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||Arlington Heights, IL
|| Accounting/Auditing, Agriculture, Forestry, & Fishing, Finance/Economics, Financial Services, Information Technology, Legal, Quality Control, Research & Development
Vice President Global Operation Business Services Subject Matter Expert|
- The role is part of the Chief Control Officer (CCO) function in Global Operations. The purpose of the role is to enable FCC Operations within HSBC Operations, Services and Technology (HOST) to operate as the point of accountability for establishing an effective framework for managing operational risk and internal control within Payment Services locally and as directed by the Audit, Operational Risk, Risk Stewards and Business Risk Control Management functions.
- Provide assurance that line management across Payment Services fully considers and consistently manages operational risk to the same optimum standard.
- Direct internal trigger event and thematic control reviews and ensure minimum standards of internal control commensurate with the scale and nature of operations working with the relevant Risk teams across HOST e.g. GO, GSC, ITO and SWD
- Report on the adequacy of the internal control environment and on compliance with regulatory and Group requirements.
- Be a subject matter expert in risk management within Payment Services, providing advice and guidance on an effective internal control environment. The primary objectives of the role are to:
- Drive effective design of material operational controls
- Drive effective design, analysis and remediation of control measures
- Perform deep dive reviews on risk & control environment
- Provide controls consultancy, advice and guidance
- Apply and critique Risk and Control Framework
- Apply and critique definition and application of policies, control standards and procedures
Impact on the Business
Drive effective design of material operational controls by:
- Working with country business lines and functions to implement better end to end and individual control design
- Reviewing and critiquing business process controls both for individual and E2E levels
- Ensuring risk and control standards are considered and incorporated in initial design of new processes and influencing design of automated & manual controls
Driving effective design, analysis and remediation of control measures by:
- Working with country business lines, functions and lines of defence to design key measures and tools to ensure control effectiveness
- Ensuring effective and efficient balance of control effectiveness measures
- Control measures which could include RCA, KRIs, test approaches, reviews, audits, judgment based attestations
- Monitoring and analysing control measures to form opinions on control environment, form risk assessments, advise on remediation plans
- Implementing effective testing strategy
- Reviewing internal and external trigger events within country
- Analysing root cause within country and working with business operations and technology teams to implement remediation measures
- Deploying automated techniques using available tools and technology to test controls, as well as to enhance control environment
- In conjunction with country business lines and functions, develop and monitor risk remediation program activities and actions to ensure progress and path to green
Perform deep dive reviews on risk & control environment by:
- Performing risk assessment deep dives initiated by trigger events such as internal and external incidents
- Conducting deep dive reviews in a timely manner, by those with appropriate expert
Customers / Stakeholders
Provide controls consultancy, advice and guidance by:
- Providing controls consultancy, advice and guidance to stakeholders to ensure that new developments / changes, build in controls requirements from commencement
- Providing controls advice and guidance to stakeholders in remediation activities, to ensure that new remediation is complete, sufficient and sustainable
- Providing ongoing support, advice, and relationship Management for stakeholders in development and support
- Contributing to proposed operational risk policy for the Business or Function and likely impacts to ensure compliance with HSBC Group standards
- Providing guidance and challenge to Risk Owners, Control Owners and CCOs in adhering to the ORMF and operational risk policies, to ensure that use of the ORMF is embedded across HOST
- Supporting the successful implementation of the Operational Risk Transformation Programme (ORTP)
- Providing expert advice to Risk Owners in the completion of scenario assessments
Leadership & Teamwork
- Role model a positive internal risk and control culture across In-country teams and shape the climate, tone and environment in which people work.
- Make considered decisions that protect and enhance HSBC values, reputation and business.
- Demonstrate leadership on the execution of thematic reviews / investigations / compliance reviews in response to internal or external events within the Business Services.
Operational Effectiveness & Control
Apply and critique Risk & Control Framework by:
- Working with HOST in country teams to define and apply HOST Risk & Control standards and processes in order to drive consistency across HOST in country
- Apply and critique definition and application of policies, control standards and procedures by:
- Working with all lines in country of defence to influence definition of policies and control standards
- Implementing clear policy framework across dispensations and waivers
- To share best practices and enhance the control framework and contribute towards reduction of findings noted in Group Audits, Internal Control reviews, etc.
Management of Risk
- Continually assess the risks related to the Business Service, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, organisation change and the impact of new technology.
- Consistently display positive leadership behaviors related to the management and mitigation of risk, including notification and escalation of any concerns and ensuring timely action in relation to points raised by audit and external regulators.
