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||New York, NY
|| Accounting/Auditing, Government and Policy, Law Enforcement, and Security, Legal, Military, Executive Management, Research & Development
Senior Vice President Americas Head of Regulatory Compliance HSS|
Ensures compliance of the HSS (HSBC Security Services) Americas business with all applicable laws and industry regulations by providing compliance support, advice, and guidance to the business. Provides compliance functional oversight and guidance to the non-US HSS LCOs (specifically Brazil, Mexico and Argentina) and relevant Heads of GBM Compliance in relation to HSS Compliance matters. Acts as the key Compliance point-of-contact for the Regional Business Head of HSS Americas.
Works with the business to identify, evaluate, and mitigate compliance risk. Discharges the Compliance Officer accountabilities by pro-actively assisting management in identifying and containing compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators. Implements and maintains the compliance program that addresses regulations applicable to the HSS Americas business.
Impact on the Business
- Maintains external awareness of research trends, information, and techniques related to the management of compliance risk and communicates this information to the business and throughout the Compliance function.
- Advises the business on US regulatory matters in liaison with other Compliance colleagues.
- Performs an advisory, monitoring, and educational role to support management in their efforts to achieve compliance with government and self-regulatory organization rules and regulations, as well as with Group and HNAH policies.
- Provides leadership and guidance in execution of the Annual Compliance Plan, as articulated in the Compliance Functional Instruction Manual (FIM).
- Provides advice and direction to business, including new business and product initiatives and activities, and response to customer complaints.
- Reviews new vendor relationships for assigned area, as well as provide ongoing risk assessment reviews.
- Assesses and analyzes internal processes and apply analytical techniques to formulate, describe, communicate, coordinate, and oversee implementation of change.
- Oversees the identification and reporting of all significant regulatory compliance breaches or gaps.
- Represents Compliance function as a member of various business and governance committees.
Customers / Stakeholders
- Fosters a positive culture of compliance by working proactively with the business, BRCM, internal controls functions and other Compliance professionals to ensure that best practices and systems are in place to facilitate the growth of the HSS Americas business and the overall success of HSBC in accordance with applicable laws, rules, regulations and internal policy.
- Liaises with business managers, BRCMs, and internal control functions in the U.S. to support first line of defense efforts and responsibilities.
- Advises business on the development of action plans to implement new or changed regulatory requirements.
- Advises second and third lines of defense of dates of inspections by local regulators and provide them with reports received.
- Ensures appropriate compliance training is provided to the business.
- Works with Compliance Training & Outreach Office to coordinate outreach and training to lines of business/corporate functions about Compliance procedures, regulatory and technical/procedural updates, while reinforcing HSBC's vision to be "Connected to customers, communities, regulators and each other" (e.g., HSS Americas MANCOM).
- Advises business on the development of compliance-related performance objectives and compensation plans for business unit employees.
Leadership & Teamwork
- Leads and develops an effective team through communication, performance management, development plans, and reward/recognition practices while contributing to initiatives in support of the Company’s Diversity programs.
- Provides project management support on compliance-related projects and initiatives to ensure they progress toward a common goal in alignment with agreed upon timelines.
- Builds relationships with individual country HSS business heads and offers them support and guidance as appropriate.
- Manages staff, directing day to day focus and responsibilities.
- Supervises, manages, and coaches the US CTLA LCO to ensure that appropriate compliance support is provided to the US CTLA business.
- Promotes an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
- Maintains awareness of major regulatory changes affecting assigned business(es); ensures appropriate communication and development of appropriate policy/procedure changes to remain compliant.
- Maintains a current knowledge of industry compliance initiatives pertaining to areas of responsibility and best practices.
- Works with colleagues in the Compliance function to ensure that the US HSS business is part of the enterprise-wide compliance program and follows a consistent approach win line with expectations of US regulators.
- Works with HSS AML LCO to ensure that AML matters are appropriately managed and relevant guidance is provided to the business.
- Coordinates regulatory matters, including examinations, inquiries and investigations.
- Oversees the identification and reporting of all significant regulatory compliance breaches or gaps; works with Legal and business management to design and implement changes to business policies and procedures, as appropriate.
- Manages/assists in drafting, editing, and maintaining written policies and procedures.
- Reviews and confirms the results of the Compliance Detailed Self Assessments (CDSAs) as well as Enterprise-wide Risk Assessments (ERAs), for respective business unit and Compliance.
- During country visits, completes detailed “assurance-based” reviews of the HSS Compliance function.
- Implements the Group compliance policy locally by managing compliance risk in liaison with the Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
- Completes other responsibilities, as assigned.
- Maintains a compliant/high morale Compliance department in light of the challenging regulatory environment and corresponding demands on the personnel.
- Helps to ensure future business growth is attained in a responsible and conscientious fashion while the operation remains regulatory compliant and commercially sound.
- Under an increasingly and heavily regulated environment, ensures that the HSS Americas business line is compliant with all applicable laws, rules, and regulations.
- Operates effectively under the pressure of deadlines, constant regulatory oversight, and business unit performance.
- Shares ownership with business leadership team in the ongoing advancement of a positive compliance culture through cultural transformation.
- Maintains a strong communication link with LATAM compliance colleagues where English is not the first language.
- Builds out Securities Services-specific compliance knowledge within local Compliance teams and aligning the teams to a regional and global structure.
- Conducts visits to each country / business on a rotational and risk-assessed basis. Typically, each country should be visited once every 18 months subject to any trigger events.
- Sets priorities and makes day-to-day decisions independently.
- Escalates matters to senior management as needed.
- Works well independently, with minimal direction.
- Demonstrates a thorough understanding of policies and procedures pertaining to the role. Aware of what constitutes an effective control environment.
- Communicates effectively and professionally, and conveys the key information needed to ensure compliance goals are met.
Management of Risk
- Ensures employees apply compliance, operational risk controls in accordance with HSBC and regulatory requirements, expectations, standards and policies; and optimizes relations with regulators by addressing any issues.
- Adheres to HNAH’s Statement of Business Principles and Code of Ethics.
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 and reported through the Compliance Integrity Committee.
- Ensures HSS Americas is aligned to regulatory requirements, the Compliance FIM, HNAH’s Enterprise Compliance Policy and Program, the CRMP Manual, HNAH’s BSA/AML Policy, other Group policies and all related policies and procedures.
- Communicates control weaknesses to other group leaders and business management in accordance with issue escalation procedures.
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Qualifications & Requirements
- Minimum of 15 years operations, compliance and/or legal management experience, or equivalent, with proven and progressive financial services institution.
- Minimum of a Bachelor’s degree in business, related field or equivalent experience; Master’s degree and/or Juris Doctorate (JD) preferred.
- Well-developed managerial, communications, negotiation, analytical, organizational, project management and strategic and/or operational planning skills.
- Broad scope of knowledge of assigned businesses, including products, operations, systems, and organization and full understanding of all significant regulatory compliance requirements applicable to assigned business(es).
- Proven ability to accomplish high-level objectives in the context of annual business and compliance plans.
- Excellent interpersonal and communication skills (verbal and written).
- Proficiency with personal computers, pertinent mainframe systems, and software packages.
- Prior experience with Corporate Trust and Custody Regulations in a global banking environment