Global Financial Crimes Compliance Specialist - Assistant Vice President/Vice President

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Bank Of America / Merrill Lynch
  • 21 Nov 17 2017-11-21

Global Financial Crimes Compliance Specialist - Assistant Vice President/Vice President

Job Description:
About Bank of America Merrill Lynch:
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the World
Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.

Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion.

Job Description and Role Responsibilities
This role is responsible for ensuring consistent quality of activities, processes and outputs by engaging in effective review practices across the team. The Global Financial Crimes Compliance ("GFCC") Specialist under supervision, assists Global Financial Crimes Compliance executives and managers in any of the following activities in support of the identification, escalation and timely mitigation of compliance risks in alignment with the Compliance Risk Management (" CRM") Program and the Financial Crimes and Global Compliance Enterprise Policies ("GC Policy"):

  • To assist in the management of all financial crime risks in the APAC region and more broadly through the implementation of a robust and effective financial crime control framework.
  • To assist in the oversight, governance and administration of the Function and drive change.To ensure appropriate escalation, effective communication and awareness to senior management, whilst working in close cooperation with relevant stakeholders and Committees both locally, regionally and overseas.
  • To assist with GFCC's risk assessment responsibilities: execute the Enterprise Risk Assessments across the region; drive the development of action plans through relevant committees; maintain core documents and track activities to completion.
  • Assist in coordinating Monitoring and Testing activity, liaising with the testing team and risk managers to review results, escalate any issues identified.
  • Assist in maintaining core documentation relating to identified issues, assist risk managers in raising issues and developing remediation plans, track issues and drive to resolution.
  • Assist in coordination and management of audits/exams across business and function; support preparation for audit/exams impacting GFCC matters; ensure that all core documents are maintained and up to date.
  • Assist in the coordination and maintenance of the Financial Crimes regulatory inventory in APAC.
  • Update relevant policies to ensure they reflect regulatory requirements for Financial Crimes.
  • Contribute to monitoring and testing coverage plans and related metrics.
  • Monitor and test the effectiveness of the front line unit and control function compliance risk controls.
  • Execute governance and management routines.
  • Identify aggregate, report and escalate compliance risks, issues and control enhancements.
  • Identify compliance training needs and inspect Front Line Unit ("FLU"), Control Function ("CF") and third party participation for Financial Crimes.
  • Inspect that commitments made regarding actions in response to regulatory exams and other actions are completed.
  • Escalate regulatory relations concerns to GFCC Compliance Manager or Executive.

Candidate Qualifications
  • Bachelor's Degree with equivalent 5+ years' work experience, preferably, in a financial environment with a leading bank, securities house, regulator or accountancy practice preferably within a regulatory compliance orientated role
  • Experienced in dealing complex matters and handling regulatory matters
  • Proven project management skills
  • Superior subject matter expertise
  • Excellent written and verbal communication and presentation skills
  • Audit / assurance activity experience
  • Able to work independently in a dynamic and challenging environment
  • Relationship building skills - both internal and external
  • Ability to interact with local regulatory, government, and industry peers in order to provide the Bank with a more informed view of financial crime risks
  • Strong attention to detail

Bank of America Merrill Lynch is an equal opportunities employer.

Posting Date: 03/08/2017
- Hong Kong

Full / Part-time: Full time
Hours Per Week: 40