Vp, Compliance Advisory Wpb

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Regulatory Compliance ensures adherence to applicable regulations and standards by setting the policies which cover HSBC’s regulatory requirements, and mitigate conduct and reputational risk issues. The team strives to remain ahead of the regulatory change agenda and ensures the business understands the implications and is prepared for change. It monitors how the Global Businesses and Functions manage their responsibilities with regard to complying with the regulations and helps resolve compliance deficiencies.

We are currently seeking a high calibre professional to join our team as a **VP, Compliance Advisory WPB.**

**Principal Responsibilities**
- Strong partnership with the Retail Banking/Credit Business team, Local Compliance teams and Regional Compliance teams, as well as Risk teams, acting in concert with them to drive the implementation of new regulations, taking into account internal group policies
- Provide sound regulatory and policy advice related to Retail Banking/Credit products, services and business initiatives, to support the Business growth and initiatives
- Investigation, assess and escalate of potential regulatory breaches and issues to Head of Compliance Advisory WPB Retail Banking and/or Head for Compliance Advisory WPB
- Manage and lead the required remedial action of all material regulatory compliance related issues involving Singapore. Exercise risk stewardship over regulatory compliance risks of the Business, by challenging the Business on their assessment of such risks, taking into account business activities, regulatory requirements, internal and external events, and the sufficiency of proposed controls to mitigate such risks
- Lead / liaise with relevant stakeholders within Singapore/Regional Compliance WPB and WPB Retail Business to provide WPB Regulatory Compliance expertise on all compliance matters
- Interact with regulators and industry bodies on WPB Regulatory Compliance related matters
- Ensure the appropriate timely and relevant regulatory compliance risk information is provided to Head of Compliance WPB Retail Banking, local WPB management and the various risk forums
- Strong communication and working relationship within Singapore and Regional Compliance team, Singapore WPB, Regional WPB, other Risk Disciplines, Functions and Global Businesses
- Foster and develop positive and professional working relationships with senior business managers at the Group, Regional and Country levels
- Resolve any/all identified issues promptly, and escalate concerns to SGH Head of Compliance WPB Retail Banking and other managers as appropriate to ensure timely awareness of any material concerns
- Maintain and observe all HSBC control standards and implement and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators
- Maintain awareness of operational risk within assigned portfolio and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting

Requirements

**Requirements**:

- A degree holder with extensive work experience in the area of Regulatory Compliance, in particular in the Retail Banking space, in order to be able to exercise sound judgement in implementing various Regulatory Compliance requirements
- Should have knowledge and understanding of regulatory requirements and expectations under the Banking Act and associated notices, guidelines, circulars, information papers, with regard to retail banking/credit business and branch operations related requirements. Should have good understanding of retail banking/credit products
- It will be advantageous if incumbent is also conversant with financial crime risk as well as the regulations that govern this risk in the space of AML/CFT, Sanctions, fraud risk and Anti Bribery and corruption
- Able to investigate and escalate incidents, assess regulatory impact and prepare reports to the regulator as necessary
- Strong awareness of risk and conduct issues, to be able to advocate and challenge the Business on their assessment of such matters and the sufficiency of proposed controls
- Familiarity of with risks and issues concerning cross border business
- In addition, it would be an advantageous to have knowledge of/ experience in Securities and Futures Act, Financial Advisers Act, AML/CFT requirements, fraud risk, communications with MAS.
- Excellent communication and inter-personal skills, with experience of dealing with executives at all levels including the capacity to articulate the case for regulatory best practices,