Senior Vice President - Compliance Sanctions

Role : Senior Vice President - Compliance Sanctions

Qualification : CS

Location : Mumbai

Experience : 10 to 12

Job Description :

Key strategic risk management leadership role providing oversight and management, of all aspects of Financial Crime Risk Sanctions including impact analysis of regulatory changes within India.Accountable for the collation of potential breaches of sanctions from India, review of the reporting made and appropriate escalation to the Regional/Global Head of Sanctions.Act as principal point of contact for internal and external stakeholders in relation to Sanctions risk (including regulators) within India. Critical forward looking leadership role requiring strong partnership with business to drive and accelerate the execution of Financial Crime Compliance Sanctions programmes within Indiathat directly impact business performance. Stay at the forefront of key regulatory changes to ensure proactive communication with business and implement appropriate policy and framework to manage the changes.Participate in and work with relevant local India industry bodies and groups in relation to Sanctions related initiatives, trends and proposals.Provide advice to business across India and countries on risk associated with prospective business, products and service and design mitigation controls and implement strategies as appropriate.Intersecting with and representing FC risk with senior business leadershipPrincipal Accountabilities: Key activities and decision making areasImpact on the Business / FunctionImplement and drive Group communications strategy, for standards, systems and policies in relation to Sanctions India-wide.Identify, assess, oversee and communicate all requirements relating to legal guidance and sanctions evasion trends in relation to risks presented through HSBC's business activities across India. Support and facilitate a strategic coordination and implementation of an effective Sanctions controls framework within India.Ensure that the Group's India exposure to regulatory and reputational risks is managed, in a commercially sensitive, practical and cost-effective manner.Discharge the relevant accountabilities as set out in the Group FC standard framework.Manage and lead the required remedial action of all material FC sanctions issues involving the India that arise to ensure effective implementation through internal and external reviews. Develop and deliver training on Sanction risks for all business products, services across India.Leadership to drive, develop and implement programmes to quantify impacts and implement actions to address, manage and mitigate impacts of sanctions risk embedded in client activity.Advising and tracking on advances in screening technology, working with software delivery to maximise the effectiveness of HSBCs screening utilities.In conjunction with Legal, identifying the need for and preparing licencing request.Implement and drive global standards within India / countries and strategic policies which ensure FC Sanctions exposure to current risks and emerging arising risk is managed appropriately, in a commercially focused and practical mannerImplement, as required, Group sanctions policies and systems within India that ensure that business exposure to financial crime and reputational risks is managed, in a practical and effective manner, including efficient and reasonable deployment of resources and an understanding of the business operations and needsTypical Targets and MeasuresApplicable standards, policies and procedures developed and implemented.Ensure that standards, policies and procedures meet regulatory needs and are clearly understood by stakeholders. Track the strategic implementation of an effective Sanctions controls framework.Periodic reviews and ongoing monitoring activity adopted consistent with agreed plans and timescales. Consult with relevant business heads to drive and develop strategy/policy.Competently apply legislation to the risks associated to the business in terms of products/service in India in accordance to Global process documentClear, accurate and timely advice provided.Adverse consequences arising from FC Sanctions breaches/issues are managed, mitigated and reported, with remedial action initiated in line with the materiality of the risk/issue.Monthly reviews and ongoing monitoring activity to ensure satisfactory completion of requirements.Communication of clear training requirements.Regular reviews and ongoing monitoring activity to ensure completion of required training.Controls are established to ensure policies are being complied with. Adverse consequences arising from financial crime and reputational breaches/issues are properly managed, mitigated and reported, with remedial action initiated in line with the materiality of the risk/issue. Making recommendations to increase risk alerts while reducing riskCustomers / StakeholdersLead / liaison with relevant stakeholder within Global Business and Functional teams within the India to provide expertise and support on all Financial Crime Sanctions related matters Use expertise and experience to drive the direction of any functional/geographic reports or the FC Sanctions function, as appropriate.Ensure that the Head FC India and Regional Head of Sanctions are appropriately advised of material Sanctions issues. Work effectively local regulators and industry bodies on FC Sanctions matters.Ensure that the Group's interests are externally represented and professional and positive relationships are fostered at an India level. Leadership of resources, people, process and change management to support a customer focus business operations.Typical Targets and MeasuresAdvanced knowledge of products, segments and business strategy to support business growth accordingly.Clear direction/advice/guidance given in a timely manner.Provide content to regular committee reports within agreed timescales. Provide reports to senior management on significant issues in a concise and timely manner. Update/report to regulator/s as appropriate on change/new initiatives within the Group or as required by relevant rules and regulations. Support the Head FC India and Regional Head of Sanctions in their meetings with principal regulators. Efficient coordination of regulatory related request and ensure proper communicationAd hoc reports to senior management on significant financial crime and reputational issues are provided as they occur, within agreed