Assistant Vice President (AVP) - Risk Assessment - GSC KL – Market Operations Chief Control Office
Business: Markets & Securities Services Open positions: 1 Role Title: Assistant Vice President (AVP) - Risk Assessment - GSC KL - Market Operations Chief Control Office Global Career Band: 5 Location (Country / City): Malaysia Recruiter Name: Norhidayah ABD RAZAK Why join us?
Chief Control Office (CCO) is an internal risk and control management function primarily responsible for ensuring that risks in Markets Operations are being managed within risk appetite. It is a global, and cross asset-class, function that works closely with Global and Line Operations management in ensuring that our key controls are adequate in mitigating our material risks. The function is broadly responsible for evaluating risks, monitoring, reviewing, and testing both the design and operation of key controls, driving consistency of the internal control framework across locations where there is a Global Markets Operations (GMO) presence, ensuring adherence to risk & control policies, reinforcing control culture and directing control awareness activities, and ensuring that Operations management are accountable for their risks and taking action on a timely basis to remediate.
This is a position which reports into the Operational Hubs Head of Risk Assessment of CCO for Markets Operations.
The Risk Assessment (RA) function is a subset of Markets Operations CCO and is required to manage the effective performance of the Risk Assurance reviews for Markets Operations that forms part of the overall Operational Risk mandate. The AVP for CCO RA will be required to ensure that these are implemented regionally in Operational Hubs or locations for which they will have accountability for.
The RA Agenda will include, but is not limited to:
- Administering a robust Risk Assurance plan (e.g. mandatory reviews, thematic reviews, migration reviews) from Operational Hubs perspective based on the magnitude of process migrated.
- Execution of the said plan for processes in the Operational Hub (or Trading Hub in scope locations).
- Performing risk assessments on control gaps identified from walkthrough and testing performed and ensuring global adherence and consistency
- Management of issues through various stakeholders deliberation and discussion
- Producing all the required deliverables and reports from reviews performed
- Establishing a culture of risk awareness
- Participate in any emerging risk reviews identified as well as migration reviews.
The effective performance of the Control Monitoring ensures that key controls are captured and monitored appropriately, in accordance with the signed off plan. The function also requires collaboration of CCO GMO function that also extends in Manila and Bangalore.
The Opportunity: Impact on the Business/Function
- CCO Structure / Organisation - driving the strategic planning on a Regional basis, ensuring it adheres to the Global Operating Model as well as delivers success regionally. A key measure of success in the role will be to fully implement the standardised OM and signed off Control Monitoring Plan that meets the diverse needs of an extensive stakeholder base.
- Control Framework - timely and appropriate identification of control gaps arising from reviews conducted. Being seen as a true partner by Operations Management in supporting them in managing their risks and issues, yet at the same time delivering CCO global strategy and framework. Ensuring that the control framework is fully embedded and operating to maximum effectiveness, utilising standard review methodology propagated globally.
- Control Culture - The role requires the incumbent to partner with Operational Hub (and at times Trading Hub) operations managers on the one hand and also to hold them accountable for the processes that they own, driving a culture of risk awareness and adherence on the other. By fully embedding the control framework, developing stakeholder engagement and raising the profile of CCO regionally the incumbent will need to significantly drive a positive control culture. To do this the existing training and development agenda will need to be enhanced and delivered, as will the sharing of best practice and standards through appropriate forums. Managerial accountability must be improved as a primary goal as well as general staff knowledge and practice.
Customers / Stakeholders
- Maintain HSBC Internal Control Standards including timely escalation and remediation of risk and control issues
- Execute the Global Markets CCO Control Monitoring Plan
- Partnering with Operations Management to reduce operational losses, incidence of high/medium risk issues from all sources, and repeating escalation issues
- Work to the agreed Global CCO agenda and meet all delivery requirements
Leadership & Teamwork
- Global CCO Heads (London)
- Regional CCO Heads (Hubs)
- Risk Assessment CCO team
- Operations Team (primarily Operational Hub but may be extended to trading Hub)
- Ongoing dialogue / meetings with stakeholders and delivery of required outputs
- Liaise regularly, encourage issues to be raised, and ensure all necessary actions are taken
Operational Effectiveness & Control
- Ability to positively influence and effectively communicate with stakeholders across the business
- Ability to multi task, manage disparate stakeholders, build consensus, and implement effective business solutions
- Actively promotes a positive control culture across the organisation
- A committed team player, committed to coaching individuals within the team and supporting them to achieve their own personal development plans
- Project management experience with the ability to lead working groups and project teams
- Ongoing dialogue / meetings with stakeholders and delivery of required outputs. Positive promotion of the function, influencing and obtaining buy-in on CCO initiatives
- Ongoing formal and informal dialogue / meetings with team members, cascading key information on direction and requirements, active participation in performance reviews and setting development plans to address skills and / or competency gaps.
What you'll do: Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities)
- Ensure all Operations policy is adhered to
- Drive a more proactive risk management framework through enhanced reporting and analytics
- Drive a management by metrics mindset in operations from a risk perspective
- Partnering with Operations Management to reduce operational losses, ensure management awareness of key risks and issues, and to reduce the repeat high risk audit issues
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
- Product and process understanding, steep learning curve required.
- Manage stakeholder expectations and ensure that robust communication and escalation mechanisms are in place.
- Influencing other functions e.g. asset class teams; Regional CCO to assist you when completing analysis, reporting production, Control Monitoring testing
- Building a relationship with your client base that inspires confidence in HSBC as an organisation and engenders trust, support and loyalty from your stakeholders
- Understanding HSBC products and operational processes to ensure effective communication
Management of Risk (Operational Risk / FIM requirements)
- This individual will be expected to execute CCO monitoring and testing, and influence key stakeholders within their asset class.
- Role requires a strong self-starter with good time-management skills who enjoys the challenge of delivery within tight deadlines.
- Structured and organized individual with ability to manage multiple priorities.
- Ability to implement strategy and effectively communicate it to senior stakeholders
The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
Also by addressing any areas of concern in conjunction with line management and/or the appropriate department. Observation of Internal Controls (Compliance Policy / FIM requirements)
The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant 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 Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. 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 Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators. Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget)
This is a regional role, however the influence and output is Global with a wide global audience across Operations Qualifications What you will need to succeed in the role: Knowledge
- A degree in banking / financial / management / business administration / accounting exposure
- A working knowledge of Global Markets processes and trade lifecycle would be advantageous
- Risk professional with at least 10 years' combined experience in Banking Operations/Back Office Operations, Global Markets business (FX, Fixed Income and Equities), Operational Risk, Compliance or External/Internal Audit in a banking environment
Link to Candidate User Guide:
- Subject matter expert in Operational risk and control
- Analytical mind with Excellent judgment and decision making skills to identify exceptions in process handling.
- Detailed knowledge of Markets Operations and the product specific trade lifecycle.
- Ability to drive out details and question procedures employed to deliver quality services.
- Understanding of the key control points and risk inherent in the trade lifecycle
- Organised, adaptable and self-driven to achieve collective information both formally and informally from Subject Matter Experts.
- Excellent relationship builder with strong communication and negotiation skills
- Ability to work to tight deadlines and exacting standards.
- Ability to present information and recommendations to senior stakeholders
- Leadership skills with ability to build rapport with and relate to and effectively develop a wide range of people