Role Title: Operational andResilience Risk Senior Risk Steward Global Markets, Equities
New or Existing Role- New
- Global Operational and Resilience Risk (ORR) is a sub function of Group Risk. Its purpose is to make sure HSBC understands, and is in control of its non-financial risk position. In addition, the function provides resilience risk stewardship to the Global Business and Functions and the entities we operate in. This is achieved through:
- Completinganalytical assessments and opining on the control environment of the First Lineof Defence (1LOD) within Businesses and Regions
- Constructivechallenge to Equities on their control environment and assessment of risk
- Oversightof emerging risks, strategic business initiatives and local change activity andnew/materially changed products
- Analysisof risk exposure across all bank operations and territories to informcapitalmanagement and stress testing requirements
- Completingthematic reviews and aggregated reporting of the Non-Financial Risk profile ofthe bank
- Responsibilityfor the implementation of a Risk Management Framework (RMF) that sets outgovernance, policies and practices to proactively identify, assess, measure andreport on, mitigate and control operational risk exposures associated withHSBC’s businesses and operations at all levels of the organisation.
- The role holder is responsible for supporting the Global Head of ORR Global Markets establish and adhere to standards for the management of operational risk as set out in the Group’s framework for Enterprise Risk and Operational Risk Management, and resilience risks are managed within appetite.
- The role holder will have global responsibility to provide Equities ORR oversight:
- Ensurethe integrity and timely completeness of risk and control identification,assessment and information within the Group’s Risk and Control system of record(Helios) as well as directing documented remediation plans for residual risks
- Conductsthematic reviews within Equities to ensure that risk and control environment iscommensurate with the scale and nature of operations
- SupportsEquities on their ORR management and acts as a key contact and escalation forsenior stakeholder engagement throughout Equities, making sure delivery isconsistent and of high quality.
- Supportswith embedding the Risk Management Framework (RMF) and provides advice,guidance and challenge
- inrelation to ORR oversight and internal control effectiveness within Equities
- Provides2LOD oversight of top and emerging risks, ensuring Equities can mitigate thesetimely and cost effectively
- Assessescompliance with Group policies and risk appetite
- Attends Equitiescontrol meetings and non-financial risk governance forums, providing bothOperational Risk oversight and robust and timely Risk Steward challenge of theFirst Line of Defence (1LOD) view of the resilience risk profile as required
- Developsand promotes an increasingly insightful process based view of ORR risks
- Supportsthe implementation and embedding of the ORR functional strategy
- Ensuresthe integrity and timely completeness of risk and control identification,assessment and information within the Group’s Risk and Control system of record(Helios) as well as directing documented remediation plans for residual risks
- Applyrisk stewardship review and challenge over Resilience Risk RCAs and controlenvironment
- Worksclosely with Strategic Change Oversight to risk assess and oversight materialchange programmes from planning through to execution, particularly in relationto embedding appropriate operational resilience at the outset
- Bridges the gapbetween 1LoD Equities Business Digital teams and 2LoD resilience risk specialists,to understand, translate and challenge the design and delivery of digitalsolutions and infrastructure.
Impact on the Business:
- Contributes to the design of the Operational Risk and ResilienceRisk taxonomy’s and the operational framework
- Supports implementation of the Operational Risk and ResilienceRisk frameworks globally, this includes Risk Strategy, Risk Appetite, RiskTaxonomy and Risk Control Library strategy and policy frameworks
- Supports business 2LOD reporting on the status of resiliencerisks, and active contribution into cross-RR reporting globally
- Provides oversight globally across Equities 1LOD’s adoption of standards,processes and procedures required to implement the policy objectives
- Provides robust challenge and actionable and contextual guidanceacross all NFR risks within Equities both enabling business growth whilstmaintaining related risks within appetite
- Implements and provides effective oversight of RMF includingpolicies, tools and methodologies for use by line management within Equities
- Monitors internal and external risk trends and ensures thatmitigating strategies and policies are developed
- Supports Equities regulatory requirements and economic capital calculations in respect of Operational Risk can be supported.
Customers / Stakeholders
- Influence senior stakeholders within Equities to fulfil roles andresponsibilities and manage non-financial risk and resilience risk according tothe Group’s frameworks and within stated appetite
- Build and maintain relationships with external partners,Regulators, industry bodies and others to keep up to date with developments
- Deliver fair outcomes for our customers and ensure own conductmaintains the orderly and transparent operation of financial markets
- Interface with 2LoD resilience risk specialists to ensureeffective oversight and understanding of risks relating to digital businesses,channels or initiatives e.g. build out of digital channel functionality,execution of digital change programmes, applications, services, software anddevices.
