Director, Wealth Oversight Admin|
Responsible for FLoD regulatory matters including but not limited to; working with Compliance, Risk, management, internal and external auditors and regulatory bodies. Supporting the businesses in their management of risk through ensuring assessment, monitoring, control identification, mitigation and measurements area in order. Contribute to the development of training programs as requested. Work through regulatory organizational issues to facilitate identification and ownership for prompt resolution in adherence to regulatory standards.
The role holder will serve as a Subject Matter Expert ensuring compliance, operational risk controls are in accordance with HSBC policies and regulatory standards addressing any issues based on expertise.
Impact on the Business
- Oversee creation of regular and ad-hoc reporting to support FLoD with monitoring and controls as it relates to the business, including reports for senior management, Committees, internal and external auditors and regulators as needed.
- Review Audit reports and follow-up on any items that require mitigation.
- Serve as liaison and provide leadership to the business to ensure compliance with corporate business continuity policies.
- Identify and implement processes and practices to strengthen and or develop external contacts among industry peer groups to determine/validate that the Company is following industry best practice.
- Point of contact for Internal Audits.
- Work closely with Wealth Sales Quality (SQ) team to formulate action items consistent with Global Standards, Sales Quality calls and Mystery Shop Results.
- Work with RLO (Regulatory Liaison Office) SLoD to ensure all documents and submissions on behalf of Wealth Management to any/all regulators are complete and accurate.
- Complaint aggregation, monitoring and analysis.
- Work closely with Legal and Compliance to ensure regulatory items are addressed and resolved appropriately.
- Assist with Remediation Projects.
- Work with the business to ensure annual FINRA/SEC Exam priorities are reviewed and applicable changes to the business are made in a reasonable timeframe.
- Work closely with Risk colleagues to analyze their interpretation of FIM requirements and to formulate methods of compliance.
Customers / Stakeholders
- Work with RLO, Legal, Compliance, SQ and BRCM (Business Risk Compliance) to ensure we are maintaining the highest regulatory standards.
- Provide management direction in identifying, evaluating and reporting operational risk. Work with the business to design and implement changes to policies and practices to reduce operational risk as appropriate.
- Provide incident management reporting to the business identifying type of incident and root cause.
- Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
- Leadership & Teamwork
- Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
- Assist senior management in monitoring compliance with corporate policies and practices (GSM/FIM/BIM) and provide tracking and follow up for internal and external audit comments.
- Ensure timely identification and reporting of all significant operational losses and near misses.
- Discharge the accountabilities set out in the Legal and Compliance FIM by pro-actively assisting management in identifying and containing compliance risk, monitoring, reporting and certification, 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.
- Complete other responsibilities, as assigned.
- Occasional travel is required given the scope of role.
- Role interfaces with operational risk management and with assigned senior business unit management.
- Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
- Physical Demands/Work Environment: Very good working conditions. Little or no physical demands. Minimal handling of light materials. The physical demands/work environment described above are representative of those that must be met by an employee to successfully perform the essential duties of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties.
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.
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Qualifications & Requirements
Knowledge & Experience / Qualifications
- Minimum of a Bachelor’s degree in business, related field or equivalent experience.
- FINRA Series 7, 24 (or 9 & 10) Insurance Licenses required. 90 day contingency may be granted solely at management's discretion.
- Minimum of eight (8) years proven and progressive financial services operations, internal audit, compliance and/or legal management experience, or equivalent.
- Well-developed managerial, communications, negotiation, analytical, organizational, project management and strategic and/or operational planning skills.
- Broad scope of knowledge of financial services business including Wealth Management, products, operations, systems and organization.