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We are currently seeking an experienced professional to join the CIB Business Risk (Non-Financial Risk) team.
Our COO team delivers strategic execution for Corporate and Institutional Banking (CIB) across the globe. Through transformative data and digital solutions, customer servicing, and non-financial risk expertise, this team is where problems are solved, and careers are made.
CIB COO focuses on these key priorities:
- Protecting the bank, our customers and stakeholders by enhancing our operational resilience, strengthen our control environment, and improve risk management.
- Driving operational excellence and efficiency by optimising our processes and delivering the transition to net zero in our own operations.
- Enabling business growth exceptional service by enabling our businesses to focus on our competitive advantage and deliver transformation and digitisation across the bank.
Context: INM CIB Business Risk function interlocks with Governance, banking operations and frontline RMs to deliver commercial and global banking business growth, positive customer experience, strategic business transformation, process simplification, straightforward policy framework and enable a data driven organization. The focus in INM CIB BFCR is to leverage a consistent operation model for best efficiency to support corporate clients across CIB. The role will be based in Mumbai, India to work with FC Colleagues, Local and Regional stakeholders.
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Business Financial Crime Risk (BFCR) has been established within CIB Business Risk to combine the elements of the Global Standards program that are necessary under Business as Usual (BAU) operations, along with other FCR Management activities that are either new, or historically managed separately.
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Under the BAU Structure, BFCR is responsible for ensuring the overall effective operation of the end to end processes and systems that comprise the financial crime risk control framework. This will be achieved through clearly defined and well implemented procedures, centrally managed risk mitigation reviews and overall awareness and behaviour of relevant staff across CIB (most notably Relationship Managers).
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Reporting to the Head of CIB BR, the VP BFCR will be responsible for various activities that ensure overall operational effectiveness is maintained and, where applicable, enhanced to achieve lasting embedment of a strong culture of FCR management.
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INM CIB’s BFCR function is also responsible for discharging duties under Fraud Risk Management (first party lending fraud, payment fraud and other regulatory engagements such as Cyber Fraud). This role is also materially invested in discharging duties pertaining to this area.
High level responsibilities will include:
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Promote the effective execution of end to end controls, comprising Customer Due Diligence, Customer Surveillance, Sanctions, Money Laundering, Fraud and Tax evasion.
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Develop and deliver targeted guidance and training for frontline staff to ensure ongoing enhancement and embedment of a positive FCR management culture, under the guidance of Lead BFCR.
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Be a trusted SME to frontline staff on the effective management of risk and execution of process. Help RMs to navigate and, wherever possible, find ways to alleviate process burden, and raise awareness of best practices and "what good looks like" amongst RMs and their teams. Support frontline Managers in embedding a robust culture within their teams.
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Identify opportunities to streamline processes to achieve greater customer centricity, improved employee experience and/or management of risk.
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Track and follow up on cases related to assigned key metrics and risk indicators to ensure their timely completion and appropriate handling by RMs.
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Conduct case level reviews and quality assurance activities arising from FCR concerns/indicators, under the guidance of Lead BFCR.
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Supporting and coordinating with FCC / Risk stewards in response to the regulatory reporting data supplementation, validation, report reviews and ensuring oversight of the CIB data / reporting submission quality
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Design, impact assess and/or implement changes to existing procedures and systems to support streamlining, policy operationalization and/or risk management, under the guidance of Lead BFCR.
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Support Lead BFCR in the impact assessment and operationalization of regulations.
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Collaborate closely with partners in CIB BFCR, ASP BFCR Teams and functional stakeholders e.g. Financial Crime Compliance and Frontline teams to drive end to end effectiveness through process and people.
Impact on the Business/Function
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Ensure effectiveness of CIB BR’s FCR procedures through robust deployment, ongoing management and change control, and use of reporting metrics to identify areas for improvement and opportunities to streamline.
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Acting as subject matter expertise across each of FCR aspects and providing daily operation support to business ensuring process and execution effectiveness
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Supporting Lead BFCR in deliver a culture and engagement plan that ensures the embedment of culture of proactive FCR management
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Ensure ongoing reporting and timely escalation where procedures are not performing to acceptable levels.
Customers / Stakeholders
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Manage working level meetings with key stakeholders that promote cohesion and collective ownership of operational effectiveness.
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Identify ways to streamline and simplify FCR procedures to concentrate as far as possible on robust risk management together with positive customer and employee experience.
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Make change in a BAU operating environment as efficient as possible, by maintaining defined methodologies that ensure impacted staff are engaged and informed of changes.
Management of Risk
- The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation.
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This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
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The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence’. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required.
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Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite.
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The jobholder has responsibility for overseeing and ensuring that Operational risks are managed in accordance with the Group Standards Manual, Risk FIM, & relevant guidelines & standards. The jobholder should comply with the detailed expectations and responsibilities for their core role in operational risk management through ensuring all actions take account of operational risks, and through using the Operational Risk Management Framework appropriately to manage those risks.
Observation of Internal Controls
- The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures.
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The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. 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.
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The following statement is only for roles with managerial or specific Compliance responsibilities
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The jobholder will implement measures to contain compliance risk across the business area. This will be achieved by liaising with Compliance department about business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
Local Job Requirements
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INM BFCR has successfully completed the implementation of the Global Standards program and the Operational Effectiveness exercise.
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Following this, BFCR will be responsible for the maintenance of the FCR control framework pertaining to WHOLESALE clients, ensuring adherence to all Global Standards, Hong Kong Monetary Authority and Local Regulatory Circulars.
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The BFCR Operating Governance pillar will further collaborate with other COO and Business areas, including Chief Control Office, Regulatory Implementation and Conduct Risk, to ensure a cohesive approach to meet broader internal, Group or external requirements.
Educational Qualifications / Certification and Requirements:
Essential:
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Extremely good conflict handling skills as well as ability to work with senior stakeholders
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Very good ability to handle grey situations without any handholding to solve the problems
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Good understanding of operational risk and controls, preferably gained through experience in front line and risk roles.
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Good understanding of the Group’s Non Financial Risk Framework
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Good understanding of Wholesale Financial Crime Risk LOBPs and Systems.
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Good understanding of local regulatory guidelines applicable to Wholesale Banking in India.
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Knowledge of the changing regulatory environment especially in the financial services sector.
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Strong analytical and problem solving abilities.
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Leadership, management and coaching skills
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Proven problem solving skills with ability to consider alternative and lateral solutions
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Highly developed communication, presentation and influencing skills set.
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Ability to priorities and work independently under pressure within a team environment
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Ability to use strong judgmental skills to identify and resolve complex problems whilst adhering to timelines and quality of output.
Desired:
- A sound knowledge of the Group and the CMB /GB business, including products, services, systems & processes.
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Business experience in a variety of roles (Corporate / Commercial Banking / GB) centered on delivery of high quality customer service.
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Exposure to an operations and a control environment, such as audit or compliance.
Pro-tip : Familiarity with AI-enabled tools is an advantage.
Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.
You’ll achieve more at HSBC.
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