HSBC Senior Analyst Regulatory Compliance Monitoring & Testing in British Columbia, Canada

Employment Type: Regular

HSBC’s Second Line of Defense Compliance Monitoring and Testing (CMAT) provides periodic monitoring and comprehensive testing for Financial Crime (FCC) and Regulatory Compliance (RC). The bank’s Monitoring and Testing model will operate consistently in all countries to deliver greater transparency and consistency of the reporting of global RC & FCC risks. The country teams will carry out independent monitoring activities across the following business lines in Global Banking Markets (GBM), Commercial Banking (CMB), Retail Bank Wealth Management (RBWM) and the Global Functions in order to obtain reasonable assurance that the business is operating in line with relevant laws, regulations, codes and HSBC Group Standards within Financial Crime Compliance and Regulatory Compliance.

The purpose of this position is to perform periodic testing reviews of the compliance control framework as directed by CMAT management. The objective of these reviews is to assure compliance with internal and external policies and procedures and with laws and regulations that are applicable to the Canada’s banking activities. Their focus will be on control activities within and across the four business / function lines and in related support activities (e.g. IT, MIS, Operations).

Principal Accountabilities: Key activities and decision making areas

Impact on the Business

  • Contribute to the activities of Canada RC Monitoring in-country teams

  • Ensure local monitoring activities are in accordance with Global monitoring policies and conducted as a second line of defense.

  • Ensure local monitoring activities provide adequate coverage of the Group’s key regulatory risks, liaising with Global Compliance teams

  • Ensure monitoring activities remain independent.

  • Foster a close working relationship with key stakeholders in the region and in the country

  • Contribute to the preparation of Compliance Risk Assessments, drawing on the experience and knowledge of the RC & FCC team and with the active participation of senior managers in the Business.

  • Proactively assist management in identifying and containing compliance risk. Contribute to the preparation of the country Annual Test Plan

  • Contribute to the preparation of consolidated MI on the results of monitoring across the different sites for Senior Management in the Business. Contribute to the provision of education and support to CMAT specialists on risk assessments, planning and conducting reviews.

  • Prepare reports to inform key stakeholders of the outcome of monitoring and review work, including rating findings and assigning owners/actions

    Customers / Stakeholders

  • Canada Head of Monitoring & Testing

  • BRCM teams for Businesses and Functions.

  • AML Operations Head and team

  • Canada CMAT team

  • Vizag CMAT team & Vizag governance head

    Leadership & Teamwork

  • Drive excellence, consistency and quality across the entire CMAT team

  • Demonstrate core behaviors and values including teamwork, focus, drive and determination.

  • Foster a close working relationship with the local RC & FCC CMAT teams and businesses.

  • Work collaboratively across peer group and the organization.

  • Remain up to date with key business developments and regulatory and industry practices.

  • Participate in the full Compliance Monitoring review cycle.

  • Communicate effectively at all levels to engage with senior stakeholders within the functions.

  • Promote an environment that supports diversity and reflects the HSBC brand.

    Operational Effectiveness & Control

  • Provide accurate and timely value adding input during all stages of the Compliance Monitoring review cycle including planning, fieldwork, reporting and follow up.

  • Monitor changes to Global Standards and process to ensure that the Compliance Monitoring activities are adjusted appropriately

  • Assist with liaison with Group Audit, Operational Risk Internal Control and Business Risk Control Managers in relation to Compliance Monitoring matters.

  • Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.

  • Complete other responsibilities, as assigned.

    Major Challenges

  • Deliver requirements of a wide range of stakeholders

  • Understand and respond appropriately to local differences maintaining trusted relationships whilst delivering the Group’s wider strategic objectives

  • Ensuring there is adequate independence of the monitoring function.

  • Maintain and enhance standards of Compliance in a rapidly growing and diversifying business.

  • Fostering and maintaining an attitude of ‘can do’ within CMAT.

    Role Context

  • Work collaboratively within the immediate team and more widely within the CMAT team.

  • Contribute to your team’s delivery of outstanding performance (client service, behavioral expectations, and adherence to Compliance Monitoring Plans).

  • Work with the team to provide a highly professional, competent and skilled service to the Business.

  • Exercise any/all delegated authorities with due care and diligence.

  • Take decisions based on your knowledge and experience.

  • Think proactively and come up with ideas for enhancements to monitoring activity.

    Management of Risk

  • Ensure compliance of both general and anti-money laundering and anti-terrorist financing (AML/ATF) compliance controls as well as operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.

  • Be aware of the Operational Risk, primarily Business Regulatory Risk, associated with the business. Conduct monitoring in accordance with the Principal Accountabilities set out above.

  • Contribute to the Compliance Risk Assessment process on an ongoing basis.

    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.

  • Assist in the discharge of accountabilities set out in the Compliance FIM by proactively assisting Compliance in their responsibilities to assist management in identifying and containing compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators.

  • Immediately escalate to the Regional Head any material actual and potential breaches of Law, Rules and Regulations

  • Good understanding and experience of Regulatory Compliance and/or Financial Crime regulations

  • Minimum of a Bachelor degree in business, law, accountancy or related field or equivalent experience.

  • Experience of control testing gained within a financial services organization or audit/consulting practice

  • Awareness of good risk management and governance frameworks including 3 lines of defense criteria

  • Understanding of the activities of relevant business lines and associated compliance risks

  • Strong interpersonal skills with the ability to communicate effectively at all levels and to engage with senior HSBC staff within the functions

  • Ability to foster relationships whilst providing adequate challenge and effecting change

  • Ability to work under pressure and within tight time-lines

  • Excellent verbal and written communication skills – ability to communicate complex regulatory issues in writing

  • Proven team player with an open communication style

Job: *Risk Management

Title: Senior Analyst Regulatory Compliance Monitoring & Testing

Location: Canada-British Columbia-Burnaby

Requisition ID: 000086Q1