Vice President - Hyderabad City Taluka - Job Portal - dinCloud Pakistan

2 days ago Technology / Internet

Description

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Role Purpose

The Vice President of Internal Risk (VP - IR) plays a pivotal role in implementing Anti-Money Laundering (AML) policy in India. This includes providing oversight and management of AML Investigations, risk management framework, and coordination of various work streams to meet AML requirements and legislation. This role requires strong partnerships with business lines, Global Functions, and First Line of Defense (FCC) teams to drive the implementation of the Financial Crime Investigation (FCI) framework. It involves monitoring progress, tracking initiatives, and ensuring alignment with Group standards. The role holder must stay at the forefront of regulatory changes, communicate proactively with the business, and develop policies to manage changes. They will be the go-to person for work stream leads to ensure processes are coordinated and risks are addressed.

Key Responsibilities

• Collaborate with business lines and Global Functions to ensure consistent application of Investigative Reporting standards, policies, and procedures.
• Serve as the principal point of contact for internal and external stakeholders on Transaction Monitoring/Investigation risk.
• Accountable for driving effective risk mitigation through transaction monitoring and investigation function.
• Provide advice to business on risk associated with prospective products and services, and design mitigation controls and strategies.
• Intersect and represent FCC/FCI with senior business leadership.
• Alternate Principal Officer with FIU IND, managing regulatory reporting and interactions with the regulator.

Balancing complexity of regulations, diversity of business, and demands of regulators, shareholders, and customers while managing political, management, operational, regulatory, and reputational implications. Staying abreast of changing regulatory environment and maintaining consistent application of highest Risk management standards despite complexities of products and operations.

Role Context

India is an emerging economy, regulated by multiple regulators, both local and international. The Reserve Bank of India (RBI) primarily regulates the Bank's business in India, with frequent amendments and clarifications required. The Financial Intelligence Unit – India (FIU-IND) interacts closely with the banking industry, recommending implementation of risk-based frameworks and improving reporting mechanisms.

Management & Leadership of Regulatory, Compliance & Operational Risk

The jobholder ensures that FCC AML standards are maintained in accordance with the Global Standards Manual, and the AML policy aspects of the Compliance Framework Implementation Manual are effective and relevant, in conjunction with country regulations.

Observation of Internal Controls

• Maintains HSBC internal control standards, including timely implementation of internal and external audit points.
• Manages Country FCI/FCC responses to adverse Compliance metrics, including unsatisfactory FCI Reviews and Audit reports.

Role Dimensions

The jobholder supports the Country Head of AML, covering responsibilities that include supporting the implementation of the FCI framework and coordinating work streams to meet AML requirements. #J-18808-Ljbffr