Assistant Vice President (AVP), RCR - Controls Assurance, RCAS GSC’s

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HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 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 realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of AVP, RCR - Controls Assurance, RCAS GSC at Hyderabad, Kolkata, Gurgaon

Why join us

Role Purpose

• The Group's Risk Management Framework (RMF) requires independent Second Line Assurance of the management of material risks and controls across HSBC's non-financial and financial risk taxonomies. The RCAS function provides a significant proportion of this assurance.
• Via its industry-leading centres of excellence, RCAS delivers innovative assurance solutions for and on behalf of HSBC's Risk Stewards and peer assurance teams.
• Controls Assurance (CA) reports into RCAS and is responsible for assuring the risk management of critical business processes and specified non-financial and financial risks across the Group, principally by testing mitigating controls. This is achieved by building out a centralised offshore capability that will deliver agile, insightful, and cost-efficient assurance. CA also provides a resource augmentation service to other assurance teams within the Bank, becoming a vehicle to effectively manage assurance costs and resources. Also, CA works together with the RCAS Automation and Analytics team to develop, test and deploy their Continuous Assurance objectives.

CA provides assurance across various Non-Financial and Financial Risks within all HSBC territories and divisions. These include, to differing extents, Operational and Resilience Risk (ORR), Model Risk, Wholesale Credit Risk (WCR), Retail Credit Risk (RCR), Insurance Risk, Financial Crime Risk (FCR) and Regulatory Compliance (RC) Risk. Specifically, CA has a mandate to provide the following key assurance services:

• Process-led assurance - assuring the design, operation, recording and monitoring of key controls and expected risk management outcomes within agreed critical business services across the Group
• Risk-based cyclical assurance - assuring the above for specific risk taxonomies
• Entity Control assurance - assuring the design, operation, recording and monitoring of key controls designated by entity-level reporting frameworks across the Group (e.g., SOX, ELCs)
• Resource augmentation - Temporarily providing staff to non-RCAS assurance teams to support their assurance activities
• Work in alignment to the Integrated Assurance Framework (IAF)
• CA is principally comprised of Control Testing Utilities (CTUs) executing this assurance work. These CTUs are principally based in Global Service Centres within India, China and Poland, and are staffed with assurance specialists with expertise across the range of risks being covered.
• This role will report into the VP of Controls Assurance, RCAS (GSC Country location name) and will be responsible for delivering assessments of key control activities of RCR areas, in accordance with CA procedures and the assessment plan.
• The role holder will be required to support the VP, CA (GSC CTU Location Name) in leading or working with a team to assess the effectiveness of assigned controls relating to the RCR in identifying and raising issues where control gaps lead to material unaddressed risks.

At a high level, the role holder will be responsible for the following:

• Customise and localise standard test scripts and then evaluate assigned controls for design and operating effectiveness, raise issues as appropriate.
• Ensure that assigned control assessments are accurate, effective, abide by RCAS & CA procedures and templates, and meet quality control requirements.
• Ensure that assigned control assessments are delivered on time, in accordance with the CA assessment plan.
• Supervise the delivery of assigned control assessments using experience and knowledge to intervene and redirect testing as required, resolving, or redirecting escalations as required.
• Manage control owners and other stakeholders, ensuring the success of each assigned reviews, minimising contention where possible and requesting support, where deemed necessary.
• Manage the documentation of distinct control types, covering key aspects, such as remit, main processes, and handovers to other teams.
• Ensure that issue owners complete sufficient root cause analysis for all material issues and have appropriate remediation plans in place.
• Develop and motivate the CA Managers through coaching and on-the-job training, ensuring the successful delivery of assigned control assessments.
• Support the VPs of the CA (location name) in fulfilling their CA responsibilities as required, including resource augmentation, planning forthcoming reviews, drafting issues, contributing to the development of procedures and templates.

What you'll do:

Principal Accountabilities:Key activities and decision-making areas

Impact on the Business

• Lead a team of CA Managers in executing the CA assessment plan, ensuring the accurate, efficient, and timely completion of independent control assessments for controls associated with RCR as required by the function.
• Oversee the quality of work delivered by the CA Managers and ensure compliance with CA and RCAS templates, procedures, and quality requirements.
• Understand and document the remit, process composition and team handovers of relevant controls.
• Proactively monitor the portfolio of assigned and relevant risks to identify key emerging trends and themes to inform the CA assessment plan and the continuous development of CA & RCAS methodology and procedures.

Typical Targets and Measures

• Execution and delivery of a portfolio of control assessments.
• Accurate, timely and reliable testing of controls associated with RCR.
• Drive a consistent approach to CA testing activities across RCR themes outlined by the function, in accordance with standardised procedures.
• Meeting agreed regulatory deadlines and targets.
• Support the production of high-quality management information (MI) covering CA activities.
• Increased utilisation of automation and analytics across all CA assessments.

Customers / Stakeholders

• Build strong relationships with all internal stakeholders, adopting a joined-up approach to the execution of tasks with minimum conflict, while ensuring the independence of CA.
• Ensure that executive and senior management in the business, functions and Compliance are advised of matters arising, and emerging trends, from assurance reviews and analysis.
• Provide stakeholders with insight into CA activities.
• Support the VP of the CA (location) in liaising with both First Line CCO teams and Internal Audit in line with the Integrated Assurance Framework to ensure that assurance activities and plans take full consideration of First and Third Line Assurance and inform audit activity.

