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Compliance is a global function that brings together all aspects of regulatory and financial crime risk management. Acting as risk stewards, and incorporating a range of specialist teams, we work together with the business and leverage advanced technology to help HSBC navigate a complex regulatory landscape and embed a sustainable approach to compliance risk management that supports safe growth and serves customers fairly. Compliance aspires to continuously raise the bar and set leading standards across the industry to help HSBC safeguard its customers and the communities within which it operates.
We are currently seeking a high calibre professional to join our team as a Senior Compliance Advisory Manager, AMG, ASP
. Principal Responsibilities
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.
The Senior Compliance Advisory Manager, Asset Management (AM), Asia Pacific (ASP), is a key staff member and risk management role responsible for ensuring that HSBC Asset Management (AM)’s operations in Hong Kong and ASP are effective in identifying, managing and mitigating regulatory and financial crime compliance risks and ensure timely advice is provided to the business.
The responsibilities of the Senior Compliance Advisory Manager, AM, ASP are to:
- Provide advisory services and support to AM Hong Kong business to comply with applicable regulations and internal policies and procedures, as required
- Partner with regulatory change and other regulatory subject matter experts (SMEs) to understand new and revised regulatory requirements, including codes and guidelines, ensuring any changes and impact is disseminated to the appropriate Business stakeholders
- Ensure the provision of quality, timely and accurate guidance on established internal guidelines and external regulations
- Ensure AM Hong Kong business develops and maintains the highest compliance standards by assisting the implementation of relevant global and regional compliance policies and procedures.
- Work with Business and other Risk Stewards on business related projects / initiatives, to assess potential compliance impacts and ensure that any new products / services are aligned to HSBC standards and meet all the necessary regulatory compliance requirements and ensure that the business is conducted in accordance with all applicable laws, rules, regulations and internal policies
- Be responsible for Second LOD governance of compliance risk exposure, providing analysis, reporting and governance to Business and Compliance senior management independent of the First LOD thereby maintaining an objective assessment of risk exposure
- Provide risk steward challenge and act as independent trusted advisory function in governance forums and issue management process, fostering a compliance culture and optimizing relations with risk owners and control owners
- Provide oversight on regional compliance risk profiles, work with AM ASP Compliance teams to ensure timely identification, assessment, reporting and mitigation of compliance related risks/issues and regulatory changes
- Provide compliance support to regional and global business projects as well as group-wide compliance projects
- Work with internal business and group-wide compliance stakeholders at local, regional and global levels
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
- Provide advice and support on compliance risks to senior management and other colleagues
- Serve as a point of contact for the AM HK business in relation to regulatory compliance matters pertaining to established internal guidelines and external regulations, including interaction and support to AM business
- Oversee the critical compliance policies and systems that impact AM HK and ensure that the AM’s exposure to regulatory compliance risks is managed in a commercially sensitive, practical and cost-effective manner
- Actively review business processes and supporting systems and controls within the Business and drive through amendments, as required
- Provide clear, concise, consistent and constructive advice to the Business
- Support Head of Compliance Advisory, AM, ASP in demonstrating proactive compliance risk stewardship
Customer / Stakeholders
- Report to Head of Compliance Advisory, AM, ASP on regulatory compliance risk related matters
- Ensure that senior management are appropriately advised of regulatory compliance risk related matters relating to AM HK
- Ensure that positive relationships are maintained with other external stakeholders relevant to the Compliance agenda
- Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets
Leadership and Teamwork
- Support Head of Compliance Advisory, AM, ASP to develop the Compliance Function for AM HK and ASP
- Work collaboratively and ensure open communication with business partners at all times
- Foster strong and professional relationships with senior management within AM Business and Compliance colleagues in HK and ASP
- Demonstrate core behaviours and values including teamwork, focus, drive and determination
Operational Effectiveness and Control
- To assist Business in its responsibility for complying with all relevant regulations, including the provision of advice on compliance issues
- Keep management informed of regulatory changes and assess the impact on relevant business activities
- Agree and oversee the implementation, embedding and monitoring of the adherence to the Compliance Functional Instruction Manual (FIM) of AM HK
Management of Risk
- This will be achieved by ensuring all actions take account of the likelihood of Compliance risk occurring and by addressing any areas of concern in conjunction with line management and/or the appropriate department. The jobholder should consistently display behaviours that form part of the HSBC Values and Culture and adhere to HSBC risk policies and procedures
Observation of Internal Controls
- The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures
- The term “compliance” embraces all relevant financial services, laws, rules and codes which the business has to comply. This will be achieved by adherence to all relevant 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 also implement measures to contain compliance risk across the business area and ensure adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators
Local Job Requirements
HSBC is an extremely diverse business with significant geographical spread and activities that span a universal banking model, including continuing to innovate to keep abreast of changes in financial services markets globally. Such activity is in an increasingly regulated and complex global environment with often little consistency between laws and regulations in different jurisdictions and regulators taking a far more proactive approach in ensuring local compliance with their requirements and imposing increasingly stringent sanctions for breaches.
The jobholder is required to ensure the consistent application of the highest risk management standards notwithstanding the complexities of products and business operations in AM. The role holder will need to identify, plan and implement change programs to ensure that AM remains in line with regulatory requirements.
You’ll achieve more when you join HSBC. http://www.hsbc.com/careers
- A degree holder with extensive compliance advisory experience in the Financial Services Industry / Asset Management business
- Comprehensive knowledge of SFC rules applicable to asset management business and ability to interpret and assess regulations and their impacts
- Practical knowledge and experience in relation to asset management business and a strong ability to analyse, understand and provide timely compliance advice to the business
- Detailed knowledge and understanding of regulatory compliance function activities
- Experience of dealing with regulatory matters and confident interaction with Regulators
- Excellent communication, report writing and inter-personal skills, with experience of dealing with executives at all levels
- Confidence to interact with and influence senior management and peers
- Ability to develop practical, cost effective solutions to complex global issues
- Willingness and ability to adapt and take on ad hoc tasks, as and when required
- Experience of working within a matrixed environment preferred
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Issued by The Hongkong and Shanghai Banking Corporation Limited.