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Assistant Vice President/ Vice President, Hong Kong Country Compliance & Operational Risk Manager

Hong Kong, , Hong Kong

Job Description:

Your background

  • Minimum 5 years working in the financial services industry, preferably in a compliance and regulatory role. Relevant work experience with HKMA or SFC is a plus but not required
  • Candidates with background in external audit, consulting, or risk may also be considered
  • Ability to become familiar with new products and regulatory requirements and learn quickly
  • Proven ability to form partnership and to achieve goals through influence
  • Sound judgment and strategic thinking in building and maintaining relationship with internal and external stakeholders
  • Motivated self-starter who takes ownership and can produce high quality results with minimal direction
  • Excellent organizational and time management skills with strong attention to detail
  • Ability to manage processes and navigate in a large matrix organization
  • Proactive and confident
  • Excellent written and verbal communication skills
  • Fluency in English and Cantonese is required

What you can expect

The Hong Kong Compliance & Operational Risk (GCOR) function independently assesses compliance risk and oversees front line unit and control function adherence to applicable laws, rules and regulations, including identifying compliance Issues and Risks, performing Compliance Monitoring, determining and developing tests to be conducted by the Enterprise Independent Testing unit and reporting on the state of compliance activities across the Hong Kong franchise. The Hong Kong Compliance & Operational Risk (COR) Manager will be responsible for management of regulatory affairs and execution of the Compliance & Operational Risk program for Hong Kong. The successful candidate will be responsible for owning the regulatory relationship with the Hong Kong Monetary Authority (HKMA) and other relevant local regulatory agencies while providing advisory to internal stakeholders on compliance and operational risk matters. The HK COR Manager is accountable for managing regulatory requests, enquiries, offsite review, prudential meeting, and onsite inspections. The work environment is fast paced and dynamic with great exposures to regional and in-country senior executive. The successful candidate must also be agile, adaptable, and maintain composure under pressure.  

What you will do

The Hong Kong Country Compliance & Operational Risk (COR) Manager is responsible for ensuring the identification, escalation and timely mitigation of compliance and operational risks in the country. The COR Manager is also responsible for:

  • Owning the end-to-end regulatory relationship with the Hong Kong Monetary Authority (HKMA) and other relevant local regulatory agencies.
     
  • Interfacing with local regulators and ensuring any regulatory requests are appropriately managed
     
  • Providing advisory to internal stakeholders on regulatory and internal compliance policies matters
     
  • Compliance & Operational risk assessments performed in the country and contributing to the risk assessment for the region.
     
  • Country compliance & operational risk reporting, identifying and aggregating compliance risks/issues for the country.
     
  • Compliance & operational risk monitoring occurring in the country.
  • Evaluation of internal audit results, regulator identified issues, monitoring & testing (“M&T”) results and advising on remediation required in country.
     
  • Ensuring Compliance & Operational Risk “owned” issues (i.e., Internal Audit, Regulator and Self-Identified issues) are addressed appropriately and timely.
     
  • Contribution to the development of compliance & operational risk monitoring & testing plans.
     
  • Creating compliance & operational risk training coverage plans to address local needs.
     
  • Oversight of changes in local and regional regulation, including advising on those changes and directing the appropriate areas to implement or amend policies and procedures/processes to address change in regulations.
     

Responsibilities for this role also include ensuring consistent quality of activities, processes and outputs by establishing effective review practices across teams.

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Job Band:

H5

Shift: 

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Your background

  • Minimum 5 years working in the financial services industry, preferably in a compliance and regulatory role. Relevant work experience with HKMA or SFC is a plus but not required
  • Candidates with background in external audit, consulting, or risk may also be considered
  • Ability to become familiar with new products and regulatory requirements and learn quickly
  • Proven ability to form partnership and to achieve goals through influence
  • Sound judgment and strategic thinking in building and maintaining relationship with internal and external stakeholders
  • Motivated self-starter who takes ownership and can produce high quality results with minimal direction
  • Excellent organizational and time management skills with strong attention to detail
  • Ability to manage processes and navigate in a large matrix organization
  • Proactive and confident
  • Excellent written and verbal communication skills
  • Fluency in English and Cantonese is required

What you can expect

The Hong Kong Compliance & Operational Risk (GCOR) function independently assesses compliance risk and oversees front line unit and control function adherence to applicable laws, rules and regulations, including identifying compliance Issues and Risks, performing Compliance Monitoring, determining and developing tests to be conducted by the Enterprise Independent Testing unit and reporting on the state of compliance activities across the Hong Kong franchise. The Hong Kong Compliance & Operational Risk (COR) Manager will be responsible for management of regulatory affairs and execution of the Compliance & Operational Risk program for Hong Kong. The successful candidate will be responsible for owning the regulatory relationship with the Hong Kong Monetary Authority (HKMA) and other relevant local regulatory agencies while providing advisory to internal stakeholders on compliance and operational risk matters. The HK COR Manager is accountable for managing regulatory requests, enquiries, offsite review, prudential meeting, and onsite inspections. The work environment is fast paced and dynamic with great exposures to regional and in-country senior executive. The successful candidate must also be agile, adaptable, and maintain composure under pressure.  

What you will do

The Hong Kong Country Compliance & Operational Risk (COR) Manager is responsible for ensuring the identification, escalation and timely mitigation of compliance and operational risks in the country. The COR Manager is also responsible for:

  • Owning the end-to-end regulatory relationship with the Hong Kong Monetary Authority (HKMA) and other relevant local regulatory agencies.
     
  • Interfacing with local regulators and ensuring any regulatory requests are appropriately managed
     
  • Providing advisory to internal stakeholders on regulatory and internal compliance policies matters
     
  • Compliance & Operational risk assessments performed in the country and contributing to the risk assessment for the region.
     
  • Country compliance & operational risk reporting, identifying and aggregating compliance risks/issues for the country.
     
  • Compliance & operational risk monitoring occurring in the country.
  • Evaluation of internal audit results, regulator identified issues, monitoring & testing (“M&T”) results and advising on remediation required in country.
     
  • Ensuring Compliance & Operational Risk “owned” issues (i.e., Internal Audit, Regulator and Self-Identified issues) are addressed appropriately and timely.
     
  • Contribution to the development of compliance & operational risk monitoring & testing plans.
     
  • Creating compliance & operational risk training coverage plans to address local needs.
     
  • Oversight of changes in local and regional regulation, including advising on those changes and directing the appropriate areas to implement or amend policies and procedures/processes to address change in regulations.
     

Responsibilities for this role also include ensuring consistent quality of activities, processes and outputs by establishing effective review practices across teams.

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Learn more about this role

Full time

JR-21060662

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Mitesh Rathod

Referral Bonus:

0

Street Address

Primary Location:
2 QUEEN'S RD, Hong Kong