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Job Title: Senior Compliance Officer Regulatory Compliance
Company Name: HSBC
Location: Buffalo, NY
Position Type: Full Time
Post Date: 11/09/2017
Expire Date: 12/09/2017
Job Categories: Accounting/Auditing, Administrative and Support Services, Advertising/Marketing/Public Relations, Customer Service and Call Center, Finance/Economics, Financial Services, Human Resources, Information Technology, Law Enforcement, and Security, Military, Sales, Executive Management, Quality Control, Research & Development
Job Description
Senior Compliance Officer Regulatory Compliance
Serves as a Local Compliance Officer (LCO) for an assigned business line, global function or HSBC Technical Services (HTS), provides regulatory compliance expertise and guidance in an advisory capacity to senior management in support of strategic initiatives and management of compliance risk. This role typically reports to either a SVP LCO or VP Director LCO. May be responsible for the management of AVP LCO or LCO Officer staff.

Develops and maintains appropriate compliance policies, programs, and controls for area(s) of responsibility, with minimal supervision. Works proactively with the business lines/global functions/HTS senior management, Business Risk Control Managers (BRCMs), and other compliance professionals to ensure that best practices and systems are in place to ensure compliance enterprise wide and meet regulatory expectations. General areas of responsibility include advisory of regulatory matters, monitoring of business activities from a compliance perspective, training and education, drafting and revising Compliance owned policies and procedures accordingly.
Impact on the Business
  • Reviews and advises on new and or revised business strategies, initiatives, and projects, which may include assisting businesses in assessing the risks associated with new/revised strategies and recommending and or assessing mitigation efforts to reduce risk exposure.
  • Helps review vendor services prior to contractual engagement and during the course of the contractual arrangement, including any modification with regard to the services performed or a change in product.
  • Assists in delivery of the annual training and communication plan for assigned area as appropriate, in coordination with Compliance Training and Outreach and the Regulation Coordinators. This includes conducting business unit training needs assessments, participating in the development of compliance training content for business unit personnel and providing ad hoc training as needed.
  • Coordinates outreach efforts relative to Compliance procedures, regulatory, and technical/procedural updates.
  • Advises business units on the development of action plans to implement new or changed regulatory requirements. Action plans may include the development of, or changes to, existing training materials, policies, procedures, system and other controls, monitoring/testing processes, and reporting.
  • Reviews new and/or enhanced products and services as part of the New Product Due Diligence (NPDD) process to assess compliance risks and ensure adherence with regulatory requirements.
  • Reviews as requested marketing and advertising initiatives, disclosures, strategies, and materials and other communications to ensure adherence with applicable regulatory requirements.
  • Oversees, as required, specific KRIs and KPIs within area of responsibility. Key Risk Indicators (KRIs) / Key Performance Indicators (KPIs) must be developed and agreed upon between the business and the LCO.
  • Provides business unit management with adequate reporting and MIS regarding Compliance related activities and initiatives relevant to the business and its operations.
  • Escalates any significant compliance issues and trends to business unit senior management, HNAH Compliance management and Group Compliance.
  • May also serve as a coordinator for a specific regulation. If responsible for a specific regulation, ensures all appropriate compliance initiatives are carried out, including action plans and any remediation associated with the results of any relevant Business Risk Control Management (BRCM) reviews, Compliance Test and Control (CTAC) testing and Internal Audits. Works with the CTAC Team to specify targeted testing for the following calendar year.
  • On an annual basis, ensures that a Training Needs Assessment has been created, as appropriate, to reflect the training required by the lines of business and by Compliance. Prepares summaries on compliance with the regulation for senior management, and/or Committees/Boards or Executives as required.
Customers / Stakeholders
  • Maintains good working relationships with business and senior management in line of business or global function assigned.
  • Advises business management and the BRCM function to ensure that appropriate compliance programs, policies, procedures, and other controls are in place and operating effectively and satisfy supervisory obligations.
  • Reviews regulatory feedback and customer responses to ensure that compliance issues raised in feedback are appropriately responded to and necessary corrective actions are initiated.
  • Liaises with the relevant Internal Audit and with other control functions (e.g., Finance, Credit, HR, Corporate Secretary’s Office, Tax and Security), in relation to compliance matters, including the provision of technical support and guidance.
  • Provides on-site business unit support during compliance-related regulatory examinations.
  • Monitors the status of any material compliance issues identified and reported by CTAC, Compliance Inspection Unit (CIU), BRCM, regulators or Internal Audit and provides updates to business unit management and Compliance senior management as necessary.
Leadership & Teamwork
  • Provides project support, as requested, on compliance-related projects and initiatives. Manages staff, including day to day focus and responsibilities.
