Assistant Manager Compliance

4 days ago

Hong Kong Island, Hong Kong SAR China Mashreq Full time

Maintain ongoing awareness/knowledge of all applicable domestic and international AML & Sanctions requirements (including guidelines issued by international bodies such as FATF, Basel, Wolfsberg, etc.); recommend enhancements in Compliance controls / processes / systems to Compliance Manager to comply with evolving Sanctions & AML regulations.

To assist the Head of Compliance & MLRO in managing the overall regulatory obligations received from HKMA for MBHK, including in relation to policies and procedures to counter the risk of financial crime and in ensuring branch's compliance with the local regulatory regime to maintain the bank's integrity and reputation and global regulatory environment, and to prevent regulatory breaches or failures.

Key Result Areas:

  • Implement the Group Compliance policies by performing gap analysis against local regulations.
  • Assist on specific local regulatory/other ad hoc projects business & compliance initiatives such as FCRA, trouble-shooting and relevant system updates.
  • Review Sanctions referrals received from Operations/Business on customers' payments & trade transactions and provide decisions in line with Bank's AML/CFT & KYC policy and multiple international sanctions programs.
  • Review and mitigate Sanctions risk associated with the bank's correspondent banking and trade finance business.
  • Ensure effective AML monitoring, covering all relevant accounts/product/activities in line with the bank's policy and that of the HK regulatory guidelines.
  • Conduct AML reviews of customer accounts based on AML Alerts and Analytical reports generated by the unit.
  • Assist the Head of Compliance & MLRO with conducting money laundering related investigations by analyzing customer transactions / trends, drawing conclusions, and drafting Suspicious Activity Report (SAR) for submission to the JFIU.
  • Review & recommend changes in Compliance systems parameters, rules i.e., AML Monitoring System and Payment Screening System of the bank.
  • Evaluate Compliance systems on regular intervals and proactively escalate critical issues and recommend solutions.
  • Support business/operations by providing advisory to regulatory requirements and intervene where necessary to further investigate a transaction / process / business proposal.
  • Maintain ongoing awareness of all internal/external audits, assist MLRO in the implementation of audit recommendations and observations within the deadline.
  • Assist in preparation of certain Reports/MIS on Compliance & MLRO issues and ensure that the same is provided on a timely manner. Escalate promptly to the same any potential delays, incompleteness, or inaccuracies in any reports to be submitted to regulators and/or any critical issues.
  • To oversee the branch customers' local regulatory requirements related to KYC including reviews as per HK regulations and associated analysis completing Enhanced Due Diligence (EDD) where required.
  • To ensure the efficient identification, processing and monitoring of the branch's KYC and local due diligence requirements.
  • Provide AML/KYC support consulting with key stakeholders in the business lines including local RMs and HO FI KYC team to ensure timely and accurate updating and local record keeping.
  • Perform additional tasks / conduct Compliance related investigations as required / determined by Manager Compliance / Head Of-Compliance, identifying any issues / concerns and report findings/recommendations for corrective action as required.

Knowledge, Skills and Experience:

  • Graduate with approximately 7-10 years banking/AML/financial crime/Sanctions experience in Financial institution.
  • Good knowledge and understanding of local financial crime (including AML/CFT) legislation, HK financial regulatory requirements and international best practices in Compliance.
  • Knowledge and Understanding of International Sanctions.
  • Systems expert with advanced knowledge of MS Excel reports and Banking Systems.
  • Computer literate and good command of spoken and written English.
  • Efficient and logical approach to problem solving.
  • Strong administrative and interpersonal skills and ability to work as part of a team.
  • Qualification in ACAMS or HKIB ECF (AML/CFT)/Compliance certification preferred.
Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Other

Industries

Banking and Financial Services

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