Job Description

Job Purpose:

1.Act as the team leader to support the ongoing growth of the Private Banking Department (“PBD”) by ensuring that account opening, client onboarding, periodic reviews, ongoing transaction monitoring and AML / CFT controls are executed smoothly, effectively, and in a timely manner, thereby minimizing AML / CFT and reputational risks.

2.Ensure the accuracy, completeness and quality of Customer Due Diligence (“CDD”) and customer data throughout the customer lifecycle, in compliance with applicable Hong Kong AML / KYC regulatory requirements and internal policies.

Main Responsibilities:

Client Onboarding & Account Opening

1.Work closely with front line staff on account opening and client onboarding, including:

•Establishing the legitimacy and reasonableness of Source of Wealth / Source of Funds (SoW / SoF)

•Reviewing KYC documents, CDD information, and system records

•Conducting name screening, adverse media searches, and risk assessments

•Following up outstanding information with Front Office and customers

•Ensuring onboarding cases are completed within agreed service timelines and with appropriate quality standards

CDD Review & Ongoing Due Diligence

2. Work with front line sales on CDD and periodic reviews, including:

•Regular / periodic reviews

•Reviews triggered by changes in customer profile or trigger events

•Reviews initiated by internal alerts or external risk indicators

•Ensuring reviews are completed accurately, consistently and within regulatory deadlines

•Providing guidance to Front Office to facilitate timely and proper completion of CDD reviews

Data Quality & Control

3. Review and monitor customer databases and account records to ensure:

•Accuracy and completeness of CDD information

•Data consistency between source documents and internal systems

•Compliance with internal data quality and record keeping standards

•Identification of data gaps or control weaknesses and driving remediation actions

Transaction Monitoring & Alerts

4. Oversee and perform ongoing transaction monitoring in accordance with internal guidelines, including:

• Review of transaction alerts and identification of unusual activities

• Timely and appropriate escalation of suspicious cases

• Supporting the escalation of potential suspicious activities to the BMLRO where required

Frameworks, Policies & Procedures

5. Establish, review and implement frameworks, policies, guidelines and operating procedures covering:

•Account opening and client onboarding

•Customer due diligence and periodic reviews

•Ongoing transaction monitoring

•AML / CFT controls

•Ensure policies and procedures remain aligned with latest regulatory requirements and internal risk appetite

Systems, Projects & Process Improvement

6. Participate in, and where appropriate take a leading role, in system development, process enhancement and digitalisation initiatives, including:

• KYC systems and workflow enhancements

• Transaction monitoring tools

• Process efficiency and turnaround time improvement

Reporting & Audit

•Prepare management information and reports on onboarding volumes, risk profiles, review status, and control issues

•Support internal audits, compliance reviews and regulatory examinations related to AML / KYC onboarding and monitoring

•Ensure timely follow up and closure of audit findings and regulatory observations

Requirements

•Degree holder in Business, Finance, Law, or related disciplines

•Professional AML and/or compliance qualifications (e.g. CAMS) are an advantage

•Minimum 8 years of relevant experience in CDD, client onboarding, account review and transaction monitoring within a financial institution, preferably in Private Banking or Wealth Management

•Prior experience in dealing with Front Office and handling complex or high-risk client cases is preferred

•People management or supervisory experience is an advantage

•Sound knowledge of Hong Kong AML / KYC regulations and guidelines, including a risk-based approach to CDD

•Strong analytical and risk assessment skills, with attention to detail

•Ability to multi-task, manage priorities and work under pressure in a fast paced environment

•Self-motivated, proactive, and able to work independently