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Role Purpose :
The role of the Vice President Regulatory Affairs involves following responsibilities:
- Scan for legal and regulatory instruments issued by relevant authorities, including laws, subsidiary legislations, directions, guidelines, codes, practice notes, circulars, and information papers.
- Prepare regulatory instruments received for dissemination e.g., summarising, proposing risk rating, assessment of impact to the Global Businesses, DBS, and Global Functions etc.
- Coordinate feedback to consultation papers that impact the Bank, which entails consolidating, reviewing, and clarifying the feedback as well as proposing amendments to improve quality of the feedback.
- Active management of regulatory relationship; create and maintain regulatory engagement records.
- Overall management of regulatory inspections and oversight on all other regulatory reviews.
- Update relevant Department Instruction Manuals (DIMs) and maintain various listings.
Principal Accountabilities :
Impact on the Business / Function
- To promote and sustain a risk-management culture aligned with Regulatory Compliance.
- To proactively identify significant new or emerging risks, and support in management of their potential impact.
- To track resolution of subsequent risk management actions as appropriate.
- Adopting best practice through collaboration with key stakeholders to enable the highest operational standards.
- Supporting review of periodic or ad-hoc reports or information provided to Compliance and to take necessary actions if required.
Customers / Stakeholders
- Work closely with relevant stakeholders to provide expertise and support on Regulatory Affairs related matters.
- Build strong relationships, adopting a joined-up approach, to execute processes at pace and with minimum conflict.
- Ensure appropriate timely and relevant risk information is provided to Businesses and Functional teams.
Leadership & Teamwork
- A strong team player to collaborate with Compliance colleagues and other stakeholders.
- Share best practice with Compliance colleagues and support a high-performance culture.
- Agree responsibilities within formal and informal network to deliver results. Support and encourage constructive teamwork by demonstrating collaboration.
Operational Effectiveness & Control
- Maintain and observe all HSBC control standards, implement, and observe the Group FIM, Compliance policy and procedures. Consistently apply policy and governance frameworks, procedures, practices and standards.
- Support continuing implementation and improvement of processes, capabilities and infrastructure needed to effectively manage RC risks in a changing environment.
- Maintain awareness of operational risk associated with role and responsibilities and minimize likelihood of recurrence. Resolve identified issues promptly and escalate concerns as appropriate.
Management of Risk
The role holder will continually reassess the Regulatory Compliance risks inherent in country, taking account of changing legal and regulatory requirements, operating procedures and practices, economic or market conditions, and the impact of new technology. This will be achieved by assessing impact of all actions on Compliance risk and by addressing any areas of concern in conjunction with line management and/or the appropriate department
Observance of Internal Controls
The jobholder will adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant policies and procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. The jobholder will implement the Group Compliance policy by containing compliance risk in liaison with the relevant Compliance Department. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. This will be achieved by adhering to all relevant processes/procedures and by liaising with 1LOD (First Line of Defence) and 2LOD (Second Line of Defence) stakeholders about new business initiatives at the earliest opportunity.
