Senior Manager, PB Client Onboarding & Monitoring

Job Purpose:

1. Act as the team leader to support the ongoing growth of the Private Banking Department (“PBD”) by ensuring that account opening, client onboarding, periodic reviews, ongoing transaction monitoring and AML / CFT controls are executed smoothly, effectively, and in a timely manner, thereby minimizing AML / CFT and reputational risks.
2. Ensure the accuracy, completeness and quality of Customer Due Diligence (“CDD”) and customer data throughout the customer lifecycle, in compliance with applicable Hong Kong AML / KYC regulatory requirements and internal policies.

Main Responsibilities: 

Client Onboarding & Account Opening

1. Work closely with front line staff on account opening and client onboarding, including:
   • Establishing the legitimacy and reasonableness of Source of Wealth / Source of Funds (SoW / SoF)
   • Reviewing KYC documents, CDD information, and system records
   • Conducting name screening, adverse media searches, and risk assessments
   • Following up outstanding information with Front Office and customers
   • Ensuring onboarding cases are completed within agreed service timelines and with appropriate quality standards

CDD Review & Ongoing Due Diligence

2. Work with front line sales on CDD and periodic reviews, including:

• Regular / periodic reviews
• Reviews triggered by changes in customer profile or trigger events
• Reviews initiated by internal alerts or external risk indicators
• Ensuring reviews are completed accurately, consistently and within regulatory deadlines
•  Providing guidance to Front Office to facilitate timely and proper completion of CDD reviews

Data Quality & Control

3. Review and monitor customer databases and account records to ensure:

• Accuracy and completeness of CDD information
• Data consistency between source documents and internal systems
• Compliance with internal data quality and record keeping standards
• Identification of data gaps or control weaknesses and driving remediation actions

Transaction Monitoring & Alerts

4. Oversee and perform ongoing transaction monitoring in accordance with internal guidelines, including:

• Review of transaction alerts and identification of unusual activities
• Timely and appropriate escalation of suspicious cases
• Supporting the escalation of potential suspicious activities to the BMLRO where required

Frameworks, Policies & Procedures

5. Establish, review and implement frameworks, policies, guidelines and operating procedures covering:

• Account opening and client onboarding
• Customer due diligence and periodic reviews
• Ongoing transaction monitoring
• AML / CFT controls
• Ensure policies and procedures remain aligned with latest regulatory requirements and internal risk appetite

Systems, Projects & Process Improvement

6. Participate in, and where appropriate take a leading role, in system development, process enhancement and digitalisation initiatives, including:

• KYC systems and workflow enhancements
• Transaction monitoring tools
• Process efficiency and turnaround time improvement

Reporting & Audit

• Prepare management information and reports on onboarding volumes, risk profiles, review status, and control issues
• Support internal audits, compliance reviews and regulatory examinations related to AML / KYC onboarding and monitoring
• Ensure timely follow up and closure of audit findings and regulatory observations

Requirements:

• Degree holder in Business, Finance, Law, or related disciplines
• Professional AML and/or compliance qualifications (e.g. CAMS) are an advantage
• Minimum 8 years of relevant experience in CDD, client onboarding, account review and transaction monitoring within a financial institution, preferably in Private Banking or Wealth Management
• Prior experience in dealing with Front Office and handling complex or high-risk client cases is preferred
• People management or supervisory experience is an advantage
• Sound knowledge of Hong Kong AML / KYC regulations and guidelines, including a risk-based approach to CDD
• Strong analytical and risk assessment skills, with attention to detail
• Ability to multi-task, manage priorities and work under pressure in a fast paced environment
• Self-motivated, proactive, and able to work independently