Senior Compliance Manager – Private Wealth Management (VP) recruitment
A Passion to Perform. It’s what drives us. More than a claim, this describes the way we do business. We’re committed to being the best financial services provider in the world, balancing passion with precision to deliver superior solutions for our clients. This is made possible by our people: agile minds, able to see beyond the obvious and act effectively in an ever-changing global business landscape. As you’ll discover, our culture supports this. Diverse, international and shaped by a variety of different perspectives, we’re driven by a shared sense of purpose. At every level agile thinking is nurtured. And at every level agile minds are rewarded with competitive pay, support and opportunities to excel.
Deutsche Bank is one of the world’s leading international financial services providers with over 100,000 employees in 73 countries. The operations of DB comprise the following business groups:
- Corporate and Investment Banking (CIB);
- Private and Business clients including Private Wealth Management; and
- Asset Wealth Management.
Deutsche Bank in Asia Pacific has nearly 18,000 employees across 17 financial markets
Deutsche Bank is exposed to a number of risks on a daily basis. These range from credit losses, market price volatility and operational failures to liquidity shortages and regulatory and legal matters. The Risk division is charged with identifying, aggregating, managing and mitigating these risks. We are made up of Compliance, Corporate Security Business Continuity, Credit Risk Management, Legal, Market Risk Management, Operational Risk Management Risk Analytics and Instruments, Treasury, and our Chief Operating Office.
We are continually providing new solutions as we keep pace with increasingly complex financial products and ever-changing market dynamics. We place a strong emphasis on specialized training and education. This allows our people to develop the necessary skills to grow and succeed.
The Compliance Manager PWM, Hong Kong will become part of the PWM Compliance team that is responsible for being the Compliance interface for that business, reporting to Head of Compliance in Hong Kong with additional reporting line to Regional Head of PWM Compliance in Singapore.
The Role
Responsible for:
- Providing compliance advice with regard to the applicable rules and regulations of private wealth management from a Hong Kong perspective, or as it impacts the Hong Kong business
- Providing compliance advice on internal compliance standards, policies and procedures such as in respect of suitability, cross-border matters, etc;
- Tracking all relevant meetings with regulators as it pertains to the PWM business, ensuring that all issued raised in such visits, reviews and inspections are tracked, agreed escalated promptly and appropriately with relevant documents being provided on a timely basis;
- Reviewing and assessing all new alerts, circulars and other regulatory notifications that impact PWM and ensuring that the necessary business and Compliance divisions are aware of the likely impact. This should include agreeing who will handle any responses required and tracking such responses;
- Assessing new requests for outsourcing and insourcing that impact PWM, including liaison with senior Compliance and Business Management;
- Tracking any annual surveys and reviews required for regulators as it pertains to the PWM business;
- Participating in any appropriate regional and/or global compliance group calls that determine strategies and priorities for Compliance;
- Developing relationships with the relevant Infrastructure functions that support the PWM business, providing ad hoc training on relevant procedures that impact PWM, as required;
- Providing induction training to new joiners in PWM within the first 4 weeks of them joining the team and ensuring relevant records are updated;
- Developing and maintaining appropriate Management Information to inform Senior Management of pertinent matters;
- Liaising regularly with relevant businesses, other Compliance and other colleagues to remain abreast of developments;
- Working with Legal, Compliance and other Risk functions in responding to SFC, HKMA and other regulatory enquiries, as required;
- Providing Compliance interface to the business for new projects on an as and when required basis;
- Liaising with AML colleagues on high risk or equivalent escalations;
- Undertaking regulator monitor of cross-border activity, suitability and other areas, as required;
- Participating in and provide input on new product approval processes;
- Reviewing and providing Compliance approval for marketing materials for the PWM business;
- Providing Compliance support on sales related complaints; and
- Leading or assisting in any ad hoc projects as necessary.
Qualifications and Personal Attributes
- A minimum of 8 years Compliance, monitoring or auditing experience within a financial institution, regulator and/or similar environment;
- Educated to degree standard;
- An ability to communicate clearly and effectively on local regulatory matters and outsourcing issues to key stakeholders at all levels;
- Strong knowledge of private banking laws and regulations, directives and regulatory expectations;
- The ability to work under pressure and within tight deadlines with no loss of accuracy;
- Proven analytical skills;
- Good organisational skills, including an ability to prioritise effectively; and
- Preference will be given to candidates with proven experience in the private wealth management compliance industry.
{i}Deutsche Bank is an equal opportunity employer who seeks to recruit and appoint the best available person for a job regardless of marital status, sex (including pregnancy), age, religion, belief, race, nationality and ethnic or national origin, colour, sexual orientation or disability.{/i}