timescales.Leadership & Teamwork Develop, set and deliver the strategy for the FC Sanctions function into India.Work effectively with Regional Head of Sanctions and other FC heads to ensure consistency across the FC functions. Maintain and develop positive and professional working relationships with senior business managers at the Country/ Business line levels.Foster positive and professional working relationships within FC and other senior managers throughout the Group.Support Head FCC in developing, setting and delivering the Group Sanctions overall strategy in the India.Typical Targets and MeasuresStrategies and policies to be developed and communicated clearly and in a timely manner.Maintain contact and consult with other FC Heads.Update Head FC India and Regional Head of Sanctions re succession planning and career management for the team at least annually.Contact maintained with key business heads both in FC and in the India / Global Businesses to update them on compliance developments, when appropriate.Close working relationship maintained with the Regional Head of Sanctions and Head FC - India.Strategies and policies to be developed and communicated clearly and in a timely manner, in conjunction with other FC heads. Close working relations maintained with direct and functional reports by 1:1s, team meetings, visits, telephone calls, written reports and alerts.Demonstration of Group Values in all behaviors.Headcount and cost plans within AOP.Operational Effectiveness & Control Provide India solutions to complex global issues/initiatives in an ever changing, high-risk environment. Approve the schedule for, and oversee, the monitoring of the implementation of FC Sanctions controls.Maintain awareness of operational risk within assigned portfolio and minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting. Maintain and observe all HSBC control standards and implement, cascade and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulatorsTypical Targets and MeasuresClear risk-based policies/advice produced. Compliance plans in place across the FC function to agreed timescales. Schedule of assurance reviews agreed with Regional/Global Head of Compliance Assurance and delivered to agreed timescales, with necessary change implemented. Review below standard audit reports, compliance reviews and reports and take the appropriate action regarding any significant compliance or reputational exceptionsAny significant Sanctions compliance issues reported appropriately and in a timely manner. Participation in India / Regional Sanctions executive committees.Major ChallengesTo take the complexity of the regulations on the one hand, and the diversity of business and geographies within India and achieve a balance between the demands of the regulators, external bodies and governmental initiatives and the Group's shareholders and customers; being alive to the political, management, operational, regulatory and reputational implications of particular decisions and courses of action; assisting senior management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks.The incumbent is required to ensure the consistent application of the highest Risk management standards notwithstanding the complexities of products and business operations across India. Risk is forward looking. The incumbent would implement change programmes India-wide to ensure that the FC Sanctions remains in line with regulatory requirements across India. A balance must be maintained between the local, Regional and global priorities. The incumbent would need to balance between sometimes conflicting needs and priorities of different teams within Risk departments and across countries.India is an emerging economy and a strategic priority for the Group. It is a developing regulatory jurisdiction, which is regulated by multiple regulators. While the regulations are voluminous and complex; sometimes prescriptive; sometimes ambiguous and sometimes archaic, the operating environment on the other hand is dynamic, demanding and diverse with multiple stakeholders.The economic and business environment contributes to the growing compliance risk profile of the Global businesses. Competition from peer foreign banks has increased with the setting up of branches by several foreign banks; local private banks also service the same customer segment and their increasing footprint puts pressure on business. Knowledge of products and importantly, practices of competition is an absolute necessity.Various areas within the Bank requires continuous Compliance focus with regard to compliance to financial crime and this role would play a pivotal role in discharging the responsibilities assigned.Role ContextThe jobholder is required to work with considerable autonomy, dealing with major issues and provide judgement and clear direction as a solution.. Where items of major consequence are involved, reference is made to the Regional/Group Head of Group Sanctions. The nature of the role requires close working contact with senior executives in FC and across the Group, but particularly the FC Heads. Requirements Seasoned professional with experience in one or more senior risk compliance roles, ideally to include Sanctions experience.Extensive knowledge of Sanctions regulations and guidance.At least 10 years of banking experience, preferably with at least 3 years of experience in the areas of Sanctions.Extensive knowledge of the HSBC Group structure, its business and personnel, and a deep understanding of HSBC's corporate culture. Significant experience in the financial services industry. Lateral thinker with an ability to interpret and solve complex issues.Excellent communicator with strong inter-personal and influencing skills.Experience in developing an assurance model.Experience in leading assurance work in a complementary discipline e.g. Audit would be an advantage.Ability to lead change, contributing to joining up with the other teams in Risk and Business globallyExperience of dealing with regulatory matters and confident interaction with Regulators.Ability to develop practical, cost effective solutions to complex global issues.Minimum Graduation or as required for the role, whichever is higher.Additional InformationMandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.Useful LinkLink to Careers Site: ClickHEREYou'll achieve more at HSBC.HSBC is committed to building a culture where all employees are valued, respected and opinions count. 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