Senior Control Officer

Location:Greater London
Job Type:Full Time
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Role Title: SeniorControl Officer

Business: Operations

New or Existing Role? New

Grade: GCB4

Role Purpose

  • The Chief Control Office (CCO) is arisk and control function primarily responsible for improving and strengtheningthe Global Markets Operations’ (GMO) control environment.It is a global and cross asset-class functionthat resides within GMO but also has functional alignment to the GBM CCOproviding global strategic direction of the CCO function. The Risk Process andControl (RPC team), one of the three functional pillars of CCO, drives theeffective implementation and embedding of the Operational Risk ManagementFramework (ORMF), policies and key control standards. RPC works closely withthe business line in ensuring that our control estate is efficiently andeffectively managing our risk exposure to within management’s risk appetite.They will also play a key role in helping support and where necessary leading,the enhancement/improvement of controls and best practice within the assetclass /business line.
  • The role holder will be primarilyaligned to support and drive Global Markets UK CASS (client asset protection)requirements which are cross asset and business, and will additionally beexpected to contribute to key delivery for the wider CCO function in relationto risk initiatives and remediation programmes.

Responsibilities to include:

  • Alongside the Global Functional RPC Head,responsible for the implementation and embedding of governance and risk andcontrol strategies supporting CASS adherence across GM Markets, and servicesoutlined in the RPC pillar of the target operating model.
  • Working closely with the Operations teams andthe Business to ensure robust CASS controls are in place and appropriatelydocumented within the CASS tool kit. Act as an additional point of escalationwith regards to CASS related upstream/downstream control issues. Influencefunctions in their remediation of control gaps.
  • Managing and overseeing CASS risk breaches,events, lessons learnt and themed analysis. Monitor the implementation of managementaction plans to ensure timely remediation and enhancements are incorporated inthe control environment.
  • Executing deep-dive process and controloptimisation reviews, undertake regular monitoring of the risk profile and ofthe effectiveness of controls, support delivery of risk remediationinitiatives. Perform CASS assurance testing and targeted thematic reviews toreduce the risk of unidentified or aged control gaps. Challenge and influenceprocess design and control weaknesses to continuously improve the control andprotection of client assets.
  • Institutionalising a robust CASS training anddevelopment programme to increase CASS awareness, understanding and cultureacross Global Markets.
  • Acting as one of the principal contacts point andconduit for Client Asset Oversight Office/ 2nd / 3rd Linesof defence and other external reviews relating to the CASS role remit.
  • Supporting the implementation of new policies,control standards and procedures in accordance with the Bank’s policy / riskappetite. Provide CASS support and advice to the Operations team.
  • Ensuring that the agenda / contents of riskgovernance forums (as required) are ‘fit for purpose’ so that key controlissues and emerging risks are appropriately discussed and addressed.
  • Proactively managing the implementation andconsistent adherence to the ORMF and internal control framework, ensuring thatkey operational and emerging risks have been identified and are being managedwithin a strong governance framework.
  • Participating in CCO-wide riskinitiatives, control reviews and program/project implementation as directedby the GlobalFunctional RPC Head.
  • Support the Operations line and CCO teams inthe development of a stronger control and conduct culture for the asset class /business line.

Key Accountabilities

Impacton Business

  • Operate as a

senior manager, alongside the Global Functional RPC Head, to drive the

direction, co-ordination and delivery of RPC.

  • Drive increased

levels of CASS assurance across Markets to enhance client protection.

  • Partner with the

business to facilitate process improvement, control optimisation and drive

down CASS related operational risk across the business.

Customers /Stakeholders

  • Support GMO CCO

leadership in ensuring the appropriate control structure is in place and

that identified risk and control issues are appropriately addressed.

  • Maintain strong

and effective working relationships across the 1st, 2nd

and 3rd Lines of Defence to deliver results relevant to

functional / role remit.

  • A Risk Culture leader. Contribute

to risk / control education and learning initiatives, promoting policies

and best practices.

Leadership &Teamwork

  • Highly motivated

to deliver results using own initiative and with little direction.

  • Ability to deal

with difficult and conflicting situations, clearly articulate an argument

to influence the outcome.

  • Provide challenge

to management across the function, hold individuals accountable for their

risks and timely resolution thereof, and influence seniors relating to

policy and control standards adoption, implementation and embedding.

OperationalEffectiveness & Control

  • Understands,

follows and demonstrates compliance with all relevant internal and

external rules, regulations and procedures that apply to the conduct of

the business, specifically Internal Controls and any Compliance policy

including the Group Compliance policy.

  • Maintains HSBC

Internal Control standards, including the timely implementation of

internal and external audit points together with any issues raised by external


  • Must be adaptable,

responsive to business needs and changing priorities, and thrive under

pressure where delivery deadlines can be short.

Major Challenges

  • Operating and

being effective within a diverse and complex operational risk, control and

regulatory environment that is continually altering in scope and focus. A

deep understanding of FCA CASS regulation is required to enable effective

challenge of the CASS risk profile and an informed view to be formed on

the completeness and adequacy of CASS controls across GMO.

  • Operating with a

true sense of urgency, pace and collaboration in a matrix-managed


  • Delivering the

highest quality, most concise output for senior management and

occasionally external parties at all times.

  • Balancing the

often conflicting requirements of Group and the businesses without

alienating any of the key stakeholders.

  • To challenge with

authority and respect the risk profile of CASS, maintaining a balance

between risk reward / commercial benefit.

Role Context

  • This is a senior management role, based in

London, reporting to the RPC Global Functional Head for GMO GMO BSM, Cash

Services, CASS, EMEA Sites.

  • Direct face off to GMO cross asset class

management teams and interaction with the Global Markets business.