Compliance Risk Review Specialist

Permanent contract|Hong Kong|Corporate & Investment banking

Compliance Risk Review Specialist

Hong Kong, Hong Kong Permanent contract Corporate & Investment banking

Responsibilities

This is a VP role where the incumbent will have to independently manage the responsibilities set out in this job description. The Manager shall escalate any high risk/issue or work resistance in the execution of the review without delay to the Compliance Risk Review Manager (Team Lead) and/or Regional head of CTL.

The successful candidate needs to be able to make and stand by difficult decisions with a strong desire for results and solution orientated.  A high level of integrity with good ethical core values.

Summary of the key purposes of the role:

  • Ensure Compliance risks are identified and managed in a timely manner
  • Perform testing of the control framework and deliver Compliance reviews as required by the annual control plan
  • Ensure timely tracking and resolution of CTL recommendations 
  • Maintain regular engagement and provide feedback with/to key business and Compliance stakeholders

Summary of responsibilities:
Contribute to build and deliver on the annual Compliance control plan

  • Adopt a strong risk-based approach.
  • Analyze the results of the risk assessment campaign, key incidents, external enforcements, results of previous reviews, regulatory agenda and detect weak areas or process at risk. Narrow down the selection of priorities with the contribution of key compliance and business stakeholders across all the region.
  • Perform Compliance and/or operational risk testing on controls in the business.

Perform testing and deliver report with practical recommendations 

  • Manage end to end thematic/cyclical/desk review activities by:
  • Performing review activities, including scoping, testing, issue clearance, reporting; and
  • Delivering work on schedule and in accordance with CTL standards and methodology;
  • Timely escalation of any risk/issue to the Compliance Risk Review Manager (Team Lead) and/or Regional Head of CTL, including where there is a risk of delayed implementation or work resistance from the relevant stakeholders.
  • Submit draft reports to, and obtain clearance from, the Compliance Risk Review Manager (Team Lead) and/or Regional Head of CTL prior to issuance and communication to the relevant business and Compliance stakeholders. Manage distribution of the review report to the relevant stakeholders and the recording of the issues/actions/recommendations in the database.
  • Ensure timely tracking of CTL issues/actions/recommendations and provide updated status in the recording database on a regular basis. 
  • Provide periodic updates of the review status in weekly team meetings and update the team’s activity report on a monthly basis. Comment on key risks/issues identified and highlight any potential slippage, and/or provide justification for slippage, if the anticipated delivery schedule is not going to be met.
  • Maintain adequate and accurate working papers to evidence and support issues/actions/recommendations.

Team work

  • Collaborate and work with all staff involved in the execution of the reviews, providing support throughout the review life cycle (including the validation of the scoping document, the testing results, the validation/clearance of issues/actions/recommendations, and the issuance of the report).
  • Support and share expertise on compliance and/or business specific knowledge/matters.
  • Contribute to heighten awareness of major regulatory developments and its impact to the bank’s activities from a risk management perspective.
  • Develop and maintain effective partnership and working relationships with relevant stakeholders at all levels of organisation based on an understanding of their concerns, needs and motivations. 

Engagement with business line and Compliance stakeholders

  • Provide regular updates to key businesses and Compliance stakeholders on the progress of the review and the risks/issues identified during the review period (including proactively participating in business meetings and/or risk committees, if required).
  • Maintain updated knowledge of the business line organisation as well as its strategic developments and key projects.

Other responsibilities

  • Maintain a detailed and updated working knowledge of the FCA, SFC, HKMA, MAS rules and regulations
  • Develop and maintain own training plan to stay abreast of new regulatory requirements and Internal Controls/Policies.
     

Profile required

Technical knowledge

  • Strong knowledge of regulations relating to financial services (FCA rules, EU directives, SFC, HKMA, and MAS etc)
  • Good knowledge of Capital Markets and Investment Banking environment and associated products
  • Solid data analytic skills with advanced Excel experience
  • Ability to analyse trends, identify critical threats and opportunities, diagnose problems and issues and then recommend appropriate actions dealing with the underlying root causes

Work Experience

  • Minimum of 12 years of relevant work experience in the financial services industry, internal audit/testing, compliance or data science/analysis background
  • Experience in execution of projects/reviews with minimum supervision
  • Broad business experience and a proven ability to influence
  • Demonstrated ability in strong communication, organisational, analytical and people skills
  • Proven track record in delivering results, self-starter and ability to manage complex projects a must
  • Experience in analysing large datasets, draw valid inferences and present them clearly to key stakeholders
  • Have ability to work effectively with both local, regional and global stakeholders
  • IT audit experience is desired

Education

  • Minimum of BA/BS required; MBA or any other advanced degree preferred but not required
  • University Graduate in Law, Banking & Finance, Economics or Data Science/Analytics highly advantageous
  • Professional diploma or qualifications in Compliance (eg. ACAMS, AAMLP, CFE) and/or Audit (eg. CA, CPA), preferred

Languages

  • Minimum of BA/BS required; MBA or any other advanced degree preferred but not required
  • University Graduate in Law, Banking & Finance, Economics or Data Science/Analytics highly advantageous
  • Professional diploma or qualifications in Compliance (eg. ACAMS, AAMLP, CFE) and/or Audit (eg. CA, CPA), preferred

General Competencies

  • Work independently with the ability to make difficult decisions
  • Strong report writing skills
  • Analytical & problem solving skills
  • Presentation skills
  • Time management skills
  • Team player 

Business insight

Company Description
Societe Generale is one of the leading European financial services groups. Founded in 1864, we have been playing a vital role in the economy for over 150 years. With more than 133,000 employees based in 61 countries worldwide, we accompany 32 million clients throughout the world on a daily basis. Based on a diversified universal banking model, the Group combines financial strength with a strategy of sustainable growth.

Our expertise in the Asia Pacific region ranges from Corporate & Investment Banking (Advisory, Financing and Global Markets) to Asset Management, Securities Services, Trade Finance and Cash Management Services. Leveraging on our formidable global footprint, we serve corporates, financial institutions and the public sector. With our regional headquarters in Hong Kong, we operate in 11 countries across Asia Pacific, employing over 6,600 employees. You can find us in Beijing, Seoul, Tokyo, Singapore, Mumbai, Sydney and other locations in the region.

Department Description

CPLE/CTL’s mandate is to operate, within the 3 Lines of Defense model, a 2nd Level Controls and Testing framework, from both a regulatory and financial crime perspective, based around a robust compliance risk assessment, which drives the prioritization of the control plan.

The objective of 2nd Level Controls and Testing is to assess and test independently the adequacy of the 1st and 2nd Lines of Defense (LOD1 & LOD2) compliance framework that Business Units (BU) and Support Units (SU) have put in place to mitigate the risks of non-compliance that SG Group is exposed to across its business activities and operations regionally. 
    
The CTL team is positioned as a second line of defence in the bank’s internal control framework and has a specific mandate within Compliance, with the objective to measure, test, detect and report the risk of non-compliance. The responsibilities of the Asia regional team include:
1.    Collect and analyse compliance risk indicators;
2.    Build a risk based yearly Control plan for APAC;
3.    Coordinate the annual Compliance Risk Assessment with Regional and Country Advisory Compliance for Asia;
4.    Execute Compliance reviews covering wholesales bank activities within Asia;
5.    Monitor the control assessment of the Permanent Supervision in Asia; and
6.    Deliver recommendations and action plan to enhance the global control framework.

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 2300011B
Entity: Societe Generale Hong Kong Branch
Starting date: 2023/03/01
Publication date: 2023/01/12
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