17 days old

Vice President - Regulatory Oversight Manager

New York, NY 10007
  • Job Code

At HSBC, the health and well-being of our employees remains of utmost importance.  Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.


Overall Summary of the Job: Manage market and regulatory initiatives for HSBC Markets & Securities Services Operations, focusing on swaps (CFTC) and security-based swaps (SEC) rules. Ensure their implementation is in line with internal and industry targets.


Primary Responsibilities/Essential Functions:

  • Responsible for managing the delivery of regulatory operational changes for swaps and swaps-related regulations, and associated regulatory initiatives.
  • Management of governance framework and controls around Trade and Transaction reporting
  • Support the response to regulatory inquiries on behalf of operations
  • Work with Operations Regulatory Project Managers responsible for other global regulation (EMIR, HKMA, etc.), as appropriate, to ensure global compliance and process consistency where possible.
  • Ensure the firm remains a prominent member of the market by representing HSBC Operations at external forums related to relevant initiatives (for example, ISDA working groups); collecting internal views and opinions and communicating them to the market while documenting and distributing results and decisions to key internal stakeholders.
  • Organize and chair internal working groups and meetings with the global Operations teams, Compliance and other stakeholders, as appropriate, to communicate requirements, agree tasks and owners and track implementation.
  • Work closely with the global Operations, IT, Compliance, and Front Office teams to build required system changes that will ensure the firm is compliant with all regulatory mandates and industry go-lives by their various deadlines.
  • Own the global regulatory reporting inventory including performing semi-annual review for completeness and annual review of risk ratings reflected in the inventory and coordination with bank wide inventory owners
  • Work with line teams to monitor and prioritize open management self-identified issues, incident remediation and key actions to provide guidance and direction on risk mitigation
  • Maintain the primary Operations relationship with various market vendors such as ISDA, MarkitSERV, DTCC and ICE and work with them on their regulatory- and initiative-related solutions while communicating and tracking all required changes internally to ensure system and process efficiency.
  • Support coordination of external exams, participate in internal reviews and exams to negotiate findings and actions, track progress and confirm resolution
  • Coordinate with Compliance and Legal to cover relevant industry forums (e.g. ISDA, SIFMA, AFME) and provide tailored summaries to Operations teams with respect to industry action, regulator consultations, Q&As, enforcement actions.
  • Perform targeted reviews of processing performance against regulatory obligations, minimum control standards and industry best practices and make recommendations for any actions
  • Perform other job-related duties as assigned.
  • Decision-Making Responsibility:
  • Collect internal positions and opinions, come to consensus and represent that position to management and the industry.
  • Performs according to prescribed procedures.


Management of Risk (Operational Risk / FIM requirements)

  • Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.
  • Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
  • Each employee must promote an environment that supports diversity and reflects the HSBC brand.


Observation of Internal Controls (Compliance Policy / FIM requirements)

  • Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year end performance assessments.
  • Each employee must understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.


Posted: 2022-05-02 Expires: 2022-06-01

HSBC offers the opportunity to develop a fulfilling career within a supportive and inclusive environment. We aim to be a place where everyone can achieve their full potential, regardless of their background.

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Vice President - Regulatory Oversight Manager

New York, NY 10007

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