Regulatory Conduct Capabilities

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COMPLIANCE

The Compliance function is a Second line of defence (LOD) function, responsible for reviewing and challenging the activities of the Group’s businesses (also referred to as “the First LOD”) to ensure that they effectively manage the Regulatory and Financial Crime Compliance risks inherent in or arising from the conduct of their activities and for which they are responsible. The Second LOD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LOD. The Compliance function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group’s risk framework

The Compliance Officer for HSBC International Banking unit, Gift City (HIBU) is an accountable executive responsible leading the Regulatory Compliance function. The Compliance officer will also be the line manager for Financial Crime Risk resource.

The responsibilities of the SVP Compliance Officer - HIBU are to:

• Responsible for maintaining a strong Compliance culture in the branch, interact with regulators/supervisors directly and act as SPOC for regulators.
• Monitor, communicate and coordinate applicable Laws, Rules and Regulations issued by the IFSCA from time to time.
• Ensure tracking, monitoring and submission of various returns and ad-hoc requests from the Regulator.
• Implement policies and regulations with respect to Anti Money Laundering / Combatting Terrorist Financing and Sanctions
• Act as a Principal officer for Anti Money Laundering (AML) related matters for regulatory authorities
• Periodic review of IBU branch policies, new product SOPs and product notes and ensure modification / update on any gaps in policies or frameworks.
• Support and guide business, product and functional teams for new product launches, risk assessment, interpretation etc.
• Responsible for compliance governance and ensuring adherence to Bank's Compliance Policies /Standards /Procedures.
• Provide relevant and timely compliance advisory (including on matter concerning financial crimes compliance) to the Branch Management and internal stakeholders.
• Participate in and conduct compliance testing in order to effectively identify, detect and remediate of compliance gaps and risks.
• Implement Global Policies, Standards, Procedures, within the branch keeping in view the applicable local regulatory as per IFSCA requirements/expectations.
• Support first line of defense across all business lines in GIFT city branch by advising them with prompt and balanced solutions while ensuring that key compliance risks and regulatory requirements are duly addressed.
• Drive and support high standards of compliance framework through the ongoing delivery of an organized and structured Compliance Program (including financial crimes compliance), periodic Compliance Risk Assessment and Management Information.
• Impart trainings on various compliance topics to FLOD while implementing a new Policy/Procedure and on an ongoing basis, as per Bank's internal framework.
• Escalate critical compliance matters to the senior management, under guidance from local/ regional/global compliance management.

Conduct assessments of all new products, processes and systems from Compliance Risk perspective and prepares compliance risk evaluation and provides sign-off.

Principal Accountabilities: key activities and decision-making areas

The following principal accountabilities are aligned to the Compliance Services and Processes Model. Additional detail is available in the Model.

Impact on the Business

• Support in overseeing the critical Compliance policies and systems that impact HIBU and ensure that the Group’s exposure to Regulatory Compliance is managed in a commercially sensitive, practical, and cost-effective manner.
• Provide advice and support on Reg Compliance matters to senior management, Compliance, and other colleagues.

Customer / Stakeholders

• Reporting to Head of Reg. Compliance CMB & GB as relevant on Reg. Compliance matters.  
• Ensure that senior management are appropriately advised of all material Compliance related matters relating to HIBU.
• Manage and foster a strong relationship with all relevant regulators in relation to the activities of HIBU CMB & GBM and ensure timely disclosure of relevant information, in relation to financial crime, and regulatory compliance related matters.
• Ensure that positive relationships are maintained with other external stakeholders relevant to the Compliance agenda.

Leadership and Teamwork

• Maintain and develop positive and professional working relationships with senior business managers and Compliance colleagues at the Group level and those in other Regions and Businesses.

Operational Effectiveness and Control

• Create a framework for the effective risk-based monitoring of the implementation of Regulatory Compliance related policies and controls across HIBU CMB & GBM.
• Agree and oversee the implementation, embedding and monitoring of the adherence to the Compliance FIM in HIBU CMB & GBM.
• Monitor and assess the resourcing, costs and spend of the HIBU CMB & GBM Reg. Compliance team.

Management of Risk

This will be achieved by ensuring all actions take account of the likelihood of Compliance risk occurring and by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Observation of Internal Controls

Managers are accountable for setting the ‘tone at the top’ which underpins the principles of a positive and effective internal control environment.  They should exhibit leadership and direction to their teams for establishing and maintaining an effective internal control environment, including the development and management of policies and procedures where appropriate.  Managers should also ensure that suitable processes are put in place to review and oversee that internal control environment against those policies.

Certifications, Qualifications and Experience

• Significant experience as a regulator, or a senior compliance manager across all areas of Compliance risk within a global firm, in the financial services industry. 
• Detailed and extensive knowledge of the HSBC Group structure, its business and personnel, and HSBC’s corporate culture.
• Significant leadership experience and an experienced strategic thinker.
• Excellent communication and inter-personal skills, with experience of dealing with executives at all levels.
• Ability to develop practical, cost effective solutions to complex global issues.
• A legal or formal accountancy qualification or professional background in a relevant risk or audit discipline. 

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment.

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