Manager Compliance Screening Centre of Excellence Oversight & Quality Assurance

Manager Compliance Screening Centre of Excellence Oversight & Quality Assurance

23 Feb
|
HSBC.
|
Toronto

23 Feb

HSBC.

Toronto

HSBC is Canada’s leading international bank – there is no one like us in this market.

Our ability to bring our global experience and perspective to evolving trends and issues in Canada has been a tremendous benefit to our clients. With our offer of unique banking solutions, as well as an extensive global network, no one is better placed to support internationally minded individuals and businesses.

HSBC helps companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking.

It’s through this global connectivity that you will find yourself inspired,





collaborating with colleagues not just locally but also across continents and cultures.



About HSBC Compliance



Compliance is a global function that brings together all aspects of regulatory and financial crime risk management. Acting as risk stewards, and incorporating a range of specialist teams, we work together with the business and leverage advanced technology to help HSBC navigate a complex regulatory landscape and embed a sustainable approach to compliance risk management that supports safe growth and serves customers fairly. Compliance aspires to continuously raise the bar and set leading standards across the industry to help HSBC safeguard its customers and the communities within which it operates



Key Objectives for Manager Compliance Screening Centre of Excellence Oversight & Quality Assurance:



This position is a management position overseeing the daily operations of offshore Sanctions Screening Alert Investigators (Name/Transaction Screening) and Sanctions Quality Assurance (QA). Taking the global Centre of Excellence (CoE) procedures and subject matter expertise into account, the role holder will direct the team to make decisions on time-sensitive transaction screening alerts that have reached Level 3 and on whether or not the transaction can be released or must remain held and escalated to Sanctions. The role holder will also provide guidance to Sanctions Quality Assurance (QA) and perform continuous monitoring of their reviews. Full and complete records of all decisions especially those to discount/release a transaction are to be collated and retained for all investigations carried out by the team. The role holder will oversee workflow and resource management jointly with offshore Head of Compliance Screening (CS) & Group Service Centre (GSC) Oversight and actively manage alert queues ensuring all queues are clear at end of day.





Principle Accountabilities:



The role holder is responsible for compliance with Sanctions policy, external sanctions regulations applied locally and oversight of operations that support compliance with local Sanctions regulation at country level through:



- Fulfilling and executing required Level 3 Sanctions Screening and alert investigation and Sanctions Quality Assurance (QA) reviews

- Directs the team to make the appropriate escalation or risk based decision on potential matches that have reached level 3

- Fulfilling required Level 3 Sanctions Screening and Sanctions Quality Assurance (QA) subject matter expertise and assessment

- Provide sound recommendations for mitigation or remediation of Quality Assurance (QA) findings and monitor that remedial actions are continuously adhered to

- Assist Head of Compliance Screening (CS) & Group Service Centre (GSC) Oversight in operating and continuously monitoring controls

- Acting as a principal point of contact within Level 3 Sanctions Screening and Sanctions Quality Assurance (QA) to provide support to wider Compliance management team

- Managing, identifying, mitigating and escalating Sanctions screening risk within Canada in a proactive and continuous manner

- Supporting the implementation of globally led Sanctions screening and Quality Assurance (QA) change initiatives within the team



Fulfilling required Canada level policy management activities:



- Communicate and oversee the implementation and full embedding of Canada policy change that impact Sanctions Screening

- Support Head of Compliance Screening in liaising with Sanctions, Regulatory Affairs and Legal to identify sanctions themes, trends and emerging legislation

- Identify and respond to external trends and regulatory requirements which have an operational impact on the team through the inception of changes to BAU process

- Where identified, escalate Sanctions breaches in the appropriate manner to the required escalation point. Ensure Level 3 Sanctions Screening team are confident in the escalation of Sanctions breaches

- Conduct root cause analysis within Quality Assurance (QA) Sanctions and the wider Compliance Screening team and lead trend analysis within the Level 3 Sanctions Screening team

- Maintain awareness of offshore team’s adherence to completing work within Service Level Agreements (SLA's), undertake appropriate escalation for items not meeting Service Level Agreements (SLA's)



Fulfilling screening alert investigation and Quality Assurance (QA) activities:



- Drive adherence to the global Sanctions Risk Appetite Statement

- Conduct periodic review of the Sanctions screening standards with regards to procedures, risk based approaches and Quality Assurance (QA) methodology

- Responsible for ensuring the quality of documentation regarding decisions to discount a potential match as a false positive within the Level 3 Sanctions Screening team are in line with global standards and Canada specific requirements, where applicable

