HSBC Operational Risk Legal and Regulatory Matters Lead in Arlington Heights, Illinois

The purpose of this role is the development and maintenance of a group-wide operational risk capital modelling capability. The role requires also operating the model in the live environment and conducts ongoing research and development into Operational Risk quantification and, will require regular interactions with business areas, Regulators and peers.

Impact on the Business/Function

  • Contribute to the development of a risk based Operational Risk Capital model that will support Global Operational Risk management and measurement in line with Regulatory expectations
  • Ensures robust analysis of data inputs that form key inputs into the capital calculation.
  • Understands internal and external Global Operational Risk events and trends and ensures that are incorporated in the Capital Model where applicable Customers / Stakeholders

  • Liaises with Regions and Global Businesses and that they understand and the requirements for the capital model processes and inputs

  • Helps in liaising with the Internal Model Review to ensure the model logic, assumptions, scope and results are independently reviewed and validated
  • Helps in liaising with the Internal Audit to ensure the model logic, assumptions, scope and results are independently reviewed and validated
  • Advises and challenges reporting teams to ensure that their activity is supporting the effective and consistent embedding of the Global Operational Risk.
  • Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets Leadership & Teamwork

  • Support achievement of the HSBC vision, Values, goals and culture in personal behaviour, actions and decision making.

  • Take personal responsibility for understanding and agreeing performance expectations, completing the necessary mandatory training and developing the levels of capability and competence needed to be effective in the role.
  • Contribute to team development, effectiveness and success by sharing knowledge and good practice, working collaboratively with others to create a productive, diverse and supportive working environment. Operational Effectiveness & Control:

  • Suggest ideas and contribute to implementing actions that will improve customer service, quality or the way teams and individuals work together.

  • Adhere to HSBC policy, procedures and control requirements applicable to day-to-day working, exceptional and project activities, and raise any concerns about actual or potential issues promptly, in line with reporting and escalation procedures.
  • Continuously monitor the operational risk environment, gather information from business, HOST and functions sources to assess potential impacts and identify risks, necessary changes and business opportunities.
  • Apply operational risk policies, procedures, practices and standards to their allocated tasks, taking responsibility for their own actions, to ensure the achievement of high levels of quality, effective risk management and regulatory compliance. Management of Risk

  • The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation.

  • This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
  • The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence’. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required.
  • Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite.
  • The following statement is only for roles with core responsibilities in Operational Risk Management (Risk Owner, Control Owner, Risk Steward, BRCM, and Operational Risk Function
  • The jobholder has responsibility for overseeing and ensuring that Operational risks are managed in accordance with the Group Standards Manual, Risk FIM, & relevant guidelines & standards. The jobholder should comply with the detailed expectations and responsibilities for their core role in operational risk management through ensuring all actions take account of operational risks, and through using the Operational Risk Management Framework appropriately to manage those risks. This will be achieved by:

  • Continuously reassessing risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.

  • Ensuring all actions take account of the likelihood of operational risk occurring, addressing areas of concern in conjunction with Risk and relevant line colleagues, and also by ensuring that actions resulting from points raised by internal or external audits, and external regulators, are correctly implemented in a timely fashion. Observation of internal controls

  • The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures.

  • The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. 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 following statement is only for roles with managerial or specific Compliance responsibilities
  • The jobholder will implement measures to contain compliance risk across the business area. This will be achieved by liaising with Compliance department about business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators. Local Job Requirements
  • Manage the Legal & Regulatory component of the Operational Loss Forecast from start to finish for CCAR and DFAST
  • Support the execution of CCAR/DFAST Scenario Analysis workshops for use in the Operational Loss Forecast
  • Ability to navigate a complex organizational structure and convene bank executives for workshops and meeting which drive actionable outcomes or processes
  • Respond to Audit/Internal Model Review (IMR) findings for the Legal & Regulatory component of the forecast
  • Ability to adjust to a dynamic workload that fluctuates throughout the year, while achieving deadlines which have limited flexibility due to related to regulatory reporting

  • Experience in financial forecasting (operational risk forecasting beneficial)

  • Exposure to regulatory reporting processes such as CCAR/DFAST
  • Ability to communicate & interact with employees across team, function, and within the Legal Department
  • Demonstrates advanced oral and written communication skills
  • Experience with managing complex pieces of a larger project
  • Proficient user of Excel and PowerPoint
  • Use of Wdesk is advantageous
  • Knowledge of the banking industry and risk management

    EEO/AA/Minorities/Women/Disability/Veterans 

Job: *Risk Management

Title: Operational Risk Legal and Regulatory Matters Lead

Location: Illinois-Arlington Heights

Requisition ID: 00009COQ