HSBC: TWO STEPS FORWARD & THEN FOUR STEPS BACK, ON AML ??

What on earth is going on with HSBCs frequently dysfunctional compliance program ? In 2012, I wrote about my misgivings, concerning HSBCs abrupt, and total, closing of its Buffalo, New York Regional Anti-Money Laundering Center, which had a staff of 77. You can read my article here. 

Now, major media is reporting that HSBC will cut 25,000-50,000 jobs, which obviously includes AML/CFT. I get it, the bank needs to reduce overhead.

Why did I read an advert, yesterday, where HSBC is advertising for an AML compliance officer, in Buffalo, once more ? can't they make up their minds about keeping their AML staff ?

One more item: listed job description for the AML compliance officer job, which only asked for two year's experience, and a Bachelor's degree, detailed such a huge list of responsibilities and duties, that I doubt even the head of FinCEN could properly handle. I have had 35 years of experience, and I confess the tasks assigned in the job description might require 60-70 hours a week to perform. HSBC management wants all of this from a junior compliance officer ? If you overload your compliance officer, who are relatively inexperienced when they arrive in your office, compliance malpractice will result.
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