Responsibilities:
• To assist in ensuring that the business operates in compliance with relevant legislations/regulations, by giving advice on compliance implications of business decisions, both for on-going issues and in project decisions.
• Keep abreast of developments in the local regulatory and HO requirements and monitor the bank’s compliance with these requirements.
• Review AML/CFT monitoring reports as well as provide advice and interpretation on specific AML/KYC compliance policies, procedures and topics.
• Assist in the remediation and/or follow up on the remediation of any compliance and AML/CFT-related control deficiencies identified by the regulatory authorities as well as internal and external auditors
• Help ensure consistency in interpretation and application of existing and new regulatory requirements for both local regulators and Head Office in China.
• Assist in ensuring that policy changes (compliance and AML/CFT-related) disseminated from Head Office and local regulators are communicated to management and relevant departments
• To help develop a proactive, integrated compliance approach interacting with all staff to promote the desired culture and behaviors.
• To support management through the provisions of training and identification, evaluation and resolution of compliance risk as well as implementation of new policies.
• Investigate suspicious transactions/alerts/regulatory breach/non-compliance matter to HOD / Management, prepare suspicious transaction reporting to STRO (CAD) and MAS where applicable
• Conduct compliance testing on compliance and AML/CFT-related controls and follow up on remediation of any deficiencies identified and assist in executing periodic compliance risk assessment.
• Assist in preparation of reporting to regulatory authorities, Head Office and Management
• Undertake any other tasks and responsibilities as assigned by Management or Head of Compliance
Requirements:
• Bachelor degree in finance or similar from a reputable university
• Professional qualifications such as Certified ACAMS preferred
• Minimum 15 years relevant working experience in banking industry with at least 5 years’ direct compliance experience
• Self-motivated, meticulous and able to multi-task/work independently
• This role requires the incumbent to communicate with Head Office colleagues in Chinese and able to read and write Chinese reports
• Excellent communication and interpersonal skills
