Analyst Regulatory Compliance Retail Bank Wealth Management HSBC Investment Funds Canada Inc.
Employment Type: Regular
The position directly supports and reports to the Chief Compliance Officer (CCO) for the HSBC Investment Funds Canada Inc. (HIFC), within HSBC Bank Canada. HIFC is mutual dealer that operates within the Retail Bank Wealth Management (RBWM) function at HSBC Bank Canada.
The position principally works with the HIFC Senior Managers and Managers to maintain adherence to HSBC Group internal policies, MFDA and other local regulatory requirements. From time to time, the position will require participation in projects, where necessary, to work with key business stakeholders, other compliance staff, legal and risk/internal control groups.
Impact on the Business
- Ensure ongoing compliance with MFDA rules and other applicable regulations by conducting tier 2 daily trade reviews, quarterly account activity reviews, and monitoring HIFC branch activities
- Act as primary compliance contact for branches regarding day to day HIFC activities.
- Participate in special compliance projects and training to branch staff, as required.
- Provide support to assigned areas on compliance-related issues, including trade reviews, account opening and registration matters.
- Maintain awareness of major regulatory changes affecting HIFC and work with management to develop policies and procedures
- Identify and report all significant regulatory compliance breaches or gaps
- Work within the internal policies and procedures and have awareness of local regulatory rules.
Customers / Stakeholders
- Discharge the accountabilities set out in the HIFC Head Office Compliance Procedures Manual by monitoring, reporting, and fostering a compliance culture.
- Maintain positive relationships with branch staff and support sales staff by acting as SME when necessary.
Leadership & Teamwork
- Abide by human resources and other HSBC policies in support of an ethical and respectful work environment.
- Promote an environment that supports diversity and reflects the HSBC brand.
Operational Effectiveness & Control
- Monitor activities of HIFC to ensure compliance with applicable internal policies and procedures (FIMs) and external regulations.
- Monitor and track regulatory bulletins and updates ensure the CCO is aware and assigns risk assessment responsibilities to the team.
- Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
- Complete other responsibilities, as assigned.
- Applying compliance; internal and operational risk controls in accordance with HSBC or regulatory standards and policies; report issues and operational loss events.
- Provides direct support to AVP & Director Corporate Compliance, HIFC CCO and HIFC Senior Managers, RC RBWM
- Satisfy MFDA Policy 2 requirements for Account Supervision.
- Act as a compliance subject matter expert (SME) to the business and ensure adherence to applicable regulations.
- Develop and maintain trending analysis and KIâ??s.
- Report on HIFC activities to assist the HIFC CCO with compiling management reports for assigned areas.
- Ensure oversight of applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
- Report all material and significant breaches or potential breaches of regulations or compliance.
- Participate in special compliance projects and training efforts.
- Complete other responsibilities, as assigned.
Management of Risk
Ensure compliance of both general and anti-money laundering and anti-terrorist financing (AML/ATF) compliance controls as well as operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
Discharge the accountabilities set out in the Legal and Compliance FIM by pro-actively assisting management in identifying and containing compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators.
Observation of Internal Controls
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Minimum of 2-3 years proven audit, compliance, financial services operations and/or regulatory experience, or equivalent.
- Bachelor's degree in business, finance, accounting, law, or related field or equivalent experience.
- Mutual funds and Branch Managers Course (IFIC, ICB or CSI) is required. CFP or financial planning knowledge is considered an asset.
- Broad scope of knowledge of local securities environment, including products, operations, systems and organization.
- Experience dealing with laws, regulations and regulatory compliance requirements related to the MFDA and retail mutual fund sales will be considered an asset.
- Proficiency with personal computers and pertinent mainframe systems, software packages, Word and Excel.