SVP Compliance Officer (LCO)- Global Research

Job description

Discharges Compliance Officer accountabilities by pro-actively assisting management in identifying, containing and mitigating compliance and reputational risk, monitoring business activities, facilitating regulatory reporting and certification, fostering a compliance culture and optimizing relations with regulators.
Provides support to the Global Research business (‘business’), by advising and guiding on all compliance related matters, , as well as providing support in the same manner, to the other the Global Banking & Markets Compliance functions.
Advises on regulatory and reputational matters, monitors business activities, trains business staff and develops and/or revises policies and procedures.
Coordinates and integrates portions of the US Global Research compliance program, including its standards and best practices across the Americas, to facilitate proper regional and where necessary, global alignment.
Directs regional compliance staff on matters concerning business policies and procedures, regulatory matters including new rule proposals, existing and new research products as well as research analyst activities.
Pro-actively works with business management, BRCM, and other compliance officers to ensure that best practices and systems are in place to facilitate the Global Research business and the overall success of HSBC in accordance with both the spirit and letter of applicable laws, rules, regulations and internal policies.
Responsible for the leadership and management of related staff.
 Impact on the Business
 Assists the Head of GBM Compliance in executing the overall compliance strategy.
Maintains awareness of industry best practices, standards and requirements as it relates to the management of compliance risk and communicates this information to the business and throughout the Compliance function.
Provides leadership and guidance in execution of the Global Research Annual Compliance Plan, as articulated in the Compliance FIM.
Provides compliance advice and guidance to business management on business-related decisions, new business, product initiatives and activities.
Performs an advisory, monitoring and training role to support business management with their efforts to achieve compliance with both the letter and spirit of government and self-regulatory organization rules and regulations, as well as with Group and Firm policies.
Advises global Compliance and business staff on business-related issues as well as special projects/initiatives which must account for or consider U.S. and/or regional regulations and best practices.
Manages compliance responsibilities for interaction between the business and other divisions within the broker dealer as well as affiliates.
Develops and manage annual training plan.
Participates on various business and governance committees.
Reviews new vendor relationships for the business, as well as provide ongoing risk assessment reviews.
Represents Compliance function as a member of various business and governance committees.
Customers / Stakeholders 
Maintains good working relationship with business, internal control and senior management stakeholders.
Educates business management and staff on new and changing regulations, policies and industry standards and best practices.
Partners with business management to mitigate compliance risks; implement compliance controls to prevent breaches of relevant policies and procedures.
Liaises with business managers, the Global Research BRCM and Business Control Committees to support first line of defense efforts and responsibilities.
Advises second and third lines of defense of dates of inspections by local regulators and provide them with reports received.
Works with Compliance Training & Outreach Office to coordinate outreach efforts to lines of business/corporate functions about Compliance procedures, regulatory and technical/procedural updates, while reinforcing HSBC's vision to be "Connected to customers, communities, regulators and each other."
Leadership & Teamwork 
Provides project management support on compliance-related projects and initiatives to ensure they progress toward a common goal in alignment with agreed timelines.
Provides leadership and guidance in the development and review of the GBM Compliance Annual Compliance Plan for the areas of coverage, as articulated in the Compliance FIM.
Manages staff, directing day to day focus and responsibilities.
Trains and mentors team on regulations and industry best practices and the application of such to business activities. Further, the manner in which to effectively communicate compliance related requirements and best practices to the business.
Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control 
Maintains a proper level of awareness of regulatory changes impacting the business; ensures appropriate communication and development of policies and procedures.
Maintains a current knowledge of compliance-related industry initiatives pertaining to areas of responsibility and best practices.
Coordinates regulatory matters, including examinations, inquiries and investigations as it relates to Global Research.
Manages and assists in drafting, editing and maintaining written policies and procedures.
Reviews and confirms the results of the Compliance Detailed Self Assessments, as well as Enterprise-wide Risk Assessments, for respective business unit and Compliance.
Implements the Group compliance policy locally by managing compliance risk in liaison with the Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
Complete other responsibilities, as assigned.
Major Challenges 
Maintaining a compliant/high morale Compliance department in light of an increasingly and heavily regulated environment (which at times may be competing and/or conflicting in nature) and corresponding demands on personnel.
Under an increasingly and heavily regulated environment, ensuring that the business line is compliant with all applicable laws, rules, and regulations.
Helping to ensure that the operation remains regulatory compliant as the business grows.
Ensuring that the compliance officers covering the business (US, Americas and Global) as well as business management and their respective staffs are kept abreast of all applicable rules, regulations, best practices, and department requirements.
Operating efficiently and effectively under the pressure of business and compliance related deadlines and constant regulatory oversight.
Sharing ownership with business leadership team in the ongoing advancement of a positive compliance culture through cultural transformation.
Business activity is being compliance and risk assessed properly and in a timely manner.
Role Context 
Senior level compliance officer with strong leadership qualities who has the ability to communicate in an effective manner
Role is based in NY with regional (Americas) coordination and oversight responsibilities
Periodic travel to regional business offices for meetings with LCOs and to conduct compliance training for business staff on Firm and Global Research policies, procedures and best practices. Global Research Offices in the Americas, outside of the United States, are located Brazil, Mexico, Argentina and Canada.
Advise global Compliance and business staff on business-related matters and special projects/initiatives which must account for or consider U.S. and/or regional regulations and industry best practices.
Account for application of extra-territorial regulations on business conducted in the US.
Sets priorities and makes day-to-day decisions independently.
Escalates matters to senior management as needed.
Participation in industry and working group meeting
May provide compliance support, advice, and guidance to the CCO of HSBC Bank USA, N.A. and the GBM Global Markets businesses in connection with Titles VI (Volcker Rule) and VII (swap dealing activities) of the Dodd-Frank Act as it applies to each area of Compliance coverage. Ensuring that rules and regulations applicable to HSBC Bank USA N.A. as the CFTC registered Swap Dealer will be considered and their requirements incorporated in the Compliance officer’s overall day to day job responsibilities. This includes, but is not limited to, updating policies and procedures, line of business reviews, training, surveillance, registration obligations, regulatory reporting and risk assessments, and escalation of any potential issues of non-compliance to the CCO. Work with GBM line managers to see that they are informed of the Dodd Frank related requirements and assist them to implement these requirements in the GM business.
Management of Risk 
Ensure employees apply compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues., The physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
Physical Demands/Work Environment: Very good working conditions. Little or no physical demands. Minimal handling of light materials. The physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
Adheres to the HNAH’s Statement of Business Principles and Code of Ethics.
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.
As appropriate for the role, ensures alignment with regulatory requirements, the Compliance FIM, HNAH’s Enterprise Compliance Policy and Program, the CRMP Manual, HNAH’s BSA/AML Policy, other Group policies and all related policies and procedures.
Communicates control weaknesses to other group leaders and business management in accordance with issue escalation procedures.

Desired profile

Strong background in Compliance within a large, complex financial services institution.
Ability to understand, interpret and apply complex regulatory requirements to business practices.
10 years Compliance experience with a primary focus on research related products, services, and activities.
5 years of supervisory/management experience.
Bachelor degree in related field (graduate degree strongly preferred).
Subject matter expertise and extensive experience in advising business partners on SEC, FINRA, NYSE and CFTC Rules as well as industry best practices concerning research analyst activities and research reports.
Strong written and verbal communication and presentation skills.
Strong analytical and organizational skills.
Proactive and independent.
Ability to meet multiple deadlines.
Series 7, 63 and 24 preferred
EEO/AA/Minorities/Women/Disability/Veterans