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Assistant Vice President Financial Crime Risk Management
HSBC
Ontario Toronto, , Canada
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Description
Employment Type: Regular
The role holder is responsible for the assisting with and driving delivery of key RBWM strategic change initiatives, in close cooperation with all stakeholders within the country, regionally and globally.
The role is responsible for supporting the delivery of Financial Crime Risk Management Transformation within the RBWM business, including all subsidiaries. This includes working closely with the team responsible for the delivery of the Global Standards Program as well as all related initiatives. A critical component of the position is to ensure that business impact of FCRM-related change initiatives are fully understood and aligned with the impact of other initiatives taking place across the business. The role-holder will be expected to develop and grow relationships with stakeholders across Global Business and Product lines, as well as Global Functions
The role supports delivery of high priority RBWM strategic initiatives
Principal Accountabilities: Key activities and decision making areas
Impact on the Business
• Ensures alignment and seeks active support for the risk transformation agenda from in-Country RBWM colleagues with responsibility for delivery of client experience
• Contributes to the development and communication of a clear vision of the RBWM strategic initiatives for FCRM which are aligned to the overall HSBC vision, Values and goals.
• Inspires and engages people to create an inclusive, high performing, customer-centred culture.
• Implements effective Governance over key initiatives and represents RBWM in senior Governance forums at LOB, Country, and Global levels as required
• Ensures effective execution of projects with strategic alignment to country RBWM with Global imperatives
• Delivers against implementation plans/Strategic Action Trackers and monitor progress against the stated an annual and medium term initiatives and financial targets for all RBWM segments
• Ensures effective communication and understanding of the strategic transformation/agenda across key stakeholder groups
• Influences deployment/ allocation of resources
• Builds the execution capability of the business to ensure delivery of initiatives
Customers / Stakeholders
• Builds close and effective working relationships with key stakeholders: Canadian RBWM (senior management, Other business lines/segments); Global/Regional RBWM; HOST); Global functions;
• Establishes effective mechanisms for decision making and for appropriate escalation of information to Executive management
• Acts as a centre of expertise for implementation of key strategic projects, including ensuring delivery to high standards, ensure world class governance, effective engagement of key senior stakeholders and promotion of collaboration and the application of best practices across RBWM
• Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
Leadership & Teamwork
• Support achievement of the HSBC vision, Values, goals and culture in personal behavior, actions and decision making
• Provide technical leadership and support technical excellence by searching out external best practice, monitoring technical and professional developments, sharing knowledge and encouraging others to do the same in the best interests of HSBC and its customers
• Encourage and enable constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and challenging actions and behaviors that are not consistent with HSBC's diversity policy and/or the best interests of the business and its customers
• Develops critical skill sets in team members and provides a stimulating work environment.
• Lead, motivate and inspire team members to deliver risk transformation, achieve the Group strategy and business objectives
• Be ultimately responsible for the performance management of your team, using relevant performance management tools, ensuring timely action is taken to improve under performance
• Share knowledge, experience and best practices within and outside of immediate team
• Promote a collective culture to spread experience & best practice.
• Take a hands-on approach to coaching with regular & productive use of Personal Development Plans and appropriate follow up.
• Ensure development activities are a core priority and enable all team members to take reasonable time for learning and developmental activities.
• Ensure the team is resourced appropriately, sufficient to meet the demands and opportunities of the business.
• Manage succession for key roles using internal and selective hires where appropriate.
• Live the Group Values.
• 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
• Communicate and adhere to HSBC policy and procedures in order to ensure good operational, financial and project management, policy and procedural compliance and early identification and effective resolution or escalation of issues that arise
• Influence appropriate utilisation of RBWM resources, HOST resources, and IT order book to ensure maximum benefit in delivering the risk transformation agenda.
• Contribute to the design and execution of key governance mechanisms to ensure strategic initiatives are robust, aligned and effectively delivered.
• Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
• Complete other responsibilities, as assigned.
Major Challenges
• Implementing strategic change and risk transformation at pace through effective interaction with multiple, diverse and senior stakeholders against a backdrop of diverse businesses and changing political and regulatory environments can be a challenge. The role holder is expected to work effectively and successfully across a matrix environment to support the delivery of the change agenda.
