Head of Compliance, Hsbc Life Singapore

1 week ago

Singapore HSBC Full time

**Some careers grow faster than others.**

If you’re looking for a career that will give you plenty of opportunities to develop, join HSBC and your future will be rich with potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC Life is a world-class institution where you can specialize in Insurance but enjoy the advantages that come with being part of a leading global international bank. Insurance is about people, and the promises they make. At HSBC Life we help deliver on these promises by providing a wide variety of life insurance products and services to our clients throughout the Asia-Pacific region.

Our employees enjoy a dynamic and innovative workplace and a world of opportunities to develop their careers in a high-profile growing business segment. We empower our team of high-performing individuals to build skills and explore new experiences to realize the full potential of being part of HSBC.

Together we pursue efficient ways of working. We harness the latest data and technology solutions to achieve meaningful outcomes for our clients. The protection we offer creates broad and lasting impact, helping clients to be healthier, more productive and more confident in their futures.

We are currently seeking a high calibre professional to join our team as a **Head of Compliance, HSBC Life Singapore**.

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 Regulatory and Financial Crime Compliance 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 Head of Compliance, HSBC Life Singapore is the senior accountable executive responsible for ensuring that HSBC’s operations in Singapore covering both the manufacturing and distribution aspects of HSBC Life are effective in identifying, managing and mitigating Regulatory Compliance, Financial Crime and Fraud risks.

The responsibilities of the role holder are to:

- To act as the responsible executive in relation to Regulatory Compliance, Financial Crime and Fraud risks.
- Articulate the Regulatory Compliance, Financial Crime and Fraud risks for HSBC Life Singapore
- Provide advisory services to HSBC Life Singapore in order to ensure clear understanding of compliance risk exposure with respect to clients, transactions and products.
- Manage the relationship with relevant regulators on behalf of HSBC Life Singapore
- Be responsible for second line governance of Regulatory Compliance, Financial Crime and Fraud risks exposures, providing analysis, reporting and governance to HSBC Life Singapore that is independent of the first line of defence, thereby maintaining an objective assessment of risk exposure
- Assist the senior management of HSBC Life Singapore, the leadership of the Compliance function, and other colleagues on all material compliance related matters
- Represents the Compliance agenda up to the highest levels of the Group’s governance, including being an attendee (as required) at Board level (and related sub-committees) to report on progress and issues in relation to the operational effectiveness of HSBC’s policies, processes, systems and controls in countering Regulatory Compliance, Financial Crime and Fraud risks
- Lead the HSBC Life Singapore Compliance team, establishing guiding principles and strategic operational objectives, owning budgeting and managing costs, headcount and resources to ensure that the teams are fit for purpose and that the delivery of its critical services to the Group is both effective and cost-efficient
- Act as the go to person for Compliance function for local compliance related matters, support and advice as required on all aspects of HSBC’s insurance operations in Singapore

**Principal Accountabilities**:
The following principal accountabilities are aligned to the Compliance Services and Processes Model. Additional detail is available in the Model.

**Impact on the Business**
- Oversee the critical Compliance policies and systems that impact HSBC Life Singapore and ensure that the Group’s exposure to Regulatory Compliance, Financial Crime and Fraud risks is managed in a commercially sensitive, practical and cost effective manner
- Provide advice and support on Regulatory Compliance, Financial Crime and Fraud risks to senior management, Compliance and other colleagues

**Customer / Stakeholders**
- Reporting to the Singapore Chief Compliance Officer as relev

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