Role Title: Surveillance Remediation Assistant Manager
- The position is required to support management in its Group Regulatory Surveillance’s (GRS) response to enhancement actions arising from the US Federal Reserve Board Order and Deferred Prosecution Agreement (DPA). This will be a global, multi-year, multi-business line effort. Currently, this is being managed by existing team members, but given the scale of the remediation, a dedicated resource will be required to ensure enhancement actions are managed efficiently and effectively to meet all deadlines in the region. The actions and workstreams for this project are required by the FRB Order and, when advised, the DPA. Timely completion and proper reporting are imperative for HSBC to avoid further action from the regulators, including but not limited to fines, censure or enforcement action. The position will also be expected to support involved in the design, delivery and in some instances operation of key controls, alongside supporting wider Strategy and Governance functions.
- The resource will own the local delivery of some enhancement actions and any follow on actions arising out of their completion. This will include the design, testing and implementation of enhancement actions and any ensuing control enhancements. This will be confined to Global Markets. This will require extensive liaison with Control Office, audit and regional surveillance remediation roles. In addition, it will support the global coordination of all enhancement actions undertaken by the GCB4 Remediation Manager in the UK with the required Programme, Regulatory and Internal reporting requirements.
- 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 support the wider GRS team, who carry out the following activities:
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, prioritise 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.
Dealing 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.
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 GRS team in the resolution of audit and control findings
Liaise with change management and technology and aid surveillance in delivery.
Analysing and exploring multiple data types in order to identify anomalies and patterns of risk
Understanding financial products and HSBC’s business processes around these
Working across various technology platforms (surveillance, analytics, trading platforms, etc.)Key Accountabilities
Impact on Business
Support management in the timely and consistent design, testing and implementation of specific enhancement actions, other remediation efforts and any ensuing control enhancements. This will occur across business lines (the impact outside of GM is not yet known). The role will work closely with regional counterparts with similar responsibilities locally.
In addition, it will support the central GCB4 Remediation Project Manager (requested under a separate HAT) with the required Global Programme, Regulatory and Internal reporting requirements. Similarly, the role will support local GRS Management with regional reporting and governance obligations for the Programmes.
Customers / Stakeholders
Maintain effective relationships with Global Control Office, Global business-line Programme Managers, audit and regional surveillance remediation roles, audit senior management.
Support GRS Programme Management and senior management in the reporting and handling of progress against remediation.
Oversee the development of quality, impactful MI and high level briefings which provides insight to the relevant business-lines and enables the effective management of GRS.
Leadership & Teamwork
Global Collaboration. Actively identify opportunities to collaborate with Surveillance colleagues globally in overlapping or similar enhancement issues, providing consistency of approach.
Coordinate and oversee delivery of controls by GRS operational teams, providing advice, guidance and hands-on delivery to ensure robust and sustainable resolution of enhancement actions.
Demonstrate robust but collegiate team working skills with fellow surveillance colleagues at all levels of seniority.
Operational Effectiveness & Control
Regulatory / Remediation Deconfliction. The role must ensure appropriate deconfliction with existing BAU, Transformation Programme deliverables and remediation activities (MAR; FX Remediation Programme; Fixed Income and Equities Conflicts of Interest Programme; CFTC Enforcement Actions) and other regional or local priorities.
Global Deconflction. This deconfliction will need to occur across regions, across multiple business-lines and to different delivery dates.
- Group Regulatory Surveillance is undergoing a long-term transformation project. As a result, candidates will be expected to demonstrate the following:
An ability to think strategically, with perspective, and demonstrate resilience, is critical.
An ability to be robust yet diplomatic with senior or external (regulator) stakeholders, protecting the long-term objectives of GRS.
An ability to inspire confidence and enthusiasm in GRS deliverables in both staff and stakeholders is critical.
An ability to act in a pressurized, but supportive environment, is critical.
An ability to self-motivate and ‘do the right thing’ is critical.
An ability to act as a role model in these behaviours to others.
- An ability to be discreet and trusted with sensitive information is critical.