Assistant Manager, Regulatory Compliance

ELE Bank Limited; Hong Kong; On-site; HKD 600,000 - 1,000,000; Full time

Job summary

Airstar Bank in Hong Kong seeks an Assistant Manager, Regulatory Compliance to support the development and enforcement of the bank's compliance framework for wealth management and investment activities.

You will provide risk-based guidance to business units, monitor HKMA, SFC and IA developments, and assist in regulatory change programs, product reviews and disclosures to ensure regulatory alignment and robust controls.

Qualifications

• Degree in Law, Finance, Accountancy, Business Admin or similar.
• Professional qualifications in compliance, investment, securities or insurance are an advantage.
• 3–5 years’ relevant experience in compliance, audit, risk management, or related fields.
• Strong knowledge of HKMA, SFC and IA requirements for wealth management.
• Fluent in English and Chinese; Putonghua preferred.

Responsibilities

• Assist in developing and maintaining the Bank’s compliance framework, policies and control standards relating to wealth management and investment activities.
• Provide timely, practical and risk-based compliance advice to relevant business functions.
• Monitor regulatory developments and market practices from HKMA, SFC and IA.
• Support implementation of regulatory changes, including gap analyses and updating policies and procedures.
• Review and provide compliance clearance for wealth management products and related disclosures.

Skills

Regulatory compliance

Policy interpretation

Risk assessment

Stakeholder communication

English & Chinese written

Education

Law degree

Finance degree

Tools

Microsoft Office

Word

Excel

PowerPoint

Job description

Assistant Manager, Regulatory Compliance

Assist the Manager / Senior Manager in developing, implementing and maintaining the Bank’s compliance framework, policies, procedures and control standards relating to wealth management and investment-related activities.

Provide timely, practical and risk-based compliance advice to relevatn business functions on applicable legal, regulatory and internal policy requirements.

Monitor and assess regulatory developments and market practices relevant to wealth management activities, including circulars, guidelines and requirements issued by the Hong Kong Monetary Authority (“HKMA”), Securities and Futures Commission (“SFC”) and Insurance Authority (“IA”).

Support the implementation of regulatory changes, including conducting gap analyses and coordinating updates to policies, procedures, controls, system requirements, training materials and business practices.

Review and provide compliance clearance for wealth management products, product due diligence and approval documentation, as well as related customer disclosures, terms and conditions and sales documentation.

Conduct pre-publication compliance reviews of investment and insurance-related marketing, advertising, promotional, product and sales materials to ensure compliance with applicable regulatory requirements and internal standards.

Review and advise on sales processes and controls for wealth management products, including customer suitability, risk profiling, product risk rating, disclosure, sales documentation, client consent and post-sale controls, where applicable.

Support compliance oversight of investment products, securities services, funds, bonds, structured products and insurance products, as applicable to the Bank’s business.

Perform compliance monitoring, control testing, thematic reviews and branch or business-unit reviews in accordance with the annual compliance assurance plan.

Identify compliance issues and control gaps, document findings and recommendations, and follow up with relevant stakeholders to ensure timely completion of remediation actions.

Assist in the preparation of management information, compliance reports, regulatory submissions and responses to regulatory questionnaires, surveys and enquiries.

Support regulatory examinations, inspections and reviews conducted by the HKMA, SFC, IA and other relevant authorities, including the coordination of information requests and follow-up actions.

Maintain complete and accurate compliance records, including regulatory advice, product and marketing-material review records, monitoring results, regulatory correspondence and issue-tracking logs.

Assist in preparing and delivering compliance training and awareness communications for frontline staff and relevant support functions on wealth management regulatory requirements and conduct standards.

Participate in compliance-related projects, including new-product launches, process enhancements, system implementations and regulatory change initiatives.

Perform other ad hoc duties as assigned by the Manager / Senior Manager or Head of Compliance.

Job Requirements

Degree holder in Law, Finance, Accountancy, Business Administration or other relevant disciplines. Professional qualifications in compliance, investment, securities or insurance are an advantage.

Minimum 3–5 years’ relevant experience in compliance, audit, risk management, internal control or operational risk within a bank, financial institution, regulator or professional services firm.

Sound knowledge of Hong Kong regulatory requirements applicable to wealth management and retail investment activities, particularly those issued by the HKMA, SFC and IA.

Familiarity with key regulatory requirements relating to suitability assessment, client risk profiling, product due diligence and approval, disclosure, sales practices, advertising and marketing materials, and conflict-of-interest management.

Experience in reviewing wealth management products, marketing materials, sales processes and/or compliance documentation is highly preferred.

Exposure to investment products, including securities, funds, bonds, structured products and insurance products, would be an advantage.

Experience in regulatory change management, compliance monitoring, control testing, regulatory examinations or handling regulatory enquiries is preferred.

Strong analytical, problem-solving and organisational skills, with a keen eye for detail and the ability to manage multiple priorities under tight timelines.

Able to exercise sound judgement, provide practical compliance advice and work effectively with business and control-function stakeholders.

Good command of written and spoken English and Chinese. Proficiency in Putonghua is preferred.

Proficient in Microsoft Office applications, particularly Word, Excel and PowerPoint.

Airstar Bank is a digital bank in Hong Kong with Futu Group and Xiaomi Corporation as its key shareholders. The Bank upholds the virtue of financial inclusion and strives to become a "Bank for Everyone" by making cutting edge digital banking services accessible at our customers' fingertips. Airstar Bank has become a licensed bank under the Hong Kong Monetary Authority since May 9, 2019.