Head, Private Wealth Management (PWM) GFC, Executive Director, Hong Kong

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Morgan Stanley
  • 23 Nov 17 2017-11-23

See job description for details

Company Profile
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile
Professionals within Legal and Compliance provide a wide range of services to our business units. They might help to structure a complex and sensitive cross-border transaction; advise on a new product introduction; develop a training program or defuse an investor dispute. They preserve the firm’s invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that meet regulatory requirements around the world. They also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firm’s businesses.

Background on the Team
Morgan Stanley’s Global Financial Crimes (GFC) Group, an integral part of the global Legal and Compliance Division, is charged with day-to-day oversight and coordination of the AML and Sanctions Program covering all of the Firm's various businesses globally, including Institutional Securities Group (e.g. Fixed Income and Commodities, Global Capital Markets, Institutional Equities, Investment Banking, Wealth Management and Research) and Investment Management.

Headquartered in Hong Kong (HK), the Asia (including Japan) GFC Group includes dedicated personnel in Singapore, Australia and Tokyo.

Background on the Position
Morgan Stanley is currently seeking a driven and seasoned professional to serve as the Head of Private Wealth Management (PWM) Asia GFC Group in coverage of the PWM AML program with the following areas of focus:

• AML Policy & Procedure
• Advisory
• High Risk Client Reviews
• PEP Reviews
• Client Screening
• Payment Screening
• Suspicious Transaction Surveillance & Reporting
• OFAC/Sanctions Issues
• Client reviews/enquiries
• Reports & Statistics (Local & Global)
• Training
• Sensitive Client Reviews
• Thematic Reviews
• Review & Documentation of AML Group Procedures

Primary Responsibilities
Based in HK and reporting to the Head of Asia GFC, this role will be primarily responsible for:

• Manage the day-to-day operations of the (PWM) Asia GFC Group with a staff of 20+ professionals located in HK and Singapore

• Serve as lead representative for PWM GFC to Internal Audit, Regulators (e.g. HKMA, MAS, etc.) and Legal & Compliance Division

• Serve as lead representative for PWM GFC on governance committees both locally in APAC and Globally within Morgan Stanley

• Responsible for appropriate management information reporting

• Monitor regulatory developments and new rules or requirements

• Advise on, and resolve, potential AML issues arising across business unit and jurisdictions covered by the PWM Asia GFC Group. Includes regularly interacting with senior business management
• Supervise transaction monitoring and AML surveillance

• Oversee and supervise payment exceptions process through the monitoring of client payments

• Oversee and supervise the filing of Suspicious Transaction Reports (STR)
• Supervise know-your customer and client due diligence processes
• Manage day-to-day account opening issues, including approvals of high risk clients, PEP, waivers etc.
• Manage projects and client reviews, e.g. review and analysis of the client base to identify and manage high risk clients
• Responsible for the drafting and implementation of appropriate AML policies and procedures
• Design and deliver AML training program*LI-SC2


Skills required (essential)
• Bachelor’s degree
• At least 12 years of relevant experience in AML Compliance, Due Diligence or Regulatory preferably relating to Private Wealth Management / Private Banking
• Experience in the securities or broker-dealer business would be an asset
• An analytical mind with attention to detail and team management experience
• Strong oral and written communication skills in English
• Fluency in Asian languages (such as Cantonese, Mandarin) advantageous
• Ability to independently interact with senior business management
• CAMS qualified