Avp - Insurance Advisory (Regulatory Compliance)

2 weeks ago

Bengaluru, India HSBC Full time

-Job description

**Description - External**

**Some careers shine brighter than others.**

If you’re looking for a career that will help you stand out, join HSBC and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC is one of the largest banking and financial services organizations in the world, with operations in 62 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realize their ambitions.

**We are currently seeking an experienced professional to join our team in the role**: AVP - Insurance advisory (Regulatory Compliance), GSC**

**Why join us?**

The Compliance function is a Second line of defence (LOD) function, responsible for reviewing and challenging the activities of the Group’s businesses (also referred to as “the First LOD”) to ensure that they effectively manage as “Risk Owners” the Regulatory and Financial Crime Compliance risks inherent in or arising from the conduct of their activities and for which they are responsible. The Second LOD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LOD. The Compliance function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group’s risk framework.

The role will involve regular interaction with stakeholders in first and second line of defence.

**The Opportunity**:
The following principal accountabilities are aligned to the Compliance Services Model:

- Provide risk stewardship support to the in-country Insurance (Regulatory Compliance) team leads to discharge risk stewardship responsibilities.
- Maintain and develop positive and professional working relationships with in-country Insurance (Regulatory Compliance) colleagues and Line of Business (LOB) stakeholders such as the various CCO teams from the Businesses.
- Create a framework for the effective risk-based monitoring of the implementation of Insurance (Financial Crime Compliance) risks related policies and controls.

**What you’ll do**

The responsibilites of the CoE team will be to assist the in-country Insurance (Regulatory Compliance) team leads in multiple activities including those listed below:

- Initial preparatory work to support submission of Compliance papers and reports for governance forums (such as co-ordinate with business for their inputs on CRF paper, follow up with business on progress of incidents, RCA matters, regulatory/ FIM implementation progress, etc)
- Follow up with business subsequent to regulatory dissemination in terms of gap analysis coordination with various stakeholders, update RAPID2 and Reg Map (admin, extract, format)
- Continuous monitoring oversight initial assessment on sample by RS on CMA
- Directly co-ordinate with business/ CCO team for Compliance NFRO DQ report
- Follow-up and update of progress of items within Compliance training plan, assist with any preparatory work for training deck/ content for trainings conducted by Compliance
- Trigger initial management for any NFRO or RCA requests from region/ audit/ reviews, including internal and external event, overdue response from business on RaC raised by CMP and directly coordinating with business for same
- Manage and liaise with business on process on annual entity licensing
- Follow up and engage business on progress of remedial actions and update progress in IRIS
- Initial preparatory work and check against point of sale/ disclosure document checklist (product material review)
Requirements

**What you will need to succeed in the role**:

- Experience in insurance advisory, banking or with regulated entities handling advisory, assessment of regulations, handling MI and reporting, conducting reviews and gap analysis.
- Strong understanding of Risk and Compliance function with good knowledge of the insurance/banking regulatory environment.
- Good understanding of the relevant rules and all other relevant legislation and guidance, particularly those relevant to insurance business
- Proven analytical skills, together with the ability to support decisions with sound reasoning.
- Excellent communication, solution oriented and inter-personal skills, with experience of dealing with executives at all levels.
- Proven team player with an open communication style.
- Excellent verbal and written communication skills.
- Strong command of English required.
- Ability to work under pressure and within tight timelines.
- Ability to

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