- Review daily escalations from the GSCs / DBS teams to identify opportunities for efficiency uplift as well as to resolve RFI backlogs with FC Advisory or LoB teams



Fulfilling required regulatory engagement and all reporting (internal and external) activities:



- Support Head of Compliance Screening in engagement with regulators and industry bodies by supplying information in a timely and accurate manner

- Reviewing data and providing feedback to the MI team

- Analyse collated MI for Level 3 Sanctions Screening and Sanctions Quality Assurance (QA) to identify trends, anomalies and potential process improvements to continually improve the management and mitigation of Sanctions risk



Fulfilling required Sanctions screening subject matter expertise and assessment activities:



- Provide subject matter expertise to FC Advisory and the Lines of Business



All activities outlined above to be underpinned and integrated with:



- Effectively acting as the point of contact within team for internal stakeholders for Level 3 Sanctions Screening and Sanctions Quality Assurance (QA) matters

- Effectively managing, identifying, mitigating and escalating Sanctions screening risk within Canada in a proactive and continuous manner

- Keeping abreast of, raising awareness to and supporting the implementation of globally led Sanctions screening and Quality Assurance (QA) change initiatives within the team

- Financial Crime (FC) / Second line of defence

- Work closely with Head of Compliance Screening for effective management oversight of Level 3 Name/Transaction Screening and Sanctions Quality Assurance (QA)

- Provide assistance in interactions with Assurance

- Third line of defence

- Work collegiately with Internal Audit to ensure effective deployment of agreed audit strategies, providing support Compliance Screening team actions

- Provide details of updates and actions on audit findings within Level 3 Sanctions Screening and Sanctions Quality Assurance (QA) to Canada Head of Sanctions

- External Stakeholders

- Assist Head of Compliance Screening in preparation for work with relevant industry bodies and groups in relation to Sanctions screening initiatives, trends and proposals

- Lead and develop an effective Level 3 Sanctions Screening Alert Investigation team and the Quality Assurance (QA) Sanctions team through constant communication, cultivating an environment that supports collaboration, diversity, and reflecting the HSBC brand

- Direct the activity of the Level 3 Sanctions Screening Alert Investigation team and the Quality Assurance (QA) Sanctions team ensuring training and succession planning are in place

- Ensure Level 3 screening and Quality Assurance (QA) development activities are a core priority and emphasize material topics are taken for learning and developmental activities

- Develop positive and professional working relationships with all onshore and offshore team members and colleagues

- Foster positive and professional working relationships within FC and other Compliance teams

- Ensure the management of resources, people, process and change management to support a customer/commercially focussed FC function

- Promote an environment that supports diversity and reflects the HSBC brand.

- Work closely with Head of Compliance Screening, Global Transaction Screening, DBS Level 2 and Global Head of Quality Assurance (QA) to provide regional solutions to complex global issues/initiatives in an ever changing, high-risk environment.

- Liaise with Head of Compliance Screening and Head of Compliance Screening (CS) & Group Service Centre (GSC) Overight to create a schedule for the implementation of FC Sanctions controls within the team

- Ensure that global Centre of Excellence (CoE) procedures are updated to consider Canada specific requirements or addendums are created as necessary following changes in Policy and/or Canada Country Supplements

- Maintain awareness of operational risk within direct reporting line to minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting

- Maintain and observe all HSBC control standards including the timely implementation of recommendations made by internal/external auditors and external regulators

- Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.

- Complete other responsibilities, as assigned.



Qualifications





Knowledge & experience / Qualifications:



- Risk professional with experience in one or more risk compliance roles, to include Sanctions experience

- Knowledge of Sanctions regulations

- Is able to read and fully understand the content of SWIFT messages

- Familiar with the life cycle of payments, trade and securities transactions

- Experience in the financial services industry, specifically within a Name/Transaction Screening and Quality Assurance environment

- Lateral thinker with an ability to interpret and solve complex issues

- Well-developed leadership skills

- High level of English language skills

- Excellent communicator with strong inter-personal and influencing skills

- Ability to adapt to change and provide input where necessary

- Ability to develop practical, cost effective solutions to complex issues



HSBC Proud



As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC Canada is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.





If this is not the ideal role for you, we invite you to sign up to our talent community so that we can update you about job opportunities and career events in your area of interest. We are always looking for people with purpose and ambition who can help us build the bank for the future.





We encourage all Indigenous peoples of North America and Persons with Disabilities to self-identify in their applications. In addition, we invite you to reach out to Matt Woods, our Diversity Recruitment Relationship Manager at [email protected] for support during the selection process.

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