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The Financial Crime function is a Second line of defence (LOD) function that includes ”Risk Stewards” who are independent of the commercial risk-taking activities undertaken by the Group’s businesses (also referred to as “the First LOD”). These Risk Stewards are responsible for reviewing and challenging the activities of the the First LOD to ensure that, as “Risk Owners”, they effectively manage the financial crime risk inherent in, or arising from, the conduct of their activities and for which they are responsible. Financial crime risk is a non-financial risk that includes fraud, money laundering, bribery and corruption, sanctions violations, terrorist financing, proliferation financing, export control violations and tax evasion. The Financial Crime function operates in accordance with HSBC Group’s Risk Management Framework (RMF).

We are currently seeking an experienced individual to join this team in the role of Head of Fraud, Hong Kong.

Role purpose

The Head of Fraud, Hong Kong is responsible to ensure HSBC Hong Kong manages the fraud risks that it faces. The role holder is the accountable executive role focused on and responsible for ensuring that operations are effective in countering the risk that Hong Kong might be used or targeted by fraudsters. The role holder also requires strong partnership with Group Infrastructure to manage financial crime related risks arising from their respective areas.Reporting to Head of Financial Crime Oversight, Hong Kong on both entity and functional basis.

Principal Accountabilities and Responsibilities

Provide strategic direction and guidance with respect to Fraud Risk including the development and implementation of a robust Risk management framework. The articulation of HSBC Hong Kong risk appetite and policies with respect to fraud.Accountable to implement policy for Fraud Risk Management framework to meet requirements and legislation in the market.Provide thought leadership, guidance and support to the Lines of Business and Group Infrastructure to ensure an appropriate culture is embedded to identify and mitigate Fraud Risk in HSBC Hong Kong. Accountable for oversighting the Bank’s overall Fraud Risk strategy, policy and standards, controls, and systems at the HSBC Hong Kong level. Act as the Subject Matter Expert Risk Steward providing independent advice and challenge to the Lines of Business and Group Infrastructure on Fraud Risk, including all aspects of material Internal and External Fraud Risk events.Responsible for advising and guiding in setting Fraud Risk appetite and performing oversight activities.Engagement with Risk Teams to ensure fraud risk is assessed and managed appropriately in the context of the credit cycle.Develop a robust communications strategy supporting the awareness of Fraud Risks and Policies across the Lines of Business and Group Infrastructure, including Risk and Compliance.Provide support to drive Regulatory and cross-Industry engagement and innovation in tackling the challenges posed by Fraud Risks.Drive Regulatory and cross-Industry engagement and innovation in tackling the challenges posed by Fraud Risk.Act as principal point of contact for internal and external stakeholders in relation to Fraud Risk.Lead the team to work with Lines of Business and Group Infrastructure to ensure consistent and effective application, and implementation, and controls to evidence related to Fraud Risk standards, policies and procedures. Responsible to work with relevant contacts in Group Infrastructure to drive the implementation of financial crime related policies, monitor and track the progress of various work streams and initiatives underway which fall under the umbrella of financial crime risks.Provide policy advice related to Group Infrastructure tasks / processes / services and clients to address the risks associated with Group Infrastructure. Act as the Subject Matter Expert Risk Steward and go-to-person for Group Infrastructure for financial crime related workstream leads to ensure the processes and implementation risks and issues are considered and addressed.