Associate, Wholesale Edd

1 month ago

London, United Kingdom HSBC Full time

Some careers are more impactful than others.

If you’re looking for a career where you will be respected as an individual and valued for the contributions you make, join HSBC and discover how diversity drives our success. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC Commercial Banking serves millions of businesses ranging from small, to large corporates, providing commercial customers with a full range of banking services including Global Trade and Receivables Finance, RMB solutions, multi-currency business accounts, payments and cash management, and wealth management and insurance, as well as a comprehensive range of financing solutions. With dedicated Relationship Managers and Product Specialists providing local support and advice in over 60 countries and territories, HSBC helps connect customers to opportunities.

As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.

Role Purpose:
The role is to assist and lead enhanced due diligence (EDD) reviews on correspondent bank clients (CBs) as well as money service businesses (MSBs) and Third Party Payment Processors (TPPPs); and work closely with the client coverage teams (Relationship Mangers and Global Relationship Bankers), Financial Crime Compliance (FCC), Client Management and other teams working on the completion of Customer Due Diligence profiles to ensure that we have appropriate evaluation of our highest risk correspondent banks, MSBs and TPPPs.

The purpose of the EDD reviews is to identify, assess and mitigate the risks associated with clients who pose a higher risk of financial crime. EDD processes produce comprehensive reports assessing the profile of the customer from a financial crime risk perspective.

Your responsibilities will include:

- To lead and perform enhanced due diligence on third party CBs, MSBs and TPPPs and make appropriate decisions and recommendations in line with HSBC’s risk appetite statement.
- Analyse financial intelligence reports/data including transactional analysis as part of the EDD.
- Draft the EDD Reports presenting the risk assessment of the client.
- Provide support guidance and training to other members of the team, CDD and KYC contacts as well as the RMs and GRBs (if required).
- Assess and escalate risk concerns identified through the EDD process.
- Assist in the identification of the CB population through the analyses of the transactional activity processed via the accounts the client holds with HSBC.

Major Challenges
- The job holder will be required to multi task and possess the ability to assess information from various sources to ascertain risks. The job holder will also support and lead meetings with clients, where aim is to discuss the financial crime prevention framework adopted by them
- Discretion and high level inter-personal and leadership skills will be required. He/she will also be required to liaise with FIG Senior Management and Regional Executive Management in providing input and direction into decision making, using judgement and expertise, while being able to work autonomously with enthusiasm and persuasiveness. The ability to drive and mobilise other stakeholders is critical to being successful in the role in addition to being able to build and develop strong relationships with external parties.

Role Context
- The ability to work effectively across the business lines and geographies is also critical, liaising with product, risk compliance and in country stakeholders. Awareness of the changing risk culture across Banking is important. Good communication skills are required to ensure that EDD team achieves its aims of developing the correspondent banking business within changing parameters.

Requirements

To be successful in this role you should meet the following requirements:

- Strong knowledge of risk management.
- Experience with Correspondent Banking, MSBs and TPPPs
- Experience in compliance, audit or operational risk would be an asset.
- Experience with reading and understanding transactions/transactional data.
- Experience of senior stakeholder management - internal and external
- Strong analytical skills.
- Well-developed inter-personal skills.
- Track record of report creation and delivering/presenting to stakeholders
- Excellent written and verbal communication skills, foreign languages would be an asset but not essential
- Able to negotiate and work effectively within a small dedicated team across geographies.
- A keen eye for detail.
- Excellent team player with a proactive and self-motivated attitude and ability to think and act independent

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