Wealth Management - Compliance - Vice President
Position Overview Responsibilities:
- Key focus of this role is to lead the product related compliance function within the wealth management business.
- Review and approval new products as part of the new product approval processes;
- Provide Compliance advice/requirements to the business for new projects;
- Lead or assist in any Compliance projects as necessary;
- Provide compliance advice with regard to applicable rules and regulations of wealth management ("WM") business, and internal compliance policies and procedures from Hong Kong perspective, or as it impacts the Hong Kong business;
- Review and assess all new and updated circulars and other regulatory developments that impact WM and ensure regulatory adherence or implementation are completed
- Coordinate and provide appropriate guidance for regular or ad-hoc surveys, questionnaire and information requests required for regulators relevant for the WM business; and ensure timely submission;
- Track all relevant meetings with regulators as it pertains to the WM business, ensure all issues raised in such visits, reviews and inspections are tracked, agreed, escalated promptly and appropriately with relevant documents being provided on a timely basis;
- Ensure full cooperation with regulators; work with Legal and other Compliance colleagues in responding to SFC, HKMA and other regulatory enquiries,;
- Escalate timely issues and provide regular Management Information to Senior Management of Compliance;
- Coach direct reports and others in the organisation, as appropriate.
- Assess outsourcing requests that impact WM, together with central compliance team
- Investigate and resolve referrals from compliance surveillance team for WM specific cases;
- Supervise the review and provide Compliance approval for marketing materials and marketing events for the WM business;
- Provide Compliance support on sales related complaints;
- Provide induction training to new joiners in WM and other ad-hoc training in relation to compliance matters or relevant procedures that impact WM;
- Advise business to establish adequate level 1 controls and set up effective level 2 compliance monitoring program including cross-border activity, suitability and other areas, as required;
- Develop relationships with relevant Infrastructure functions that support the WM business and maintain the partnership between business line Compliance and other Compliance, Regulation and Anti-Financial crime functions
- University graduated with at least 10 years in the banking industry, and preferably with Wealth Management exposure or work experience with regulators such as HKMA or SFC.
- Familiar with banking and/or securities related rules and regulations, and knowledge of the global banking practices and regulatory environment.
- Good communication and interpersonal skills with ability to build good working relationships with different business and operations departments.
- Able to demonstrate strong leadership, and at the same time, a good teamwork player.
- A strong sense of accountability and be ready to take up challenging responsibilities.
- Attention to detail, efficient and strong organisational skills.
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