Vice President, AML and Sanctions Advisory

Mandatory Reference Checking Scheme (“MRC”) for Hong Kong

The Mandatory Reference Checking Scheme is a framework to facilitate Authorized Institutions (“AIs”) to bilaterally obtain reference information during their recruitment process for certain positions, such that misconduct information in an individual’s previous employments can be provided to AIs to inform their employment decisions.

For information related to MRC Scheme, “Frequently Asked Questions for In Scope Individuals” is published by HKAB/Industry Guidelines (https://www.hkab.org.hk/en/home) or further information will be available upon request, if it is applicable to the position(s) applied.

Country of Location:

Job Responsibilities:

• Assist the Bank to provide anti-financial crime, AML and sanctions support to the relevant activities and operations of CNCB in Hong Kong (e.g. CNCB Hong Kong Branch)
• Liaise with CNCB and handle relevant examinations, surveys, enquiries, request, etc. from CNCB
• Act as point of contact between CNCB and CNCB Hong Kong Branch on AML and sanctions related matters
• Develop and implement compliance policies, procedures and monitoring programme on AML and sanctions related activities to mitigate ML/TF and sanctions risks
• Provide prompt and constructive advisory support to BUs and SUs, Overseas Branches and Subsidiaries where appropriate in order to ensure the Bank complies with AML/CFT, FATCA and CRS requirements
• Review and advise on enquiries or issues escalated by BUs/SUs and CNCB Hong Kong Branch in relation to matters linking to KYC/CDD, FATCA/CRS, AML and sanctions control processes, etc.
• Provide ML/TF and sanctions risk management advice to evaluate the impact and magnitude of the risks, and recommend mitigating actions
• Support FATCA and CRS internal implementation (including project and enhancement) and coordinate the reporting tasks for the Bank and CNCB Hong Kong Branch
• Assist BUs in the review of customer relationships for the purpose of complying with KYC/CDD requirements; make recommendations to management regarding the provision of approval/concurrence when establishing/continuing business relationship with higher risk customers
• Liaise with regulators and handle regulatory examinations, surveys, enquiries, information requests, etc. raised by regulators from time to time
• Assist in reviewing, enforcing and implementing AML and sanctions policies and procedures of the Bank and CNCB Hong Kong Branch and relevant internal operational manuals according to the latest regulatory requirements and practices
• Assist Deputy General Manager of AML & Sanctions Advisory to advise management on compliance issues and potential impact caused by relevant regulatory developments in the AML and sanctions related area
• Perform tracking on unresolved examination/audit issues and assist in the issue resolution process
• Enhance AML and sanctions compliance awareness among staff through provision of relevant training materials and knowledge sharing
• Conduct transaction screening and transaction monitoring, and escalate any suspicious transactions to MLRO

Requirements:

• Degree holder in Law, Accounting or related disciplines;
• Minimum of 6-8 years legal, general audit or compliance experience, preferable in a sizable financial institution and/or regulatory bodies;
• Good knowledge in banking laws, operations, products and services in relation to Hong Kong and preferably China;
• Good knowledge of AML and sanctions compliance and relevant regulatory requirements in the areas of AML/CFT, FATCA and CRS;
• Excellent command of both written and spoken English and Mandarin is preferred.