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As part of Global Compliance, Regulatory Compliance ensures adherence to applicable regulation 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 of regulations 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.
We are currently seeking an ambitious individual to join our Regulatory Compliance team, working together with colleagues to define, manage and support business compliance.
In this role you will report to the Regional Head of Regulatory Compliance HOST (Operations) and Global Functions (GF), MENAT (and deputise where required) in their duty to provide Regulatory Compliance oversight of countries and functions within the region. You will be the go-to person for Regulatory Compliance issues / projects for their designated HOST / Global Functions to ensure processes are coordinated and implementation risks and issues are considered and addressed. The roles requires a strong partnership with the GF and HOST teams in order to ensure key regulatory changes are proactively communicated and understood.
In this role, you will:
• Need to stay at the forefront of regional regulatory changes and evidence proactive engagement and communication with GF and HOST teams to develop appropriate policy and framework to manage the changes in MENAT.
Responsibilities will include:
• RC risk stewardship to MENAT and UAE HOST & Global Functions (GF), particularly supporting their outsourcing strategy, TPRM initiatives and implementation of new regulatory requirements including mandatory regulatory projects. Annually, the role would provide RC advisory support on approximately 60+ outsourcing/data transfer/cloud initiatives, 8-10 regional regulatory projects besides a number of group led policy/system developments
• Engage with UAE Central Bank to seek solutions around payments related regulations and to discuss and agree on timelines, and staying up to date with local regulatory changes
• Provide Regulatory Compliance support for implementation of UAE and GCC wide Payment systems projects, and Group streamlining initiatives such as Data Visa, Outsourcing Portal (ROPE), Outsourcing Compliance Assessment, etc.
• Monitoring of IT related incidents across MENAT, impact assessment and review regulatory reporting requirements for material incidents, and to facilitate reports to the regulator where required
• Primary Risk steward of Group RC policies relating to HOST and GFs such as requirements around Outsourcing, Personal Account Dealing, Conflict of Interest, Control of Information etc.
• Supporting the implementation of the conduct risk agenda for HOST and GFs
• Partnering with Regulatory Compliance Monitoring and Testing (RCMAT) to review and support the update of Risk and Control Assessments (RCAs) for the functions and have input to the RCMAT review plan as needed.
• Identifying and facilitating regulatory compliance training
• Deputizing for the Regional Head of RC HOST & GF, MENAT when required