The role of the Regulatory Compliance Officer is to provide pro-active Compliance support to the Front Office of the UK Private Bank. Ensure the provision of quality, timely and accurate guidance on established internal guidelines and external regulations.
Ensure that Private Banking Great Britain (PBGB) develops and maintains the highest compliance standards by following both the letter and the spirit of the relevant regulatory requirements, Group Standards Manual, Profit Before Tax (PBT) Functional Instruction Manual (FIM) and Compliance Officers Handbook. Ongoing review of existing systems and controls within the Front Office to ensure that they remain fit for purpose.
Your responsibilities will include:
- Serve as a main point of contact for the Front Office in relation to compliance matters pertaining to established internal guidelines and external regulations.
- Actively review business processes and supporting systems and controls within the Front Office, and drive forward amendments as required.
- Ensure that PBGB develops and maintains the highest compliance standards by following both the letter and the spirit of the relevant regulatory requirements, Group Standards Manual, PBT FIM and Compliance Officers Handbook.
- Proactively provide timely updates to the Compliance Team of business developments within the Front Office.
- Collate and monitor Key Performance Indicators to assist in the identification of trends, and to feed into the appraisal process of Front Office employees.
- Develop and deliver compliance training as appropriate.
- Develop and maintain a collaborative working relationship with relevant Compliance and Business stakeholders whilst ensuring independence of the Compliance function.
- Lead by example, demonstrating core behaviours and values including teamwork, focus, drive and determination.
- Work collaboratively across peer group and organisation.
- Foster strong relations with PBIG employees, Relationship Managers and other staff.
- Participate in relevant HSBC forums and working groups.
- To assist the Front Office in its responsibility for complying with all relevant Regulations, including the provision of advice on compliance issues. This should include all aspects of the Legal and Compliance FIM.
- To monitor Front Office processes and supporting systems and controls, and ensure any shortcomings are rectified.
- To provide technical support to the Human Resources or Training function in the provision of training or, as the case may be, to provide training directly to the Front Office in the procedures and practices necessary to achieve compliance with relevant Regulations.
- To report to the Head of Compliance Advisory and local senior management of all material and significant breaches or potential breaches of Regulations and/or internal processes and supporting systems and controls.
- Support regulatory and audit reviews as required. Facilitate information requests and meetings, and co-ordinate management responses to examination findings.
- To observe the Group Legal and Compliance FIM.
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.
The ideal candidate for this role will have:
- Relevant product knowledge including knowledge of Credit, Lending, Investments
- Practical knowledge of broad range of products and asset classes marketed by Private Banking.
- Experience working in relevant environment/s, i.e. Advisory/Private Banking
- Past working experience in a relevant role, i.e. is desirable but not essential
- Experience of private client business conducted in a UK environment.
- Solid understanding of UK regulatory system including detailed knowledge of Financial Services Authority’s (FSA’s) rules.
- Basic understanding of global cross-border private banking business conducted from UK.
- Thorough understanding of PBGB Front Office business processes, and supporting systems and controls.
- Confidence to interact with and influence senior management within PBGB.
- Experience working in relevant market/context, i.e. is desirable but not essential
- Self-awareness with confidence to work independently and take responsibility for own development
- Both spoken and written communication skills with experience of adapting your style and approach to the audience and message to be delivered
- Worked collaboratively with other colleagues, supporting them when possible
- In addition to the details listed above, the ideal candidate will Regulatory Compliance, Senior Stakeholder experience