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Executive Director, Head of Transaction Monitoring and Investigations, Global Financial Crime Compliance, APAC

Req #: 170118626
Location: Hong Kong, , HK
Job Category: Compliance
Potential Referral Amount: 40000 Hong Kong Dollar (HKD)
Purpose of Position
Responsible for managing and overseeing the transaction monitoring and investigation program in APAC to ensure that (i) an effective and up-to-date transaction monitoring system is maintained; (ii) transaction alerts are dispositioned and escalated properly; (iii) suspicious activities are identified and reported via Suspicious Activity Reports (SARs) filing with local law enforcement or other government agencies (working closely with local Money Laundering Reporting Officers (MLROs) to ensure local requirements are met); and (iv) the Firm-wide transaction monitoring framework is implemented in APAC.
This includes responsibility for managing the following Transaction Monitoring functions: (i) Coverage Strategy (Analytics & Design); (ii) Financial Intelligence Unit (FIU); and (iii) Alert Operations and Investigations.
  • Ensure that the transaction monitoring system complies with the applicable regulatory requirements and is effective in detecting activities of the latest money laundering typologies and trends
  • Oversee governance and effectiveness of the AML Coverage Strategy, Alert Operations, Investigations, and SAR filing processes, deploying standardized metrics and quality assurances processes in the region
  • Review and act on Alert Operations, Investigations, and SAR related management information at an APAC level as required per firm's MIS reporting framework
  • Work with law enforcement and government agencies (together with the MLROs) to develop policies, standards and practices
  • Deal on a timely basis with enquiries from regulators, law enforcement bodies and internally from the business and present on a regular basis to various stakeholders both internal & external
  • Manage the overall coordination and oversight of the Firm's compliance with SAR reporting obligations, pursuant to the Bank Secrecy Act (BSA), which contains specific reporting and recordkeeping requirements, and other applicable requirements in APAC
  • Set policy and standards for effective program execution, and provide advice and consultation to referral and filing units in the region to ensure both global and regional standards and policies are effectively implemented
  • Ensure all functions are aligned with the Global AML Transaction Monitoring & Investigations strategy, involve regular interactions with stakeholders across all regions, in particular Head Office
  • Establish and maintain functionally-aligned but managerially-segregated quality testing (quality assurance)
  • Continue to work with Head Office to develop the FIU function
  • Lead a regional governance forum to coordinate change management activities with LOBs and other Corporate functions
  • Provide updates to senior management on the overall effectiveness of the program
  • Lead the group, integrate and manage the team to ensure appropriate skill sets
  • Deliver and track progress of both team and regional Investigations training and testing programs to close
  • Drive and manage implementation of AML related projects and support other AML units on an ad-hoc basis
  • Law / Accounting / Business / Finance degree
  • Minimum 10yrs of relevant senior compliance management experience in risk or AML related discipline, preferably with a global financial institution
  • Expert in AML / Financial Crime regulations in APAC, including in-depth practical experience in implementing/advising on AML Monitoring & Investigations and SAR filing matters
  • Experience in regulatory investigations, exam, and audit management
  • Experience in handling US regulatory matters (e.g. Office of the Comptroller of the Currency, Office of Foreign Assets Control) and other similar global/regional implementations is preferable
  • Ability to develop and maintain productive relationships with key internal clients across all levels, especially senior management
  • Ability to drive and manage productive and professional regulatory relationships
  • Strong management and organizational skills
  • Solution driven approach, with exemplary problem solving skills
  • Strong analytical ability
  • Ability to prioritize
  • Excellent written, verbal and interpersonal communication skills
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