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US Head of Regulatory Compliance - New York, NY #4953254


Company: HSBC

Date: 05/18/2018

Category: Internet Services

City: New York, NY

Role Purpose


Discharge the responsibilities as principal risk owner of compliance and reputational risk in the United States (other than in relation to financial crime risks) Note: wherever this role profile refers to “compliance risk” or similar in the following pages, this shall be read as a reference to compliance risks other than those relating to anti-money laundering, counter terrorist financing, counter proliferation, anti-bribery / Anti-Corruption and sanctions compliance which are together referred to as “financial crime risks” and are the responsibility of the Global Head of Financial Crime Compliance and Group MLRO.
To implement strategy, standards, global systems and policies on compliance (other than in relation to financial crime risks) in the United States.
To monitor, track and communicate major proposals for regulatory change and regulatory and law enforcement trends for all areas of compliance risk other than in relation to financial crime. To communicate these proposals and trends to senior management in the United States to support and facilitate a strategic appraisal of those trends as well as relevant opportunities and risks.
To implement the strategic operational objectives for regulatory compliance..
To support the development of the Regulatory Compliance function as a key part of the Group’s “second line of defence” in relation to compliance risk.
Act as a principal point of contact with lead regulators in the United States and to foster good relations with them working collaboratively with the Regulatory Liaison Office.
To work constructively and collaboratively with the United States Head of Financial Crime Compliance to ensure that the resources of RC are fully and consistently directed to manage the overall compliance risks in the United States


Principal Accountabilities


    • Impact on the Business


    • Implement strategies, policies and systems that ensure that the exposure to regulatory and reputational risks in the United States is managed and controlled, in a commercially sensitive, practical and cost effective manner.
    • Assist GHRC and the Regulatory Compliance function in managing all material compliance and reputational issues involving the United States.
    • Provide advice and support on compliance and reputational matters to the management team and functional reports in the United States
    • Ensure RC matters are appropriately escalated to and discussed at the US Risk Management Committees and Global Business management committees in the United States.
      Customers / Stakeholders


    • Reporting undertaken on the United States-wide basis to the RC and/or Regional Risk Management Committees on regulatory compliance and reputational matters.
    • Ensure that senior management are appropriately advised of material compliance and reputational matters.
    • Manage the relationship with regulators in the United States in collaboration with the Regulatory Liaison Office, effectively informing them of relevant compliance matters to ensure that strong relationships are fostered.
    • Ensure that positive relationships are maintained with regulators and other external parties.
      Leadership & Teamwork


    • Implement strategy for the US Regulatory Compliance function aligned to the Group RC strategy, liaising closely with functional reports jointly with local line managers.
    • Maintain and develop positive and professional working relationships with business managers in group, regional and country level as well as in global businesses.
    • Create an environment for the delivery of consistent performance measurement, training, career management and succession planning for Regulatory Compliance in the United States.
    • Implement strategy for sharing of compliance knowledge and best practice across the United States.
    • 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


    • Implement framework for effective risk-based monitoring of the implementation of compliance, policies and controls across the United States.
    • Agree and oversee the monitoring of the adherence to the compliance elements of the Compliance FIM in the United States.
    • Monitor and assess the resourcing, costs and spend of the function in the United States.
    • Assist the development of the Regulatory Compliance function with GHRC as a key part of the Group’s “second line of defence” in relation to compliance risk.
    • To implement the Group compliance policy locally by containing compliance risk in collaboration with the Global Head of Regulatory Compliance and RC Heads for Global Businesses, other regions, HOST and Global Functions, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
    • Complete other responsibilities, as assigned.
      Major Challenges


    • HSBC is an extremely diverse business which is constantly developing both geographically and into new areas of business. Such development takes place in an increasingly regulated and complex global environment with often little consistency between laws and regulations in different jurisdictions and with regulators taking an increasingly aggressive approach in ensuring local compliance with their requirements. It is the role of the United States Head of Regulatory Compliance to assist the Global Head of Regulatory Compliance in achieving a balance between the demands of regulators, external bodies and governmental initiatives and the Group’s shareholders and customers in United States; being alive to the political, management, regulatory and reputational implications of a particular decision and courses of action; assisting management in the development of controls and systems and influencing the way in which the business is conducted in the United States, meeting Group risk appetite set. The increased focus on individual liability for senior managers, particularly risk heads, makes it increasingly important for the Group to be able to evidence adequate systems and controls. The role is one where regulatory authorities have high expectations and is likely to come under scrutiny as part of any major regulatory investigation.
      Role Context


    • The role holder is required to work with considerable autonomy, in managing and leading the Regulatory Compliance function in the United States and establishing the policies and procedures of the Group in managing these risks. This can involve dealing with major issues for which there is no clear cut solution whilst still being able to provide judgment and clear direction. Where items of major consequence are involved, reference is made to the Global Head of Regulatory Compliance as well as the United States Chief Executive Officer. The nature of the role requires close working contact with senior executives across the Group but particularly the US Chief Risk Officer, Regional Heads of RC, the Global Head of Regulatory Compliance, Heads of Regulatory Compliance for Global Businesses, HOST and Global Functions and other RC executive team leaders.
      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.
    • 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.
    • The role holder is responsible for overseeing and ensuring there are effective and relevant compliance and reputational risk standards in place in the United States, with accordance with the Group Standards Manual and ensuring the Compliance policy aspects of the Compliance FIM. Any FIM or Regulatory Compliance policy dispensations must be formally reviewed and agreed by the role holder.
    • Adheres to 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.
    • Role holder is an ‘insider’ for dealing purposes and subject to strict controls and confidentiality.
    • Discharges accountabilities set out in the Regulatory Compliance FIM, pro-actively assisting management in identifying and containing compliance risk; monitoring, reporting and certification; fostering a compliance culture and optimising relations with regulators.
    • Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
      Role Dimensions


    • The jobholder’s responsibilities cover all of the Group’s operations in the United States.
    • Management of Regulatory Compliance function in the United States
    • Management of the Regulatory Compliance team annual AOP budget in the United States
    • The jobholder has functional reports across specialist teams and who provide RC oversight of global businesses in the United States

    Knowledge & Experience / Qualifications


    • Significant experience as a regulator, senior compliance manager or equivalent within a global firm, in the financial services industry.
    • Detailed and extensive knowledge of the HSBC Group structure, its business and personnel, and HSBC’s corporate culture.
    • Significant leadership experience and an experienced strategic thinker.
    • Excellent communication and inter-personal skills, with experience of dealing with executives at all levels.
    • Ability to develop practical, cost effective solutions to complex global issues.
    • A legal or formal accountancy qualification or background in one of these a risk or audit discipline.

    EEO/AA/Minorities/Women/Disability/Veterans


Job: *Risk Management


Title: US Head of Regulatory Compliance


Location: New York-New York


Requisition ID: 0000AW09


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