• The role holder is required to possess a strong strategic mindset and analytical skills in combination with a sound understanding of the RBWM business: key value drivers, proposition mix, delivery channels and customer segments. The role holder needs to be able to quickly analyse complex situations, be dynamic and positive to resolve difficulties and implement solutions that will have lasting positive effect on the business.
• The needs of a wide range of stakeholders must be taken into consideration while proactively balancing RBWM strategic goals with available resources. The role holder must be flexible and able to optimise limited resources to deliver a significant number of transformation projects some of which may need to be deployed on multiple programmes simultaneously.
Role Context
• Going forward, RBWM is keen to deliver on its strategy to attract the right customers who benefit from our international connectivity and strengthen our reputation as the leading international bank. A key priority will be driving balance sheet and revenue growth while maintaining absolute focus and execution of Global Standards, Risk & Compliance to ensure that our conduct matches our values.
• To achieve this, RBWM must transform its way of doing business, with strong emphasis on customer-driven propositions and new income streams, enhanced distribution channels, strengthened sales & marketing capability, robust strategy development and implementation & a keen focus on leveraging our leading international coverage and capability to strengthen our position as the Leading International Bank. This transformation of the business MUST be accompanied by an appropriate transformation of the approach to risk and risk management. The role holder must be a change agent, working with local teams and assists in formulating local strategies for effective, sustainable growth and implementation.
Management of Risk
• Ensure compliance of both general and anti-money laundering and anti-terrorist financing (AML/ATF) compliance controls as well as operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
• The jobholder will ensure the fair treatment of HSBC customers is at the heart of everything we do, both personally and as an organisation. They will also continually reassess the operational 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. Additionally they will ensure they effectively manage sales suitability, money laundering, counter terrorist financing, fraud, and reputational risk.
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring; additionally by addressing any areas of concern in conjunction with line management and/or the appropriate department.
All GCB’s:
• The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation.
• This will be achieved by consistently displaying the behaviors that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
• The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence’. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required.
• Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite.
• The following statement is only for roles with core responsibilities in Operational Risk Management (Risk Owner, Control Owner, Risk Steward, BRCM, and Operational Risk Function
◦ The jobholder has responsibility for overseeing and ensuring that Operational risks are managed in accordance with the Group Standards Manual, Risk FIM, & relevant guidelines & standards. The jobholder should comply with the detailed expectations and responsibilities for their core role in operational risk management through ensuring all actions take account of operational risks, and through using the Operational Risk Management Framework appropriately to manage those risks.
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 Risk and relevant line colleagues, and also by ensuring that actions resulting from points raised by internal or external audits, and external regulators, are correctly implemented in a timely fashion
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.
• The jobholder will adhere to and be able to demonstrate adherence to internal controls. This will be achieved by following 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 implement the Group compliance policy by containing compliance risk in liaison with the Group/Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
All GCB’s:
• The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures.
• The term ‘compliance’ embraces all relevant financial services laws, rules and codes with 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 following statement is only for roles with managerial or specific Compliance responsibilities
◦ The jobholder will implement measures to contain compliance risk across the business area. This will be achieved by liaising with Compliance department about business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
Qualifications
Essential:
• At least 7-10 years of experience within banking and strong knowledge of HSBC products and processes
• University/College degree in business or finance is preferred
• Knowledge of the changing regulatory environment especially in the financial services sector.
• Leadership, management and coaching skills
• Strong interpersonal skills with highly developed capacity to influence senior teams
• Ability to lead, motivate other senior stakeholders, managers across a wide range of stragegic iniatives and agendas
• Highly developed communication, presentation and influencing skills set.
• Proven problem solving skills with ability to consider alternative and innovative solutions
• Ability to prioritise and work independently under pressure within a team environment
• Ability to use strong judgmental skills to identify and resolve complex problems whilst adhering to timelines and quality of output.
• Ability to filter and prioritise multiple demands, resolve conflicts, and develop consensus
Desired:
• Good understanding of the Group and the RBWM business, including products, services, systems & processes preferably gained through experience in front line roles
• Business experience in a variety of roles centered on delivery of high quality customer service.
• Experience of managing and delivering cross-functional programmes
• Knowledge of the changing regulatory environment especially in the financial services sector.
• Experience of senior management responsibility for a team, including the management of team leaders
• Preferably some experience of leading and directing cultural change within a large organisation