Senior ServCo Regulatory Manager

Why join us?

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 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. 

As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.

HSBC has established a set of service companies or "ServCos", collectively referred to as the 'ServCo Group' to ensure the proper structure is in place to support recovery and resolution, Operational Continuity in Resolution and UK ring-fencing rules. The ServCo Group bills c$18bn revenue and employs over 100,000 people globally. The ServCo Group provide c600 services from Global Functions and Global Businesses to the Operating Banks. 

Role Overview:

The Group Chief Operating Officer is the accountable executive for HSBC's continued access to Financial Markets Infrastructure (FMI) and Operational Continuity in Resolution (OCIR) regulations.

Day-to-day responsibilities for individual capabilities that underpin access to FMIs and OCIR have been delegated to the Managing Director, Global ServCo, who is supported by the Senior ServCo Regulatory Manager.

This role is to support the Senior ServCo Regulatory Manager and Managing Director, Global ServCo in discharging oversight of access to FMI and OCIR in key entities.

What you'll do:

The successful candidate will be expected to do the following:

Support the on-going compliance with the OCIR and FMI regulations:

• Ensure OCIR and FMI capabilities are fit for purpose and continue to meet regulatory requirements.
• Provide oversight of and lead business as usual (BAU) processes across different teams.
• Deliver the OCIR and FMI chapters of the Resolvability Assessment Framework Self-Assessment.
• Manage the control environment that underpin OCIR and FMI capabilities.
• Coordinate and input to the updating of key FMI and OCIR artefacts such as Operating Models, playbooks, and operating procedures.
• Ensure robust testing of capabilities is undertaken and that material enhancements are identified and implemented.
• Work with the 2nd Line of Defense to review submission of materials, closure of BAU activities and updates to OCIR and FMI documentation.

Work with the Senior ServCo Regulatory Manager on the adoption of new regulation across the global landscape:

• When new regulatory requirements are published, impact assess the changes needed and deliver the remediation to uplift the group OCIR and FMI capabilities. This includes 2nd Line of Defense engagement to ensure proposed actions address regulatory outcomes.
• Conduct a quality assurance of submissions to regulators where OCIR and FMI is referenced.

Collaborate with Recovery and Resolution Planning (RRP) Office:

• Work with RRP Office to ensure submissions are completed as required.
• Ensure RRP artefacts are updated on a regular basis: communication plans, playbooks, gap analysis.

Lead key governance activities: 

• Enhance governance to ensure adequate oversight of discharged responsibilities.
• Support the Senior ServCo Regulatory Manager in chairing the monthly Continuity of Access to FMI Management Committee (ManCo) and OCIR and FMI Oversight Committee, through creation of governance materials and presenting to key stakeholders.

What you will need to succeed in the role:

Qualifications:

• Bachelor's degree in finance, business, economics or related field
• 3+ years' experience as in finance, regulation, or risk.

Skills and Experience:

• Excellent written and verbal communication skills, with exceptional stakeholder management capabilities.
• Excellent project management skills including the ability to organize, plan, prioritise and manage a book of work and clearly track progress, decisions and outcomes.
• Excellent business analysis skills, and comfortable with handling qualitative and quantitate data sets.
• Experience in impact assessing new regulatory rules and regimes including the ability to understand and break down regulations into practical business requirements.
• Knowledge of recovery and resolution planning policy, operational continuity in resolution and continuity of access to FMI requirements.
• Experience managing regulatory change programmes, coordinating with business units and ensuring consistent implementation. Setting up tracking mechanisms and governance to manage deadlines and deliverables.
• Experience in producing documentation to share with regulators e.g. responses to consultation papers, or regulatory reporting updates.
• Experience maintaining and embedding control environments including maintaining an audit trail for regulatory inquiries.
• Experience in working across different lines of business and functions.
• Experience in test design, execution and associated due diligence.