Head of Compliance, Insurance - Hang Seng Bank (HK)

Job description

Risk andpliance

The Risk &pliance function is a Second line of defence (LOD) function, responsible for reviewing and challenging the activities of business 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 Head ofpliance, Insurance is the senior accountable executive responsible for ensuring that HSBC's operations in Hang Seng Bank are effective in identifying, managing and mitigating Regulatorypliance (RC) risks and ensure timely advice is provided to the business. The role holder also requires strong partnership with Insurance business and leadership team, interfaces with both Risk andpliance and has responsibility for driving the implementation of policy arising out of changes inpliance.

Principal responsibilities

• Primarily support Head of Regulatorypliance (RC) Wealth and Personal Banking (WPB) to maintain an effective control framework and to ensurepliance with all relevant external laws & regulations, internal codes and policies and good market practices from regulatory and financial manufacturing and distribution within WPB.
• Lead the team to work with relevant contacts in Insurance business within WPB (including the insurance manufacturing arm) to implement Bank's strategy, policy and standards as well as controls and systems to manage underlying RC risks.
• Articulate the RC risks relevant for WPB Insurance in Hang Seng Bank (HASE) HK and work closely with Regional (ASP) RC.
• Take the Key Person in Control Functions -pliance role under the Insurance Authority.
• Provide advisory services to Insurance business to ensure clear understanding ofpliance risk exposure on RC with respect to clients, transactions and products.
• Manage and foster a strong relationship with all relevant regulators in relation to the activities of HK and ensure timely disclosure of relevant information, in relation to RC related matters.
• Be responsible for second lineernance of RC risk exposures, providing analysis, reporting andernance to insurance business in HK that is independent of the first line of defense, thereby maintaining an objective assessment of risk exposure.
• To exercise risk steward challenge, act as independent trusted advisory inernance forums, issue management, fostering apliance culture and optimizing relations with risk owners and control owners.
• Assist the senior management, the leadership of thepliance function, and other colleagues on all materialpliance related matters.
• Represent HASE's Insurance business Risk &pliance agenda up to the highest levels of the Group'sernance, including being an attendee (as required) at the HK Board (and related submittees) to report on progress and issues in relation to the operational effectiveness of HSBC's policies, processes, systems and controls in countering RC risks.
• Be a leader of HASE Insurance business R&C team, establishing guiding principles and strategic operational objectives, owning budgeting and managing costs, headcount and resources to ensure that the team are fit for purpose and that the delivery of its critical services to the Group is both effective and cost-efficient.

Requirements

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LI-HASE

Job ID 0000L1B4