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As part of the Global Risk and Compliance function, Regulatory Compliance facilitates 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. They also assist to manage and maintain positive and constructive regulatory relationships in an open, cooperative and timely manner.
We are currently seeking an ambitious individual to join our Regional Regulatory Affairs Team within Regulatory Compliance, working together with colleagues and stakeholders to manage the regulatory requirements and relationship with regulators.
Role Overview:The Regulatory Compliance (RC) function is a Second line of defence (2nd LoD) function, responsible for reviewing and challenging the activities of the Group’s businesses and functions (also referred to as “the 1st LOD”) to ensure that they effectively manage as “Risk Owners” the risks inherent in or arising from the conduct of their activities and for which they are responsible. The 2nd LOD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LOD.
The RC function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group’s Enterprise Risk Management Framework (ERMF). Regulatory Affairs is a sub-function of RC and is focused on providing an enterprise-wide service to other risk areas of the bank. Regulatory Affairs roles aim to ensure that there are “no surprises” in relation to dealings with regulators or regulatory developments affecting the Bank.
The Manager Regional Regulatory Affairs MENAT position is a risk management role that has a broad remit and responsibilities, which include and are not limited to:• Regulatory Engagement: delivering proactive and more consistent management and oversight of regulator relationships regionally and in country.• Regulatory Development: identification, dissemination and oversight of upcoming and in train material regulatory compliance developments, supporting the Region to address regulatory change.
The Manager Regional Regulatory Affairs MENAT will report to the Regional Head of Regulatory Affairs and will work very closely with the Regional Senior Manager MENAT Regulatory Affairs.
Duties & Responsibilities:Regulatory Engagement:• Act as an SME in respect of the Regional Compliance supported regulatory engagement, ensuring that the Region maintains full oversight of all relevant engagement with the Region’s regulators. “Regulatory Engagement” for these purposes includes meetings, visits, reviews, thematic work, investigations, enforcement activities, reporting, information provision, correspondence and similar and whether of a regular, recurring or ad hoc nature. • Support management of the relationship and engagement with the Region’s Regulators (Primarily DFSA. However, will also be required to support Central Bank of the UAE, Securities and Commodities Authority, Financial Services Regulatory Authority and other UAE regulators as and when required) on all matters relevant to the bank.• Support the team to ensure that the respective Regulators’ agendas and requirements are understood, communicated and met, with the intention of there being “no surprises” in the Region’s engagement.• Support relevant senior management in material engagement with the Region’s Regulators; including preparation of Briefing Notes and attendance at meetings as and when required.• Support senior managers to prepare for engagement with Regulators, working with relevant RC colleagues, Global Businesses, Global Functions and HOST, as required. • Monitor regulatory engagement trends for regulators and provide updates, reporting and guidance as appropriate / required. • Supports HSBC strategy in line with designated responsibilities.Regulatory Development:• Support and assist in the Response to Regulatory Change process undertaking all relevant tasks as relevant to Regulatory Affairs.• Support delivery of the strategic direction of Regulatory Affairs. • Support maintenance of the portfolio of regulatory development and change themes, to be agreed as the demand requires. Ensure the effective hand-off to the Risk Stewards to enable them to provide 2nd LoD oversight of implementation of regulatory change.• Ensure effective communication of the range of regional themes.• Support consultation responses, and similar work in relation to material regulatory developments.• Ensure production and delivery of appropriate Management Information and reporting is provided to key stakeholders across the region as it relates to the risk of ineffective response to regulatory change.