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Assistant Vice President Senior Regulatory Compliance Officer, Equities, Derivatives and Futures or Fixed Income
HSBC
New York, NY, United States
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Description
Surveillance roles are responsible for the identification and management of undesired risk activities including conduct risk and financial crime risk. They are responsible for integrating prescribed and required forms of surveillance in the business, complimentary to existing process/systems.
The key area of focus will be the implementation of the conduct surveillance and analytics strategy across Business Line(s) in order to identify misconduct of our staff and our counterparties.
Role holder will carry out activities which will include most of the below:
• Identify potential new forms of staff or counterparty misconduct.
• Determine whether these could be identified through the surveillance team’s current systems, processes, people and the data sets surveilled.
• In liaison with the Change Team, prioritize the development of the systems, processes, people and data sets needed to (better) identify these new forms of misconduct for their business/asset class.
• Input into and track the development of these new surveillance capabilities.
• Deal with the alerts once they have already been passed through a first (level one) filter by the offshore team.
• Ensure that all alerts are satisfactorily escalated and resolved.
• Provide support and guidance for our expanding off-shoring function
• By looking across the alerts (ie holistically) identify improvements the way in which alerts are generated to improve the effectiveness and efficiency of the surveillance process.
• Carry out in investigations requested by Regulators, senior management and the businesses/asset classes into certain practices, businesses, individuals and events. Escalate, as appropriate, any material findings or incidents of misconduct highlighted by these investigations.
• Coordinate or produce regular MI reports to key internal stakeholders including analysis of the MI.
• Foster a close relationship with key front office and support function stakeholders and collaborate with the Global Surveillance team.
• Assist team members with the implementation and roll-out of a new surveillance tools and models.
• Present surveillance output at internal control and governance forums.
• Support the Conduct Surveillance and Analytics team in the resolution of audit and control findings
• Liaise with change management and technology and aid surveillance in delivery.
• Analyze and explore multiple data types in order to identify anomalies and patterns of risk
• Understand financial products and HSBC’s business processes around these
• Work across various technology platforms (surveillance, analytics, trading platforms, etc.)
Impact on the Business Function
• Provide subject matter expertise to support and drive the implementation and enhancement of the Global Markets Surveillance solutions.
• Analyze and investigate potential instances of market abuse and misconduct detected by the solutions.
• Imperative escalation of potential regulatory and internal market misconduct breaches to Compliance Senior Management.
• Improve overall efficiency of the process and individual performance within the team.
• Influence the behavior of the business and its support functions by acting as a deterrent.
• Challenge existing surveillance tools and models and contribute to the creation and development of new models and detection tools.
• Perform ad-hoc trading reviews.
• Assists management and the line of business Compliance Officers in identifying and containing compliance risk, monitoring, reporting, and certification, fostering a compliance culture and optimizing relations with regulators
Customers/Stakeholders
• Develop strong relationships with the first line of defense (Front-office, Operations, Product Control, Market Risk) and RC Advisory teams.
• Engage and collaborate with global Surveillance team.
• Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
• Monitor and ensure adherence to agreed performance levels.
• Draw on relationships to deliver enhancements to the process and technology used by Global Markets Surveillance within your asset class.
• Prepares summaries on compliance with assigned regulation(s), regulatory requirements, and/or compliance risks for senior management, and/or Committees/Boards or Executives as required.
Leadership/Teamwork
• Develop strong relationships with the first line of defense (Front-office, Operations, Product Control, Market Risk) and RC Advisory teams.
• Engage and collaborate with global Surveillance team.
• Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
• Monitor and ensure adherence to agreed performance levels.
• Draw on relationships to deliver enhancements to the process and technology used by Global Markets Surveillance within your asset class.
• Prepares summaries on compliance with assigned regulation(s), regulatory requirements, and/or compliance risks for senior management, and/or Committees/Boards or Executives as required.
Operational Effectiveness/Control
• Develop strong relationships with the first line of defense (Front-office, Operations, Product Control, Market Risk) and RC Advisory teams.
• Engage and collaborate with global Surveillance team.
• Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
• Monitor and ensure adherence to agreed performance levels.
• Draw on relationships to deliver enhancements to the process and technology used by Global Markets Surveillance within your asset class.
• Prepares summaries on compliance with assigned regulation(s), regulatory requirements, and/or compliance risks for senior management, and/or Committees/Boards or Executives as required.
Qualifications
• A strong understanding of the rules relevant to trading and sales activities for Equities, Futures or Fixed Income.
• Expert knowledge of financial markets and traded Equities, Futures or Fixed Income products.
• Minimum of three to five years proven and progressive financial services, compliance and/or legal management experience, or equivalent.
• Well-developed communications, analytical, organizational, and project management skills.
• Broad scope of knowledge of assigned businesses, including products, operations, systems, and organization and thorough understanding of significant regulatory compliance requirements applicable to assigned business(s).
• Proficiency with pertinent mainframe systems and software packages.
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