Associate Director – Compliance Officer

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • First Abu Dhabi Bank
  • 15 Jan 18 2018-01-15

Associate Director – Compliance Officer

JOB PURPOSE:

  • Ensure that the activities and businesses of Hong Kong related to Anti-Money Laundering (AML) are carried out in accordance with local rules and regulations and relevant Internal/ Group Policies & Procedures by regular monitoring, reporting and assessment of the effectiveness and efficiency of controls and processes in Hong Kong.
  • Support the Head of Compliance – Hong Kong on day-to-day general compliance matters (as detailed below).

​​ KEY ACCOUNTABILITIES:

  • Assist in ensuring the branch is AML compliant with local regulatory requirements for Hong Kong activities and business via concise, accurate and relevant reporting of suspicious activities.
  • Periodically assess and review the AML and CFT policy to ensure that Hong Kong has an effective policy in place and to execute proper due diligence on customers including on-going CDD and ensuring that it is maintained up-to-date.
  • Assist in ensuring that Hong Kong complies with FAB's Sanctions policies and procedures by undertaking monitoring of transactions and ensuring that all staff are appropriately trained.
  • Participate in developing and executing of the risk-based Compliance Monitoring Programme (CMP) relating to AML and conduct the reviews in alignment with the best practices.
  • Timely and effective reporting of CMP review results highlighting regulatory weaknesses and areas of non-compliance for management together with recommendations for corrective action.
  • Conduct periodic monitoring and follow-ups on corrective actions.
  • Undertake reviews of suspicious activities and internal disclosures, determine whether or not it is necessary to make a report and file Suspicious Activity Reports (SAR's) to the appropriate regulatory and / or enforcement authorities and provide guidance on how to avoid "tipping" off if any SAR is made.
  • Conduct AML awareness and training sessions to ascertain that all staff are aware of their regulatory obligations and have a working knowledge of how to identify suspicious transactions.
  • Ensure all 'red flags' for any AML / CDD checks performed have been fully reviewed and that any adverse comments have been fully investigated and the risk mitigated.
  • Perform regular on-going review of all customer mandate files (especially PEP's and 'High Risk' customers) as required by related regulatory authorities, in order to ensure that Hong Kong businesses 'know their customers'.
  • Perform regular compliance checking, review, self-assessment required by regulators, management and/or the Group and draft findings/reports.
  • To keep abreast of regulatory developments in Hong Kong on AML and other general compliance matters and to review changes to regulation, analyse its impact for FAB and inform the Head of Compliance - Hong Kong on any regulatory changes.
  • Support Head of Compliance - Hong Kong on day to day activities relating to other general compliance matters that best meets FAB's interest including but not limited to:
    • providing compliance oversight for FAB’s Hong Kong business activities;
    • liaise with relevant stakeholders within FAB’s Hong Kong business activities to provide advisory, guidance, education and training on all regulatory and group compliance policy related matters;
    • ensure a proactive approach is taken to identify regulatory compliance risk and potential impacts on FAB’s Hong Kong business activities;
    • assist in the interpretation and implementation of new or changes in regulations and 3 group policies, as required, to address, manage and mitigate impacts of such changes, in a practical and effective manner, with a good understanding of the business operations and needs;
    • assist in the development and completion of the compliance monitoring plans for FAB’s Hong Kong business activities;
    • interact with regulators and industry bodies in Hong Kong on regulatory compliance matters; and
    • ensure the appropriate, timely and relevant regulatory compliance risk information is provided to management via the various risk management committees.

FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:

  • Executing and monitoring Hong Kong’s compliance of AML and general compliance activities with standards, internal and Group policies and procedures and regulations
  • Other authorities as directed by the Head of Compliance – Hong Kong and Group Compliance (Head Office). 

QUALIFICATIONS & EXPERIENCE:

Minimum Qualification

  • Bachelor’s Degree (preferably higher degree) in Management, Banking and/or Finance.
  • Certification by International Compliance Association (ICA) or Association of Certified Anti-Money Laundering Specialists (ACAMS) in AML.

Minimum Experience

  • At least 7 years of legal / compliance experience in financial services.
  • Strong understanding and knowledge of compliance and international compliance best practices.
  • Strong team player who is highly motivated, independent and able to work under pressure and tight timelines.
  • Excellent communication and inter-personal skills, with experience of dealing with stakeholders at all levels.
  • Ability to develop practical, cost effective solutions to complex issues
  • Experience in dealing with regulatory matters and confident in interaction with regulators.