Financial Crime Compliance Deputy Country Head Hong Kong

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Credit Suisse Asia
  • 26 Sep 16

Financial Crime Compliance Deputy Country Head Hong Kong

Credit Suisse Company Overview Credit Suisse is a leading global wealth manager with strong investment banking and asset management capabilities. Founded in 1856, Credit Suisse has expanded to be a global force employing over 45,000 people in 50 countries. With new leadership, a new strategy and a streamlined global organization, we are set for growth. We partner across businesses, divisions and regions to create innovative solutions to meet the needs of our clients-and to help our employees grow. It is a high priority for us to continually invest in our employees by providing ongoing opportunities for training, networking and mobility. Join us and let's shape the future of Credit Suisse together.

We Offer...
The role will be responsible for overseeing all Financial Crime Compliance (FCC) matters affecting the APAC business for Hong Kong. As part of this role, the individual will need to ensure the FCC program and applicable local Hong Kong laws and regulatory requirements are duly and effectively implemented in the business. The individual will be required to work closely with the Country Head of FCC and Regional FCC Management to identify FCC risks and fostering a culture of compliance within the bank. The individual would be responsible for managing part of the HK FCC team in discharging these responsibilities and to support the Country Head to deliver the following elements of the program. The individual will be the registered manager/MLRO for the applicable HK legal entities.

  • Client Acceptance - where necessary support team to:
    • Provide advice and assistance to the team and Front office on the Firms KYC requirements
    • Addressing escalated issues as and when is necessary
    • Review exceptions
    • Apply the firms risk based approach and ensure effective risk management
    • Ensure appropriate matters are escalated through the reputation risk process
  • Oversee Transaction Monitoring - where necessary support team to:
    • Review MANTAS Alerts generated to ensure independent monitoring of transactions
    • Conduct threshold reviews on MANTAS
    • Review Background Reports to ensure timely documentation and reporting by RMs
    • Liaise with Operations staff and/ or RMs/ARMs to ensure completeness in conducting the monitoring of transactions to mitigate the FCC risks of the branch
    • Co-ordinate with Singapore and Switzerland on specific transactions that require detailed co-ordination with RM, with respect to SR accounts
    • Conduct random sampling to ensure correct and independent approach
  • Oversee Payment Screening - where necessary support team to:
    • Review Alerts from Fircosoft
    • Make immediate response to and liaison with Operation staffs and/or RMs/ARMs to ensure clarifications are received in timely and meaningful manner
    • Co-ordinate with Singapore and Switzerland on specific transactions that require detailed co-ordination with RM with respect to SR accounts
  • Oversee Client Screening - where necessary support team to:
    • Review Alerts for World-check FCC Client Screening
    • Make immediate response to and liaison with Operation staffs and/or RMs/ARMs to ensure clarifications are received in timely and meaningful manner
    • Co-ordinate with Singapore and Switzerland on specific transactions that require detailed co-ordination with RM with respect to SR accounts
  • Oversee Periodic Client Reviews (PEP, Sensitive PEP, HRC, Major Client & DDC-R) - where necessary assist team to:
    • Conduct periodic client reviews including DDC, Enhanced Due Diligence and PEP in accordance with local requirements and global policy
    • Verify the validity of active client classifications and client data in system and files, and ensure documentation on file is current
  • Projects
    • Identify and undertake projects to improve the process and application of FCC Compliance's policies and procedures as and when required, utilizing technology where possible. For example system enhancements - Fircosoft, MANTAS, RM portal and on-line DDC and DDC-R, Shared Relationships, UAT testing etc.
    • Remediation of any findings issued by Regulators or Auditors
    • Policy and Procedures Review and Development
    • Review and advise on CS FCC policy and procedures in order to ensure CS maintains appropriate policy standards and processes in light of new technologies, best practices and changing regulatory requirements
    • Ensure a consistent approach is applied between the PB locations
  • Training
    • Provide training on FCC requirements to Front office and Operations staff and other Departments as required
    • Consider New Product /New Business Approvals
    • Provide FCC input for new business, products, services or delivery channels that may involve FCC risks
  • Document Assessment
    • Ensure appropriate escalation to Regional management as appropriate
    • Management Information Reporting
    • Provide management with sufficient, frequent and objective information to get an accurate picture of the ML risks the bank is exposed through its activities and individual business relationships as well as the effectiveness and adequacy of controls and processes
  • Audits, Inspections and Regulatory Requests
    • Manage any FCC relevant audits or inspections, including liaise or coordination of audit matters and drafting management responses etc.
    • Respond to relevant production orders, regulatory enquiries, requests for information or documentation
  • FCC Risk Assessment
    • Contribute to CS annual risk assessment process and deployment of remedial actions
  • FCC Controls Program
    • Support the Regional Quality Assurance team as appropriate in performs appropriate controls testing include sample testing or review of exception reports to ensure the FCC Program, controls and processes are in line with expected program standards
  • Team Management
    • Provide direction & guidance for team members
    • Manage welfare of the team to maintain team morale
    • Ensure adequate & appropriate training for team members
    • Staff retention
Others:
  • Daily FCC Advisory Work
  • Participate in monthly conference call on Shared Relationships accounts;
  • Conduct training
  • Support ACG and other CCG Teams as FCC representative in related initiatives
Key Accountabilities:
  • Business Focus:
    1. APAC for HK based RMs
  • Functional Focus:
    1. Policy and Procedure
    2. Enhanced Due Diligence/ PEP Client Reviews
    3. FCC Surveillance
    4. Sanctions and Sensitive Countries Compliance;
    5. Investigation
    6. Training
    7. Administration & Controls
    8. Shared Relationship
    9. Ad hoc project e.g. Anti-Bribery


You Offer...
  • Background and Education:
    • Accounting / Business / Economics / Finance Degree
    • At least 5 to 8 years of FCC advisory experience including experience with transaction monitoring
    • Part of the experience would need to be within the Private Banking space
    • Solid knowledge of Hong Kong FCC/CFTlaws and regulation applicable to Banking and international FCC standards. Additional awareness of regional rules would be beneficial
    • Managerial experience
    • Experience with dealing with the regulator
  • Key Attributes:
    • Need to be a FCC Subject Matter Expert with a proven track record
    • Excellent leadership, interpersonal and communication skills with the ability to demonstrate assertiveness
    • Lead by example, and managerial experience in managing and getting the best out of a small team
    • Able to interact and pro-actively advice the business, Regional FCC and senior management
    • Due to the demands of the business and dealing with counterparts in Hong Kong and China, Mandarin and/ Or Cantonese language ability would be preferable


EEO Statement
Credit Suisse is an equal opportunity employer. Welcoming diversity gives us a competitive advantage in the global marketplace and drives our success.