Job Description

Job description

The health and safety of our employees and candidates is very important to us. Due to the current situation related to the Novel Coronavirus (COVID-19), we\xe2\x80\x99re leveraging our digital capabilities to ensure we can continue to recruit top talent at HSBC. As your application progresses, you may be asked to use one of our digital tools to help you through your recruitment journey. If so, one of our Resourcing colleagues will explain how our video-interviewing technology will be used throughout the recruitment process and will be on hand to answer any questions you might have.

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If you\xe2\x80\x99re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

LOD consists of \'Risk Stewards\' who are independent of the commercial risk-taking activities undertaken by the First LOD. The Compliance function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group\xe2\x80\x99s risk framework.

The Vice President \xe2\x80\x93 Compliance for HSBC InvestDirect Financial Services (India) Limited (HIFSL) is the executive expected to support in ensuring that HIFSL\xe2\x80\x99s operations are effective in identifying, managing and mitigating Regulatory Compliance and Financial Crime and ensure timely advice is provided to the business. He/She shall be designated Chief Compliance Officer for HIFSL entity and would also be the designated Principal Officer / MLRO as required under the PMLA.

The responsibilities of the Vice President \xe2\x80\x93 Compliance are to:

• To act as the responsible executive in Cmp Adv for HIFSL in relation to Regulatory Compliance and Financial Crime risks.
• Articulate the Regulatory Compliance and Financial Crime risks for HIFSL.
• Primarily to support HIFSL, to maintain an effective control framework and to ensure compliance with all relevant external laws & regulations, internal codes and policies and good market practices. With primary focus on HIFSL area.
• Provide advisory services to HIFSL business in order to ensure clear understanding of compliance risk exposure with respect to clients, transactions and products.
• Managing the relationship with relevant regulators on behalf of HIFSL.
• Be responsible for second line governance of Regulatory Compliance and Financial Crime risks exposures, providing analysis, reporting and governance to HIFSL that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure
• To support risk steward challenge, act as independent trusted advisory in governance forums, issue management, fostering a compliance culture and optimizing relations with risk owners and control owners.
• Assist the senior management of HIFSL and other colleagues on all material compliance related matters.
• Assist Functional Head, in representing the Compliance agenda up to the highest levels of the INM / ASP governance, including being an attendee (as required) at the HIFSL\xe2\x80\x99s Board (and related sub-committees), RMM, NPOC, to report on progress and issues in relation to the operational effectiveness of HIFSL\xe2\x80\x99s policies, processes, systems and controls in countering Regulatory Compliance and Financial Crime risks.
• Provide guidance on outsourcing, conduct, Commercial Paper listing, and all other aspects related to compliance in HIFSL
• Drafting, adopting group policies and making amendments are per local regulatory requirements
• Identify compliance related training needs for colleagues within HIFSL
• Perform Regulatory Affairs (RA) related activities
• Perform responsibilities of Principal Officer / MLRO like monitoring and reporting of all transactions and sharing of information as required under the law. He/ She will maintain close liaison with enforcement agencies, banks and any other institution which are involved in the fight against money laundering and combating financing of terrorism.

Principal Accountabilities: key activities and decision making areas:

The following principal accountabilities are aligned to the Compliance Services and Processes Model. Additional detail is available in the Model.

Impact on the Business

• Oversee the critical Compliance policies and systems that impact HIFSL and ensure that the Group\xe2\x80\x99s exposure to Regulatory Compliance and Financial Crime risks is managed in a commercially sensitive, practical and cost effective manner.
• Provide advice and support on Regulatory Compliance and Financial Crime risks to senior management and other colleagues.

Customer / Stakeholders

• Reporting to as relevant on Regulatory Compliance and Financial Crime risks matters.
• Ensure that senior management are appropriately advised of all material Compliance related matters relating to HIFSL.
• Manage and foster a strong relationship with all relevant regulators in relation to the activities of HIFSL and ensure timely disclosure of relevant information, in relation to financial crime, and regulatory compliance related matters.
• Ensure that positive relationships are maintained with other external stakeholders relevant to the Compliance agenda.

Leadership and Teamwork

• Maintain and develop positive and professional working relationships with senior business managers and Compliance colleagues at the Group level and those in other Regions and Businesses.
• Support sharing of Regulatory Compliance and Financial Crime risks related compliance knowledge and best practice across the wider Compliance Function and Group.

Operational Effectiveness and Control

• Create a framework for the effective risk-based monitoring of the implementation of Regulatory Compliance and Financial Crime risks related policies and controls across HIFSL.
• Agree and oversee the implementation, embedding and monitoring of the adherence to the Compliance FIM in HIFSL.

Management of Risk

This will be achieved by ensuring all actions take account of the likelihood of Compliance risk occurring and by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Observation of Internal Controls

Managers are accountable for setting the tone which underpins the principles of a positive and effective internal control environment. They should support leadership for establishing and maintaining an effective internal control environment, including the development and management of policies and procedures where appropriate. Managers should also ensure that suitable processes are put in place to review and oversee that internal control environment against those policies.

Local Job Requirements

Major Challenges

HSBC is an extremely diverse group with significant geographical spread and activities that span a universal banking model, including continuing to innovate to keep abreast of changes in NBFC regulations and market practices. Such activity is in an increasingly regulated and complex global environment with often little consistency between laws and regulations in different jurisdictions and regulators taking a far more proactive approach in ensuring local compliance with their requirements and imposing increasingly stringent sanctions for breaches. It is the role of the Vice President - Compliance for HIFSL, as a member of the Compliance function to assist the Group in achieving a balance between the demands of regulators, external bodies and governmental initiatives and the Group\xe2\x80\x99s shareholders and customers in enacting compliance; being alive to the political, management, regulatory and reputational implications of a particular decision and courses of action at a global level; assisting executive management in the development of controls and systems and influencing the way in which the business is conducted in order to manage these risks, meeting Group risk appetite. The increased focus on individual liability for senior managers, particularly risk heads, makes it increasingly important for the Group to be able to evidence adequate systems and controls. The role is one where regulatory authorities have high expectations and is likely to come under scrutiny as part of any major regulatory investigation.

Requirements

Certifications, Qualifications and Experience

• Experience as a regulator, or a compliance manager or other control functions across various areas of Compliance risk in the financial services industry (preferably NBFC).
• Knowledge and understanding of the industry and risk management practices, knowledge of regulations, legal requirements and have sensitivity to Supervisory expectations
• Excellent communication and inter-personal skills with experience of dealing with executives at all levels. Prior experience of dealing with regulator would be an added advantage.
• Ability to develop practical, cost effective solutions to complex issues and exercise judgment independently
• Exhibit strong moral principles, ethical beahiour and core values like integrity, responsibility, etc.
• A graduate in any discipline, preferably a qualified Company Secretary.
• Ability to work in matrix reporting structure

Additional Information

Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.

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Issued by The HSBC InvDirect FinServ(IN) Ltd Limited, India

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