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Head of Regulatory Compliance Commercial Banking : 00008LJY

Job Information
Author pmnationtalk
Date December 22, 2016
Type Full Time
Company HSBC Bank Canada
Location Toronto, ON
Category Banking / Finance
Client HSBC Bank Canada
Contact Information
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Head of Regulatory Compliance Commercial Banking : 00008LJY

Employment Type: Regular

Reporting to the Head of RC Canada, the Head of Regulatory Compliance, Commercial Banking (Head of RC CMB) has strategic oversight for leading the implementation and management of all aspects of Regulatory Compliance for Commercial Banking. This includes impact analysis of regulatory changes, driving coordination and execution of various Regulatory Compliance work streams in Commercial Banking and ensuring alignment with Global Standards. This covers all three business segments with Commercial Banking being CMB Core (the lending arm), PCM (the product hub for payments and cash management products) and GTRF (the product hub for global trade and receivables finance products), with each segment being diverse and complex.

The individual is responsible for establishing, directing and maintaining an effective CMB-wide compliance program in accordance with HSBC Group policies and regulatory requirements.

Due to lack of focus on Regulatory Compliance for CMB Canada over the past few years, a key focus of this role at this time is to build out and enhance the Regulatory Compliance function and the Regulatory Compliance team effectively from the ground up.

In addition, as the CMB Canada business has an aggressive growth strategy, it is necessary to support them appropriately in the BAU work, which is constantly increasing with the launch of new products or changes to products and services or their pricing.

CMB is an extremely diverse business facing an increasingly regulated and complex global environment with often little consistency between laws and regulations in different jurisdictions and regulators taking a far more aggressive approach in ensuring local compliance with their requirements and imposing increasingly stringent sanctions for breaches

Impact on the Business

  • Leadership and strategy to carry out a build out and enhancement of the Regulatory Compliance function and the Regulatory Compliance team effectively from the ground up
  • Leadership to ensure proactive approach is taken to identification of Regulatory Compliance risk change and potential impacts on CMB Business Model in Canada.
  • Continuous review for appropriateness of framework to monitor Regulatory Compliance developments impacting CMB in Canada.
  • Lead implementation of programs to quantify impacts of actions to address, manage and mitigate impacts of regulatory changes on CMB in Canada.
  • Manage CMB’s exposure to Regulatory Compliance and reputational risks, including efficient and reasonable deployment of resources and an understanding of the business operations and needs.
  • Lead the implementation of global standards and strategic policies which ensure CMB’s exposure to current, emerging risks are managed appropriately.

Customers / Stakeholders

  • Lead and liaise with relevant stakeholders, including CMB executives in Canada, and other Global Business and Functional teams to provide expertise and support on all Regulatory Compliance related matters to CMB
  • Oversee the interaction with regulators and industry bodies in Canada on Regulatory Compliance matters relating to the different businesses of CMB.
  • Ensure the appropriate timely and relevant risk information is provided to CMB management, Risk Management Committees and CMB Oversight Committees.
  • Leadership of resources, people, processes and change management to support a customer focus business operations.

Leadership & Teamwork

  • Strong communication and working relationship with other CMB leaders, other Risk Disciplines, Functions and Global Businesses
  • Lead, motivate and develop an effective team through communication, cultivate an environment that supports diversity and reflects the HSBC brand and improves employee engagement.
  • Share best practices with Group offices, other business lines and other regions.
  • Take a hands-on approach to coaching with regular & productive use of Personal Development Plans and appropriate follow up.
  • Ensure development activities are a core priority and enable all team members to take reasonable time for learning and developmental activities.
  • Ensure the Compliance team of CMB Canada is resourced to headcount plan, sufficient to meet the demands and opportunities of the business.
  • Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
  • Promote an environment that supports diversity and reflects the HSBC brand.

