AVP, Regulatory Conduct, Compliance GSC’s

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HSBC is one of the largest banking and financial services organizations in the world, with operations in 62 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realize their ambitions.

We are currently seeking an experienced professional to join our team in the role:: AVP, Regulatory Conduct, Compliance

The Opportunity:

• The role of a Regulatory Conduct compliance officer involves three distinct responsibilities.
• Regulatory Affairs
• Scan for legal and regulatory instruments issued by relevant authorities, including laws, subsidiary legislations, directions, guidelines, codes, practice notes, circulars and information papers.
• Prepare the legal and regulatory instruments received for dissemination within the day e.g. summarise the information, propose risk rating, applicability review etc.
• Coordinate the gathering of feedback to Consultation Papers that impact across the Bank, which entails consolidating, reviewing and clarifying the feedback as well as proposing amendments to improve the quality of the feedback.
• Update regulatory tracker with information of the latest instruments issued and assess the impact to the Global Businesses, Global Function and DBS.
• Update the compliance chart and regulatory mapping with the latest regulatory developments.
• Prepare periodic and ad hoc MI for reporting to the relevant bodies e.g. SGH Compliance Risk Forum, Risk Management Meeting (RMM), ASP Conduct Update, etc.
• Track and disseminate changes in HSBC policies as well as initiate periodic reviews.
• Conduct Annual certification of entity licensing for all HSBC entities in Singapore.
• Update relevant Department Instruction Manuals (DIMs).
• Create and maintain records in the RAPID2, ENGAGE system and relevant systems. Participate in new system implementation, including scoping, user acceptance etc.
• Follow up on ad-hoc queries, and follow through on actions arising from reviews.
• Regulatory Engagement
• Arrange and coordinate meeting details with Regulators and internal stakeholders.
• Provide support in bank-wide submissions for requests for information.
• Follow up and track updates on past follow up actions for senior management and the Board of Directors.
• Maintain primary regulatory contact list as well as MAS contact list.
• Regulatory Conduct, ESG
• Support Group and Regional conduct programmes.
• Prepare and periodic and ad-hoc reporting.

What you’ll do:

Principal Accountabilities:Key activities and decision making areas

The following principal accountabilities are aligned to the Compliance Services and Processes Model. Additional detail is available in the Model.

Impact on the Business / Function

• To promote and sustain a risk-management culture in alignment with Regulatory Compliance's role as the second line of defence.
• To provide advice and guidance which enables the onshore RC to manage regulatory risk effectively, and to escalate more complex queries in a timely and seamless manner.
• To proactively identify and support in the management of significant new or emerging risks, and their potential impact on HSBC.
• To track the resolution of subsequent risk management actions as appropriate.
• Defining and adopting best practice through collaborating with our key business partners to enable the highest operational standards.
• Supporting RC to review periodic or ad-hoc reports or information provided to SGH Regulatory Compliance and to take necessary actions if required.

Customers / Stakeholders

• Work / Liaison closely with relevant stakeholders in their respective onshore Businesses and Functional teams to provide expertise and support on all Regulatory Compliance related matters.
• Build strong relationships, adopting a joined up approach, to execute processes at pace and with minimum conflict.
• Ensure that the business operates using accepted industry – standard methodologies, practices, processes and principles
• Ensure the appropriate timely and relevant risk information is provided to onshore Businesses and Functional teams.

Leadership & Teamwork

• A strong team player to collaborate with RC onshore teams, business partners, HOST and Global Functions areas to ensure commonality and consistency
• Share best practice with onshore RC teams.
• Drive a high performance culture through delivering standards, collaboration and effective people interaction
• Agree responsibilities within formal and informal network, providing context, direction and confidence to deliver results
• Maintain and develop positive and professional working relationships with business units at the Country level.
• Support and encourage constructive teamwork by demonstrating collaboration and matrix management in action.
• To share insights on repeatable business queries and escalate complex queries in a timely and seamless manner.

Operational Effectiveness & Control

• Resolve any identified issues promptly, and escalate concerns as appropriate to ensure timely awareness of any material concerns
• Maintain and observe all HSBC control standards and implement and observe the Group Compliance Policy.
• Consistently apply policy and governance frameworks, procedures, practices and standards to ensure quality, effective regulatory compliance advice and guidance;
• Support the continuing development, implementation and improvement of the processes, capabilities, capacity and infrastructure needed to effectively manage RC risks in a changing environment.
• Maintain awareness of operational risk within assigned portfolio and minimize the likelihood of it occurring.

2. ENGAGEMENT AND LIAISON:

Impact on the Business

• Point of contact within Compliance.

Customers / Stakeholders

Internal

• Business Facing Compliance Officers
• Heads of HOST and Global Functions and Business heads

External

• None

Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)

• Complexity of the regulations on the one hand, the diversity of business and geographies within Singapore on the other hand, and achieving a balance between the demands of the regulators, external bodies and governmental initiatives and the Group’s shareholders and customers; highly aware of 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 Singapore. Risk is forward looking. The incumbent would implement change programmes to ensure that the FC Sanctions remains in line with regulatory requirements across SGH and its subsidiaries.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.

Role Context (The environment and operating conditions of the role including the extent of guidance and authority)

• The jobholder is required to work independently and in a team. Where items of major consequence are involved, or where there is disagreement on a significant issue, the jobholder should refer the issue to the Head of Regulatory Affairs and Conduct in HBAP SGH.

Management of Risk (Operational Risk / FIM requirements)

• The role holder(s) must be able to work in a safe and structured way in order to drive a strong RC risk management culture. This will be achieved by:
• Continuously reassessing risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• Ensuring all actions take account of the likelihood of operational risk occurring, addressing areas of concern in conjunction with relevant business and functional teams.
• Ensuring the fair treatment of our customers is at the heart of everything we do, both personally and as an organization.

Observance of Internal Controls (Compliance Policy / FIM requirements)

• The jobholder will adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant policies and procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. The jobholder will implement the Group compliance policy by containing compliance risk in liaison with the relevant Compliance Department. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. This will be achieved by adhering to all relevant processes/procedures and by liaising with 1LOD (First Line of Defence) and 2LOD (Second Line of Defence) stakeholders about new business initiatives at the earliest opportunity. Also and where applicable, ensure adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. in USD’000)

• The role covers the Regulatory Conduct responsibilities within HBAP SGH. The responsibilities may change from time to time according to directions from the Group, Region or authorities and not limited to those described in the Role Purpose.