Tuesday , February 27 2024

HSBC Careers In Buffalo – Compliance Officer

Website HSBC

Job Description:

As a Compliance Officer on our Financial Crime – Anti-Money Laundering (AML) and Tax Transparency Program and Policy Team, and reporting directly to the US Head of AML and Tax Transparency, you will provide risk stewardship relating to the specific financial crime threats the firm faces now and in the future, contributing to processes and frameworks that protect our business, our customers, and the many communities in which we operate, from the harms associated with financial crime. The AML and Tax Transparency Program and Policy team is responsible for oversight and risk stewardship of the AML and Tax Transparency programs at HSBC in the US. We coordinate policy and program changes across all of our businesses, liaise with our counterparts at the Global level and provide subject matter expertise to all lines of business and functions on AML and Tax Transparency issues. The team is responsible for Policy changes, serves as a thought leader in public debate regarding proposed changes in the regulatory compliance landscape, leads bank initiatives relating to new and changing AML and Tax Transparency regulatory requirements, advises businesses regarding regulatory changes, and partners with other functions within Financial Crime (FC), including Investigations, Risk and Analysis, and the Lines of Business FC teams, to support our businesses and coordinate oversight of risks and controls across the organization.

Job Responsibilities:

  • Working optimally as part of a dynamic regional team, including taking on unfamiliar/difficult tasks when needed and providing mentorship and support to others
  • Responding to requests from regulators, internal audit and compliance assurance teams relating to reviews of financial crime programs
  • Regularly presenting at Compliance and Risk governance committees and related forums, on industry developments, management of AML and Tax Transparency risks, policy changes, and related issues
  • Preparing written responses to public Notices of Proposed Rulemakings related to regulatory changes under recent legislation, advocating for proposed outcomes
  • Using metrics and management information to assess the quality of HSBC’s financial crime risk and to develop proposals for improving processes around financial crime risk management
  • Reviewing proposed new products and services and proposed improvements to existing products and services, to identify financial crime risks, provide advice to the businesses and identify proposed risk mitigants
  • Providing ad hoc papers, reports, summaries and other information at the request of US and global FC management
  • Developing and supporting a long lasting, effective team environment, to achieve mutual team and business goals
  • Developing and maintaining relationships and understanding of activities across multiple Financial Crime functions and with Global partners
  • Sharing of best practices to enhance team delivery
  • Developing and delivering training and guidance to staff on AML and Tax Transparency matters, incorporating lessons learned from internal issues as well as external events
  • Providing guidance and subject matter expertise to lines of business, functions, and other FC functional partners on matters pertaining to AML, Tax Transparency, including regulatory and policy obligations and risk appetite.
  • Leading all aspects of implementation and compliance with US and Group AML and tax transparency compliance policies
  • Drafting monthly and other periodic reports to management analyzing and assessing financial crime-related metrics and other data and summarizing regulatory trends
  • Providing Second Line of Defense oversight to lines of business FC advisory teams’ risk stewardship, overseeing the quality and timeliness of risk assessments, controls implementation, continuous monitoring, issues management and execution of other FC-related first line responsibilities
  • Preparing papers at the request of the US Head of AML and Tax Transparency to submit to various Compliance and Risk committees and forums (in the US and globally) assessing FC risks and mitigants related to products, services, customers and industry or market developments

Job Requirements:

  • Must be capable of learning and applying new or unfamiliar concepts quickly
  • Experience designing, implementing, enhancing and/or overseeing compliance programs for large complex organizations
  • Comprehensive understanding of financial crime, AML, regulatory, and reputational risk based on significant work experience
  • Experience in assessing and mitigating financial crime, reputational risk and other risks related to clients, third parties, products, services, transactions and processes
  • Experience analyzing new legislation and regulation and assessing potential impacts on compliance programs, as well as incorporating new regulatory requirements into existing processes
  • Must be able to make sound decisions and influence a wide range of stakeholders
  • Understanding of and experience assessing and managing tax evasion risks, US FATCA and/or other tax reporting regimes would be a significant plus
  • Experience presenting complex information, recommendations and risk mitigants to senior level stakeholders

Job Details:

Company: HSBC

Vacancy Type:  Full Time

Job Location: Buffalo, NY, US

Application Deadline: N/A

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