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Manager Pension Risk Governance|
- Provide support to the US Head of Pension Risk, US Pension Risk Steward, US CRO and Global Head of Pension Risk in the shaping and stewardship of the pension risk management infrastructure of North America Holdings Inc. (HNAH), to support effective risk and capital management of pension risk, by establishing and maintaining assessment mechanisms, governance and guidelines for management of pension benefits risks (which include non-qualified and post-employment medical benefits).
- Support the end-to-end delivery of supervisory and regulatory requirements, including OCC Heightened Standards, collaborating with senior stakeholders across Risk and the Business to drive progress and ensuring deliverables resolve regulatory concerns.
- Assist in the delivery and execution of the Risk Assessment Matrix; a program designed to gauge the quantity and quality of risk management capabilities across the Three Lines of Defense.
- Assistance in the maintenance, communication and embedment of the HNAH/HBUS Enterprise Risk Management and Pension Risk Frameworks, as well as individual Risk Discipline and business frameworks.
- Support and coordinate the delivery of documentation, responses, presentations and evidence as required by supervisory assessments and examinations (FRB EWRM Exam, OCC Examinations), as well as Executive Management requests.
Impact on the Business/Function
The role covers all plans in the country with priority for the larger ones:
- Carry out the 2nd line review and challenge and oversight to pension activities in the country, including coordinating the Pension Risk Register and accompanying Risk and Control Assessments (RCAs) to ensure comprehensive and robust controls and their effectiveness;
- Provide assistance and materials to Senior Management Meetings including the HNAH Pensions Escalation Forum, Risk Management Meetings, Global Pensions Oversight Forum preparation of associated materials as well as help shape the agenda;
- Keeping abreast of pension regulatory changes, especially with regards to accounting and economic capital in the USA;
- Maintaining the HNAH risk map for pension and the top and emerging pension risks in the country for escalation to the appropriate risk and pension committees;
- Coordinating and supporting the embedding of the pension risk appetite statement for the country and ensuring alignment with the Global Pension Risk Appetite Statement;
- Support the de-risking strategy and activities in the country;
- Coordinating between HR and Finance for Financial Crime Compliance of schemes in HNAH, ensuring alignment with FIMs and appropriate management information reporting;
- Closely coordinating with the Global Pension Risk team to ensure alignment with group pension FIMs, philosophy and risk management framework, and work closely with HNAH HR, Finance and wider risk teams to accomplish a joint vision for pension strategy;
- Support effective and efficient governance of pension risk in HNAH with focus on the 2 large HNAH DB and the DC plans; this includes monthly or quarterly reporting of the HNAH pension risk map, top and emerging risks, regular review of the pension risk appetite statement, risk and control assessments, risk management framework, etc.
- Support the semi-annual execution of the Risk Assessment Matrix, including creation of relevant templates and coordinating reporting to the business, senior management, risk committees, the Board and external regulators.
Customers / Stakeholders
- Develops and fosters positive working relationships with stakeholders and Fiduciaries across all businesses, 3LOD and globally to support adherence to, regulatory requirements and to ensure common understanding of critical issues. Offers guidance and advice to appropriate stakeholders.
- Prepares content for Risk Strategy at appropriate governance forums.
- Networks and builds relationships with stakeholders, anticipating and identifying their needs.
- Liaises with Risk and Compliance stakeholders to ensure a strong second line of defense and in support of first line of defense efforts and responsibilities.
Leadership & Teamwork
- Ability to work independently and in a diverse team as a second line risk governance manager locally and globally.
- Positively influence and motivate to resolve issues that arise.
- Engages with Risk sub-functions and other senior executives to strategically drive the supervisory and risk governance efforts.
- Maintain and develop positive and professional working relationships with colleagues at the Group and Regional levels to effectively implement the pension risk governance structure.
- Provides project support, as requested, on risk-related projects and initiatives.
- Implementation of effective processes and governance to deliver against team mandates.
Operational Effectiveness & Control:
- Implementation of effective processes and systems supporting risk strategy and HNAH Pension Risk.
- Ensure that the effectiveness of internal control activity is properly monitored.
- Manage and support processes & systems ensuring a robust Risk Governance strategy.
- Ensure that the effectiveness of Internal Control activity is properly monitored, including all regulatory and compliance matters and the management of operational risk.
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.
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.
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.
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.
The following statement is only for roles with core responsibilities in Operational Risk Management (Risk Owner, Control Owner, Risk Steward, BRCM, and Operational Risk Function
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.
This will be achieved by:
Continuously reassessing 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.
Ensuring all actions take account of the likelihood of operational risk occurring, addressing areas of concern in conjunction with Risk and relevant line colleagues, and also by ensuring that actions resulting from points raised by internal or external audits, and external regulators, are correctly implemented in a timely fashion.
Observation of Internal Controls
The jobholder will also adhere to and be able to demonstrate adherence 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.
The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, 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.
Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Engaging and influencing varied stakeholders at all levels within the organization both locally and globally.
- Implementation and driving a strong risk management function.
- Working in an environment of significant change and ability to handle pressure.
- Applicant should be able to understand and differentiate between the requirements of Group and local US regulators and requirements and intelligently apply these requirements where needed in the course of US Risk Strategy Work.
- Ability to shift priorities frequently and direct attention to multiple tasks simultaneously.
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
- Undergraduate in Mathematics, Economics, Business Administration, Finance or a related field.
- Relevant pensions/actuarial qualification desirable.
- Understanding of HSBC’s overall business and culture.
- Experience with corporate pension plans.
- Experience in Banking, compliance, risk management and / or internal audit.
- Pension/ Project / Risk management experience.
- Strong business analysis, problem solving and presentation (written and verbal) skills.
- Communication and interpersonal skills, including the capacity to articulate the case for risk management in the language of business.
- Proven ability to prioritize competing demands.
- Financial and accounting acumen.
- Ability to think creatively and develop innovative solutions.
- Strong analytical skills.
- Understanding of the USA pension regulatory requirements & developments and challenges faced by the pension system an advantage.
- Understanding of macroeconomic environment and investment market desirable.
- Full knowledge of the Microsoft Office product suite.
- Ability to explain complicated issues in simple terms.
- Organized, delivery focused with a keen sense of attention to detail and capable of interpreting and analyzing complex information/ data and translating this into practical information and recommendations for management.