Senior Manager First Line Financial Crime Risk Senior Manager First Line Financial Crime Risk …

Fidelity International
in Hong Kong
Permanent, Full time
Last application, 18 Jun 21
Fidelity International
in Hong Kong
Permanent, Full time
Last application, 18 Jun 21
Fidelity International
This role is part of the First Line Risk function which is the business arm of our three lines of defence in FIL, supporting and advising our businesses in achieving their risk and regulatory objectives.

Department Description

This role is part of the First Line Risk function which is the business arm of our three lines of defence in FIL, supporting and advising our businesses in achieving their risk and regulatory objectives. Comprising of business and risk professionals it operates globally within our Workplace & Personal Financial Health and Investment Solutions & Services Businesses'. The function provides proactive support and guidance to management and staff across business and operational areas, to ensure that risks are effectively identified and managed in accordance with the enterprise-wide risk management framework.

Investment Solutions & Services Business (IS&S) comprises of the Asset Management and Distribution arms of Fidelity International operating globally outside of the US. The business is built on our investment and distribution expertise for wholesale and institutional clients and a service platform that allows clients to choose the parts of our value chain that are more valuable to them. The business is focused on providing the best and most innovative investment services and products and first line risk play a vital role here.

The Workplace and Personal Financial Health business ensures that we bring our global scale and knowledge together so that we may connect our distribution businesses globally, while remaining sensitive to regional and local requirements. Fidelity Workplace Investing (WI) offers investment & administration services for corporate pension schemes globally. Personal Investing and Platforms businesses operate in the UK, Germany, Japan, Hong Kong and Taiwan. Fidelity Personal Investing (PI) offers a guidance service to customers who wish to invest directly with Fidelity (without a financial adviser or broker) while Fidelity's Platform services allows customers to invest through a financial adviser or broker, with the latter being the customer that Fidelity's Platform business deals with.

Purpose of the Role

This role will form part of the First Line Risk - Financial Crime Centre of Excellence that will work across business lines and regions to provide subject matter expertise to advise and support teams in identifying risk, enhancing processes and improving the control environment. The role will form an integral part of the delivery of Risk's value proposition and will seek to embed an exceptional risk management culture within the business. This will be achieved through;

Pro-active, insightful and robust risk identification, review and challenge based on internal and external insight;

Meaningful key stakeholder engagement across the business, including Group Risk, Group Compliance and Audit;

A thoughtful, solutions-based and coordinated approach to challenges that are presented;

Striving for continuous improvement and standardisation, becoming an advocate for the adoption of risk management best practice;

Taking the lead from a risk management perspective in a change environment supporting the reduction in the risk profile of the firm

Key Responsibilities

Through strong stakeholder management provide financial crime risk management support and insight to the business, helping them to fully understand their risk profile;

Drive the financial crime areas of the Risk & Control Self-Assessment (RCSA) by providing guidance to the business and leading workshops to define and document the risk profile and control framework within the organisation;

Identify, assess, manage and report emerging financial crime risks. Support group wide scenario planning exercises as required and ensure that these are carried out on a timely basis;

Embed Enterprise Risk Management frameworks and systems within the business. Drive continuous improvement and excellence;

Ensure financial crime linked risk data is effectively captured and maintained and appropriate controls, risk appetite measures and key risk indicators (KRIs) are in place;

Provide analytical commentary and insight including oversight and analysis of risk event reporting;

Conduct risk-based reviews and provide assurance to the business, as required. Where control weaknesses or adverse customer journeys are identified recommend and track mitigation actions;

Provide meaningful and value-add risk and control reporting to the regional committees and senior management which include communication on the status of key risks and their respective remediation programs in the business and regulatory initiatives;

Conduct active read across of local, regional and global financial crime issues, events and build standardisation and consistency (where appropriate) in approach and outputs;

Drive risk management training and support financial crime education to increase risk awareness of good risk management practices within the business;

Provide support and coordination to financial crime prevention activities across the WPFH & Advisory & IS&S businesses and operational areas

Provide expert financial crime advisory support and guidance to the business for projects, new business or products, change initiatives and programmes and day to day BAU support for staff to effectively resolve issues.

Coordinate financial crime communications across the business, provide analytical commentary and insight and support the delivery of excellent fraud prevention messaging for our customers;

Review existing AML and fraud prevention control environments and recommend improvements, ensuring excellent client journeys and outcomes are maintained;

Identify, assess, manage and report emerging financial crime risks and escalate where necessary;

Deliver financial crime risk assessments and scenario planning exercises ensuring these are carried out on a regular basis, are insightful, forward-looking and actionable;

Work closely with Group functions including Financial Crime Compliance & MLRO's to drive continuous improvements, including supporting framework enhancements of Financial Crime Standards and Target Operating Models;

Support the business areas in the preparation for internal and external audits;

Act as a central point of contact between the Second line of Defence and the business units for financial crime activities, assisting in delivery of remedial activity and control enhancement;

Undertake monitoring and testing of the effectiveness of financial crime controls;

Communicate Second Line financial crime recommendations to the relevant business areas, assisting implementation where necessary;

Experience and Qualifications Required

Advanced Risk Management experience including relevant risk qualifications and relevant business experience desirable;

Proven track record in the management of financial crime risks and experience gained within a financial crime prevention or equivalent risk role;

Demonstrable, in-depth knowledge of financial crime prevention systems, controls and methodologies, particularly relating to Fraud and AML;

A thorough understanding of AML and CTF regulations and responsibilities and the ability to advise on the application of risk-based approaches in line with FIL appetite, policy and standards;

Excellent technical and practical knowledge of KYC/CDD requirements;

Proven experience of leading process, systems and controls reviews

Communicates with influence and comfortable engaging at all levels of the organisation;

Ability to inspire and energise the broader team operating within global connectivity and reporting lines;

Acts with integrity;

Demonstrates resilience, adaptability and good judgement;

Works collaboratively and leverages individual talents in support of company practices and goals;

Exhibits personal responsibility and accountability to maintain high standards by continually seeking opportunities to increase efficiency and quality of existing work processes, methods, and systems;

Strong analytical and problem-solving skills with ability to provide innovative solutions;

Adopts a flexible and agile approach to work;

Ability to be proactive and work independently including self-development to keep up to date with emerging financial crime threats and regulatory requirements;

Strong customer focus;

Company Overview

Great minds, better together.

Fidelity International is an equal opportunities employer and is commited to a policy of treating all its employees and job applications equally.

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