Leadership & Teamwork
- Lead and role model for non-financial risk aligning with the Bank’s strategy, behaviours and values
- Challenge and influence to ensure how we manage and quantify our risk exposure and fully embed a strong risk management culture and behaviours is effective
- Work effectively with the wider Operational Risk and Resilience Risk team
Operational Effectiveness & Control
- Partner with business leads across 1LoD in the region to identify, measure, mitigate, monitor and report resilience risks
- Ensure key non-financial risk reports adhere to requirements of Enterprise Risk Framework and escalation routes operate for top and emerging non-financial risks to reach appropriate Risk Management Meetings
- Support ad-hoc project work and investigations to provide further analysis into process control failings as required
- Keep abreast of industry and regulatory developments in non-financial risk management and continually assess the impact these might have on the firm.
- Operating with influence and gravitas across all Lines of Defences, Global Businesses and Legal Entities within the Region, in relation to the management and oversight of non-financial risk
- Providing clear delineation between accountable activities under Operational Risk and Resilience Risk
- Providing effective leadership to influence and embed culture change across all levels of seniority and all businesses and functions across the region
- Maintaining a commercial understanding without compromising standards of internal control and organisational risk appetite in a growing and successful business
- Adapting quickly to changing situations and influence strategies with practical, effective commercial solutions through a comprehensive assessment if the non-financial risks are perceived to exceed appetite and also aid in the mitigation of risk exposure by using a wide knowledge learned from different competitive environments, industries and experience
- Maintaining independence of thought and lateral thinking to assist in optimising the level of business control and maximising efficiency.
- Close working relationship with seniorstakeholders across the C-suite population of Equities globally
- The jobholder is required to contribute tomaintain an excellent relationship with regulators and industry bodies in respectof non-financial risk and policy developments for resilience risks.
- HSBC serves the needs of retail, corporate and institutional clients delivering innovative and integrated financial solutions. The Risk function discharges oversight on the management and monitoring of financial and non-financial risk by the businesses and their support functions.
- The importance of non-financial risk and control has increased in recent years and is now the most influential subject for senior management, boards, and regulators. An organisation’s ability for effective identification, measurement and mitigation of non-financial risk will have a significant impact on the achievement of strategic objectives.
- The role has direct line management but also has influence over a wider group of stakeholders and employees across the organisation.
- You will be required to
- Manage multiple senior stakeholder relationships, spread across Equities globally
- Enhance risk understanding and control across HSBC’s products and services globally
- Work closely with C-suite population on reporting of progress against appetite and the adequacy of policy and the control environment
- The responsibility for non-financial risk spans global business operations globally for Equities. You may also be responsible for local entity management for other team members outside of your direct reports, according to HSBC local entity management requirements.
- Responsible for ensuring awareness of the operational risk impact associated with the role and must act in a manner that takes account of operational risk considerations.
Observation of InternalControls
- You will adhere to and be able to demonstrate adherence to HSBC internal control standards. 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.
Knowledge &Experience / Qualifications
- Strong level of business management knowledge
- Strong level of risk management knowledge and relevant experience in at least one of the underlying resilience risk disciplines
- Ability to communicate effectively, building strong relationships and influencing key senior internal and external stakeholders - by articulating compelling arguments, positions, strategy and vision
- Comprehensive knowledge of the external environment (risk, regulatory, geopolitical, competitor etc.)
- A change agent who challenges the status quo as a robust diplomat; cogently, constructively and positively, leading relevant strategies that enable safe growth of HSBC.
- A BA or BS University Degree, advanced degrees preferable, (e.g. MBA, MSc, PhD) in relevant discipline.
- Providing Expert Advice and Robust Challenge
- Delivering Risk Steward Policies
- Oversee, Review, and Challenge Risks andControls
- Understanding and Applying Risk Management inContext.
We are a diverse workforce and it is part of ourorganizational culture, it reflects our belief that diversity of thought,background and perspective make HSBC a stronger organization. We strive toimplement a culture that is inclusive, diverse, positive andperformance-oriented. Having a diverse workforce allows us to benefit from avariety of perspectives and strengthens our local and globalcompetitiveness. We value diversity in our workforce and encourage allqualified candidates to apply from a variety of perspectives and strengthensour local and global competitiveness. We value diversity in our workforceand encourage all qualified candidates to apply.
As a business operatingin markets all around the world, we believe diversity brings benefits for ourcustomers, our business and our people. This is why HSBC is committed to beingan inclusive employer and encourages applications from all suitably qualifiedapplicants irrespective of background, circumstances, age, disability, genderidentity, ethnicity, religion or belief and sexual orientation.
We want everyone to beable to fulfil their potential which is why we provide a range of flexibleworking arrangements and family friendly policies.