  • 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
  • Coordinates regulatory matters, including examinations, inquiries and investigations.
  • Reviews business unit incidents and exceptions to assess compliance and/or reputational impact, which may include reviewing, advising and approving any required remedial action plans, and ensuring proper reporting, tracking and resolution of action plans that address compliance deficiencies.
  • Assists in preparing an annual plan for areas of responsibility that adequately reflects these accountabilities, the compliance risks (including money laundering risks) in their area and the resources needed to do the job. Agrees to the plan with their CEO and functional managers.
  • Advises business units as they conduct Compliance Detailed Self Assessments (CDSAs) and the development of appropriate mitigating controls/action plans. Assists in completing the Enterprise-wide Risk Assessments (ERAs) as well as any relevant functional risk assessments for respective business unit and Compliance.
  • Assists in drafting, editing, and maintaining LCO Compliance team procedures for area of responsibility.
  • Escalates any significant compliance issues and trends to business unit senior management, HNAH Compliance management and Group Compliance.
  • Provides support, in conjunction with business line management, in developing and maintaining processes to monitor and report on the effectiveness of the first and second lines of defense against compliance risk at the business unit-level. Completes Monthly LCO Reports in accordance with the centralized reporting processes established by MIS Strategy.
  • 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.
Major Challenges
  • Maintains a compliant business in light of the challenging regulatory environment.
  • Balances the increasing demands placed upon the business by the introduction of new or revised regulatory requirements.
  • Operates effectively under the pressure of deadlines, constant regulatory oversight, and business unit performance.
  • Helps ensure future business growth is attained in a responsible and conscientious fashion while the operation remains regulatory compliant and commercially sound.
Role Context
  • Sets priorities and makes day-to-day decisions independently.
  • Escalates matters to senior management as appropriate.
  • Communicates effectively and professionally, and conveys the key information needed to ensure compliance goals are met.
  • May serve as a subject-matter expert for specific regulations, regarding its purpose and legislative history, remaining aware of changes to the regulation or to applicability of the regulation to the businesses in the US. If responsible for a specific regulation, serves as the central point of contact for US Compliance and oversees the accuracy of the information regarding the regulation in the risk assessment tools while serving as the advocate for consistency for controls.
  • May provide compliance support, advice, and guidance to the CCO of HSBC Bank USA, N.A. and the GBM Global Markets businesses in connection with Titles VI (Volcker Rule) and VII (swap dealing activities) of the Dodd-Frank Act as it applies to each area of Compliance coverage. Ensuring that rules and regulations applicable to HSBC Bank USA N.A. as the CFTC registered Swap Dealer will be considered and their requirements incorporated in the Compliance officer’s overall day to day job responsibilities. This includes, but is not limited to, updating policies and procedures, line of business reviews, training, surveillance, registration obligations, regulatory reporting and risk assessments, and escalation of any potential issues of non-compliance to the CCO. Work with GBM line managers to see that they are informed of the Dodd Frank related requirements and assist them to implement these requirements in the GM business.
Management of Risk
  • Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues., 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.
  • 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.
  • Adheres to the Firm’s Statement of Business Principles and Code of Ethics.
  • Provides compliance advice to assigned area to help ensure an appropriate culture of compliance continues to develop in the daily activities of the front line and support units.
  • Ensures delivery of effective compliance reviews and advice on new and revised business strategies, initiatives and projects for assigned area.
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.
  • Helps ensure alignment with regulatory requirements, HNAH’s Enterprise Compliance Policy and Program, the Compliance Risk Management Program (CRMP) Manual and other Group policies.

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

  • Strong background in compliance within a financial services environment and be able to understand, interpret, and apply complex regulatory requirements to business practices.
  • Minimum of seven years proven audit, compliance, financial services operations and/or regulatory experience, or equivalent.
  • Well-developed communications, negotiation, analytical, organizational, project management, and strategic and/or operational planning skills.
  • Supervisor/management experience preferred.
  • Minimum of a Bachelor’s degree in business, related field or equivalent experience.
  • Ability to meet deadlines.
  • Proactive and independent.
  • Proficiency with personal computers and software packages including Microsoft Excel, Word, and PowerPoint.

  • Preferred candidate would have:

    • Insurance Life and Health
    • Series 7
    • Series 63
    • Series 65 (or 66 in lieu of the 63 and 65)
    • Series 9/10
    • Series 24 

  • We would also consider candidates without any licensing with a contingency requirement to get all or the remainder of the licensing noted above.

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Company Name: HSBC
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