VP, Business Financial Crime and Regulatory Risk - HSBC Life

Expiring today

Employer
HSBC
Location
Singapore, Singapore
Salary
Competitive
Posted
24 Nov 2022
Closes
01 Dec 2022
Ref
17887600
Job Function
Insurance
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job description

Some careers have more impact than others.

If you're looking for a career where you can make a real impression, join HSBC and discover how valued you'll be. 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 in Singapore is the combination of AXA Singapore and HSBC Insurance. Here you can specialise 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 in Singapore 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 combined team of high-performing individuals to build skills and explore new experiences to realise the full potential of being part of HSBC.

Together we will pursue efficient ways of working. We will harness the latest data and technology solutions to achieve meaningful outcomes for our clients. And the protection we offer will create 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 VP, Business Financial Crime and Regulatory Risk.

Principal Responsibilities

Business as usual Regulatory Compliance Risk (RCR):

Regulatory Compliance related management information and key risk indicators
  • Review & support Manger in reports for meetings and for submissions to stakeholders, Senior Management on data MI, information,
  • Review, challenge and improve data reporting process for accuracy and completeness
  • Work with all Lines of Business, Insurance Business Services & Distribution Ops teams, etc. to ascertain the oversight of regulations and sales compliance are robust & policies and guidance are adhered to
  • Evaluate the eco-system to establish, benchmark and monitor governance structure and controls of Insurance business and functions
Regulations for Life Insurance, GI, & Direct Life A&H policies related policy changes
  • Advise and coordinate the embedding of policy changes in the Insurance business functions
  • Ascertain coordination and consistent execution across the Insurance business
Conduct Risk
  • Review oversight of Conduct Risks to Senior Management
  • Coordinate with all Lines of Business, Wealth, Marketing, Distribution, Insurance Business Services teams, etc., to ascertain the oversight of Conduct risk are robust & policies and guidance are adhered to
  • Ascertain that measures are developed, implemented and effective across business Operations
  • Advise and establish, benchmark and monitor risk performance indicator for Insurance business and functions
Tax Compliance & Reporting;
  • Review and coordinate the implementation of system and process changes to facilitate Common Reporting Standards (CRS) reporting to the IRAS and CRS remediation activities
  • Coordinate with Lines of Business and Insurance Operations teams to ensure compliance with the annual FATCA and CRS reporting obligations
  • Coordinate with Group/ASP Tax and Insurance Operations to ensure compliance with foreign tax jurisdiction such as UK chargeable event reporting obligations
  • Support Insurance operations teams on BAU tax compliance matters
Regulatory and Conduct Risk

The Insurance FCR Management
  • Review the MI data extraction, management and reporting FCR Forums and Committees
  • Support the review and accurate information flow for monitoring, trigger events and investigation on FCR
  • Support and advise on Insurance Financial Crime agenda through all applicable internal meetings
Monitor visits, recommendations and remedial action plans
  • Review & support Manger to furnish Senior Management with data MI, information, test & challenge accuracy and completeness appropriately
  • Review & assess the applicable remedial action plans. Facilitate & maintain oversight of other plans
Sanctions, AML and AB&C related policy changes
  • Advise and coordinate the embedding of policy changes in the Insurance business functions
  • Ascertain coordination and consistent execution across the Insurance business
Financial Crime related management information and key risk indicators
  • Review & support Manger in reports for meetings and for submissions to stakeholders, Senior Management on data MI, information,
  • Review, challenge and improve data reporting process for accuracy and completeness
  • Work with all Lines of Business, Insurance Business Services & High Net Worth Ops teams, etc. to ascertain the oversight of Financial Crime Services are robust & policies and guidance are adhered to
  • Monitor the measures are developed, implemented and effective across business / function Operations
  • Evaluate the eco-system to establish, benchmark and monitor governance structure and controls of Insurance business and functions
Financial Crime Operations
  • Review and support Regulatory/FCR related materials and communicate update to business and functions
  • Provide content to FCR reports and MI for reporting to local and Group Insurance and FCR team
  • Review FCR operations monitoring to evaluate the effectiveness of tracking and escalation
  • Prepare FCR registers to ensure they are accurate, complete and up to date
  • Review and test FCR controls design and effectiveness
  • Analyse and evaluate FCC data to support exit management
  • Assist VP and cover for AVP of Business Financial Crime and Regulatory Risk (BFCRR)
Requirements

Requirements
  • Educated to degree level in Accountancy, Finance, Business Administration, Technology or related field
  • Track record of operational excellence and change execution
  • Proven ability to manage data extraction, MI analytics, investigate issues and solve compliance anomaly
  • Experience of working in a complex financial services organisation
  • Experience of managing Audit or Internal Control teams
  • Demonstrable insurance business knowledge
  • Able to plan, track and control operational activities
  • Understanding of HSBC strategy, organisation, systems and processes
  • Knowledge of the external environment - regulatory, political, competitors etc.
  • Drive and motivation to ensure delivery in a challenging environment
  • Track record of positive interactions across the business and functions
  • Proven ability to articulate issues concisely in the language of the business
  • Relationship management, collaboration and influencing skills
  • Ability to communicate effectively and confidently across cultures in the organisation
  • Demonstrated to manage a team or peers and is able to work well with other business and functional team members and line managers
  • Proven behaviour to do the right thing, take accountability personally, demonstrating good time management & commitment to the assigned deliverables
  • Minimum of five to ten years proven and progressive risk and control analysis and planning and project management experience within a Risk Management and project management function or equivalent, including a minimum of seven years proven management experience or equivalent
To be considered for this role, the relevant rights to work in Singapore is required.

You'll achieve more when you join HSBC.
www.hsbc.com/careers

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by The Hongkong and Shanghai Banking Corporation Limited.
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