The Regulatory Advisor is responsible for providing support to the business advisory team in their engagement with relevant business and/or infrastructure areas. They typically have daily interaction with key stakeholders and have a regional and/or country coverage. Where provision of advice is required, advice includes level 1 control advice and assisting with conducting level 2 controls and risk assessments. In addition, the Regulatory Advisor supports the maintenance of relationships with other relevant areas of the function and/or works directly with subject matter experts and other teams from across the function.
JD with hiring manager.
Additional Job Description
Details of the Division and Team:
Deutsche Bank (DB) is committed to the highest standards of Anti-Money Laundering (AML), Sanctions & Embargoes, Anti-Bribery and Corruption (ABC) and Anti-Fraud & Investigations (AF&I) and the wider financial crime (collectively referred to as Anti Financial Crime) prevention. The Management and all employees are required to adhere to these standards to prevent DB and our reputation from those who may intend to use our products and services for money laundering, bribery, corruption, fraud and/or Terrorist Financing (TF) purposes.
DB Group will examine its Anti-Financial Crime (AFC) strategies, goals and objectives on an ongoing basis and maintain an effective program for DB’s business that reflects the best practices for a diversified, global financial services provider. The AML Team sits within the AFC function.
The Country AML Officer covers the AML/CTF, Sanctions & Embargoes and other financial crime related matters in Hong Kong. AMLO ensures that all relevant AML/CTF policies, procedures, systems and controls are implemented effectively, all AML/CTF-relevant legal, regulatory and DB Group requirements are met and any ML/TF-related risks are appropriately addressed and mitigated. The AMLO is also responsible for the identification, assessment, advisory, monitoring, control and reporting of the AML/CTF laws and regulations, rules and standards that are relevant to the DB activities in Hong Kong. The AMLO, together with the Money Laundering Reporting Officer (MLRO), are the direct points of contact for DB staff on all AML matters. This role also assists the MLRO in responding any queries from the local regulator, law enforcement and other local authorities on AML relevant matters.
Your key responsibilities:
- The AML Office has unrestricted access to all information, data, records and systems in the Bank which deems necessary to fulfil its function.
- Having a direct reporting line to the MLRO, AML Officer would ensure appropriate reporting and escalation of issues to the MLRO and/or Local /Regional Head of AFC in a timely manner.
- Advising on and ensuring the implementation of applicable Group and Local AML/CTF Policies to Business in Hong Kong.
- Participating in the assessment of the conformity of relevant internal policies and procedures, systems and controls with relevant local regulatory obligations and DB Group standards, to ensure local AML regulatory requirements are properly reflected in the local KOPs.
- Monitoring the changes in local AML/CTF regulations and sanctions developments. Notifying the relevant changes and specifications to the MLRO and/or Local /Regional Head of AFC.
- Investigating and escalating unusual or potential suspicious client activities to the MLROs on a timely manner. Assist in the drafting of reports in case a filing to the local authorities is warranted.
- Handling of transaction monitoring escalations from Business and Operations
- Providing regulatory guidance and advice on KYC in relations to new or existing client relationships. Overseeing and tracking the conditions or limitations that have been imposed as part of the Client Lifecycle Management.
- Assisting the AML assessment during New Product Approval and Vendor Risk Management processes where applicable.
- Collating and preparing of MI reports required internally for risk management purposes and externally for regulatory reporting.
- Assisting the Group Financial Crime Risk Type Assessment and other local AML risk assessment within Hong Kong.
- Delivering local AML training when needed to share knowledge and maintain staff awareness culture.
- Ensuring that local record keeping processes are in alignment with the regulatory and Group requirements.
- Discharging the responsibilities of local AML officers as set out under global KYC policies for the division that the AMLO is responsible for.
- Essential interpersonal skills is required, be able to communicate and work with stakeholders and team members. Attention to detail.
Your skills and experience:
- Degree holder
- Relevant AML or related qualifications (eg. CAMS, HKIB ECF)
- Minimum 5 years of relevant AML/financial crime experience.
- AML Advisory Compliance experience in Corporate and Investment Banking or Global Markets. Experience in Wealth Management is a plus
- Work experience in transaction monitoring and system tuning is an advantage
- Knowledge of trade finance product or experience in trade based money laundering advisory is also an advantage
- Excellent proficiency in written and verbal English is requiredBasic proficiency in Chinese language is an advantage