Snr RC Mgr, RAP and GB, Korea

The Snr RC Mgr, Regulatory Affairs & Policy and Banking for Korea is the senior accountable role responsible for ensuring that HSBC’s operations in Korea are effective in identifying, managing and mitigating Regulatory Compliance risks and ensure timely advice is provided to the business.     

 The responsibilities of Snr RC Mgr, Regulatory Affairs & Policy and Banking are to:

• Regulatory Compliance Stewardship on Banking
  
  

• • Primarily to support the Head of Regulatory Compliance, to maintain an effective control framework and to ensure compliance with all relevant external laws & regulations, internal codes and policies and good market practices. With primary focus on GB-Banking.
  • Articulate the Regulatory Compliance risks for Korea.
  • Provide advisory services to Banking business in order to ensure clear understanding of regulatory compliance risk exposure with respect to clients, transactions and products.
  • Manage the relationship with relevant regulators on behalf of HSBC Korea.
  • Be responsible for second line governance of Regulatory Compliance risks exposures, providing analysis, reporting and governance to Korea that is independent of the first line of defense, thereby maintaining an objective assessment of risk exposure.
  • To exercise risk steward challenge, act as independent trusted advisory in governance forums, issue management, fostering a compliance culture and optimizing relations with risk owners and control owners.
  • Assist the senior management of Korea, the leadership of the Compliance function, and other colleagues on all material regulatory compliance related matters.
    
    

• Regulatory Affairs & Policy

• • Regulatory Engagement: delivering proactive and more consistent management and oversight of regulator relationships globally/regionally/country
    • Act as an SME in respect of the regulatory engagement, ensuring that Korea maintains full oversight of all relevant engagement. “Regulatory Engagement” for these purposes includes meetings, visits, reviews, thematic work, investigations, enforcement activities, reporting, information provision, correspondence and similar and whether of a regular, recurring or ad hoc nature.
    • Manage the relationship and engagement with the Korea’s Regulators and other Regulators as appropriate on all matters relevant to the Regulatory Compliance Function.
    • Ensure that the respective Regulators’ agendas and requirements are understood, communicated and met
    • Support relevant senior management in material engagement with the Regulators; including preparation of Briefing Notes and attendance at meetings as and when required
    • Engagement on Regulatory Compliance related matters with Regulators, working with relevant RC colleagues, Global Businesses, Global Functions and DBS, as required.
    • Support overseas engagement for example between Korea regulators and non-Korea businesses as appropriate and vice versa
    • Monitor regulatory engagement trends for regulators and provide updates, reporting and guidance as appropriate/required.
    • Provide guidance to the Regions/Country and Global Businesses regarding regulatory engagement trends/developments which may affect them, as required.Supports HSBC strategy through a leadership accountability, for a part of a function or functional responsibility within Global/Region, in line with designated responsibilities.
      
      
  • Regulatory Development: identification and oversight of upcoming and in train material regulatory compliance developments, supporting the Group to address regulatory change.
    • Lead delivery of the strategic direction of the Regulatory Affairs sub-function of Regulatory Compliance where appropriate acting as the sponsor for delivery of strategic projects. 
    • Lead formalization and maintenance of the Compliance portfolio of regulatory development and change themes, to be agreed as the demand requires. Ensure the effective hand-off to the Risk Stewards within Regulatory Compliance to enable them to provide 2nd LoD oversight of implementation of regulatory change.
    • Lead the approach to the definition and communication of the range of global themes within the remit of Regulatory Compliance and build more effective external networks across the external regulatory policy teams (as opposed to the supervisory teams) and engaging effectively, directly or indirectly, with Trade Bodies.
    • Proactively engage with and support consultation responses and wider industry discussion and similar work in relation to material regulatory developments, working collaboratively with other relevant internal stakeholders, including e.g. the Legal function, Group Public Affairs and regulatory development specialists in the Global Businesses and other Global Functions.
    • Ensure production and delivery of appropriate Management Information and reporting is provided to key stakeholders across the group as it relates to the risk of ineffective response to regulatory change
      
      
      

• Impact on the Business
  
  

• • Oversee the critical Compliance policies and systems that impact Korea and ensure that the Group’s exposure to Regulatory Compliance risks is managed in a commercially sensitive, practical and cost-effective manner.
  • Provide advice and support on Regulatory Compliance risks to senior management, Compliance and other colleagues.
  • Membership of relevant regulatory compliance related executive committees/forums/governance meetings.
    
    

• Customer / Stakeholders
  
  

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

• Leadership and Teamwork

• • Support to develop the Risk & Compliance Function for Korea liaising closely with functional reports and (where relevant) with local line managers.
  • 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.
  • Create an environment for the delivery of consistent performance measurement, training, career management and succession planning across the Korea Risk & Compliance capability.
  • Establish a strategy for the sharing of Regulatory Compliance risks related compliance knowledge and best practice across Korea and the wider Risk & Compliance Function and Group.
    
    

• Operational Effectiveness and Control

• • Create a framework for the effective risk-based monitoring of the implementation of Regulatory Compliance risks related policies and controls across Korea.
  • Agree and oversee the implementation, embedding and monitoring of the adherence to the Compliance FIM in Korea.

Qualifications 

• Significant experience as a regulator, or a senior compliance manager across all areas of Regulatory Compliance risk within a global firm, in the financial services industry. 
• Thorough understanding of Banking business with practical knowledge of broad range of Banking products and services.
• Excellent communication and inter-personal skills, with experience of dealing with executives at all levels.
• Ability to develop practical, cost effective solutions to complex issues.
• Strong knowledge and understand of the regulatory environments- regulatory, political and market
• Knowledge and understanding of Compliance within a complex global organization.
• Proven experience as a senior leader in a complex organization.
• Conversant in dealing with regulatory authorities.
• Fluency in English & Korean.
• Demonstrable experience dealing with and influencing internal and external stakeholders and regulators.
• Detailed and extensive knowledge of the HSBC Group structure, its business and personnel, and HSBC’s corporate culture.
• Good people management skills and experience
• A legal or formal accountancy qualification or professional background in a relevant risk or audit discipline.