Head of Financial Crime

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Financial Crime Compliance aligns current activities within Global Risk and helps to build these into a more integrated framework to conduct Customer Due Diligence which enables HSBC to manage financial crime risk more effectively. It builds stronger controls to improve the way Financial Crime Compliance risks are managed in order to spot gaps as well as trends so that the team can take action. It proactively gathers and analyses financial intelligence in a smart way so that suspicious transactions, activities or connections can be identified and we can adequately protect our customers from the threat of financial crime.

We are currently seeking a high calibre professional to join our team as a **Head of Financial Crime**.

The Compliance function is a Second line of defence (LOD) function, responsible for reviewing and challenging the activities of the Group’s businesses (also referred to as “the First LOD”) to ensure that they effectively manage as “Risk Owners” the risks inherent in or arising from the conduct of their activities and for which they are responsible. The Second LOD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LOD. The Compliance function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group’s risk framework.

The SGH Head of Financial Crime is responsible, along with the SGH Head of Regulatory Conduct for supporting the SGH Business Facing Compliance Officers to ensure Singapore manages the Compliance risks that it faces. The role holder is the senior accountable executive focused on and responsible for ensuring that Singapore operations are effective in countering the risk that Singapore might be used or targeted for financial crime activities. The role is a key risk management role with a broad remit and responsibilities including:

- MLRO, supporting the Business Facing Compliance Officers in countering financial crime.
- Working closely with the Business Facing Compliance Officers, set policy and provide effective oversight of the operational effectiveness of critical policies and systems covering financial crime that ensure that the Singapore exposure to financial crime and related reputational risk is managed, in a commercially sensitive, practical and cost effective manner.
- The articulation of Singapore risk appetite and policies with respect to money laundering, sanctions, internal and external fraud, tax evasion, terrorist financing, bribery and corruption.
- Working with the Business Facing Compliance Officers, identifying, analysing, and investigating Financial Crime risk to support informed risk management and effective information sharing with internal and external stakeholders (including government), grounded in advanced analytics and technology.
- Acting as a trusted advisor to the HBAP SGH Board and senior executive stakeholders (including the leadership of the Compliance function) on all material financial crime risk and related reputational issues involving that arise in relation to the operational management of financial crime risk.
- Coordinating a consistent approach to managing positive relationship with its regulators, and, in conjunction with the Business Facing Compliance Officers, ensuring timely reporting and disclosure of relevant information both to our regulators and within the Group in relation to financial crime matters.
- To represent the financial crime risk agenda up to the highest levels of governance, including sitting as a member of the SGH Compliance ExCo and as an attendee at the relevant SGH Board committees to report on progress and issues in relation to the operational effectiveness of HSBC’s policies, processes, systems and controls in countering financial crime.
- To ensure second line governance of financial crime risk exposure, providing analysis, reporting and governance that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure.
- Lead the Financial Crime team, establishing guiding principles and strategic operational objectives, owning budgeting and managing costs, headcount and resources to ensure that the Financial Crime team is fit for purpose and that the team’s delivery of its critical services is both effective and cost-efficient.

This role is a senior executive role, with oversight responsibility for financial crime across SGH, which is a key, business-critical senior position

**Principal Accountabilities: key activities and decision making areas**

The following principal accountabilities are aligned to