Typical Targets and Measures

• Effective stakeholder management, ensuring constructive assessment outcomes.
• Facilitate regular meetings with stakeholders and senior management.
• Outputs (presentation decks, papers, reports, and guidance for the function) are clear, accurate and concise.

Leadership & Teamwork

• Provide timely and clear guidance and support to CA Managers on review basis.
• Contribute to the production of high-quality CA deliverables.
• Set the highest standards through personal behaviour, interaction with others and in the expectations set for CA.
• Embrace a high-performance culture through effective proactive engagement and collaboration.
• Ensure effective communication across CA, delivering key messages and strategic updates as appropriate.

Typical Targets and Measures

• Drive a high-performance culture through attendance at team meetings and 1:1s with line manager and direct reports (where applicable).
• Maintain personal objectives set consistently across day-to-day activities.
• Layered approach to interactions with teams, sharing best practices and highlighting issues across the RCR and other relevant functions, as appropriate.

Operating Effectiveness & Control

• Contribute to the development of CA procedures and templates, in collaboration with Controls Assurance Coordinator (CAC), Professional Practices (PP), Automation and Analytics and relevant SMEs, ensuring high operating standards within the division.
• Provide support on any ad-hoc projects and assessments as requested by the VP/AVP.
• Drive high operational standards within the team and avoid high-risk findings from Internal Audit or other internal/external Assurance teams.
• Be innovative in executing all responsibilities and providing solutions to complex issues in a dynamic, high-risk environment.
• Support the VPs and the Head of CA (location) in meeting the requirements of the sub-division.

Typical Targets and Measures

• Observation of line manager and feedback from key stakeholders.
• No high-risk issues from Internal Audit reviews directly relating to CA.
• Delivery of assurance activities as per the agreed plan and review notifications.

Major Challenges

Lead a team of CA managers where applicable through reviews and deliver assigned control assessments to the highest standard in a designated timeframe.

• Understand the demands of the regulators, external bodies and governmental initiatives and the Group's shareholders and customers, as well as the complexity of financial services regulation and the diversity of business and geographies within the Group as a whole, taking these into account when configuring test scripts.
• Determine innovate ways of testing controls in a precise and efficient manner, harnessing analysis of data where possible.
• Be attuned to the political, management, operational, regulatory, and reputational implications of decisions and courses of action. Managing the demands of the multiple and diverse aspects of the role.
• Assist management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks.

Role Context

• The role holder will be required to lead on assigned control assessments, potentially covering all business lines, functions, and geographies.
• The role holder will be required to provide clear and pragmatic guidance to the testing specialists.
• The role holder will support the VP and Head of the CA (location) in ensuring that the CA assessment plan is executed as assigned, meeting HSBC risk management requirements and regulatory expectations, providing risk stewards, control owners and senior management with up-to-date information regarding standards of compliance with financial crime and regulatory compliance rules within the organisation.
• The role holder is required to work with considerable autonomy, dealing with issues for which there is no obvious solution while still being able to provide judgment and clear direction.
• The role holder is responsible for ensuring that the assurance standards in the division are in accordance with the CA guidance, Group Standards Manual and Functional Instruction Manual (FIM).

Management of Risk

• Be acutely aware of the operational risks associated with business activities, considering changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• The role holder is responsible for ensuring that the testing specialists operate in accordance with CA standards.

Observation of Internal Controls

• Maintains HSBC internal control standards, including timely implementation of internal and external audit actions together with any issues raised by external regulators.
• To assist in the discharge of accountabilities set out in the relevant FIMs by proactively assisting Risk Stewards and Control Owners in their responsibilities.

What you will need to succeed in the role:

Knowledge & Experience / Qualifications

• Minimum of 5 years proven experience in assurance, audit, compliance or risk management within financial services or other major industries.
• A good understanding of risk management of Credit Cards and Unsecured Personal Lending Portfolios
• Awareness on Retail Forbearance and Distressed Restructuring
• A good understanding of Residential Mortgages, Reverse Mortgages and Collaterals
• An understanding of Financial Statements, Credit Reports
• Awareness of Expected Credit Losses (ECL), Impairment and Allowances quantification and assessment concepts (Under IFRS9)
• Awareness of risk models applied to products such as credit cards, overdraft facilities and mortgage
• Minimum Bachelor's degree in related field such as business, finance, law, or equivalent experience Master's in Finance or equivalent / Chartered Accountant preferred.
• Proven organisational, planning, interpersonal, managerial, analytical, problem-solving, decision-making, and team building skills.
• Ability to manage conflicting priorities effectively and proven ability to meet challenging deadlines.
• Experience working with local and regional stakeholders and an understanding of global standards of quality.
• Ability to work with different cultural groups and build consensus.
• Requires understanding of the changing regulatory landscape regarding compliance functions within the banking industry.
• Ability to exercise discretion, work independently within broad guidelines, tactfully handle sensitive and confidential data and complete assignments timely.
• Experience utilising assurance automation and analytics tools preferred.
• Fluent in both oral and written English.
• Proficient with Microsoft Office.

You'll achieve more at HSBC

HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.

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