Management Self-identified Issue), 2LOD and 3LOD, and track the action ownership and completion timeline

·                Assist in internal Second or Third Line of Defence reviews, regulatory audits etc.

·                Establish and manage relationships with key Product Providers, Risk Stewards and stakeholders to deliver fit for purpose risk management framework.  Work with Global, Country Business, Regional Business and Risk Functions to embed appropriate governance and controls while enabling business growth

·                Be a subject matter expert and key point of contact for risk advisory in related governance framework, policies, procedures and reporting arrangements

·                Drive ongoing training and communication initiatives aimed at raising awareness and standards for frontline staff and business partners

·                Undertake sales suitability oversight and outcome testing to identify any mis-selling or areas of service improvements to our customers.

Chief Control Office:

·                The role holder acts as a First Line of Defence and work closely with Risk Owners and Control Owners to ensure the execution of operational risk management activities as defined by the Risk Management Framework.

·                Key stakeholders include colleagues in FLOD (Country Business / Team Heads, Regional Management, ASP and INM WCOO function), SLOD (all key risk stewards) and TLOD (Internal Audit).

·                The Role holder is also expected to act as Secretariat to WSB Business Risk Forums (INM CMB RMF and INM GB Governance Forum), under overall NFR framework.

·                For Regulatory Compliance and Legal Risks, the role holder is expected to facilitate the maintenance of an effective operational risk and control environment via the execution of the Risk and Control Assessment (RCA) process, assist Wholesale (GB and Core CMB) Control Owners to conduct Continuous Control Monitoring / Continuous Monitoring, ensure adherence to the Incident Management process and demonstrate oversight on Financial Crime Risk Governance and Oversight.

·                Ensure adherence to Group Standards, Regulatory and Group Audit requirements

·                Drive engagement of Concurrent Audit framework mandated by RBI (India’s Banking Regulator) for GB and Core CMB.

·                Ensure effectiveness of Operational Risk frameworks via robust Risk Control Assessments, operational processes and internal controls.

·                Work with Risk Owners and Risk Stewards to identify the most material risks impacting the Wholesale business

·                Ensure Control Monitoring is in place for all Controls, aligns with the regional approach and metrics and is adhered to at a set frequency.

·                High quality FLoD reporting into the RMM/Governance Committees etc.

·                Facilitate timely closure of Issues and Actions by their Owners, or extension of target deadlines in advance of the due dates and under correct governance

·                Demonstrate active compliance of "doing the right thing" including speaking up

·                Support Head NFR in governance deliverables including preparing and running the Risk Committees of both Businesses.

·                Closely work with frontline stakeholders, control owners and risk stewards in order to support large Change initiatives from NFR assessment perspective

·                Maintain robust controls that operate effectively and are regularly tested.

·                Leveraging MI/ reviews to proactively identify and highlight potential areas of risk

Impact on the Business

·  Ensure that Wholesale has a robust and compliant Risk and Control Management capability within ‘First Line of Defense’ aligned to the Global model.
·  Implement and maintain effective Risk Management Framework, which adds value to the Wholesale business.
·  Support Wholesale teams in adherence to both internal and external directives from ‘Second Line of Defense’ including but not limited to Compliance, Operational Risk, Information Security Risk, Business Continuity functions.
·  Assess and report on the adequacy of operational risk and control environment.

Leadership and Teamwork

·  Role model and set high standards for performance and behaviour within the team, and create a team environment which is inclusive, motivating and nurturing.
·  Build networks within Wholesale and across functions to provide expertise and guidance to Control Owners
·  Identify and share best practices with business, function and stakeholder, and heighten control standards

Requirements

Educational Qualifications / Certification and Requirements:

Essential:

·  Good understanding of operational risk and controls, preferably gained through experience in front line and risk roles.
·  Good understanding of the Group’s Non-Financial Risk Framework
·  Good understanding of Wholesale Regulatory Compliance and Legal policies and procedures.
·  Good understanding of local regulatory guidelines applicable to Wholesale Banking in India.
·  Knowledge of the changing regulatory environment especially in the financial services sector.
·  Leadership, management and coaching skills
·  Proven problem solving skills with ability to consider alternative and lateral solutions
·  Highly developed communication, presentation and influencing skills set.
·  Ability to priorities and work independently under pressure within a team environment
·  Ability to use strong judgmental skills to identify and resolve complex problems whilst adhering to timelines and quality of output.  

Desired:

·  A sound knowledge of the Group and the WSB business, including products, services, systems & processes.
·  Business experience in a variety of roles (Corporate / Commercial Banking) centered on delivery of high quality customer service.
·  Exposure to an operations and a control environment, such as audit or compliance.

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India