Your Business

Risk Management is responsible for developing the risk frameworks to allow the Group to take conscious exposures to credit, market, operational, compliance and insurance risks within a board-approved appetite. Risk Management ensures the Group has appropriate strategies and frameworks in place to assess, manage and report on credit, market, operational, compliance and insurance risks for Hong Kong Branch Institutional Banking & Markets (BB&M) and Business and Private Banking (B&PB). IB&M and B&PB are two of the client-facing business groups within the bank in Hong Kong. IB&M  manage the Branch's Institutional and Corporate business. B&PB manage the banks high net worth private client relationships.  

Your Team

The Compliance and Regulatory Risk team is responsible for ensuring that all business activities, transactions and processes are conducted in accordance with the legislative framework by providing advice on regulatory Compliance and Financial Crime (AML, Sanctions, ABC) matters and assistance with the resolution of regulatory problems across the Hong Kong Branch of Institutional & Business Banking (I&BB) businesses.

The Hong Kong Branch Compliance and Regulatory Risk team is responsible for ensuring that all Branch's regulated activities are conducted in accordance with its compliance obligations.

Your Impact & Contribution

To support sustainable business growth across Institutional Banking & Markets (IB&M) and Business & Private Bank through optimal risk/reward decisions and advice on regulatory Obligations. This role has a specific relationship with the Hong Kong teams.

This includes:

• Being a trusted adviser on Compliance & Regulatory Risk matters
• Being an efficient and effective second layer of assurance over Compliance obligations
• Supporting and enhancing a risk/reward culture across Institutional & Business Banking (I&BB)

Your Reporting Lines

Head of Compliance & Regulatory Risk, Hong Kong and MLRO

Responsibilities

This role has a focussed accountability for the IB&M Hong Kong businesses and will require close liaison with I&BB Compliance and Operational Risk colleagues in the Institutional Banking & Markets (IB&M) and Private (CP) portfolios in regional offices and head office. 

Governance Services

• Maintain the Hong Kong obligations register and advise management of changes to regulations which affect the branch and take appropriate actions to ensure ongoing compliance where necessary. 
• The Hong Branch Compliance and Regulatory Risk team is responsible for ensuring that all Branch's regulated activities are conducted in accordance with its compliance obligations. Evaluate and advise on compliance issues in relation to the Group Product and Development Framework.
• Dispatch and review regular and ad hoc requests / surveys / enquiries raised by HKMA or regulators to relevant business or support units for handling and monitor progress to ensure timely response to regulators.
• Disseminate circulars issued by regulator with highlights to various departments for information and follow-up actions.
• Manage licensing and registration processes with regulators (HKMA, SFC) and provide licensing advice to the business and other stakeholders.
• Provide advice on regulatory compliance matters, track progress of implementation of regulatory requirements by relevant departments to ensure full compliance with required standards and within expected timeframe
• Develop and maintain co-operative and effective working relationships with the Business and all other stakeholders.
• Execute the compliance monitoring and reporting program to agreed schedules as required under the firms Compliance Risk Management Framework.
• Contribute to the design, implementation and on-going improvement of the Hong Kong compliance risk framework.
• Ensure compliance with licensing requirements for the bank and relevant individuals of the Bank.
• Contribute to management of the Branch's relationship with Hong Kong regulators.
• Oversee the Branch's compliance with its Financial Crimes compliance obligations, including assisting the MLRO in reporting of suspicious transactions to relevant authorities in Hong Kong.

Advisory Services

• Proactively monitor the risk profile of the business areas including providing recommendations on key risk and control issues within material projects, new products or process changes 
• Oversee all aspects of AML compliance, including to act as a central reference point for the reporting of suspicious transactions to regulators and to whom all internal reports should be made; 
• Provide guidance to Branch stakeholders to assist them to develop robust procedures to comply with Hong Kong Branch regulatory obligations including AML, Sanctions, Anti Bribery & Corruption and Conduct, perform reviews on control efficiency and effectiveness
• Contribute to the development of and undertake compliance training across the Hong Kong branch.
• Undertake special projects or any other tasks at the request of your manager that you have the capability to perform safely.
• Coordinate and support on-site and off-site examinations by internal and external parties, follow up with relevant units on rectification measures in relation to examination findings.
• Handle other ad hoc projects or assignments

Your Skills & Experience

• Institutional Banking & Markets knowledge, Private Banking knowledge and financial markets product and process knowledge.
• Good understanding of banking rules, obligations and regulations such as Banking Ordinance, HKMA Supervisory Policy Manual, AMLO etc and practical application in a wholesale banking context.
• Minimum 5 years' + experience a financial services Compliance role or other relevant risk or consulting role. Commercial awareness and business partnering abilities.
• Strong written and spoken business English skills is essential. Cantonese or Mandarin is desirable but not essential.
• Strong knowledge of Hong Kong regulatory Licencing requirements. 
• Strong stakeholder communication and interpersonal skills. Able to work with stakeholders at different levels.
• Professional services/consulting/audit experience is desirable
• Ability to work independently with strong time management skills.
• Interested in building a strong career in regulatory compliance area.

Your Qualifications

• Tertiary qualification (law, business, economics, accounting, commerce or equivalent - essential
• Relevant professional qualification (e.g. FINSIA, ACAMS, PRMIA or GARP) or studying towards it - desirable