Controls Testing Utility Assistant Vice President (AVP), CACT, GSC’s

Job description

GCB 5

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Global Service Centers

Our Global Service Centers are an integral part of Global Operations. Employees based there manage day-to-day customer transactions and processes for the global businesses. This may include transactions for our retail bank such as processing loans, credit cards, insurance and mortgage applications, opening new accounts, and managing customer enquiries through contact centers and digital platforms.

Employees in the Global Service Centers also run and manage operations for commercial bank customers. This includes processing credit applications, facilitating payments and managing the import and export transactions that enable customers to protect and grow their businesses through international trade.

Role Purpose (overall high level summary of the role)

The Group's regulators require the Compliance function to assess the adequacy of the firm's controls, processes, procedures and resulting outcomes to manage risk. This responsibility is met by the Compliance Assurance (CA) sub-function.

Compliance Assurance Controls Testing (CACT) is a new division, situated within CA, responsible for determining the effectiveness of the Group's financial crime and regulatory controls, independent of Control Owners (who are responsible for day-to-day monitoring). CACT covers all Financial Crime (FC) and Regulatory Compliance (RC) risk taxonomies (AML, Sanctions, Anti-Bribery & Corruption and Fraud) across all businesses, functions and geographies of the Group. The division assesses, on an end-to-end basis where possible, the effectiveness of prioritised FC and RC controls embedded in the first line of defence and those operated by the second line on their behalf, and represents an integrated part of the function in discharging its assurance responsibilities.

CACT will deliver controls assurance in an efficient, reliable and independent manner by executing it via a Controls Testing Utility (CTU), domiciled primarily in offshore locations; and scoping, coordinating and overseeing these activities in a globally consistent manner via a Controls Testing Authority (CTA).

The role will be responsible for delivering assessments of assigned controls, in accordance with CACT procedures and the CACT assessment plan.

The role holder will be required to support the VPs/AVPs of CTU (location name) in assessing the effectiveness of assigned FC and/or RC controls, identifying and raising issues where control gaps lead to material unaddressed financial crime and/or regulatory/conduct risks.

At a high level, the role holder will be responsible for the following:

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Customise and localise standard test scripts and then evaluate assigned controls for design and operating effectiveness, raise issues as appropriate.

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Ensure that assigned control assessments are accurate, effective, abide by CACT procedures and templates, and meet quality control requirements.

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Ensure that assigned control assessments are delivered on time, in accordance with the CACT assessment plan.

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Supervise the delivery of assigned control assessments using experience and knowledge to intervene and redirect testing as required, resolving or redirecting escalations as required.

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Manage control owners and other stakeholders, ensuring the success of each assigned reviews, minimising contention where possible and requesting support where deemed necessary.

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Manage the documentation of distinct control types, covering key aspects, such as remit, main processes and handovers to other teams.

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Ensure that issue owners complete sufficient root cause analysis for all material issues and have appropriate remediation plans in place.

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Develop and motivate the testing specialists through coaching and on-the-job training, ensuring the successful delivery of assigned control assessments.

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Support the VPs of the (location name) CTU in fulfilling their CTU responsibilities as required, including planning forthcoming reviews, drafting issues, contributing to the development of procedures and templates.

We are currently seeking an ambitious individual to join this team in the role of “Controls Testing Utility Assistant Vice President (AVP), CACT, GSC's”. In this role, you will be responsible for the following:

Principal Accountabilities: Key activities and decision making areas

Typical Targets and Measures

Impact on the Business

· Lead a team of CTU Testing Specialists in executing the CACT assessment plan, ensuring the accurate, efficient and timely completion of independent FC and/or RC control assessments.

· Oversee the quality of work delivered by the testing specialists and ensure compliance with global template, procedure and quality requirements.

· Understand and document the remit, process composition and team handovers of relevant controls.

· Identify key emerging trends and themes in relation to FC and RC risks to inform the CACT assessment plan and the continuous development of CA methodology and procedures.

· Execution and delivery of assigned control assessments.

· Accurate, timely and reliable testing of FC and/or RC controls.

· Drive a consistent approach to CACT testing activities across all LoBs / FC and RC themes, in accordance with standardised procedures.

· Meeting agreed deadlines and targets.

· Support the production of high quality management information (MI) covering CACT activities.

· Increased utilisation of automation and analytics across all CACT assessments.

Customers / Stakeholders

· Build strong relationships with all internal stakeholders, adopting a joined-up approach to the execution of tasks with minimum conflict, while ensuring the independence of CACT.

· Ensure that executive and senior management in the business, functions and Compliance are advised of matters arising, and emerging trends, from assurance reviews and analysis.

· Provide stakeholders with insight into CACT activities.

· Support the VP of the CTU in liaising with Internal Audit to ensure that assurance activities and plans take full consideration of and inform audit activity.

· Effective stakeholder management, ensuring constructive assessment outcomes.

· Facilitate regular meetings with stakeholders and Compliance senior management.

· Outputs (presentation decks, papers, reports and guidance for the function) are clear, accurate and concise.

Leadership & Teamwork

· Provide timely and clear guidance and support to testing specialists on review basis.

· Contribute to the production of high quality CACT deliverables.

· Set the highest standards through personal behaviour, interaction with others and in the expectations set for CA.

· Embrace a high performance culture through effective proactive engagement and collaboration.

