Vice President Compliance Assurance

Job description

Job description

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Business Descriptor:

The 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 Regulatory and Financial Crime Compliance 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 Compliance function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group’s risk framework. Compliance ensures adherence to applicable regulations and standards by setting the policies which cover HSBC’s regulatory requirements, and mitigate conduct and reputational risk issues. The team strives to remain ahead of the regulatory change agenda and ensures the business understands the implications and is prepared for change. It monitors how the Global Businesses and Functions manage their responsibilities with regard to complying with the regulations and helps resolve compliance deficiencies.

We are currently seeking a high calibre professional to join our team as a  VP Compliance Assurance.

Job Introduction

This is a role within Compliance Assurance (CA), which provides assurance activities over regulatory compliance (RC) and financial crime (FC) risks.

The role contributes to the global standardised CA approach ensuring that it is aligned to the bank’s Risk Management Framework (RMF). It is responsible for contributing to the delivery of end-to-end assurance work over RC and FC risks and controls. The role holder is a subject matter expert on assessing the effectiveness of risk management activities to meet industry standards, country regulatory obligations and bank policy. 

The role holder will be required to lead and contribute to assurance reviews across multiple Global Businesses/ Functions for HSBC India (INM) and manage effective relationships with key stakeholders and colleagues.

Principal Responsibilities

Impact on the Business

·       Support the design and execution of assurance activities, ensuring that all relevant standards, policies and procedures are met.

·       Provide subject matter expertise to and advise colleagues, supporting the identification of appropriate review scope and delivery of assurance activities.

·       Inform Risk Owners, Control Owners and Risk Stewards of the design and operational effectiveness of the controls within their area of oversight and control.

·       Escalate significant control deficiencies in a timely manner.

·       Proactively identify key emerging compliance risks across the Global Businesses/ Functions.

Customers/Stakeholders

·       Build strong relationships with all internal stakeholders, adopting a cohesive approach to the execution of tasks with minimum conflict.

·       Develop/maintain positive and professional relationships with external stakeholders, while ensuring the independence of the assurance function.

·       Provide stakeholders with timely, concise insight into assurance activities.

·       Drive the provision of consistent MI on the issues identified through CA activities.

Leadership & Teamwork

·       Support the production of high quality CA deliverables, through effective quality control at each stage of the CA review life-cycle i.e. Terms of Reference issuance, fieldwork completion and reporting.

·       Demonstrate effective teamwork, engagement and collaboration within CA.

·       Set the highest standards through personal behaviour and interaction with others.

Operational Effectiveness and Control

·       Support high operational standards within the team, avoiding high risk findings from Internal Audit or other internal/external Assurance teams.

·       Be innovative in executing all responsibilities, providing solutions to complex issues in a high-risk environment.

·       Through effective analysis of key information, support the identification and communication of emerging trends that may impact the effectiveness of CA.

Requirements

·  Extensive RC and/or FC knowledge, with some experience in assurance or testing activities
·  Relevant external financial services qualification
·  Clear understanding of regulatory and/or financial crime compliance risk within the global financial services industry
·  Capable of building positive and resilient partnerships with key stakeholders  
·  Lateral thinker with an ability to interpret and solve complex issues
·  Excellent communication skills with very strong inter-personal and influencing skills
·  Track record of working autonomously
·  Decision-making capability
·  Strong English language skills (written and spoken)
·  Minimum Graduation or as required for the role, whichever is higher

Useful Link

Link to Careers Site: Click   HERE  

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India