About this role
About HSBC:
HSBC Saudi Arabia provides investment banking services to the full spectrum of corporate and institutional clients in both the private and government sectors, including public companies; private companies and establishments; funds; government agencies; and family businesses and offices.
Role Purpose (overall high level summary of the role)
A senior management role playing a key central role overseeing, and executing key activities within the Risk and Control Framework in SSV. This will involve providing co-ordination, advice, independent challenge and assessment in relation to all risk governance, reporting and data quality activities undertaken by the NFR Function or the SSV Business/Risk Owners in line with NFRO model/FIM.
This will include, inter-alia, managing and delivering the following (or a subset thereof as agreed with management):
- NFR Policy& Assurance – To understand and interpret all NFR requirements (and changes thereto) and to provide on-going assurance and reporting regarding global adherence with requirements, working closely with MENA NFR teams and 2LOD stakeholders;
- FIM Policy – To understand the FIM Policy Framework and to manage and oversee the cascade and adoption of any changes thereto;
- Governance & Reporting – To oversee, support and deliver fit for purpose risk governance arrangements and related reporting (and other ad-hoc reporting as required);
- Assurance & Monitoring – To assist the NFR function in the consistent design and delivery a suitable risk based assurance and monitoring programme (including substantive control testing (ICMP), KRI and Thematic Reviews (supporting the SSV Non-Financial Risk Analysis Team))
- Risk & Control Assessment (RCA) – To assist the NFR function to ensure the SSV RCA is dynamically maintained, based on all relevant risk triggers;
- Supporting as required any related risk and control related activities including, but not restricted to, liaison with Internal/External Audit and Regulatory Authorities as well as key internal stakeholder.
Principal Accountabilities:
Key activities and decision making areas
Manage and Oversight
- Act as a senior manager within the HBSA SSV NFR function, assisting in driving management, coordination and execution of risk management activities across SSV.
- Maintaining relationships with 2nd/ 3rd line of defense risk functions.
- Maintain regular interaction with appropriate MSS and OPS Risk internal colleagues
- Oversee the effective monitoring of risks, services and processes against agreed group/divisional standards and external requirements.
- Ensure the risk governance framework is clear, fit for purpose and executed as defined, and that escalation paths are adequate and effective.
- Support line management as a key point of contact for SSV risk and control framework, policies, governance and reporting arrangements.
Customers / Stakeholders
- Support the NFR and SSV Senior Management in ensuring the appropriate risk and control structure is in place and that risks that have been highlighted are managed appropriately.
- Play a key role in communication across SSV, MSS, OPS Risk, Global Functions and DBS regarding the Risk and Control Agenda.
- Provide consistent internal and external benchmarking, where appropriate.
Leadership & Teamwork
- Support achievement of the HBSA vision, values, goals and culture in personal behaviour, actions and decision making.
- Provide technical leadership and support technical excellence by searching out external best practice, monitoring technical and professional developments, sharing knowledge and encouraging others to do the same in the best interests of HSBC SA and its customers.
- Encourage and enable constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and challenging actions and behaviours that are not consistent with HSBC SA Standards and/or the best interests of the business and its customers.
Operational Effectiveness & Control
- Ensure detailed understanding, communication and execution of a robust SSV risk management framework.
- Support line management and the NFR Leadership Team in driving the risk agenda across SSV, ensuring maximum awareness, management of issues and overall compliance with framework requirements
- Attend as required Risk & Control related committees/forums and ensure that the agenda effectively covers critical SSV risks and issues.
- Regularly review the business risk management policies and operating processes and activities.
- Assist the NFR function to minimize the likelihood and impact of disruption by ensuring that the business can continue to meet at least the minimum expectations of customers, counterparties, regulators and other stakeholders at all times.
- Implement oversight and assurance of the risk and control framework to ensure that operational (and other) risks are managed closely and effectively, in a commercially sensitive and practical manner.
- Drive to ensure that the business inherent risk profile and any related issues/impacts are understood by the business and the appropriate actions (and/or risk acceptance) have been put in place to manage residual risk within appetite.
Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)
- Overseeing and assuring a diverse and complex risk, control and regulatory environment, that is continually developing/changing in scope and focus.
- Keeping up to date regarding external developments in global regulation, market trends and competitor activity.
- Working as part of a truly global business operating in 38 countries, meeting Group standards of risk management, while understanding the commercial realities of SSV’ institutional client base.
- Working with internal and external stakeholders to shape a sustainable future for SSV.
- To respectfully challenge the risk profile with peers across MSS and relevant Global Functions, maintaining a balance between risk reward/commercial benefit.
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
- Primary functional and entity reporting relationship to the Head of SSV, NFR Governance, Reporting and Data Analysis
- Close working relationship with the relevant NFR teams at all levels.
- Close working relationships with relevant stakeholders and peers across MSS, and Group Functions (Risk & Control related)
- Key role in the SSV Risk Governance and Reporting processes and all related NFR related activities.
- To deputize management at SSV and MSS Governance Forums as requested.
Observation of Internal Controls (Compliance Policy / FIM requirements)
The jobholder will also adhere to, and be able to demonstrate adherence to, internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
The jobholder will implement the HBSA Compliance Policies by containing compliance risk in liaison with the HBSA Heads of Compliance (Regulatory and Financial Crime). The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity.
Also, and when applicable, this will be achieved by ensuring adequate resources are in place to deliver to compliance requirements, ensuring training is provided and by fostering a compliance culture.
Knowledge & Experience / Qualifications ( For the role – not the role holder. Minimum requirements of the role.)
- Educated to undergraduate or post-graduate degree level in Accountancy, Finance or related field.
- Strong leadership and management ability, including motivating employees in the wider organisation.
- Deep understanding of HSBC structures, processes and objectives, especially in the risk environment.
- Broad knowledge of the external environment (regulatory, political, competitors etc.).
- Deep knowledge of HSBC and MSS: functionally, operationally and financially.
- High level of drive and motivation to ensure delivery of a broad range of outputs simultaneously.
- Proven ability to articulate complex issues concisely and in clear language.
- Use judgement and experience to determine how to handle complex requests and varying timescales; make judgements quickly and consistently.
- Relationship management and collaboration skills: ability to form effective relationships and achieve influence with peers across the organisation.
- Interpersonal skills: proven ability to communicate effectively and confidently at all levels across the Group.
- Practical experience of major business tranformation activities.
- Proven abilities in managing virtual teams and working across cultures in a global business context.