Role Title: Senior Manager, US Securities and Derivatives
New or Existing Role: Replacement
Provide Compliance leadership and oversight to the Global Markets (GM) business – specifically on the application of US regulations as well as on regional business initiatives and/or regulatory compliance projects, including undertaking deep dive reviews and managing investigations - in order that line management can ensure that the business is conducted in accordance with all applicable laws, rules, regulations and codes of practice.
- Lead independent oversight and challenge of the risk management practices across the business ensuring the business objectives are aligned regulatory requirements.
- Partner with regulatory change and other regulatory SMEs to understand new and revised regulatory requirements, codes of practice etc, ensuring changes and any impact is disseminated to the appropriate Businesses. Provide regulatory compliance guidance and interpretation of US securities and derivatives regulations.
- Acting as the SME for Markets Regulatory Compliance team. Drive global and regional approach in Compliance advisory guidance, support and policy interpretation to the Global Markets Business. Coordinating with equivalent counterparts in other regional compliance teams to ensure a consistent, best practice and ‘joined-up’ approach to the oversight of the businesses in respect of US regulations
- Support the management of Global Markets in their regional initiatives by providing Markets Regulatory Compliance guidance and insight to the business stakeholders and to the local compliance team.
Impact on Business
- Facilitate the management of compliance risk by those responsible for the conduct of the Group’s business in Global Markets.
- Define policies and standards to cover compliance issues.
- Advise line management of the impact on the business of applicable laws, rules and regulations, notably relevant US and EU regulations (Dodd Frank, Volker, Vickers, MiFID)
- Conduct investigative work on specific issues, incidents or regulatory concerns as they arise as an integral element of a forward looking risk management framework
- Assist line management in the conduct of crisis management.
- Foster good relations with regulators.
- Escalate all material and significant breaches or potential breaches of regulations as soon as practicable to Markets Regulatory Compliance and business management.
- Represent Compliance on a number of internal Committees opining and or providing justification / guidance on regulatory issues
Customers / Stakeholders
- Build and ensure strong relationships with key stakeholders and team members, adopting a joined up approach, to execute Compliance risk at pace and with minimum conflict
- Analyse stakeholder goals vs regulatory requirements and effectively manage their expectations, addressing any misalignment
- Maintain contact with key senior Stakeholders and Compliance management to identify and communicate status, progress, risks and issues
- Manage and negotiate policy decisions and business solutions so that key stakeholders are bought into decisions that optimise effectiveness for HSBC
Leadership & Teamwork
- Lead by example to other team members, demonstrating core behaviours and values including teamwork, focus, drive and determination.
- Work collaboratively across peer group and organisation.
- Collaborate and foster good relations with the business, Compliance teams and departments.
- Must have appropriate interpersonal skills to be able to integrate into an existing close team and smoothly implement change.
- Undertake line management responsibility, if and when assigned from time to time, for Compliance officers in the Global Markets advisory teams including motivation and performance management in accordance with HSBC’s policies and requirements.
- Must have a strong personality to be able to cope with the demands of facing the business in challenging situations
- Must be able and willing to identify and undertake the necessary actions to provide solutions needed to discharge effective compliance advice to the Global Markets businesses
Operational Effectiveness & Control
- Advise the business on the introduction of new products and services in respect of their compliance with EU and US regulations applicable in Asia.
- Compliance coverage/support for the business line will reduce compliance, business and operational risk for the business area.
- Assist the business with the preparation of manuals and procedures (regulatory / compliance input only) as required.
- Identification and delivery of compliance training needs for the business.
- Managing and/or participating in internal and external investigations into compliance related matters.
Keeping abreast of regulatory developments on US regulatory framework, and anticipating changes in order to ensure accuracy of advice provided to the business.
To meet the demands to discharge advisory and control duties in relation to Global Markets business lines in order that line management can ensure that the business is conducted in accordance with all applicable laws, rules, regulations and codes of practice. Commensurate with experience and grade.
To work with the business on high profile projects to ensure that the regulatory demands of those projects are met.
To provide the business with clear analysis, decisions and guidance in relation to business proposals, transactions and plans in the context of regulatory rules and regulatory change.
To deliver on a programme of training for relevant businesses in accordance with Markets Regulatory Compliance and business training requirements.Role Context
- To play a leading role in the Global Markets Regulatory Compliance teams delivery of outstanding performance in resolving compliance matters and requests which arise in respect of the application of US regulations and in the conduct of regional projects and initiatives.
- Provide compliance support and input as required to team members undertaking the Global Markets Due Diligence approval process and to respond within agreed timescales.
- Take decisions based on your knowledge and experience.
- To provide training to business areas on procedures and practices necessary to achieve compliance.
- To provide compliance support and expertise to other business units within GM when required to do so (e.g. deputise during absence of other Compliance staff).
- To liaise with other Compliance areas of the firm, auditors and infrastructure departments in relation to compliance matters in the HK and overseas jurisdictions as needed.
To learn and put into effect the requirements of the Legal and Compliance Functional Instruction Manual (FIM)
- Work within the Operational Risk parameters of Global Markets Compliance
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.