Director - Regulatory Compliance - HSBC - New York

Job description
Directs the assigned compliance function for the business lines which comprise the Global Private Bank (GPB) business in the US, including Private Bank US, Custody, Trust and Investment Management and HTCD. Responsible for providing compliance advice and guidance to the Private Bank's fiduciary businesses such that key risks are identified and managed appropriately. Responsible for the key second line of defense, partnering with the first line of defense to ensure compliance is a core component of the US culture and embedded into how US GPB conducts business.

Provides guidance and direction to the regulatory compliance teams and serves as a key point of contact for matters which need escalation. Ensures that linkages with key US compliance functions remain strong such that services offered to assigned business lines are efficient, effective, and seamless. Advises senior business, Head of GPB Compliance, US Compliance and GPB management of issues as necessary. Manages relationships with all GPB regulators in the US and maintains appropriate respectful relationships with internal audit and other internal stakeholders

Impact on the Business
Promotes adherence to laws, regulations, rules and standards relevant to the company for assigned business lines. Ensures effective decision making on all compliance matters in areas of responsibility.
Provides timely advice to PB management and staff on compliance impact associated with changes in regulations, new products, and services, and/or changes in business strategy. In these instances, assists senior management in identifying, managing, and mitigating compliance risk.
Ensures vendor oversight is in place and operating effectively for assigned businesses. Provides compliance expertise in reviewing vendor services throughout the life cycle of the vendor relationship, and escalates significant compliance concerns as appropriate.
Oversees compliance risk assessment framework as applicable to assigned business lines as well as any associated remediation. Partners with senior management to ensure monitoring and reporting processes are in place on the effectiveness of the first and second lines of defense against compliance risk in assigned business lines. Advises business management and BRCMs to ensure that appropriate compliance programs, policies, procedures, and other controls are in place and operating effectively and satisfy supervisory obligations.
Provides strong oversight over all regulatory and compliance matters and internal controls.
Manages investigation of any potential breaches of regulations, rules, and standards and determine and monitor any corrective action plans including remediation, tracking, escalation, and reporting as appropriate.

Customers / Stakeholders
Serves on key governance committees including; PB Trust and Investment Management Risk Committee, HBUS Fiduciary Risk Management Committee, PB Product Oversight Committee, and the PB Compliance Committee.
Engages with regulators, as appropriate, on compliance matters in assigned business lines. Responds to all regulatory inquiries.
Serves as liaison for assigned businesses to foster good working relationships with internal audit and regulatory agencies affecting assigned businesses. Facilitates or responds to information requests and meetings, participates in exit interviews and coordinates management responses to examination findings.
Participates in compliance reporting for assigned businesses to senior management, Group, and the Board of Directors, as appropriate, in accordance with required timelines.
Leadership & Teamwork
Provides management direction to foster effective selection, development, and reward of subordinates while contributing to initiatives in support of the Company’s Diversity programs.
Ensures adherence to completion of any required compliance and risk-related training courses for team.
Ensures employees understand that they are critical in fostering an ethical and compliant environment.
Manages, and motivates the GPB General Compliance team ensuring timely conformity to all HSBC US processes for performance management and personal development.
Promotes an environment that supports diversity and reflects the HSBC brand.
Provides functional management and leadership of the GPB Compliance team to ensure they are meeting the requirements of the Compliance Risk Management Program Manual and other Group policies.
Partners with FCC on AML, Sanctions, applicable Regs as needed to advise and ensure the needs of the business are addressed.
Partners with Compliance Training, and Professional Development on training and outreach efforts of assigned business lines on compliance matters. Ensures all training initiatives align with compliance strategy and address the associated needs of the business lines. Conducts business unit training needs assessments and participates in development of compliance training content for business unit personnel ensuring that participants are familiar with policies and procedures.
Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
Assists senior executives in identifying and containing compliance risk, compliance monitoring, and fostering a compliance culture.
Completes other responsibilities, as assigned.
Manages the implementation of all relevant Compliance policies in assigned businesses.
Assists business management in identifying and managing compliance risk, ensuring compliance is a core component of the GBP US culture, and remediation of issues as appropriate.
Escalates any significant compliance issues and trends to Business Unit Senior Management, HNAH Compliance management and Group Compliance. Maintains awareness of major regulatory changes affecting assigned business lines. Ensures appropriate communication and development of appropriate policy/procedure changes to ensure compliance.
Discharges Compliance Officer accountabilities by actively assisting management in identifying and containing compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators.
To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
Complete other responsibilities, as assigned.
Major Challenges
Keeps pace of change as the HNAH compliance function re-invents itself.
Keeps focus on the key priorities to achieve delivery within agreed timeframes.
Services a global banking business at a time of heightened public and regulatory focus.
Balances the increasing demands placed upon the business by the introduction of new or revised regulatory requirements with the need to work with and
facilitate senior line management's objective in achieving a pragmatic, constructive and business supportive response to this challenge
Helps to ensure future business growth is attained in a responsible and conscientious fashion while the operation remains regulatory compliant and commercially sound.
Equally shares ownership with business leadership teams in the ongoing advancement of a positive compliance culture through
cultural transformation

Role Context
Manages assigned specialized compliance functions for PB’s Fiduciary Activities
Serves as a trusted business partner and advisor to Senior Management ensuring all regulatory/changes are followed

Desired Skills and Experience
Minimum of 10 years proven and progressive financial services operations, compliance, and/or legal management experience or equivalent.
Minimum of a Bachelor’s degree in business, related field or equivalent experience; Master’s degree or Juris Doctorate (JD) preferred.
Strong managerial, communications, analytical, organizational, project management, and planning skills.
Strong knowledge of assigned businesses, products, operations, systems and organization and full understanding of all significant regulatory compliance requirements applicable to the business. Proven ability to accomplish high-level objectives in the context of annual business and compliance plans.
Proficiency with personal computers, pertinent mainframe systems, and software packages.

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