Ensure that all activities and businesses of Hong Kong are carried out in accordance with local rules and regulations and relevant Internal/ Group Policies & Procedures by providing Compliance advisory support, 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
- Responsible for developing, reviewing, updating and enhancing Compliance frameworks, methodologies, policies, procedures and controls over AML, CFT and Regulatory Compliance. Continuingly advance and improve AML, CFT, Anti-Bribery and Corruption (“ABC”) and Sanctions Compliance framework, methodologies, policies, procedures and controls so as to be in line with the Hong Kong Monetary Authority (“HKMA”) requirements and industry best practices.
Regulatory Reform Management
- Required to keep continuingly abreast of all regulatory developments in Hong Kong and to ensure that all the relevant regulatory changes are taken into consideration with the design of the FAB Hong Kong branch’s framework, methodologies, policies, procedures and controls so as to ensure adherence to all HKMA requirements at all times.
Anti-Money Laundering (“AML”), Countering the Financing of Terrorism (“CFT”) and Sanctions Compliance
- 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.
Compliance Monitoring and Testing
- Participate in developing and executing of the risk-based Compliance Monitoring Plan (“CMP”) and conduct the reviews in alignment with the established timelines.
- Timely and effective reporting of CMP review results highlighting regulatory weaknesses and areas of non-compliance for management together with recommendations for corrective action.
- 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
- At least 10 years of Compliance experience in financial services, of which a minimal of 5 years must be in AML, CFT and Sanctions Compliance in the Hong Kong banking industry.
- Strong understanding and knowledge of compliance and international compliance best practices, particularly in HKMA banking regulations.
- 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 (both the HKMA and the SFC).