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Risk and Compliance is a global function that brings together all aspects of regulatory and financial crime risk management. Acting as risk stewards, and incorporating a range of specialist teams, we work together with the business and leverage advanced technology to help HSBC navigate a complex regulatory landscape and embed a sustainable approach to compliance risk management that supports safe growth and ensures fair outcomes for clients. Compliance aspires to continuously raise the bar and set leading standards across the industry to help HSBC safeguard its customers and the communities within which it operates.
We are currently seeking a high calibre professional to join our team as a Senior Vice President, Regulatory Compliance (Insurance).
Principal Responsibilities
In this role you will
Provide compliance advisory to the insurance business through proactive and practical advice, with focus on regulatory compliance matters, covering local regulatory requirements, expectations as well as the bank policies and frameworkExercise risk stewardship challenge relating to Compliance risk taxonomies incident management, such as in governance forums and through effective issue management, foster a strong compliance culture with business risk and control ownersPromptly communicate new regs or changes in regulations that have impact on insurance business, including keeping abreast of key local regulatory change and oversight on business’ development of appropriate policy and framework to manage to the changesActively participate and engage with risk and control owners in managing the new product and services development, to ensure that potential compliance issues are properly addressed at the early stageIdentify regulatory compliance issues timely, with a view to resolve them promptly to ensure compliance risks are addressed and mitigated. Report and escalate material issues to relevant stakeholders and management from time to timeMaintain strong relations with regulators and industry bodies, including oversight on regulatory inspections and responding to any regulatory compliance queries from regulators. Prepare and furnish governance reports related to regulatory compliance matters and think critically to challenge any business inputs to these reports, to local, regional and head offices as requiredDevelop strong communication and working relationship within other stakeholders within the insurance and banking compliance counterparts in country and ASP/Group to ensure implementation of regulations, new policies and standards of the bank and other related requirements. Maintain and observe all HSBC control standards and implement and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators pertaining to regulatory compliance functionProvide advisory support on MAS corporate governance related regulations such as appointment of key executive persons, individual accountability and conduct guidelines requirements