Directs and oversees the Global Sanctions Reporting, Training, and Communications for HSBC North America (HNAH). Provides overall leadership regarding all OFAC and Global Sanctions Training. Provides all internal and external reporting for Global Sanctions.
Impact on the Business
Manages complex and sensitive reports involving OFAC and Global Sanctions.
Develops and maintains all training materials for OFAC and Global Sanctions training. Maintains records of all training provided and oversees the scheduling of all training.
Collects information related to 602 requests from various OFAC staff. Completes all reporting requirements and meet designated timelines.
Reviews, evaluates, and implements new and innovative techniques and tools which will provide greater certainty in Compliance’s ability to communicate OFAC or Global Sanctions alerts and handle line of business (LOB) questions.
Reviews LOB procedures as needed to ensure compliance with OFAC and Global Sanctions requirements.
Maintains all OFAC/Global Sanctions Program documentation.
Coordinates reviews of LOB procedures to ensure compliance as needed.
Customers / Stakeholders
Provides communications regarding new economic sanctions (OFAC) updates to LOBs as necessary.
Provides advice and guidance to the OFAC/Global Sanctions Head and Deputy Head regarding HSBC’s Risk Profile and LOB procedures.
Ensures proper reporting of blocked or rejected accounts is reported to the OFAC within specified timelines. Oversees the maintenance of all blocked accounts, ensuring proper collection, control, and retention of required documents, and control over all account activity.
Leadership & Teamwork
Ensures that information regarding potential violations of sanctions is communicated to the OFAC/Global Sanctions Director in an expedited and effective fashion.
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
Demonstrates a comprehensive understanding of OFAC requirements and remains vigilant to changes.
Possesses Sanctions knowledge and understanding of complex OFAC and Global Sanctions Questions.
Is cognizant of changing OFAC and Global Sanctions requirements and updates to various lists.
Fully understands the regulatory requirements for compliance with Federal standards (FFIEC Guidelines) and ensures monitoring procedures comply with those requirements.
Discharges Compliance Officer accountabilities by pro-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
Mitigates significant compliance and reputational risks. Global Sanctions compliance entails a high degree of regulatory compliance and reputational risk, particularly with respect to risks arising out of non-compliance with extensive and complex regulations. Failure to comply with these regulations would have significant negative effects on relations with regulators, the reputation of the Company with the public and may result in regulatory impediments to mergers and acquisitions and significant regulatory sanctions, including regulatory fines of material amounts.
Remains current with changes in regulatory landscape and expectations regarding OFAC and Global Sanctions requirements and risks.
Manages deadlines and compliance requirements. Historical compliance issues in AML place more pressure on this and related functions. The candidate will need to operate effectively under the pressure of deadlines, constant regulatory oversight, and pressure on the level of unit performance.
Role Context
Mitigates significant compliance and reputational risks. Global Sanctions compliance entails a high degree of regulatory compliance and reputational risk, particularly with respect to risks arising out of non-compliance with extensive and complex regulations. Failure to comply with these regulations would have significant negative effects on relations with regulators, the reputation of the Company with the public and may result in regulatory impediments to mergers and acquisitions and significant regulatory sanctions, including regulatory fines of material amounts.
Remains current with changes in regulatory landscape and expectations regarding OFAC and Global Sanctions requirements and risks.
Manages deadlines and compliance requirements. Historical compliance issues in AML place more pressure on this and related functions. The candidate will need to operate effectively under the pressure of deadlines, constant regulatory oversight, and pressure on the level of unit performance.
Management of Risk
Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
Meets all deliverables for QA reviews, analyses, and regular reporting.
Adheres to HNAH’s Statement of Business Principles and Code of Ethics.
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.
Communicates control weaknesses to other group leaders and business management in accordance with issue escalation procedures.
Qualifications
Minimum of eight 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.
Strong managerial, communications, analytical, organizational, project management and planning skills.
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 and pertinent mainframe systems and software packages.
Knowledge and experience with employee training and personnel development methods.
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