Operational Effectiveness & Control

  • Focus on implementing and aligning the CMB operating practices with changes in Regulatory Compliance Standards.
  • Oversee the resolution of all identified issues promptly, and escalation of concerns to Sr Management in CMB as appropriate to ensure timely awareness of any material matters.
  • Ensure CMB adherence to all HSBC control standards and implementation of Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators.
  • Maintain awareness of compliance related operational risks within assigned CMB business lines and minimize the likelihood of occurrence including its identification, assessment, mitigation and control, loss identification and reporting.
  • Leadership over all regulatory and compliance matters and the management of compliance related operational risks.
  • To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
  • To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
  • Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
  • Complete other responsibilities, as assigned.

Major Challenges

  • CMB is an extremely diverse business facing an increasingly regulated and complex global environment with often little consistency between laws and regulations in different jurisdictions and regulators taking a far more aggressive approach in ensuring local compliance with their requirements and imposing increasingly stringent sanctions for breaches.
  • There are three separate segments within the CMB Business, being CMB Core (the lending arm), PCM (the product hub for payments and cash management products) and GTRF (the product hub for global trade and receivables finance products), with each segment being diverse and containing a range of products including complex products.
  • It is the role of the Head of Regulatory Compliance CMB to assist the Head of RC Canada and
  • senior management within CMB in achieving a balance between the demands of regulators, external bodies and governmental initiatives, CMB business and ultimately Group’s shareholders and customers; being aware of the political, management, regulatory and reputational implications of a particular decision and courses of action.
  • In order to effectively manage change in a volatile environment, the jobholder is required to have a broad and deep understanding of businesses, regulatory and industry issues, as well as the competitive landscape. The incumbent will be required to stay abreast of the rapidly changing regulatory environment as it relates to Regulatory Compliance and the more stringent regulatory interface and intervention across multiple jurisdictions, which is complicated further given the dynamic nature and differing pace of change

Role Context

This role needs to lead without authority and be able to collaborate with multi stakeholders and deliver results. The role holder must be able to influence senior management and articulate clear business reasons for change initiatives. The jobholder will maintain close interaction with multiple Compliance Teams as well as Senior Management within CMB

Management of Risk

  • Shall be responsible for overseeing and ensuring that risk standards are in accordance with the Group Standards Manual (GSM) and appropriate Function Instructional Manuals (FIMs). Robust local risk policies Business Instruction Manuals (BIMs) to be in place and reviewed regularly for their ongoing adequacy.
  • The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
  • This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
  • Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.

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.
  • The jobholder will adhere to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. This will be achieved by adhering to all relevant processes/procedures and by liaising with Regulatory Compliance department of new business initiatives at the earliest opportunity. Also, when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimizing relations with regulators.

Qualifications

  • Minimum of a Bachelor degree. Masters degree is an asset,
  • Minimum of 10-15 years of proven and progressive Commercial Banking experience and/or experience.
  • Wide scope of knowledge of CMB businesses, including products, operations, systems and organization.
  • Full understanding of all significant Regulatory Compliance requirements applicable to CMB businesses (Bank Act, Securities Commissions regulations as well as SROs rules)
  • Well-developed communications, negotiation, analytical, organizational skills
  • Significant leadership experience and a strategic thinker.
  • Experience dealing with regulatory matters and regulators.
  • Ability to lead change in CMB, joining up with the other teams in Compliance and Business globally.
  • Experience in developing and implementing compliance policies, programs, and procedures.
  • Ability to effectively communicate ideas, actions and decisions and to influence business lines to achieve consensus on regulatory risk issues and mitigation.
  • Strong leadership skills to manage a diverse team.
  • Proven ability to accomplish high-level objectives in the context of annual business and compliance plans.

Job Field : Risk Management
Primary Location : North America-Canada-Ontario-Toronto
Schedule : Full-time Shift : Day Job
Type of Vacancy : Country vacancy
Job Posting : 22-Dec-2016, 17:22:24 Unposting Date : 11-Jan-2017, 23:59:00

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