Chief Control Officer CIIOM

Chief Control Officer CIIOM

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As an HSBC employee Channel Islands and Isle of Man (CIIOM) you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all employees, enhanced parental and adoption pay and support when you return to work, and a non-contributory pension scheme with a generous employer contribution.

We are currently seeking a high calibre leader with strong stakeholder management skills to join this team in the role of Chief Control Officer CIIOM

The CIIOM Chief Control Officer is responsible for enabling the Entity to operate within its risk appetite, by ensuring efficient and effective risk and control management and evolving a culture of continuous and consistent risk management. The role holder is also responsible for enabling colleagues within CIIOM to deliver best in class service to all customers, colleagues and the Bank itself. This will be achieved by:

• Enforcing robust risk governance and ensuring all stakeholders within CIIOM have visibility of key risks and remediation activity.

• Conducting high quality and efficient reviews of control performance.

• Continually reassess operational risks and controls 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 and responding quickly and effectively to remediate

• Setting, communicating and monitoring risk appetite in line with regional and global requirements.

• Accountability of the Financial Crime Risk agenda, including CDD, Fraud, Transaction Monitoring, Customer Screening, SCCs and Tax Reporting, managed with a team of 50 FTEs.

• Robust Third Party Risk management in line with regulatory requirements.

• Ensure compliance for CIIOM and wider pan-European/UK regulations impacting CIIOM, including PSD2, CBPR2, etc.

• Raising awareness and understanding of risks, controls and risk management across the islands and CIIOM Operations (including offshore).

• Proactive management of non-financial risks within market and effective use of the Non-Financial Risk Framework

The role holder will coordinate COO and First Line of Defense risk activities in CIIOM (all lines of business) to drive these objectives and implement a consistent and effective approach to end-to-end risk management working in partnership with our 2nd line Compliance/Risk/Legal colleagues.

The CCO role is particularly critical in the context of increased internal, as well as external attention to identify, measure, evaluate, control and manage risk effectively. You will support the safe growth of the Bank by ensuring activities align to the global strategy and challenging senior leaders to avoid introduction of risk. The role holder will work closely with country senior management to write papers for use of regulators, auditors and other external bodies.

• Setting and executing the CCO strategy to improve risk and control management in CIIOM

• Providing control expertise and opining on the end-to-end health of the control environment across

• Leading on the implementation of Group Risk policies and frameworks for Risk Management.

• Managing internal and external audit requirements for CIIOM.

• Frequent interface with Regional WPB and HBEU key stakeholders on strategy and issues related to monitoring, controls and remediation.

• Permanent senior representative at CIIOM risk forums.

• Oversight and responsibility for Financial Crime Risk, Fraud, Third Party Risk Management, Business Standards & Oversight and Business Control and Risk Management teams in CIIOM.

• Within Financial Crime Risk, the role holder will have oversight for all CIIOM WPB CDD, Fraud, Transaction Monitor, Customer Screening, SCCs and Tax Reporting, managed with a team of 30 FTEs.

• Running and reporting the 1st line of defense Control Metrics

• Hold appointed person status with regulators

Market Context:

The Channel Islands (Jersey, Guernsey, Alderney and Sark) and Isle of Man are major global offshore booking centres for global expats, with Jersey well-established as a leading offshore financial centre that has long been a key base for international banking and private wealth management.

The CIIOM business has all Global Business lines operating from Jersey’s Head Office (WPB incl PB, CMB & GBM) generating FRP Revenue $739m in 2023, CER 24.5% and PBT in excess of $550m, with over $30Bn held in deposits the business is critical in delivering liquidity for HBEU (37%).

Due to the complexity of the business, CIIOM is overseen across 6 regulators:

• Jersey Financial Services Commission (JFSC)

• Guernsey Financial Services Commission (GFSC)

• Isle of Man Financial Services Authority (IoM FSA)

• UK Financial Conduct Authority (FCA)

• Hong Kong Monetary Authority (HKMA)

• FINMA (Swiss regulator) – starting in June 2023 post PBRS integration

• Previous experience in Risk Management within a global organisation, working across cultures.

• Ability to present complex issues confidently and concisely to Group Executives, Non-Executives and Regulators, using simple language and accommodating globally distributed stakeholders.

• Comprehensive knowledge of the external environment (risk, regulatory, political, competitors etc.).

• Outstanding relationship management, collaboration and influencing skills with experience of positive, challenging interactions with senior executives across multiple functions.

Technical Competence

• Risk & Control subject matter expertise.

• Ability to distil complex and varied information into useful, insightful and concise recommendations.

• Ability to identify, assess and communicate the need for risk management intervention in complex, fast-paced environments.

Focus & Energy

• Proactive and delivery focused to ensure individual and team tasks are completed on time and to the required levels of quality.

• Ability to prioritise team workload effectively, across multiple businesses and countries, in line with business and controls priorities and work with other resource owners to agree timely provision of services

• High level of drive and self-motivation to ensure delivery of a broad range of outputs simultaneously in a matrix environment.

• Committed to personal and professional development both for self and team.

Judgement

• Skilled decision-maker, making considered and timely decisions, particularly when under high pressure.

• Able to delegate effectively where necessary.

Relationships

• Ability to build senior relationships by communicating, influencing and negotiating effectively with senior executives, non-executives, regulators, third parties and internal management teams.

• Ability to use initiative to resolve issues, whilst dealing with a diverse range of stakeholders and team members, distributed across functions and locations.

• Experience of building and maintaining strong working relationships across a globally distributed matrix organisation.

• Outstanding interpersonal and communication skills with a proven ability to communicate effectively and confidently at all levels across the Group.

• Proven capability in building globally distributed, high performing teams of experienced professionals.

• Experience of managing staff in a matrix environment without direct line management responsibility for all staff.

For further details and application information please click “Apply”

You’ll achieve more when you join HSBC.

HSBC is committed to being an inclusive employer and providing an inclusive and accessible recruitment process for all. We will provide reasonable adjustments to remove any disadvantage to you being considered for this role. We are proud members of the Disability Confident Scheme, and will offer an interview to disabled candidates who meet the minimum criteria for the role. If you would like to receive any information in a different way or would like us to do anything differently to help you apply for our roles, please contact our Recruitment Helpdesk:

Email: hsbc.recruitment@hsbc.com

Telephone: +44 2078328500.

Within the workplace you will have access to various employee resource groups which aim to promote and achieve a healthy work / life balance and support our diversity ambitions. HSBC has processes in place to avoid nepotism. This means we will avoid circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.”

Enhanced Vetting

Within HSBC certain roles are designated as Enhanced Vetting Roles. For these roles, all internal and external applicants are required (subject to local laws), to pass satisfactorily a series of additional checks both as part of the application process and, if successfully recruited into the Enhanced Vetting role, on an on-going basis. The Group reserves its position with regard to any steps which it may take in relation to any material adverse findings which arise either when the checks are first carried out as part of this recruitment exercise, and/or if relevant, on an on-going basis.

This role has been designated as an Enhanced Vetting Role.