Senior Risk Manager, Operations - HSBC Life

Job description

Some careers have more impact than others.

If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be. 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 Life is a world-class institution where you can specialize in Insurance but enjoy the advantages that come with being part of a leading global international bank. Insurance is about people, and the promises they make. At HSBC Life we help deliver on these promises by providing a wide variety of life insurance products and services to our clients throughout the Asia-Pacific Region.

Our Employees enjoy a dynamic and innovative workplace and a world of opportunities to develop their careers in a high-profile growing business segment. We empower our team of high-performing individuals to build skills and explore new experiences to realise the full potential of being part of HSBC.

Together we pursue efficient ways of working. We harness the latest data and technology solutions to achieve meaningful outcomes for our clients. The protection we offer creates broad and lasting impact, helping clients to be healthier, more productive and more confident in their futures.

We are currently seeking a high calibre professional to join our team as a Senior Risk Manager, Operations.

• The Senior Risk Manager, Operations role sits in the Operations team in HSBC Insurance HK’s Chief Operating Office. The role reports to the Head of Operations.
• ORSO administration activities will be outsourced to a third party. This is considered a material outsourcing and it will be essential to have close oversight on this arrangement. The service provider is new to the HK market. Considering various factors such as materiality of the outsourcing, experience of the service provider, regulatory expectations, reputational impact etc. any issues with the outsourcing could have a significant impact to HSBC Life. Therefore the outsourcing needs to be managed closely to pre-empt issues and promptly address any issues that do occur. Overseeing and managing the ORSO administration activities that are outsourced will be a key responsibility of this role holder.
• The role holder will need to work closely with the senior management of the third party to ensure that service standards are upheld and any issues are promptly addressed.
• The role holder will also be responsible for the oversight and management of the risk associated with the various operational processes under Life and EB Ops. A focus area for the role holder would be Third Party risk. Third Party service engagements, including contractual agreements, risk assessment, on-going monitoring, and exit management on a day-to-day basis on behalf of Head of Ops in compliance with HSBC Policies and Regulatory requirements.
• The role will require effective collaboration and alignment with second line risk functions such as Regulatory Compliance, Legal, Resilience Risk as well as teams such as Products, Distribution and IT.
• The role holder is required to act in accordance with Group requirements detailed in Group Standards Manuals (GSM), Functional Instruction Manuals (FIM), and any other applicable standards.

Principal Responsibilities

• Act as the primary point of contact for Service(s) received from the third party and interact directly with the Third Party in relation to the Service(s) received on behalf of the entity
• Complete Third Party risk assessments and understand the risk assessment result for a proposed third party Engagement prior to contract award
• Manage the risks associated with the Third Party engagement(s) and understand the implication of responsibilities and regulatory requirements if any issues / concerns identified with the services being received
• Complete Third Party control due diligence tasks on a timely basis in accordance with HSBC Policies
• Establish and agree KPIs with the third party
• Establish a mechanism for obtaining appropriate management information (MI) and reporting from the third party as part of the various ongoing monitoring requirements for the Service(s) received Identify and track any control deficiencies and performance issues with timely follow up with the Third Party
• Hold regular meetings with the third party to review holistic performance and ensure minutes are documented with any actions/decisions agreed
• Complete supplier performance metrics where applicable to allow centralised measurement and reporting of supplier performance
• Liaise with key stakeholders, including Second Line of Defence, to prepare the required governance materials to Risk Owner, ExCo etc
• Develop a plan to improve service provision and create opportunities for growth

Requirements

• Organised and autonomous
• Excellent communication and interpersonal skills
• Analytical skills to identify and define problem statements. Collaborate with stakeholders to define optimal solutions
• Confidence to interact with both internal and external parties varying levels of seniority
• Proven ability of stakeholder management, resource mobilization
• Solid ability to produce documentation ranging from process maps to risk assessment papers
• Ability and drive to successfully deliver multiple, wide-ranging priorities, under stringent time pressures
• Experience in project and risk management capabilities with a positive can-do attitude
• Operations experience would be a plus