At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.
Serves as a Local Compliance Officer for Businesses in Markets with focus on Credit and Debt Markets as well as Markets Treasury, providing regulatory compliance expertise and guidance in an advisory capacity to senior management in support of strategic initiatives and management of compliance risk. This individual generally works under the direction of the SVP LCO US Head of GDM Compliance, but is expected to act with a great deal of autonomy.
Develops and maintains appropriate compliance policies, programs, and controls for area(s) of responsibility, with minimal supervision. The VP LCO works proactively with the business lines/global functions/HSBC senior management, Business Managers and Control Officers, and other compliance professionals to ensure that best practices and systems are in place to ensure compliance enterprise wide and meet regulatory expectations. General areas of responsibility include advisory on regulatory matters, monitoring of business activities from a compliance perspective, training and education, drafting and revising policies and procedures, working on exams and inquiries and risk stewarding the business led assessments. The VP LCO may also be assigned to serve as regulatory coordinators for specific regulations.
Customers / Stakeholders
Maintains good working relationship with business and senior management in line of business or global function assigned.
Advises business management and the BRCM function to ensure that appropriate compliance programs, policies, procedures, and other controls are in place and operating effectively and satisfy supervisory obligations.
Reviews regulatory feedback and customer responses to ensure that compliance issues raised in feedback are appropriately responded to and necessary corrective actions are initiated.
Liaises with the relevant Internal Audit, and with control functions (e.g., Finance, Credit, HR, Corporate Secretary's Office, Tax and Security), in relation to compliance matters including the provision of technical support and guidance.
Discusses compliance risk reports, issues and KRIs / KPIs with appropriate business management and other appropriate parties at least monthly performed through a line of business risk management committee or other governance forum (e.g., ORIC, Private Bank Compliance Committee).
Provides on-site business unit support during compliance-related regulatory examinations.
Monitors the status of any material compliance issues identified and reported by CTAC, Compliance Inspection Unit (CIU), BRCM, regulators or Internal Audit and provides updates to business unit management and Compliance senior management as necessary.
Leadership & Teamwork
Provides project support, as requested, on compliance-related projects and initiatives.
Operational Effectiveness & Control
Coordinates regulatory matters, including examinations, inquiries and investigations.
Reviews business unit incidents and exceptions to assess compliance and/or reputational impact; which may include reviewing, advising and approving any required remedial action plans; and ensuring proper reporting, tracking and resolution of action plans that address compliance deficiencies.
Assists in preparing an annual plan for areas of responsibility that adequately reflects these accountabilities, the compliance risks (including money laundering risks) in the area and the resources needed to do the job. Agrees to the plan with their CEO and functional managers.
Advises business units as they conduct Compliance Detailed Self Assessments (CDSAs) and the development of appropriate mitigating controls/action plans. Assists in completing the Enterprise-wide Risk Assessments (ERAs), as well as any relevant functional risk assessments for respective business unit and Compliance.
Assists in drafting, editing and maintaining LCO Compliance team procedures for area of responsibility.
Escalates any significant compliance issues and trends to business unit senior management, HNAH Compliance management and Group Compliance.
Provides support, in conjunction with business line management, in developing and maintaining processes to monitor and report on the effectiveness of the first and second line of defense against compliance risk at the business unit-level. Provides adequate reporting and MIS regarding Compliance related activities and initiatives relevant to the business and its operation.
Completes Monthly LCO Reports in accordance with the centralized reporting processes established by MIS Strategy.
Helps implement 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.
Maintains a compliant business in light of the challenging regulatory environment.
Balances the increasing demands placed upon the business by the introduction of new or revised regulatory requirements.
Operates effectively under the pressure of deadlines, constant regulatory oversight, and business unit performance.
Helps ensure future business growth is attained in a responsible and conscientious fashion while the operation remains regulatory compliant and commercially sound.
Sets priorities and makes day-to-day decisions independently.
Escalates matters to senior management as appropriate.
Communicates effectively and professionally, and conveys the key information needed to ensure compliance goals are met.
May serve as a subject-matter expert for specific regulations, regarding its purpose and legislative history, remaining aware of changes to the regulation or to applicability of the regulation to the businesses in the US. If responsible for a specific regulation, the position will serve as the central point of contact for US Compliance and oversee the accuracy of the information regarding the regulation in the risk assessment tools while serving as the advocate for consistency for controls.
Management of Risk
Ensure 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 Firm's Statement of Business Principles and Code of Ethics.
Provides compliance advice to assigned area to help ensure an appropriate culture of compliance continues to develop in the daily activities of the front line and support units.
Ensures delivery of effective compliance reviews and advice on new and revised business strategies, initiatives and projects for assigned area.
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.
Ensures alignment with regulatory requirements, HNAH's Enterprise Compliance Policy and Program, the CRMP Manual and other Group policies.
HSBC was born from one small idea: a local bank serving international needs. We started our business in Hong Kong in 1865. In 2015, HSBC celebrates its 150th year anniversary. Over the years, HSBC grew through expanding its branch network, offering new products and establishing its own investment banking arm.
We aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people fulfill their hopes and realize their ambitions.
• Located in 72 countries and territories
• Serving around 48 million customers
• Supported by over 268,000* people
• Head office in US is New York City
We aim to be dependable, open and connected in everything we do. We want to ensure that our employees feel able to stand up for what is right, highlight potential risks and act with integrity, even when faced with pressure to act otherwise. By doing so, we will be able to meet expectations of society, customers, regulators and investors. To make sure everybody at HSBC lives up to these values, they are a part of everyone's annual performance review.
At HSBC, you will find that we are dependable, o...pen to different ideas and cultures, and connected to customers, communities, regulators and each other. Our culture has a family feel to it – our employees are encouraged to work together to reach a common goal. This idea is supported and encouraged at the leadership level and passed down.
Our size and global reach mean more opportunities for you to grow your career with us.
We are looking for forward-thinking, driven, perceptive candidates to help our customers realise their hopes, dreams and ambitions.
This means people who are dependable, open to different ideas and cultures, and enjoy being part of a team; people who have the potential to become the future leaders of HSBC.
We encourage you to drive your own development and build your network within your office and around the world.
We provide the opportunities for you to connect with customers, colleagues and the communities in which we operate.