Job Description

Job description

Some careers grow faster than others.

If you\xe2\x80\x99re looking for a career that will give you plenty of opportunities to develop, join HSBC and your future will be rich with potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

Wealth and Personal Banking is our new global business combining Retail Banking and Wealth Management; and Global Private Banking, to become one of the world\xe2\x80\x99s largest global wealth managers with USD1.4 trillion in assets. Across Asia, where wealth pools are growing faster than in any other region, HSBC\xe2\x80\x99s wealth revenues grew 12% in 2019 (year-on-year) to USD5.7 billion. Our dedicated colleagues serve millions of customers worldwide across the entire spectrum of private wealth, ranging from personal banking individuals and families, through to business owners, investors and ultra-high-net-worth individuals. We provide products and services such as bank accounts, credit cards, personal loans and mortgages, as well as asset management, insurance, wealth management and private banking, that best suit our customers\xe2\x80\x99 needs.

We are currently seeking a high calibre professional to join our team as a Head of Risk and Compliance Singapore.

Principal Responsibilities

This Country Head of Risk & Compliance (CHRC) role is the primary point of accountability for the oversight of risk and compliance across all of the new venture\xe2\x80\x99s activities within the market. The role will own the risk outcomes associated with the new venture and be responsible for applying the business\xe2\x80\x99s risk appetite. The CHRC will create a country risk view and will be ultimately accountable for the adequacy of risk management systems and controls, risk analysis, internal management information and external reporting in relation to risk and the risk training provided in the new venture.

The end-to-end accountability includes risks in relation to operations, compliance, people, legal, information, fraud, cross-border activity, reputation and brand as well as financial controls and financial exposure; whether those risks originate within the activities and operations managed directly by the new venture.

Principal Accountabilities and Responsibilities (e.g., for Business, Customers and Stakeholders; internal control environment, etc.)

Leadership

• Leading and advising the new venture country Leadership on all aspects of risk and risk management and driving the business to take action to mitigate all significant and strategic risks facing the business
• Ensuring that members of the new venture leadership and all senior managers receive appropriate risk awareness and management training
• Act as the point of contact for regulatory bodies in matters of licensing and general conduct of business
• Managing challenging senior stakeholder situations across a regional and functional remit in a credible and culturally aware manner and supporting clear and effective lines of communication at all levels
• Managing internal and external audits of the new venture business, as appropriate own and/or support all regulatory submissions and meetings

Governance

• Supporting the new venture Global Chief Risk Officer to understand key risks and compliance matters within country, including through advice on new products, businesses and technologies, and any changes to regulations
• Establishing and maintaining effective arrangements to ensure that risks are being effectively managed to the new venture\xe2\x80\x99s expectations and providing adequate information to the new venture and ensuring that the data used by the new venture to assess its risks are fit for purpose in terms of quality, quantity, and breadth
• Representing your market in the new venture risk forums to present views and secure outcomes that enable the new venture to deliver its business objectives, and creating and maintaining a network amongst senior stakeholders to enable the new venture to benefit from knowledge of best practice, risks and experience in those other functions and wider WPB

Risk Stewardship

• Driving oversight, challenge and validation of the new venture\xe2\x80\x99s risk management systems and controls and internal and external reporting of risk, including adherence to accepted industry-standard methodologies, practices, processes, and principles
• Controlling business 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
• Providing the new venture with expert knowledge and an aggregated assessment of all the risks faced by the business
• Responsible for ensuring risk processes operate effectively in each area of the new venture operations via ongoing monitoring and formal reviews. Ensure implementation of audit recommendations and maintaining satisfactory level of audits as required
• Being responsible for ensuring that all staff activities comply with regulations and auditory requirements and that there is organisational compliance with all relevant internal rules, regulations and procedures that apply
• Ensuring consideration and communication of risk adequately articulates both conduct risks for customers and financial risks for the business, and that operational risk management focusses on customer outcomes and end to end delivery for customers
• Provide support for license applications, as necessary

Financial Crime Management

• Act as the country Money Laundering Reporting Officer (MLRO) for the business
• Ensure compliance with country-specific AML-CFT laws and regulations by establishing, implementing and maintaining appropriate systems and controls
• Identify, assess, and monitor money laundering, terrorist financing and other applicable financial crimes risks and submit Suspicious Activity / Transaction Reports (SAR / STRs) to the designated authority

Leadership & Teamwork

• Responsible for building, leading, and delivering a \xe2\x80\x98best-in-class\xe2\x80\x99s Risk & Compliance team within the new venture
• Providing leadership at the new venture country executive team to ensure that there is evidence of risks being considered fully in strategic choices made by the new venture and of engagement with risk management principles
• Working effectively with the new venture Executive and Leadership Teams and relevant Regional Risk leadership teams, including contribution to the activities to join up the Global Risk function
• As part of the leadership team of the new venture, supporting and driving staff engagement, training, development, and retention initiatives across the region, in line with group guidelines
• Build and maintain a strong network of risk and compliance specialists around the new venture

Functional Knowledge

• Strong technical knowledge of risk associated with retail multi-currency operations, payment and cross- environments border transactions, as well as digital banking models and digital wallets
• Strong understanding of the risks that arise in on-shore and off-shore financial services operations and in technology dependent
• Strong understanding of regulatory context and risks in financial services business in retail markets and good knowledge of the regulations relevant to the new venture business
• Strong knowledge of risk management tools and techniques

Requirements

• Experience in compliance and/or a professional background (legal, risk, audit, consulting) or with regulatory bodies
• Strong academic background, with advanced critical thinking and reasoning skills. A university degree and / or anti-money laundering and/or compliance related qualification (e.g., International Compliance Association (\xe2\x80\x9cICA\xe2\x80\x9d) or Association of Certified Anti-Money Laundering Specialists (\xe2\x80\x9cACAMS\xe2\x80\x9d)) highly desirable
• Demonstrated ability to work collaboratively
• Proven leadership skills in a changing environment \xe2\x80\x93 including successful experience of implementing new risk management arrangements
• Experience of dealing with regulatory bodies at a senior level
• Experience of working with digital only businesses and Fintech\xe2\x80\x99s, with ability to balance establishment of compliant risk environment with seamless customer experience competitive to the Fintech\xe2\x80\x99s

Skills

• Able to demonstrate actions and an understanding in working in the best interests of the customer
• Excellent written and oral communication skills, including effective presentation and coaching
• Excellent relationship management and diplomacy skills, ability to influence and negotiate effectively
• Collegiate, solutions focused attitude
• Skilled decision maker, able to stand firm and show necessary flexibility where required

To be considered for this role, the relevant rights to work in Singapore is required.

You\xe2\x80\x99ll achieve more when you join HSBC.

www.hsbc.com/careers

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Issued by The Hongkong and Shanghai Banking Corporation Limited.

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