HK MLRO and Greater China Financial Crime Compliance HK MLRO and Greater China Financial Crime  …

Northern Trust Company
in Hong Kong
Permanent, Full time
Last application, 22 Sep 21
Northern Trust Company
in Hong Kong
Permanent, Full time
Last application, 22 Sep 21
HK MLRO and Greater China Financial Crime Compliance
Who we are
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise, and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families to the most-successful hedge funds and corporate brands.

What we do
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

What you will do
Financial Crime Compliance forms part of Global Compliance and Corporate Risk function and is entrusted with ensuring identification, risk assessment and monitoring of all our regulatory obligations in the locations we operate. This role will be appointed as the Manager-in-Charge for Anti-Money Laundering & Counter-Terrorist Financing for the Hong Kong office. In this newly created role, the HK MLRO and Greater China Financial Crime Compliance Partner will work closely with Hong Kong and China business partners and compliance to ensure adherence to applicable anti-money laundering, sanctions, politically exposed persons and anti-bribery and corruption laws and regulations.
This role will report to the APAC Regional Head of Financial Crime Compliance and will work closely with other Northern Trust MRLOs, shared services teams in EMEA, North America and Manila, and the China and Hong Kong Compliance function.
As part of the Asia Pacific compliance team, this role is in the second line of defence and will assist in the implementation of the Northern Trust Compliance model. The Compliance function is responsible for ongoing oversight and reporting regarding regulatory obligations to senior compliance and business management.
1. Advise and directly partner with Senior Management and business partners on applicable laws, regulations, rules, standards and best practices which may impact their business
2. Partner with management and business partners to implement financial crime compliance programs, including training on such programs
3. Identify, document and drive business acceptance of financial crime regulatory risks
4. Overall responsibility for financial crime compliance policies and procedures including money laundering, sanctions, politically exposed persons and anti-bribery and corruption
5. Embed the Northern Trust framework for identifying and documenting all local financial crime compliance obligations through rules mapping, risk assessments, monitoring, and regulatory change management processes
6. Conduct gap assessment between existing and new local regulatory compliance obligations and global / regional policies and procedures and develop additional controls as required to comply with local obligations
7. Implement and ensure tracking of financial crime compliance regulatory changes
8. Conduct Financial Crime Compliance Enterprise Wide Risk assessments compliance risk assessments annually or as otherwise required for HK
9. Review and agree on suspicious transaction monitoring conducted by a centralized team
10. Develop and conduct other financial crime compliance monitoring activities for the HK business
11. Provide training on new and existing developments related to coverage area
12. Fulfill AML reporting requirements, including for internal committees and boards
13. Identify areas for control enhancement in either the first or second line of defense. Define and implementing additional Financial Crime Compliance controls to minimise TNTC's risk profile
14. Ensure adherence to global requirements
15. Work in partnership with the wider Compliance, Financial Crime Compliance, Risk and Controls teams
16. Lead projects and increase understanding of project management methodologies
China Financial Crime Compliance
1. In consultation with the China MLRO, provide advice on local financial crime compliance laws and regulations
2. Drive business acceptance of financial crime risks
3. Oversee MLRO activities by reviewing and providing input into policies, the Enterprise Wide Risk Assessment, financial crime rules mapping, gap assessments etc.
4. Assist the China MLRO to provide training to China partners
Your Knowledge/Skills
• Fluent in English and ability to communicate in a clear, concise and effective manner (verbal and written)
• Preference for native or professional proficiency in Mandarin.
• Experience in implementing anti-money laundering and other financial crime compliance laws and regulations
• Understanding of local regulations (e.g., SFC, PBOC, CBIRC) and relevant laws preferred
• Ability to collaborate and maintain positive partnerships with business partners while at the same time remaining objective, with an ability to make an independent assessment of the risk environment and business challenges, and work toward practical risk mitigation actions
• Proven track record in making risk informed judgements, based on sometimes limited and/or ambiguous information, and leading facilitation of issue resolution
• ACAMS certification preferred
• Experience providing compliance advisory and operational support for Hong Kong and China
• Strong organisational skills, a collaborative approach to work, with strong interpersonal skills
• Prefer knowledge of Custody, Payments, Asset Servicing, FX, Fund Administration, Securities Lending, Brokerage businesses as well as corporate governance such as outsourcing, data privacy and bank secrecy requirements.
• Ability to use initiative and work unsupervised in a proactive manner
• 10+ years of related experience
Northern Trust is an equal opportunity employer. We aim for excellence in our efforts to recruit, develop and deploy the highest caliber workforce. Our commitment and success to a diverse workforce is evident in employee satisfaction and industry acknowledgment.

Additional Information

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