This position assists the US Legal Risk team to fulfill its responsibilities as second-line of defense for the US Legal Department, using the global operational risk framework to provide guidance to senior management in the legal department on their efforts to control advice over legal risk in their respective business lines, including risk assessment, risk monitoring, control identification, mitigation, and Operational Risk governance.
Monitors the management of a business line's operational risk process through interaction with management, data analysis, production of routine and ad hoc reports and end-user database support. Actively supports businesses in their management of operational risk through the course of risk assessment, monitoring, control identification, mitigation and measurement. Ensures timely and proper attention is paid to operational risk issues in order to minimize potential losses. Delivers training programs upon request for all levels of business partners. Liaises with other business support areas to facilitate operational risk identification and ownership.
Impact on the Business
Provides expertise, guidance, and oversight and support of strategic initiatives driven by the Legal function to proactively manage legal risk.
Partners with other members of US Legal and Senior Management to proactively drive change within the Legal function and businesses, as appropriate, based on review findings.
Provides analysis and input on all relevant business risk and control monitoring plans. Ensures that the controls and plans are properly executed within the respective business line.
Provides review and analysis of Group Legal FIM (Functional Instructional Manual) to ensure business policies and procedures are in compliance with Group requirements.
Develops and analyzes relevant business risk dashboards, risk maps, and commentary.
Maintains positive relationships with businesses, acting as a consultant where needed in order to properly aid in the mitigation and control of risk. Aids in the identification and assessment of operational risk throughout the business line with an eye toward recognizing opportunities to reduce risk.
Customers / Stakeholders
Builds strong relationships with all internal stakeholders, adopting a joined-up approach to the execution of tasks with minimum conflict, while ensuring the independence of the Legal function.
Supports Legal management in building and maintaining positive and professional relationships with key external stakeholders.
Works collaboratively across the Legal function and peer group.
Supports Legal management in the communication of matters arising, and emerging trends, from assurance reviews and analysis to executive and senior management in the business, functions and Legal.
Provides internal stakeholders with insight into Legal activities.
Supports Legal management in the effective planning of assurance activities to ensure plans take full consideration of and inform audit activity.
Leadership & Teamwork
Trains employees in operational risk disciplines (risk identification and assessment, loss reporting, key risk indicator creation and reporting, controls, etc.).
Demonstrates strong teamwork, organization, complex problem resolution and initiative.
Displays sound judgment, a keen sense of urgency, and a high level of professional and personal integrity.
Promotes an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
Undertakes a monitoring/oversight role in respect of the management of risk within the Legal function and an oversight role in respect of legal risks in the businesses, functions and HOST across the US region.
Acts as an SME for business lawyers for all risk management requirements under the ORMF (Operational Risk Management Framework).
Provides RCA Lead Lawyers with guidance regarding legal risk advice within their business unit, including risk assessments, risk and control monitoring, and control identification and mitigation.
Initiates periodic RCA oversight/quality assurance reviews with business lawyers and relevant business BRCMs.
Ensures changes are made in the business/function RCAs as a result of quality assurance reviews, changes in Legal FIM requirements, and/or trigger events.
Monitors the management of business-owned issues and actions related to legal risks and controls, and assists in the identification and documentation of root causes, timely remediation of actions, management reporting, and escalation as necessary.
Assists in setting proper key indicators (KIs) with relevant stakeholders and monitors KI results.
Performs review and analysis of monthly litigation loss reports, providing appropriate Operational Risk Taxonomy categories to business-owned losses.
Assists RCA Lead Lawyers with the preparation and review of monthly Risk Map reporting for each of the business lines.
Creates and manages routine and ad hoc Op Risk reports to support monitoring and control of legal risks.
Produces operational risk reporting for management and various forums and supports reporting for executive committees.
Is a point of contact for the Legal BRCM to ensure that the ORMF is properly embedded in the Legal function and that controls to manage legal risks as second line are properly described and monitored.
Performs themed reviews on the first line of defense.
Provides operational risk training to the Legal Department as needed.
Manages a centralized repository for data and documents required in conjunction with Internal Audits or second line assurance reviews.
Working with colleagues and governance bodies across multiple business lines at the local (business line), regional (HNAH), and global (Group) level.
Understands the continually changing nature of Operational Risk within the Financial Services Industry. While initially regulatory driven, there are many benefits of good operational risk programs (ex., lowered loss expenses linked to better controls resulting from Op Risk assessments, positive regulator reviews, predictive measures highlighting potential areas of concern, etc.) that this role has the opportunity to directly impact in a positive way.
Builds strong relationships and has a good understanding of HSBC Business Groups and the interdependence with Legal, which is critical to properly assessing the inherent risks involved.
The amount of supervision required for this position is independent. Incumbents are expected to proactively work within overall guidelines and timeframes set forth. The position is somewhat autonomous.
Management of Risk
Awareness of operational risks, primarily through the identification and management of legal risks associated with business units.
The role holder will also be required to continually reassess the operational risks associated within the relevant LoB, taking into account changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
Ensures compliance with the ORMF and operational risk controls in accordance with HSBC, the Legal FIM, regulatory standards and policies, and other Group policies.
Adheres to HNAH's Statement of Business Principles and Code of Ethics.
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.
Assists in the discharge of accountabilities set out in the Legal FIM by proactively assisting Risk Stewards and Control Owners in their responsibilities.
Internal Number: 739136
HSBC was born from one small idea: a local bank serving international needs. We started our business in Hong Kong in 1865. In 2015, HSBC celebrates its 150th year anniversary. Over the years, HSBC grew through expanding its branch network, offering new products and establishing its own investment banking arm.
We aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people fulfill their hopes and realize their ambitions.
• Located in 72 countries and territories
• Serving around 48 million customers
• Supported by over 268,000* people
• Head office in US is New York City
We aim to be dependable, open and connected in everything we do. We want to ensure that our employees feel able to stand up for what is right, highlight potential risks and act with integrity, even when faced with pressure to act otherwise. By doing so, we will be able to meet expectations of society, customers, regulators and investors. To make sure everybody at HSBC lives up to these values, they are a part of everyone's annual performance review.
At HSBC, you will find that we are dependable, o...pen to different ideas and cultures, and connected to customers, communities, regulators and each other. Our culture has a family feel to it – our employees are encouraged to work together to reach a common goal. This idea is supported and encouraged at the leadership level and passed down.
Our size and global reach mean more opportunities for you to grow your career with us.
We are looking for forward-thinking, driven, perceptive candidates to help our customers realise their hopes, dreams and ambitions.
This means people who are dependable, open to different ideas and cultures, and enjoy being part of a team; people who have the potential to become the future leaders of HSBC.
We encourage you to drive your own development and build your network within your office and around the world.
We provide the opportunities for you to connect with customers, colleagues and the communities in which we operate.