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Risk and Compliance is a Second Line of Defence (LOD) function, responsible for reviewing and challenging the activities of the Group’s businesses (also referred to as ‘the First LOD’) to ensure that they effectively manage as ‘Risk Owners’ the risks inherent in or arising from the conduct of their activities and for which they are responsible. The Second LOD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LOD. The Risk and Compliance function is a Risk Steward for a number of financial and non-financial risks in accordance with HSBC Group’s risk framework.

Role Overview
UAE and global regulators expect firms to have systems and controls for monitoring market abuse like Insider Dealing, Market Manipulation, and Dissemination.
This role involves working in the Markets Surveillance team to support Regulatory Compliance (RC) in MENAT. The surveillance team monitors market abuse using trade and communication surveillance systems to ensure HSBC complies with laws and ethical standards. The role involves actively monitoring market abuse across GBM and Wealth Management businesses and products. The incumbent must detect potential market abuse in trading across different product lines. The incumbent must always work to enhance surveillance systems and processes.

The incumbent must stay informed about industry changes, regulatory updates, and financial news. The incumbent must be passionate about and understand financial markets.

Duties Responsibilities
•Performing daily trade and communication surveillance across Corporate and Institutional Banking and Wealth management
•Expertise is needed to detect regulatory compliance risks such like Market Manipulations and misconducts through investigative and surveillance work.
•To test the adequacy of controls in place within the business.
•To escalate regulatory and internal breaches so that appropriate action can be taken to rectify them.
•Performing ad-hoc trading reviews. The scope of the report should include trends, analysis, and any trading activity that deviates from the norm.
•Foster a close relationship with the regulatory compliance teams.
•Provide support and guidance for the expanding off-shoring function .
•Assist in the development of automated surveillance systems to improve efficiency and reduce false positives.
•Assisting team members with the implementation and roll-out of a new surveillance/market abuse monitoring tool.
•User Acceptance Testing (UAT) for new automated surveillance tests. Providing detailed analysis and test scripts.
•Knowledge of the Market Abuse risksis essential.
•An interest in financial markets, particularly financial market regulation, is essential.
•Knowledge of various asset classes is essential.
•Timely production of high-quality management information (MI).
•Ad-hoc regulatory compliance work includes tasks such as retrieving Bloomberg messages and monitoring dealer board telephone calls.