Vice President AML and Sanctions Philippines

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Our sector-focused Banking relationship managers provide a single coverage point for multi-national clients. With our global capabilities and footprint, vast expertise and local knowledge, our Banking teams connect clients to the products and services that meet their global financial needs.

We are currently seeking a high caliber professional to join our team as an Manager, AML and Sanctions Philippines (Internal Title), Vice President, AML and Sanctions Philippines (External Title) (GCB 5).

Role Purpose

Financial Crime (FC) is a Second Line of Defence (also referred to as "SLoD") function responsible for setting risk appetite and writing policy, providing oversight, guidance, support and reviews and challenges the activities of the Group's businesses (also referred to as "FLoD") to ensure that they effectively manage as "Risk Owners" and "Control Owners" the Financial Crime Compliance risks inherent in or arising from the conduct of their activities for which they are responsible. The SLoD consists of "Risk Stewards" who are independent of the commercial risk-taking activities undertaken by the FLoD. The Financial Crime function is a Risk Steward for a number of non-financial risks in accordance with HSBC Group's risk framework.

The Manager, Anti-Money Laundering and Sanctions Philippines, is a key strategic risk steward role that has a broad remit and responsibilities for providing oversight, guidance, and managemetn of all aspects of AML and Sanctions risks. The role holder is required to assist the Head of Financial Crime (HoFC) and Chief Risk and Compliance Officer (CRCO) to execute their obligations for all activities in the Country relating to financial crime.

Primary roles & responsibilities relevant for the AML and Sanctions Manager role:

(1) Policy Management Office

• Manage the implementation and embedding of FCR FIM (including review of variances, dispensations and deviations). Review, articulate, and drive implementation of core FC Policies, including GSM and FIM.
• Stay at the forefront of key regulatory, industry developments and HSBC Group Policy changes to ensure proactive communication with business and implement appropriate group policy and framework to manage the changes. This includes and is not limited to Regulatory Engagements for clarifications, inquiries, and lobbying for changes in the regulations.

• Support the Head of Financial Crime (HoFC) and Chief Risk and Compliance Officer (CRCO) in identifying and managing new and emerging financial crime risks, and providing inputs and challenge to CEO scorecards.
• Review, analyse and provide commentary on key risk/governance papers.
• In collaboration with other teams within Risk and Compliance, develop and maintain the risk steward view of the effectiveness of the financial crime risk framework and ensure that this view is communicated consistently to relevant risk governance meetings.
• Own and maintain the country Risk Appetite metrics and Taxonomy for FC Risks, including but not limited to AML, Sanctions and AB&C.
• Coordinate and deliver the Enterprise Wide Risk Assessment (EWRA) for FC Risks, including but not limited to ABC, AML and Sanctions risks.
• Collaborate with Risk and Control Assurance Teams as well as Group Internal Audit on the definition and implementation of appropriate monitoring and testing plans.
• Providing input to Training and Certification curriculums as well as conducting trainings as a Subject Matter Expert as and when requested by Lines of Businesses.

Impact on the Business

• Drive delivery of objectives in line with organisational strategy - implement communications strategy, for standards, systems and policies, regarding AML and Sanctions topics
• Identify, assess, oversee and communicate all requirements relating to AML and Sanctions regulatory guidance and law enforcement trends regarding HSBC's business activities.
• Implement criteria for integration and analysis of suspicious activity surveillance and reporting results, escalation of analysis and events.
• Ensure that the Group's exposure to regulatory and reputational risks, current and emerging risks relating to AML and Sanctions are managed at a country level, in a commercially sensible, practical and cost effective manner.
• Manage and lead the required remedial action of all pertinent material AML and Sanctions issues that arise to ensure effective implementation, through internal and external reviews.
• Drive and deliver training on AML and Sanctions risks for all business products, services and functions as required and when requested
• Oversight of implementation of Policy at a Country level within FLoD, and management of Policy implementation for SLoD including Policy changes.
• Conduct gap analysis and implementation of updates or changes upon release of AML or Sanctions related local regulatory developments. This includes ensuring proper tracking in the Regulatory Development System and oversight on implementation of operational updates of Lines of Businesses and Functions.
• Implement and adhere to the standards set at a Global level for AML and Sanctions related records retention policy, complying with any local data regulation as required.
• Maintain a record of all Service Level Agreements (SLAs) pertaining to outsourced Sanctions activities or non- mandated screening systems for Country, ensuring all SLAs are fully compliant with Policy.

• Lead/liaise with relevant stakeholders within Global FC, Regional FC, and Country FC teams to provide expertise and support on all Regional level FC related matters.
• Support Head of Financial Crime (HoFC), Chief Risk and Compliance Officer (CRCO) and the management as required in the provision of reports to various committees (and, as necessary, regulators) on AML and Sanctions issues.
• Work effectively with principal regulators (regulatory environment) and industry bodies (industry developments) on FC AML and Sanctions matters. Fulfill and execute required Country level regulatory engagement, and all reporting (internal and external) activities, including Identifying and responding to external local Country trends and regulatory requirements which have a Country impact through the inception of Country changes to BAU.
• Lead / liaison with relevant stakeholder within Global Business and Country teams to provide expertise and support on all FC AML and Sanctions related matters.
• Work collegiately with Risk and Control Assurance and Group Internal Audit to ensure effective deployment of agreed Regional audit strategies, providing Regional/Country support as necessary.

• Develop, deliver, lead and be accountable for the strategy for the AML and Sanctions Function.
• Coordinate between FC, GBs, Risk, Technology, Internal Audit, and Legal, and others as appropriate.
• Maintain and develop positive and professional working relationships with senior business managers at the Regional and Country levels.
• Work as a key member of the FC team within Country to drive and accelerate the embedding of the FC change programme within Country.
• Governance and oversight of outsourced processes including Name Screening, Transaction Screening

• Provide solutions to complex issues/initiatives in an ever changing, risk environment.
• Conduct appropriate Continuous Monitoring Activity Oversight as required.
• Maintain awareness of Operational Risk within assigned portfolio and minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting.
• Maintain and observe all HSBC control standards and implement and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and relevant external Regulators.
• Ensure all Country DIMs and supplements are updated as necessary following changes in Policy.

• Seasoned professional with experience in one or more senior Risk and Compliance roles in the financial services industry
• Extensive knowledge of AML and Sanctions regulations and guidance.
• Candidates would ideally have an extensive knowledge of the HSBC Group structure, its business and personnel, and a deep understanding of HSBC's corporate culture.
• Lateral thinker with an ability to interpret and solve complex issues.
• Proven/Excellent leadership skills/ability to matrix manage.
• Excellent communicator with strong inter-personal and influencing skills.
• Ability to lead change, contributing to joining up with the other teams in Risk and Business at Country / Regional level.
• Experience of dealing with regulatory matters and confident interaction with Regulators.
• Ability to develop practical, cost-effective solutions to complex issues.

You'll achieve more when you join HSBC.

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Issued by The Hongkong and Shanghai Banking Corporation Limited.

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