Senior Vice President, Head of Sales Compliance, Global Markets Regulatory Compliance, Americas
Provide Compliance global leadership and oversight to the Global Markets (GM) Sales business across all relevant asset classes – specifically Fixed Income, Currencies and Commodities (FICC), Futures, and Equities (Cash, Derivatives and Prime Finance) businesses - in order that line management can ensure that the business is conducted in accordance with all applicable laws, rules, regulations and codes of practice.
Lead independent oversight and challenge of the regulatory risk management practices across the business ensuring the business objectives are aligned to regulatory requirements
Partner with regulatory change and other regulatory SMEs to understand new and revised regulatory requirements, codes of practice etc, ensuring changes and that any impact is disseminated to the appropriate Businesses
Serve as SME for all Sales related materials including policies, procedures, guidance notes for the Americas Region, including the cross selling of products across business lines
Represent Global Markets Regulatory Compliance Americas, monthly in the Sales Business Control Committees
Coordinate with other Compliance Officers regionally and globally to provide advisory guidance, support and policy interpretation to ensure a consistent, best practice and ‘joined-up’ approach to the oversight of the businesses
Impact on the Business
Facilitate the management of compliance risk by those responsible for the conduct of the Group’s business in Global Markets.
Define policies and standards to cover compliance issues.
Advise line management of the impact on the business of applicable laws, rules and regulations such as those related to suitability, sales practices, customer communications, 15a-6, and market commentary.
Conduct investigative work on specific issues, incidents or regulatory concerns as they arise as an integral element of a forward looking risk management framework
Assist line management in handling real-time issues that arise on the trading floor.
Foster good relations with regulators.
Escalate all material and significant breaches or potential breaches of regulations as soon as practicable to Markets Regulatory Compliance and business management.
Represent Compliance on a number of internal Committees opining and or providing justification / guidance on regulatory issues
Customers / Stakeholders
Build and ensure strong relationships with key stakeholders and team members, adopting a collaborative approach
Analyse stakeholder goals vs regulatory requirements and effectively manage their expectations, addressing any misalignment
Maintain contact with key senior Stakeholders and Compliance management to identify and communicate status, progress, risks and issues
Manage and negotiate policy decisions and business solutions so that key stakeholders are bought into decisions that optimise effectiveness for HSBC
Leadership & Teamwork
Lead by example to other team members, demonstrating core behaviours and values including teamwork, focus, drive and determination.
Work collaboratively across peer group and organisation.
Collaborate and foster good relations with the business, Compliance teams and departments.
Must have appropriate interpersonal skills to be able to integrate into an existing close team and smoothly implement change.
Undertake line management responsibility, if and when assigned from time to time, for Compliance officers in the Global Markets FICC and Equity advisory teams including motivation and performance management in accordance with HSBC’s policies and requirements.
Must have a strong personality to be able to cope with the demands of facing the business in challenging situations
Must be able and willing to identify and undertake the necessary actions to provide solutions needed to discharge effective compliance advice to the FICC and Equity businesses
Operational Effectiveness & Control
Advise the business on the introduction of new products and services.
Compliance coverage/support for the business line will reduce compliance, business and operational risk for the business area.
Assist the business with the preparation of manuals and procedures (regulatory / compliance input only) as required.
Identification and delivery of compliance training needs for the business.
Managing and/or participating in internal and external investigations into compliance related matters.
Keeping abreast of regulatory developments and anticipating changes in order to ensure accuracy of advice provided to the business.
To meet the demands to discharge advisory and control duties in relation to FICC, Futures and Equity business lines in order that line management can ensure that the business is conducted in accordance with all applicable laws, rules, regulations and codes of practice. Commensurate with experience and grade.
To work with the business on high profile projects to ensure that the regulatory demands of those projects are met.
To provide the business with clear analysis, decisions and guidance in relation to business proposals, transactions and plans in the context of regulatory rules and regulatory change.
To deliver on a programme of training for relevant businesses in accordance with Markets Regulatory Compliance and business training requirements.
To play a leading role in the FICC, Futures and Equity teams delivery of resolving compliance matters and requests which arise in the FICC and Equity business areas.
Provide compliance support and input as required to team members undertaking the Global Markets Due Diligence approval process and to respond within agreed timescales.
Make decisions based on knowledge and experience.
To provide training to business areas on procedures and practices necessary to achieve compliance.
To provide compliance support and expertise to other business units within GM when required to do so (e.g. deputise during absence of other Compliance staff).
To liaise with other Compliance areas of the firm, auditors and infrastructure departments in relation to compliance matters in the Americas and global jurisdictions as needed.
Management of Risk
To learn and put into effect the requirements of the Legal and Compliance Functional Instruction Manual (FIM)
Work within the Operational Risk parameters of Global Markets Compliance
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.
Understand, keep up to date and ensure compliance with all relevant internal and external rules, regulations and procedures that apply to the Global Markets business
Understanding of advanced Compliance risk frameworks in major financial services firms
Candidate would need excellent interpersonal, communication and influencing skills and confidence to deal with senior and executive level staff to defend guidance, sell the benefits of Compliance risk management and challenge their operating environment.
Working across all levels of the organisation to understand cross-functional linkages and interdependencies, as well as the implications of Compliance risk at both a strategic level and at the business unit level
Demonstrate Sales and Trading advisory compliance experience in FICC, Futures and Equity products and product lines
Ability to form effective relationships and achieve influence at the most senior level in the organisation
Investigative and regulatory supervisory skills to drive deep-dive reviews of specific business activities and conduct
Ambition to enhance compliance knowledge and skills in a rapidly changing and dynamic markets environment.
Willingness to embrace advisory compliance role challenges
Ability to lead and motivate compliance officers with a reporting line into the role
Good report writing skills.
Undergraduate degree required; advanced degree a plus
Knowledge of jurisdiction rules in relation to sales, trading and distribution, in particular, but not limited to conduct of business rules and regulatory rule and guidance relating to distribution of financial products and instruments.