Anti-Financial Crime - Business Line AFC Officer - Wealth Management - Vice President Anti-Financial Crime - Business Line AFC Officer -  …

Deutsche Bank
in Hong Kong
Permanent, Full time
Last application, 21 Oct 20
Deutsche Bank
in Hong Kong
Permanent, Full time
Last application, 21 Oct 20
Anti-Financial Crime - Business Line AFC Officer - Wealth Management - Vice President
Position Overview

Details of the Division and Team:

Deutsche Bank (DB) is committed to the highest standards of Anti-Money Laundering (AML), Sanctions & Embargoes, Anti-Bribery and Corruption (ABC) and Anti-Fraud & Investigations (AF&I) and wider Financial Crime (collectively referred to as Anti Financial Crime) prevention. The Management and all employees are required to adhere to these standards to prevent DB and our reputation from those who may intend to use our products and services for money laundering, bribery, corruption, fraud and/or Terrorist Financing (TF) purposes.

DB Group will examine its Anti-Financial Crime (AFC) strategies, goals and objectives on an ongoing basis and maintain an effective program for DB's business that reflects the best practices for a diversified, global financial services provider. The AML team sits within the AFC function.

Our AFC team is responsible for protecting Deutsche Bank from financial and reputational losses incurred by financial crimes by assessing, controlling and mitigating risks. Risk types related to Anti-Financial Crime are consolidated in a comprehensive and effective risk management framework that covers Anti-Money-Laundering, Sanctions & Embargoes, Anti-Bribery & Corruption as well as Anti-Fraud & Investigations.

What we will offer you:

A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That's why we are committed to providing an environment with your development and wellbeing at its center.

You can expect:
  • Competitive Salary and non-contributory pension
  • 20 days annual leave plus generous number of public holidays
  • Life Assurance and Private Healthcare for you and your family
  • A range of flexible benefits including retail discounts, gym benefits, wellbeing incentives
  • The opportunity to support a wide ranging CSR program plus take volunteering leave day

Your key responsibilities:
  • The AMLO has unrestricted access to all information, data, records and systems in the Bank he/she deems necessary to fulfil its function. Leading a Hong Kong Wealth Management (WM) AFC Team and having a reporting line up to the APAC WM Business Line AFC Head. Ensuring appropriate reporting and escalation of issues and/or incidents to the MLRO, Local Head of AFC and/or Regional Head of AFC.
  • Monitoring local regulatory developments and notify relevant changes to the MLRO and Regional Head of AFC as well as developing and implementing new policies, procedures and controls in order to address new legislative or regulatory requirements. Discharging the responsibilities of local AML officers as set out under global KYC policies.
  • Providing AFC advice to the Wealth Management businesses including, but not limited to, control oversight, AFC policy & local regulatory requirement, Counter-terrorist and Proliferation Financing advice. Providing client consultation and risk based escalation channels to the businesses.
  • Reviewing New Product / Transaction Approval Requests and signing off in Vendor Risk Management processes where appropriate; Reviewing Client Escalations (Incl. High Risk Client Review (NCA, RR & EDR)), and referring escalations to AFC Specialists, as appropriate. Reviewing Client risk Rating Modification (Override) Requests; Reviewing and approving PEP and PEP Reclassification; Reviewing, approving and escalating Waivers (Temp/Perm), as appropriate.
  • Overseeing the follow-up on conditions imposed through approvals and implementing a log of all consultations/ escalations / Requests for information. Reviewing transaction monitoring alerts, Investigate unusual and/or potentially suspicious cases, and file Suspicious activity report to relevant authority. Ensuring that local record keeping processes are in alignment with the AML related legislative, regulatory and internal requirements. Knowledge sharing of best practices with AFC/AML Officers by involving in regional calls or other forum.
  • Conducting the local AML Risk Assessment; Recommending and managing client rejection / exit recommended by AFC; Coordinating responses and input for MI reports requested by Global AFC or the AFC reporting function; Developing action plans to address risks or control gaps; Developing, delivering and overseeing AML training for the Business as required; Providing briefings and constructing appropriate reports to present to senior stakeholders; Representing the function in governance and business oversight committees; Acting as a recognised point of local escalation and contact for matters within the Hong Kong; Building and ensuring relationship management of diverse business units.

Your skills and experience:
  • Minimum 8 years of experience in AML Advisory Compliance
  • Experience in Private banking/Wealth Management
  • Ability to read Chinese is an advantage
  • Knowledge of wealth management product is an advantage
  • Robust, credible and organizationally/politically savvy, with an ability to grasp complex issues quickly

How we'll support you:
  • Flexible working to assist you balance your personal priorities
  • Coaching and support from experts in your team
  • A culture of continuous learning to aid progression
  • A range of flexible benefits that you can tailor to suit your needs
  • Training and development to help you excel in your career

About us and our teams:

Deutsche Bank is the leading German bank with strong European roots and a global network. Click here to see what we do.

Deutsche Bank & Diversity

Our values define the working environment we strive to create - diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.

Click here to find out more about diversity and inclusion at Deutsche Bank.

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