This role is reporting directly to the Chief Compliance Officer (CCO), the role remit will firstly be to support and protect the business against Money Laundering Risk (including Counter-Terrorist Financing and sanction risk), Fraud, Internal Fraud, Security and related reputational risk (together “FCC Risk”) and secondly to ensure a swift and effective detection of money laundering activity and embed anti money laundering legislation, rules and guidance throughout the business. There are three direct reports.

The scope of this role is very broad and encompasses a wide variety of tasks and responsibilities. Duties will include the following:

• Manage and maintain a cost-effective Financial Crime Compliance team, supporting and protecting the business against FCC and ensuring that the needs of all stakeholders are balanced and satisfactory met within permissible parameters
• Manage and set departmental and individual goals and targets for the Financial Crime Compliance Team
• Responsible for the development, implementation and maintenance of an effective tactical and strategic FCC program for the Bank
• Monitoring regulatory FCC developments and notifying relevant changes and ensure the design and implementation of new/amended FCC controls are effective
• Maintenance of procedures and systems, and to prepare appropriate MIS to ensure suspicious or potential suspicious transactions are timely identified and reported, in compliance with applicable FCC rules.
• Discharging the responsibilities of FCC teams as set out under the Bank’s FCC related risk framework and policies
• Delivering FCC regular training program to maintain staff awareness culture
• Ensuring that record keeping processes are in alignment with all applicable FCC laws, rule and guidelines
• Conducting regular FCC compliance risk assessment
• Performing FCC monitoring and reviews
• Investigating suspicious or potential suspicious and ensuring timely escalation to the CCO for reporting to the competent authorities in compliance with applicable rules
• Handling transaction monitoring escalations from business units and functions
• Providing regulatory guidance and advice on new or existing clients that are escalated, or decide to escalate further
• Having oversight on the tracking and following-up on the conditions that have been imposed as part of the CDD approval. Obtaining relevant MIS from the business units or functions and/or appropriate parties on status of regular reviews
• Signing-off in the New Product Approval and Vendor Risk Management process where appropriate and relevant to FCC
• Coordinating responses and input for MI reports requested by CCO
• Understand and have continuing knowledge of FCC requirements to ensure that the AML program is consistent with all applicable local laws, regulations and rules and that the FCC program is updated, as required, in light of changes to local laws, regulations and rules
• Develop and manage a regular monitoring and reporting process to inform senior management, the audit committee and the board, as necessary and required
• Ensure that all activity and transactions that are identified as potentially suspicious are investigated, reviewed and resolved in accordance with established procedures
• Coordinate and address issues raised in internal audit reports, self-assessments, compliance reviews or regulator’s examination about FCC related policies and procedures
• To personally manage and where appropriate carry out high profile/sensitive FCC related investigations
• Establish and maintain liaison with local financial industry representatives to proactively identify current fraud trends, criminal activity and the identification of organised criminal groups and influence security best practices
• Liaison with national and international law enforcement entities and liaison with local financial industry representatives to proactively identify fraud trends/criminal activity and organised criminal attacks.

Given the level at which this role is operating, applicants will need to have excellent knowledge of all aspects of financial crime in relation to financial services. You will have the ability to communicate effectively and influence the senior Management Team and external parties and be able to apply FCC provisions including CDD to a fast paced and diverse business environment. A good working knowledge and understanding of HKMA AML Framework and operation will also be advantageous as well as the ability to develop and maintain a network of relevant contacts within Hong Kong and, where appropriate, international financial institutions, regulatory bodies, law enforcement and professional groups.

• Minimum 12 years of experience in Financial Crime Compliance in international banks in Hong Kong
• Knowledgeable and experienced in governance and Financial Crime Compliance policies and procedures with knowledge on Fintech Financial Crime Compliance risk and advisory
• Knowledgeable in banking and wealth management products and associated risk
• Able to communicate and present to senior management or business partners
• People management experience is preferred