- Continually support HSBC's approach to conduct, which is designed to ensure we deliver fair outcomes for our customers and do not disrupt the orderly and transparent operation of financial markets.
- Maintain awareness of operational risk and minimise the likelihood of it occurring, including its identification, assessment, mitigation and control, loss identification and reporting in accordance with section B.1.2 of the Group Operations FIM
Observation of Internal Controls
- Ensures that HSBC internal control standards are met, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- The jobholder will adopt the Group Compliance Policy by escalating any identified compliance risk in liaison with, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
- This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new 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
- The jobholder is required to work with considerable autonomy, sometimes dealing with issues for which there is no clear cut solution whilst still being required to provide judgment and clear direction. The nature of the role requires close working contact with Senior Executives in FCC Operations, Local Risk & Control Functions and other peer Groups across the locations.
- Regular interact with Ops senior leadership and Global BRCM to report on improvements of the Control Environment.
- Manage and control costs/investments for CCO Operations team within the agreed budget.
- Will also be responsible for local entity management for other team members outside of direct reports, according to HSBC local entity management requirements.
- Functionally reporting into the Business Service Control Expertise Lead
- Close working relationship with senior leadership team to escalate risks and issues as appropriate.
- Need to perform a proactive, collaborative role across area of responsibility and also externally with a comprehensive understanding of the Regulatory environment and emerging risk as well as regulatory issues.
- Global travel required
- Will be expected to implement Group Risk policies and framework for Risk management and the Operational Risk Transformation Framework across LOB.
- The Group has adopted a risk management and internal control structure, referred to as the Three Lines of Defence, to ensure it achieves its commercial aims while meeting regulatory and legal requirements and its responsibilities to stakeholders, customers and staff. All staff must familiarise themselves and adhere at all times with the roles and supporting responsibilities to shareholders, customers and staff. All staff must familiarise themselves and adhere at all times with the role and supporting responsibilities they play in the Three Lines of Defence.
- Executive focus on risk management.
- Operating within changing regulatory expectations, and in an organisation subject to a Deferred Prosecution Agreement.
- Requirement to enhance controls management across a large complex function while the function undergoes significant transformation.
- Strike the correct balance between controls management and commerciality, while holding stakeholders to account for controls performance.
- To cultivate a positive controls culture across the leadership team and throughout the organisation.
- The role is a highly responsive one, driven by events rather than a well-defined routine.
- Flexibility and adaptability – constantly changing priorities and tasks that are potentially highly restricted in nature, unpredictable, wide ranging, complex and time sensitive therefore requiring simultaneous handling of a broad range of issues
- Collaboration – the role must align functional and entity goals and work with peers across Global Operations and HOST CCO to ensure they meet the global agenda
- Proactive identification of issues and initiation of structured discussions with key stakeholders across the Global Business Services and wider Global Operations and CCO HOST community
- Sensitivity and trust – engendering a true sense of urgency, pace, community and collaboration across indirectly managed areas of Global Operations and the wider Group COO community where required.
- Managing Risk activities alongside global and regional functions in line with HOST Operations and COO activities.
- Providing risk guidance in all matters relating to risk information, Helios, key indicators and content.
- Support business initiatives without compromising standards of internal control.
- Emerging markets/risk and rapid growth in the business also pose an operational risk challenge. Support in the ability to influence strategies if the operational risks are perceived to be high.
As you complete your online application, please use source code: Historically Black Colleges
and Universities. If you would like to notify HSBC's Diversity Recruiting team of your application, please e-mail
Qualifications & Requirements
- Detailed understanding of their own business service
- Strong relationship management, and influencing skills with experience of positive, challenging interactions with senior management.
- Previous experience in Operations or Risk Management
- CAMS (Certified Anti Money Laundering Specialist)
- 8-9 years of experience with Financial Crimes and AML
- Communication - Ability to present complex issues confidently and concisely to Senior Executives, Global HOST Management team and key stakeholders using simple language and accommodating globally distributed stakeholders
- Analysis/strategy – Ability to distil complex and varied information into useful, insightful and concise recommendations.
- Drive and self-motivation
- Proactive and delivery focused to ensure individual tasks are completed on time and to the required levels of quality.
- Ability and drive to successfully deliver multiple, wide-ranging priorities, often under stringent time pressures in a dynamic environment
- Good planning, and organization skills
- Make considered decisions that protect and enhance HSBC values, reputation and business.
The following, whilst not essential, would be advantageous:-
- Ability to build senior relationships by communicating, influencing and negotiating effectively with senior management, key stakeholder and internal management teams.
- Excellent understanding of, and experience in managing operational risk.