Chief Control Officer, Hong Kong - HSBC Insurance

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HSBC Insurance provides a comprehensive range of life products and services to suit every possible need of our personal, commercial, corporate, institutional and private banking customers. As a leader in new life insurance business the business serves this diverse client portfolio through a wide network of banking, consumer finance and insurance subsidiaries throughout the Asia-Pacific region

We are currently seeking an experienced professional to join our team in the role of Chief Control Officer, Hong Kong – HSBC Insurance.

Principal responsibilities

The HK Insurance Chief Control Officer is responsible for building and enhancing the end-to-end risk and control environment in the HK Insurance business, including the Macau Branch of HSBC Life HK. This role has an additional responsibility to oversee Financial Crime Risk for Insurance markets globally. This is achieved by:

• Raising awareness and understanding of risks, controls and embedding First Line Of Defence (FLOD) risk management frameworks and partnering effectively with the Risk owners
• Enforcing robust risk governance and ensuring stakeholders, including HK Insurance Exco and Board, have visibility of key risks and remediation activity via the NFRMF, RMM and Audit/Risk committees of the board by either chairing, supporting and/or sharing high quality content for management to take prompt action
• Developing effective risk indicators to manage HK Insurance's risk profile and tracking, monitoring the same
• Conducting high quality and efficient reviews of control performance, and facilitating control remediation where required, including periodical thematic reviews
• Overseeing all BAU Risk programmes including FATCA, CRS, Global Standards, ORTP, CDD, SOX and supporting other specialised programs like IFRS17, RBC etc. that are driven by Finance / Actuarial teams from an operational risk/NFR perspective.
• Supporting the 2LOD teams across Risk and Compliance in managing regulatory and other internal global stakeholders effectively and efficiently.
• Creating a fit for purpose model that supports Financial Crime Risk management for multiple markets by standardizing processes, MI and governance.
• Overseeing the Compliance and Regulatory SVS to ensure key C&R initiatives are delivered
• Managing a strong and independent team that specializes in various risk typologies/areas and providing steer/guidance and creating synergies across the team

The role holder coordinates activity across HK Insurance to drives implementation of a consistent and effective approach to end-to-end risk management. The CCO has direct responsibility for non-financial risk within Insurance, in conjunction with respective risk owners, to provide holistic first line risk management within the Insurance Business.

The HK Insurance CCO leads and manages FLOD business teams managing Business Risk and Control Management and Business Standards (covering Financial Crime, Regulatory Compliance, Conduct and Third Party Risk Management) framework delivery.

The CCO role is particularly critical in the context of increased internal, as well as external attention to identify, measure, evaluate, control and manage risk effectively. The role holder supports the safe growth of HK Insurance by ensuring business activities align to the HK Insurance Risk Appetite and consistently challenging senior leaders to avoid unintentional introduction of risk.

The role holder is responsible to ensuring appropriate risk reporting and governance is embedded within the HK Insurance business, and is required to write papers for use of regulators, auditors and external bodies as required.

They are a senior HK Insurance management representative, attending Global and Local governance forums and committees.

Requirements

• Good understanding of Insurance and/or Retail Wealth (WPB/GPB) business preferred in order to be effective in this complicated, yet critical and highly profitable and growing business in one of the key markets of the Group
• Previous experience in Risk Management within a global organisation, working across cultures.
• Ability to present complex issues confidently and concisely to Executive leadership team and Regulators, using simple language and accommodating globally distributed stakeholders.
• Comprehensive knowledge of the external environment (risk, regulatory, political, competitors etc.) and preferably HSBC framework to manage risks
• Outstanding relationship management, collaboration and influencing skills with experience of positive, challenging interactions with senior executives across multiple functions.

Opening up a world of opportunity
http://www.hsbc.com/careers

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Issued by The Hongkong and Shanghai Banking Corporation Limited.