Asia Chief Anti-Money Laundering Officer

Level: Director

Client: Multinational Insurance Company & Financial Services Provider

Location: Hong Kong

Asia Chief Anti-Money Laundering Officer

The Asia Segment Chief Anti-Money Laundering Officer (Asia Segment CAMLO) has overall responsibility for the oversight of all aspects of the anti-money laundering (AML), anti-terrorism financing (ATF) and sanctions compliance program in Asia Segment.

Anti-Money Laundering, Anti-Terrorist Financing and Sanctions Compliance

Reporting to the Deputy Global Chief Anti-Money Laundering Officer (Deputy Global CAMLO) and the Asia Chief Compliance Officer (Asia CCO), the Asia CAMLO manages a team of 6 AMLATF, sanctions and tax compliance professionals, and provides indirect leadership and support to: 10 territorial AML Responsible Officers (AMLROs) and a team of offshore AMLATF professionals based at Integrated Compliance Services (ICS) at MBPS Manila.

Fundamental components of the role include ensuring that Asia Segment has consistent, effective and risk-based AMLATF and sanctions policies, processes, controls and systems in place in all territories of operation. This involves overseeing the implementation and ongoing maintenance and upgrades to Company AMLATF systems, e.g., for transaction monitoring and sanctions/anti-terrorist and high risk customer screening platforms. The Asia Segment CAMLO also monitors to ensure that territorial AMLATF programs are adequately staffed, trained and operating effectively, including through the conduct of regional testing programs, and the review of local testing methodologies and results.

In addition, and as documented in the organisation’s AML Manual, the role of the Asia Segment CAMLO also includes the following specific tasks: 

• Ownership of Asia Segment policies and/or procedures;

• Ensuring day-to-day compliance with the Global AML/ATF Policy within Asia Segment, including implementing, monitoring and reviewing of policies, procedures and controls at the Asia Segment and Market level;

• Responsibility for the preparation and review of Asia Segment annual self-assessment;

• Reporting on the results of the AMLATF program to Asia Segment and Business Unit Senior Management (i.e., the Asia General Manager), Asia Segment Compliance Management and the Global CAMLO Office;

• Ensuring appropriate, ongoing risk-based training programs are implemented for Asia Segment employees; and

• Supporting local markets to ensure their compliance with all local regulatory AMLATF and sanctions requirements, and cooperation with local regulators and law enforcement agencies.

FATCA / OECD CRS

• Provides Compliance subject matter support to the Operations and Taxation departments in their respective capacities as the FATCA and OECD CRS program owners;

• Administers a Quality Assurance and testing program to ensure appropriate FATCA and OECD CRS policies, procedures and controls at the territorial levels; and

• Act as a point of escalation on complex interpretive matters related to FATCA and OECD CRS, working in consultation with Regional Tax, the Global Compliance and other stakeholders.

Other Duties

• Provides support to other Asia Segment Compliance initiatives upon request, including Anti-Bribery and Corruption (ABAC) and Anti-Fraud;

• Upon request, provides advisory support and guidance on sanctions compliance to Asia GWAM/MIM/General Account compliance teams;

• As a member of the Asia Regional Compliance leadership team, provide input into the strategic direction of the department and overall Asia Segment Compliance program, and foster and engaged and effective workforce.

Competencies/Knowledge:

• Able to perform analysis on complex concepts that may require in depth research and/ interpretation and provides sustainable solutions across the globe

• Participates in industry forums/ working group to explore and develop possible solutions to various issues

• Strategic partner with the business and related compliance groups

• Works closely with functional or global compliance to set strategic priorities for the business/ functional compliance program

• Identify opportunities and implement process improvement/s

• People managers - Excellent people management and leadership skills

• Lead decision making across groups in the company

• Strong people/ interpersonal skills; ability to interact with roles from different areas and at all levels across the organization

• Communicates well up and down the organization

• Proven people development skills

• Lead team focus and priorities based compliance strategy

• Lead discussions to help others translate gaps to develop insights and recommendations

• Lead others to effectively manage project constraints and conflicting task dependencies as part of the project-life-cycle

• Coaches others in identifying underlying issues and evaluates proposed solutions

• Removes barriers to improve effective delivery of projects and compliance goals

• Works with others to identify and interpret appropriate data and trends to manage compliance risks

• Holds team members accountable for identifying process improvement opportunities; recognizes positive contribution

• Provides feedback to others on addressing mistakes to uphold the team’s reputation

• Provides guidance to managers in structuring projects and managing priorities to meet critical timelines