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Department: Compliance
Title: Head of Compliance
Subordinates: Compliance Assistant

Position Summary:

Responsible for ensuring that the bank is compliant across all of the key regulatory areas; Accountable to both local management and Head Office

Position Accountabilities:

• Ensuring that departmental procedures are reviewed and updated at least annually and that these are copied to Head Office;
• Liaising with Head Office Compliance on Compliance matters.

Compliance Officer:

• Meeting FSA regulatory requirements;
• Drafting and revising compliance policies and procedures;
• Compliance Control and Monitoring.

Anti-Money Laundering Officer (MLRO):

• Meeting AML regulatory requirements for both FSA and HKMA, and adopting best practice with reference to JMLSG Guidelines;
• Drafting and revising AML policies and procedures;
• Day to day AML / ATF tasks;
• Dealing with SAR / STR / SOCA reports;
• Carrying out necessary AML / ATF Training and Competence at the branch;
• Analysing data and developing reports to monitor suspicious activities, and conducting relevant enquiries where necessary;
• Dealing with SOCA;
• Dealing with FOS where necessary.

Anti-Bribery and Corruption Officer:

• Meeting the Bribery Act 2010 and any subsequent relevant legislation. The ABC should also take into account guidance from government, regulators or professional bodies;
• Carrying out bribery risk assessment in business and operations and updating annually;
• Drafting and revising policies and procedures drawing on the conclusions from the risk assessment. These policies and procedures should consider standards of conduct, resolution of any conflicts of interest, acceptable standards for gifts and hospitality, dealing with third parties including agents and business introducers. The ABC should consider whether other parts of the bank or the group as a whole are affected, and advise appropriately;
• Following up on any incidence and report to the Operational Risk Management Committee;
• Putting in place staff training to ensure staff are aware of the Act and our internal procedures.

Complaints Officer:

• Responsible for processes to handle customer complaints;
• Logging and preparing the semi-annual Complaint details reports to the FSA and head office;
• Dealing with FOS where necessary.
• People Supervising the Compliance Assistant

Competence Requirements:

Academic Qualifications

- University Graduate
Professional Qualifications
- Ideally previous holder of CF10 / 11 ‘Approved Person' but not essential

Relevant Experience & Knowledge

- Compliance / Regulatory / Legal experience;
- Financial Services experience;
- Commercial and/or Retail Banking experience;
- Understanding of relevant FSA rules, FOS & Data Protection legislation;
- Anti Financial Crime legislations and JMLSG guidance, Bribery Act 2010;
- FSA approach to supervision;
- Understanding of how SOCA and other agencies operate;

Job Related Skills Requirements:

Leadership - Contributes as a coach and assists in the development of team members;
- Participates actively in different projects;
- Consciously acquires, performs, and develops personal abilities as a leader.
Teamwork - Good team player with effective interpersonal skills;
- Serves as a model team player and helps support the development of team spirit;
- Demonstrates a positive and cooperative attitude while working with people of other teams.
Planning and Organising - Aware of and carries out defined strategies efficiently within the team;
- Ability to prioritise tasks and procedures to ensure the greatest match and support between operation flow and defined strategies.
Customer Focus - Delivers quality services to customers (internal & external) and satisfies their needs;
- Complies with the service standards of the team (if any) and the Bank;
- Collects and passes customer feedback to higher levels for review and enhancement of standards.
Communication Skills - Expresses ideas clearly and concisely in individual and group situations both orally and in writing;
- Maintains open communication so team members are informed & knowledgeable
- Listens objectively and fosters good working relationships.
Professionalism - Understands the overall responsibilities and functions of the department and effectively applies the skills and knowledge required of the position;
- Obtains professional qualifications relevant to the job position as required by the Bank;
- Keeps abreast of license requirements through attending continuous professional training courses required by the regulatory institutions or other professional bodies.
Ethical Behaviour - Acts with integrity, due skill, care and diligence in carrying out the role and responsibilities;
- Adheres to the ethical standards of behaviour and code of conduct issued by the Bank;
- Takes an appropriate action and makes ethical judgment when facing the ethical dilemma.

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