Non-financial Risk Regulatory Remediation

-Job description

The role of the Subject Matter Expert for Non-Financial risk is to provide qualitative answers to ECB requests (SREP, follow up of findings from On Site Inspections) in due time. The role holder will propose and monitor action plans to meet ECB expectations. The role holder will be accountable for validating the changes and preparing the documentation to be sent to the ECB.

This role will require to deal with a wide range of stakeholders (including DBS IT, Data Protection Officer, Finance, Compliance, etc.) at Group and regional level. There is a high volume of work which will require a thorough and thoughtful response, ensuring deadlines are met in an often time pressured environment. It will be necessary for the role holder to be highly adaptable and resilient.

The job holder is expected to employ innovative and logical thinking, to solve a variety of business issues.

**Principal Accountabilities: Key activities and decision-making areas**:
**ICAAP**:

- set up the Risk inventory process for ICAAP for Financial and Non-financial risks,
- drive the design of the internal materiality definition for risks included in the HSBC taxonomy,
- define the methodology for materiality assessment based on Group model and aligned with local regulatory expectation,
- ensure HBCE’s regulatory requirements and economic capital calculations in respect of Operational & Resilience Risk appetite,
- define and implement governance for risk inventory documentation and validation for ICAAP

**SLOD**:

- define a common methodology for all Risk stewards to ensure consistent approach for permanent control across HBCE,
- implement quarterly monitoring of permanent control resources to ensure alignment with HBCE Risk profile,
- escalate weaknesses and delays in action plans to the appropriate local and Group governance forums
- develop and review opportunities to frame the oversight documentation of Second Line of Defense in governance meetings,
- maintain an effective control environment in HBCE, in line with Group Standards and local regulatory requirements

**Data**:

- built a strong data leakage for reporting purposes across Risk.
- perform a complete reconciliation of the figures used for the internal risk management purpose with regulatory reporting, with clear identification of gaps, root cause and remediation plan
- expand the internal risk reporting to cover all HBCE Risk reporting requests
- ensure sufficient data quality of the monitoring and ad-hoc queries, both for internal and regulatory purposes.
- define and remediate the root causes of the data quality issues identified in the course of the inspection, including data aggregation, processing, and reporting.
- implement permanent controls, across all the lines of defence, on the overall quality of risk data and reported data, in line with Group framework and European regulation

**Outsourcing**:

- implement the design and built of the automation process for indicators related to Cloud outsourcing
- set up local Cloud framework leveraging on Group Cloud Outsourcing framework, to be fully compliant with EBA guidelines on Outsourcing and demonstrate local accountability
- originate appropriate data to feed ECB request of information for Outsourcing,

**Teamwork**:

- Support the delivery of the HSBC Continental Europe remediation plan related to Non-Financial Risk and Governance across the HBCE perimeter, working with a range of stakeholders in own team and other areas.
- Operational Effectiveness & Control
- Share best practices across HSBC Group
- Review processes and procedures to ensure risk requirements are met
- Ensure relevant and appropriate internal controls are applied, and their effectiveness can be evidenced

**Typical Targets and Measures**:
**ICAAP**:

- deliver clear, pragmatic and understandable documentation
- deadlines met
- evidence of working collaboratively with other areas
- provide all necessary analyses, briefings, and documents in a timely manner and to satisfactory standard
- proactive identification of material issues and themes and remedial action proposed/undertaken to ensure addressed

**SLOD**:

- deliver clear, pragmatic and understandable documentation
- engagement of the main stakeholders in Second Line of Defense
- deadlines met
- proactive identification of material issues and themes and remedial action proposed/undertaken to ensure addressed

**Data**:

- engagement of the main stakeholders in at Group and regional level
- deadlines met
- deliver clear, pragmatic and understandable documentation
- proactive identification of material issues and themes and remedial action proposed/undertaken to ensure addressed

**Outsourcing**:

- engagement of the main stakeholders in Cloud area at Group and regional level,
- deadlines met
- proactive identification of material issues and themes and remedial action proposed/undertaken to ensure addressed
- ensure Compliance with local regulation

**Teamwork**:

- delivery of