Women's Job List

Legal Risk Manager - HSBC - Buffalo, New York - EXPIRED


This is an archive of an expired job.

Job Information:

Company: HSBC

HSBC Logo North America-United States-New York-Buffalo

This position assists the US Legal Risk team to fulfill its responsibilities as second-line of defense for the US Legal Department, using the global operational risk framework to provide guidance to senior management in the legal department on their efforts to control advice over legal risk in their respective business lines, including risk assessment, risk monitoring, control identification, mitigation, and Operational Risk governance.

 

Monitors the management of a business line's operational risk process through interaction with management, data analysis, production of routine and ad hoc reports and end-user database support. Actively supports businesses in their management of operational risk through the course of risk assessment, monitoring, control identification, mitigation and measurement. Ensures timely and proper attention is paid to operational risk issues in order to minimize potential losses. Delivers training programs upon request for all levels of business partners. Liaises with other business support areas to facilitate operational risk identification and ownership.

 
Impact on the Business 
  • Provides expertise, guidance, and oversight and support of strategic initiatives driven by the Legal function to proactively manage legal risk.
  • Partners with other members of US Legal and Senior Management to proactively drive change within the Legal function and businesses, as appropriate, based on review findings.
  • Provides analysis and input on all relevant business risk and control monitoring plans. Ensures that the controls and plans are properly executed within the respective business line.
  • Provides review and analysis of Group Legal FIM (Functional Instructional Manual) to ensure business policies and procedures are in compliance with Group requirements.
  • Develops and analyzes relevant business risk dashboards, risk maps, and commentary.
  • Maintains positive relationships with businesses, acting as a consultant where needed in order to properly aid in the mitigation and control of risk. Aids in the identification and assessment of operational risk throughout the business line with an eye toward recognizing opportunities to reduce risk. 

Customers / Stakeholders 

  • Builds strong relationships with all internal stakeholders, adopting a joined-up approach to the execution of tasks with minimum conflict, while ensuring the independence of the Legal function.
  • Supports Legal management in building and maintaining positive and professional relationships with key external stakeholders.
  • Works collaboratively across the Legal function and peer group.
  • Supports Legal management in the communication of matters arising, and emerging trends, from assurance reviews and analysis to executive and senior management in the business, functions and Legal.
  • Provides internal stakeholders with insight into Legal activities.
  • Supports Legal management in the effective planning of assurance activities to ensure plans take full consideration of and inform audit activity. 

Leadership & Teamwork 

  • Trains employees in operational risk disciplines (risk identification and assessment, loss reporting, key risk indicator creation and reporting, controls, etc.).
  • Demonstrates strong teamwork, organization, complex problem resolution and initiative.
  • Displays sound judgment, a keen sense of urgency, and a high level of professional and personal integrity.
  • Promotes an environment that supports diversity and reflects the HSBC brand. 

Operational Effectiveness & Control 

  • Undertakes a monitoring/oversight role in respect of the management of risk within the Legal function and an oversight role in respect of legal risks in the businesses, functions and HOST across the US region.
  • Acts as an SME for business lawyers for all risk management requirements under the ORMF (Operational Risk Management Framework).
  • Provides RCA Lead Lawyers with guidance regarding legal risk advice within their business unit, including risk assessments, risk and control monitoring, and control identification and mitigation.
  • Initiates periodic RCA oversight/quality assurance reviews with business lawyers and relevant business BRCMs.
  • Ensures changes are made in the business/function RCAs as a result of quality assurance reviews, changes in Legal FIM requirements, and/or trigger events.
  • Monitors the management of business-owned issues and actions related to legal risks and controls, and assists in the identification and documentation of root causes, timely remediation of actions, management reporting, and escalation as necessary.
  • Assists in setting proper key indicators (KIs) with relevant stakeholders and monitors KI results.
  • Performs review and analysis of monthly litigation loss reports, providing appropriate Operational Risk Taxonomy categories to business-owned losses.
  • Assists RCA Lead Lawyers with the preparation and review of monthly Risk Map reporting for each of the business lines.
  • Creates and manages routine and ad hoc Op Risk reports to support monitoring and control of legal risks.
  • Produces operational risk reporting for management and various forums and supports reporting for executive committees.
  • Is a point of contact for the Legal BRCM to ensure that the ORMF is properly embedded in the Legal function and that controls to manage legal risks as second line are properly described and monitored.
  • Performs themed reviews on the first line of defense.
  • Provides operational risk training to the Legal Department as needed.
  • Manages a centralized repository for data and documents required in conjunction with Internal Audits or second line assurance reviews. 

Major Challenges 

  • Working with colleagues and governance bodies across multiple business lines at the local (business line), regional (HNAH), and global (Group) level. 

Role Context 

  • Understands the continually changing nature of Operational Risk within the Financial Services Industry. While initially regulatory driven, there are many benefits of good operational risk programs (ex., lowered loss expenses linked to better controls resulting from Op Risk assessments, positive regulator reviews, predictive measures highlighting potential areas of concern, etc.) that this role has the opportunity to directly impact in a positive way. 
  • Builds strong relationships and has a good understanding of HSBC Business Groups and the interdependence with Legal, which is critical to properly assessing the inherent risks involved.
  • The amount of supervision required for this position is independent.  Incumbents are expected to proactively work within overall guidelines and timeframes set forth. The position is somewhat autonomous. 

Management of Risk 

  • Awareness of operational risks, primarily through the identification and management of legal risks associated with business units.
  • The role holder will also be required to continually reassess the operational risks associated within the relevant LoB, taking into account changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
  • Ensures compliance with the ORMF and operational risk controls in accordance with HSBC, the Legal FIM, regulatory standards and policies, and other Group policies.
  • Adheres to HNAH’s Statement of Business Principles and Code of Ethics. 

Observation of Internal Controls 

  • Maintains HSBC internal control standards, including timely implementation of internal and external audit actions, together with any issues raised by external regulators.
  • Assists in the discharge of accountabilities set out in the Legal FIM by proactively assisting Risk Stewards and Control Owners in their responsibilities.

Qualifications

 
  • Risk professional with experience in a previous operational risk, audit, compliance and/or equivalent.
  • Bachelor’s degree in business management, finance, accounting, economics, mathematics, related fields or equivalent experience.
  • Strong analytical, problem-solving, lateral thinking, communications, project management, planning, organizational, analytical, presentation, verbal/written communication and interpersonal skills.
  • Advanced spreadsheet and database knowledge preferred.
  • Knowledge of the supported business and functional units, their products and services.
  • Strong written communication skills.
  • Excellent communicator with strong collaborative, interpersonal and influencing skills. 
EEO/AA/Minorities/Women/Disability/Veterans