Head of AML, Sanctions

2 weeks ago

Hong Kong, Hong Kong SAR China HSBC Full time

A Career with Hang Seng Bank

Hang Seng is committed to service excellence. Our people are our most important asset and play a vital role in our efforts to continually enhance our performance for customers and provide best-in-class products and services. We seek to attract high-calibre talent by offering a dynamic working environment, good career development opportunities and competitive compensation packages. 

Risk and Compliance Division – Financial Crime

The Financial Crime function is a Second line of defence (LOD) function that includes ”Risk Stewards” who are independent of the commercial risk-taking activities undertaken by the Group’s businesses (also referred to as “the First LOD”). These Risk Stewards are responsible for reviewing and challenging the activities of the the First LOD to ensure that, as “Risk Owners”, they effectively manage the financial crime risk inherent in, or arising from, the conduct of their activities and for which they are responsible. Financial crime risk is a non-financial risk that includes fraud, money laundering, bribery and corruption, sanctions violations, terrorist financing, proliferation financing, export control violations and tax evasion. The Financial Crime function operates in accordance with HSBC Group’s Risk Management Framework (RMF). 

We are currently seeking a high caliber professional to join our department as Head of AML, Sanctions & Fraud Risk. .

Principal responsibilities

The Head of AML, Sanctions & Fraud Risk HASE is responsible to ensure HASE HK manages the Money Laundering (ML), Sanctions and fraud risks that it faces. The role holder is the senior leadership role focused on and responsible for ensuring that operations are effective in countering the risk that HASE HK might be used or targeted by money launderer and fraudsters. The role is a key risk management role with a broad remit and responsibilities including:

Provide strategic direction and guidance with respect to Fraud Risk, AML and Sanctions including the development and implementation of a robust Risk management framework in respective areas. Accountable to implement policy for AML, Fraud Risk and Sanctions Management framework to meet requirements and legislation in the market. Accountable for implementing the Bank’s strategy, policy and standards, controls, systems and policies that are being implement at country level. Lead the team to work with Lines of Business and Functions to ensure consistent and effective application, and implementation, and controls to evidence related to AML, Fraud Risk and Sanctions standards, policies and procedures. Provide thought leadership, guidance and support to the Lines of Business and Functions to ensure an appropriate culture is embedded to identify and mitigate AML, Sanctions and Fraud Risk across HASE HK Accountable for oversighting the Bank’s overall AML, Fraud Risk and Sanctions strategy, policy and standards, controls, and systems at the HK level. Act as the Subject Matter Expert Risk Steward providing advice to the Lines of Business and Functions on AML, Fraud Risk and Sanctions. Act as the trusted advisor to senior executive stakeholders in HK HASE & ASP FC to ensure progress/issues are properly and timely articulated. Responsible for providing independent review and challenge the activities of the Lines of Business and Functions to have met the standard of risk management and risk reporting. Advise and challenge the Lines of Business and Functions on all aspects of material Internal and External Fraud Risk, ML and Sanctions events. Responsible for advising and guiding in setting AML and Fraud Risk appetite and performing oversight activities. Develop a robust communications strategy supporting the awareness of Fraud, ML and Sanctions Risks and Policies across the Lines of Business and Functions, including Compliance. Drive Regulatory and cross-Industry engagement and innovation in tackling the challenges posed by Fraud, ML and Sanctions Risks. Act as point of contact for internal and external stakeholders in relation to AML, Sanctions and Fraud Risk. Act as the deputy of Head of Financial Crime HASE HK. Requirements Seasoned professional with subject matter expertise and experience in delivering AML, Sanctions and fraud risk management. Detailed and extensive knowledge of the HASE structure, its business and personnel, and corporate culture, with specific knowledge of AML, Sanctions and Fraud Risk. Intricate knowledge of the external environment — regulatory, political, competitors with respect to AML, Sanctions and Fraud Risk industry best practice. Ability to present complex issues confidentially and concisely to Group Executives and Regulators using simple language to accommodate globally distributed stakeholders. Significant leadership experience and an experienced strategic thinker. Excellent communication and inter-personal skills, with experience of dealing with executives at all levels. Outstanding relationship management, collaboration and influencing skills. Previous experience in risk management within a global organization, working across cultures and within a complex matrix structure. Ability to lead change in HASE HK, contributing to joining up with other teams in Risk & Compliance and Businesses

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