Regulatory Operations Manager

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 Buffalo, New York office.

  • The Regulatory Operations manager manages and staffs a unit in the Banking Services Operations area. The role is responsible for all aspects of the specific unit including staffing, servicing, problem resolution, quality and risk management. Works with the bank's business risk and compliance area to ensure activities of the unit are carried out in compliance with all operational regulations and guidelines. Responsible for maintaining exceptional customer service standards, and other duties as assigned. Supervises, assists and evaluates the performance of operations staff including motivating, promoting and directing the unit to achieve goals.
  • The Regulatory Operations Manager is responsible for a set of complex operational activities, with each function established to achieve compliance with external regulations, agency or legal requests, internal policies or business standards. The position is fast paced and strategic, responsible to ensure quality, timely and accurate service in accordance with the terms of Performance Level Agreements. Services may be rendered by both on-shore and off-shore teams.
  • This position provides oversight and input into a variety of technology enhancements and ensures all administrative deliverables, either with Local or Group origins, are met for all assigned functions.
  • The position addresses and reduces risks, by identifying and clearly communicating issues and resolutions to management, and applying creative problem solving skills towards required remediation.
  • The position is responsible for the financial performance of an assigned cost center, including the development of the annual operating plan, and regular monitoring of expense levels.
  • The manager is responsible to provide effective leadership to their team members by coaching, communication, performance management, development plans, and reward/recognition practices. Oversight to ensure all required regulatory training has been taken is critical, along with confirming applicability of the content to the functions performed.
  • The role interacts on a regular basis with various internal business partners and facilitates the testing of controls performed by Group Audit, Compliance, and the Chief Control Office (CCO). The manager is responsible to ensure that all feedback received is evaluated and controls strengthened, as needed.
  • The role may also be the Subject Matter Expert for assigned processes, so must be articulate and proficient with department procedures and regulations that govern that process, in order to communicate with auditors and regulators and potentially identify Red Flags. Applicable regulations may include, but are not limited to, Anti-Money Laundering (AML), Know Your Customer (KYC), Bank Secrecy Act (BSA), The Right To Financial Privacy Act, Federal Mandate Regarding Garnishments, NYS Exempt Income Protection Act and requirements imposed by the Internal Revenue Service or State Abandoned Property agencies.
  • The manager may be required to meet with bank regulators, upon request, including representatives from the Office of the Comptroller of the Currency, U.S. Department of Treasury (i.e. Internal Revenue Service or Financial Crimes Enforcement Network), State Abandoned Property Examiners, and other regulatory agencies.


Impact on the Business

This position can be found within the following Banking Operations Teams:

Abandoned Property
  • Ensure the regulatory requirements of individual states for the escheatment of unclaimed property are met and manage technical solutions to meet those requirements.
  • Oversee all initiatives impacting Abandoned Property and / or our internal business units, identifying and escalating all critical regulatory issues to avoid adverse impact to the bank and customers.
  • Oversee analysis of data to provide relevant information to business units and senior management for issue resolution and risk control.
  • Ensure that project requests are initiated, sponsored and assigned as required. Participate as a member of project teams when initiatives impact processes or systems.
  • Verify account closures for escheatment purposes to meet Regulatory guidelines.
  • Manage Third Party Vendors to ensure agreed upon service levels are met all and applicable Bank standards and policies are followed.
  • Ensure that all properties received after branch safe box drilling are safeguarded until auction, escheatment or customer reclamation.


Leadership & Teamwork
  • Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
  • Cultivate an environment that supports diversity and reflects the HSBC brand.
  • Recognize strengths and weaknesses of staff in order to properly assign/delegate work appropriately to benefit the department. Provide training and guidance to staff.
  • Ensure coordination of activities with other areas of the Department, Global Service Centers and Company as appropriate.
  • Resolve exceptional problems that arise.
  • Work closely with staff to meet department service levels and quality standards as well as regulatory requirements.
  • Work closely with personnel from other internal departments to respond to most complex legal documents and ensure regulatory requirements are met.
  • Consult with personnel at all levels in management of issues, projects and deliverables.
  • Recommend and manage implementation of process improvements, while maintaining or increasing customer satisfaction and reducing risk.
  • Maintain effective communication with all stakeholders in the processes performed within the department.
  • Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
  • Promote an environment that supports diversity and reflects the HSBC brand.


Operational Effectiveness & Control
  • Review processes for effectiveness and ensure they are modified as regulatory changes may periodically be received requiring system enhancement.
  • Manage department to ensure service level and quality standards are maintained, department goals are met and be in full compliance with all rules and regulations.
  • Recommend and manage implementation of efficiency and productivity improvements while not compromising service quality.
  • Ensure compliance with established internal guidelines and external regulations affecting activities of assigned section.
  • Monitor performance against plan and take corrective action as required.
  • Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
  • Ensure all appropriate customer due diligence is performed and responses processed
  • Ensure compliance with established internal guidelines and external regulations affecting assigned activities, and escalate all matters of risk that may surface within assigned units.
  • Ensure that applicable Risks and Controls are identified and that testing of high and medium risk controls proves their effectiveness.
  • Recommend and manage implementation of process improvements, while maintaining or increasing customer satisfaction and reducing risk.
  • Ensure compliance with established internal guidelines and external regulations affecting assigned activities, and escalate all matters of risk that may surface.
  • Ensure applicable risks and controls are identified and that testing of high and medium risk controls validates their effectiveness.
  • Proactively identify and contain compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimizing relations with regulators.
  • Review department metrics including volume, service levels and state deadlines are met. Ensure monthly reporting is timely and accurate
  • Monitor performance against plan, practicing effective expense control. Prepare and maintain annual expense plan for assigned cost center, including unit cost
  • Maintain appropriate resources to ensure that there are policies, procedures and controls in place to mitigate compliance risk in accordance with Group standards and regulatory expectations and requirements.
  • To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
  • Complete other responsibilities, as assigned.


Major Challenges
  • Monitors and responsible for the performance of a team according to the terms of a Performance Level
  • Risk around manual processes that are necessary to meet regulatory requirements.
  • Ability to manage a department in a fast paced environment with constant change and considerable risk of non-compliance by misinterpreting most complex legal documents received.
  • Developing and maintaining productive relationships with multiple business partners
  • Managing conflicting priorities, including frequent project team meetings and a broad set of administrative deliverables, while coaching and directing team members.
  • Establishing and maintaining productive relationships with various business partners, as structures may change in between annual processing cycles.
  • Multiple technology projects may be in progress simultaneously, requiring considerable interaction with various project team members on all aspects of each project, and extensive project documentation review. Abandoned Property
  • Meeting regulatory deadlines for 54 jurisdictions ensuring qualified team members available to perform all functions required at required times


Qualifications

Employment eligibility to work with HSBC in the U.S. is required as the company will not pursue visa sponsorship for these positions
  • Minimum of eight years proven and progressive operations experience or equivalent
  • Proven management experience
  • Bachelor's degree in business, related field, or equivalent experience
  • Strong managerial, communications, planning, organizational, decision-making, negotiations and project management skills
  • Strong knowledge of assigned businesses, products, operations, systems and full understanding of all applicable industry standards
  • Proven ability to respond to changing circumstances


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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.