Consulting Jobs in Hong Kong, Hong Kong S.A.R. (Now Hiring) — 769 open — Page 38

Role Purpose

This role sits at the intersection of financial crime risk management, correspondent banking, product, client coverage, and client advisory. The individual should have a good understanding of geopolitics, economics & international trades, external regulatory requirements, cross border payment and risks related to correspondent banking. As a senior individual contributor, you will support the Regional Head of High-Risk Sector to deliver value-add risk services to CIB business, product partners, risk, and clients. You will be part of a team to ensure robust risk identification, assessment, and mitigation of AML, CFT, and sanctions risks, while enabling the bank to compete effectively in the evolving cross border payment landscape. 

Key Requirement

Financial Crime Advisory (Correspondent Banking Focus)

Provide subject matter expertise on AML/CFT and sanctions risks associated with correspondent banking client relationships and the underlying clients. The individual should understand risk related to the:

• Dynamic external environment
• Jurisdictions
• High risk industries
• Nested activities
• Fintech players

Have a good understanding of HSBC’s risk appetite. Interpret and apply HSBC’s policy and control frameworks to manage the risks.

Business Enablement & Client Advisory

Work with Corporate & Institutional Banking teams to:

• Enable growth strategy and ensure the plan is executed accordingly
• Support client onboarding decisions in correspondent banking. Support initial CDD/ Enhanced Due Diligence and perform other ongoing deep dive reviews including triggers and changes in customer financial crimes profiles.
• Assess complex client structures, business models, and transaction flows
• Provide clear, commercially pragmatic risk guidance
• Act as a client-facing advisor for key strategic clients, articulating the bank’s risk standards and expectations
• Work with Banking team to escalate material risks to the ASP and Country Correspondent Banking Risk Forum (or equivalent)
• Provide support on regional risk governance and conduct regular transaction reviews, including Do Not Process & Enhanced Subject Monitoring

Product & Payment Risk Assessment

• Evaluate new and existing products, including multicurrency products, cross-border payments, real-time payments
• Identify inherent risks and design mitigation strategies, controls, and monitoring frameworks

Monitoring & Surveillance Advisory

• Ensure the region has the required transaction monitoring coverage to fulfill the regulatory requirement and manage the risk
• Provide input to enhance existing controls
• Assess thematic reviews from transaction monitoring and dynamic risk management due to the external environment
• Engage with the coverage team, product team and client to follow through actions to mitigate the risks

Thought Leadership & Market Development

• Act as a thought leader on financial crime risks in correspondent banking
• Contribute to internal training, client education, and industry engagement initiatives
• Fluent and capability to stay current in correspondent banking across HSBC value chains to ensure CIB can optimize at the right client/ product mix opportunity in a risk safe manner

Experience and Qualifications

Minimum 10 years of financial services experience, with:

• Good understanding of financial institutions and international trades & cross-border payments
• Strong background in AML/CFT, sanctions, and financial crime risk management
• Recent and direct experience in correspondent banking
• Proven experience working in Hong Kong, with strong familiarity of regional regulatory environments