Nomura Overview
Nomura is a Global financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm practices disciplined entrepreneurship while building on a long tradition of serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.
Job Summary
The IWM Operations Client Services team has a regional exposure covering the controls against money laundering and terrorist financing for different entities of Nomura in the region. The requirements for compliance are conferred by regulations and guidelines in different countries. The IWM Ops Client Services team focuses primarily on wealth management business and is supporting an ambitious expansion plan. The role will also work with the IWM Business stakeholders on transformation initiatives and help in the overall IWM Build out.
Responsibilities
- Understanding of overall and specific risks within the process, controls available to mitigate such risks and open risks, in supporting the business. Document the open risks, assess magnitude and formulate actions. Ensure risks, controls, procedures and enhancements are documented / updated appropriately and sit within the remit of applicable policies. Encourage transparency within the onshore and offshore teams in highlighting and escalating gaps / issues / outliers.
- Able to provide the leadership to the team for running the on-boarding or rolling review process on a timely manner or ahead of schedule.
- Able to manage offshore teams and monitor performance based on agreed SLA’s and KPI’s to finally own delivery to the IWM Business.
- Able to attract, train and retain talent in the team and work proactively on developing individuals within the team to take additional responsibilities
- Able to provide proper guidance to the team on required standard and ensure delivery of quality review without major defects.
- All existing clients KYC is refreshed on periodic basis and necessary escalation is performed.
- Ensure client information and documents are validated & updated correctly on the systems for seamless feed to other internal systems and reporting (Internal, regulatory etc.).
- To monitor and manage the new accounts in the pipeline based on priority / agreed SLA; and rolling review accounts in the pipeline without overdue.
- Ensure client classification is applied in accordance with the prevailing rules and regulations in Hong Kong, Singapore DIFC Dubai and any other offshore wealth centres.
- Continuously work with FCC, Compliance, Legal, Business on completing KYC and client information updates.
- Identify system / process enhancement focusing on controls and efficiency and work with different stakeholders to implement.
- Face Internal & external Auditors or regulators and have good understanding of process to provide process walkthrough and samples.
Requirements
Technical Skills/Competencies
- Minimum of 10 years’ experience managing Wealth Management Client Onboarding, KYC Operations processes
- Proven track record of managing capacity by metrics and manage expectations from business on cycle time, capacity in number of accounts and quality
- Experience in managing transition of roles and ensure process knowledge is documented and training of off shore teams is continual and effective
- Experienced in KYC requirements by MAS and Asia regulators
- Have a good understanding about the tax implication when on-boarding a new clients or perform a support of change in circumstance.
- Experience in managing expanding Wealth Management Operations will be added advantage
- Ability to understand different risk types associated with Clients (Individuals, Private companies, corporation)
- Strong skills in documenting & storing exceptions and approvals
- Flexible and quick to adopt change in policies, systems and requirements
- Has intermediate knowledge on MS Excel (Formulas, Pivot and Vlookups, etc.) and MS Power points
- Knowledge and experience on Robotics (e.g. UiPath) and Data Visualization Tool (e.g. PowerBI) is a plus
Governance, Risk and Controls
- Experience in compliance, risk management or operations with an investment bank or financial services firm for Wealth Management business
- Ability to work with minimal supervision, oversight and with cross region teams
- All KYC breaches, near misses or risk events will be managed and escalated where necessary.
- The individual will be required to deliver updates of KYC procedures, understand the policy and implement the operations changes and procedures required to meet the policy requirement
- Able to handle reasoning and justification on KYC matters to AML Compliance and Legal teams
- Able to lead remote teams, WFH hybrid working styles and still keep controls and team environment unaffected
Stakeholder management
- Fact based and ability to understand the risk involved and highlights the same across levels
- Detail-oriented in order to understand all requirements at one go
- Managing Business stakeholders - Ability to handle business supervision teams and Sales. Need to have good negotiation skills to plan the pipeline and negotiate the timeline
- Able to handle any prioritization discussions, escalations and assign cases to the team based on capacity
- Ability to clearly list down automation requirements and work with Technology partners to enable solutions for manual processes.
- Has experience in written and verbal communication with AML, Compliance, legal, Internal Audits
Diversity Statement
Nomura is committed to an employment policy of equal opportunities and is fundamentally opposed to any less favourable treatment accorded to existing or potential members of staff on the grounds of race, creed, colour, nationality, disability, marital status, pregnancy, gender or sexual orientation.
DISCLAIMER: This Job Description is for reference only, and whilst this is intended to be an accurate reflection of the current job, it is not necessarily an exhaustive list of all responsibilities, duties, skills, efforts, requirements or working conditions associated with the job. The management reserves the right to revise the job and may, at his or her discretion, assign or reassign duties and responsibilities to this job at any time.
SFID: 7429