· Ensure effective communication across CA, delivering key messages and strategic updates as appropriate.

· Drive a high performance culture through attendance at team meetings and 1:1s with line manager and direct reports (where applicable).

· Maintain personal objectives set consistently across day-to-day activities.

· Layered approach to interactions with teams, sharing best practices and highlighting issues across the Compliance functions, as appropriate.

Operating Effectiveness & Control

· Contribute to the development of CACT procedures and templates, in collaboration with CTA, Compliance Assurance Professional Practices (CAPP) and SME teams, ensuring high operating standards within the division.

· Drive high operational standards within the team and avoid high risk findings from Internal Audit or other internal/external Assurance teams.

· Be innovative in executing all responsibilities and providing solutions to complex issues in a dynamic, high-risk environment.

· Support the VPs and the Head of CTU in meeting the requirements of the sub-division.

· Observation of line manager and feedback from key stakeholders.

· No high risk issues from Internal Audit reviews directly relating to CA.

· Delivery of assurance activities as per the agreed plan and review notifications.

Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities)

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Lead a team of testing specialists and deliver assigned control assessments to the highest standard in a designated timeframe.

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Understand the demands of the regulators, external bodies and governmental initiatives and the Group's shareholders and customers, as well as the complexity of financial services regulation and the diversity of business and geographies within the Group as a whole, taking these into account when configuring test scripts.

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Determine innovate ways of testing controls in a precise and efficient manner, harnessing analysis of data where possible.

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Be attuned to the political, management, operational, regulatory and reputational implications of particular decisions and courses of action. Managing the demands of the multiple and diverse aspects of the role.

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Assist management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks.

Role Context (The environment and operating conditions of the role including the extent of guidance and authority)

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The role holder will be required to lead on assigned control assessments, potentially covering all business lines, functions and geographies.

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The role holder will be required to provide clear and pragmatic guidance to the testing specialists.

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The role holder will support the VP and Head of the CTU in ensuring that the CACT assessment plan is executed as assigned, meeting HSBC risk management requirements and regulatory expectations, providing risk stewards, control owners and senior management with up to date information regarding standards of compliance with financial crime and regulatory compliance rules within the organisation.

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The role holder is required to work with considerable autonomy, dealing with issues for which there is no obvious solution while still being able to provide judgment and clear direction.

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The role holder is responsible for ensuring that the assurance standards in the division are in accordance with the CACT guidance, Group Standards Manual and Functional Instruction Manual (FIM).

Management of Risk (Operational Risk / FIM requirements)

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Be aware of the operational risk, primarily through identification and management of financial crime and regulatory compliance risk associated with business activities.

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The role holder will also be required to continually reassess the operational risks associated with the division, taking into account changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.

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The role holder is responsible for ensuring that the testing specialists operate in accordance with CACT standards.

Observation of Internal Controls (Compliance Policy / FIM requirements)

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Maintains HSBC internal control standards, including timely implementation of internal and external audit actions together with any issues raised by external regulators.

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To assist in the discharge of accountabilities set out in the Financial Crime and Regulatory Compliance Risk FIMs by proactively assisting Risk Stewards and Control Owners in their responsibilities.

Desired profile

Qualifications :

Knowledge & Experience / Qualifications (For the role – not the role holder. Minimum requirements of the role.)

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Minimum of 3 years proven experience in financial services compliance, testing, audit and/or legal management experience or equivalent.

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Good understanding of financial crime and/or regulatory compliance and/or the aptitude to develop this understanding in good time, and must be familiar regarding relevant regional laws, regulations and the overall regulatory environment.

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Minimum Bachelor's degree in related field such as business, finance, law or equivalent experience; Master's degree preferred.

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Proven organisational, planning, interpersonal, managerial, analytical, problem-solving, decision-making, and team building skills.

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Ability to manage conflicting priorities effectively and proven ability to meet challenging deadlines.

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Experience working with local and regional stakeholders and an understanding of global standards of quality.

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Ability to work with different cultural groups and build consensus.

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Requires understanding of the changing regulatory landscape regarding compliance functions within the banking industry.

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Ability to exercise discretion, work independently within broad guidelines, tactfully handle sensitive and confidential data and complete assignments timely.

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Experience utilising assurance automation and analytics tools preferred.

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Fluent in both oral and written English.

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Proficient with Microsoft Office.

The number of positions for this job is 1.

Additional Information

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All applicants must have successfully completed their probation period.

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Employees must meet performance and behavioral standards as defined in the policy.

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All L6 & L5 applicants should have served at least 24 months and should have successfully completed respective learning curve tenure, in their current role as on closing date.

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Applicant should not be on a corrective action plan/ disciplinary action in the last 6 months or any other performance action as on the date of application.

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Application form should be submitted along with the current CV.

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All applicants should inform their respective Line Managers of their application.

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All the completed applications should be submitted on or before the closing date.

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Applicant should not be on a corrective action plan/ disciplinary action in the last 6 months or any other performance action as on the date of application.

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The Company reserves the right to change any terms and conditions related to employment, mentioned in the Offer Letter and the Rules and Regulations governing the conduct of the employee in the Company. Such change would be intimated by the Company through an internal communication to the employees at large.

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Right to work is required. Local employment rulings and restrictions will apply.

You'll achieve more at HSBC.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment.


***Issued By HSBC Electronic Data Processing (India) Private LTD***