Head of Insurance Regulatory Implementation, Compliance - temp

  • 23 April
  • England - Greater London
  • CDD
Role Purpose

* Lead independent oversight and challenge of regulatory change and Global policy implementation across the Insurance business ensuring the business objectives are aligned with regulatory requirements, particularly those with extraterritorial effect.
* Where applicale, lead oversight of extraterritorial regulatory change across all markets of the Insurance business; including distribution, investment as well as manufaturing activities and coordinate implementation with the relevant counterparts (RBWM RC team, asset management RC team, etc…)
* Execution and tracking of deliverables with the ability to provide instant updates to Senior Management and business management when required.
* The Head of Insurance Regulatory Implementation will be accountable for building robust regulatory compliance and policy implementation coverage for all Insurance areas; with particular focus on the Insurance Investment area.
* Partner with RBWM Regulatory Affairs & Policy team (RAP) and other regulatory change SMEs to understand emerging, new and revised global regulatory requirements, codes of practice etc., ensuring changes and any impact are disseminated to the appropriate Insurance business areas.
* Communication and representation of regulatory material to internal and external stakeholders including regulators, senior management, etc..
* Execution of deputy-head activities to the Global Head of RC for Insurance, as and when required, including representation in relevant governance forums.

Key Accountabilities

Impact on the Business

* Manage all regulatory compliance issues of extraterritorial nature as well as Group Policies relating to the Insurance business, providing advisory services to the Business (from a manufacturing as well as distribution view, where applicable)
* Define the review, communication and implementation of regulatory and/or Group policy requirements which impact Insurance globally or in more than one country (e.g., EU laws, etc..)
* Define policies and procedures and support stakeholders to meet global regulatory requirements pertaining to the Investment area within the Business
* such as Regulatory Compliance Monitoring and Testing team (RCMAT) and audit.

Customers / Stakeholders

* Act collaboratively with RBWM RAP teams and other parts of Regulatory Change framework.
* Working closely with regulatory compliance teams of all markets of the Insurance business, icnluding RBWM and asset management RC teams.
* Working closely with the Global Head of RC, Insurance, members of the Global Insurance & Global RBWM RC functions and the regional / country RC teams to create an effective Compliance plan to manage the identified risks and develop global solutions to mitigate them
* Working closely with the Group Insurance Chief Risk Officer, Chief Investment Officer, Chief Operating Officer and their teams to provide effective support, guidance and oversight to ensure their effective understanding and execution of required regulatory change requirements
* Liaising with other specialist second line functions, e.g. Group Legal and Group Tax
* Ensuring Regional and Country RC Heads of Insurance fully understand what is required of them in the implementation of extraterritorial regulations and global RC policies

* Deliver fair outcomes for our customers and ensure our own conduct maintains the orderly and transparent operation of financial markets

Job Dimensions

1direct report plus contractor/consultant support as required

* HSBC currently manufactures Life Insurance in 11 Countries and sells Insurance products (either manufactured or third party sourced) across the RBWM footprint - plus also to customers of CMB and GPB).


Knowledge & Experience / Qualifications

* Significant knowledge and expertise of international laws; e.g., US law/regulations, European regulations, etc…
* Law Degree and/or Masters in Law (desirable)
* Leadership experience and a strategic thinker.
* Ability to lead change, contributing to joining up with the other teams in Risk and Business globally.
* Significant knowledge of Regulatory Compliance risks.
* Practical experience of policy implementation and change activity.
* Advisory experience.
* Insurance or Retail banking experience
* Excellent communication and inter-personal skills, including the capacity to articulate the case for risk management and policy in the language of business.
* Ability to develop practical, cost effective solutions to complex issues.
* Organised and capable of interpreting and analysing complex information and / or data and rendering it into a summary of issues and recommendations or a succinct summary for management.
* Team player, analytical, ability to perform under pressure.

Ability to adopt a tailored and effective communication style to varying levels of management up to and including Senior Management.