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In support of the overall objective in supporting the pension compliance team, working in partnership with the business, and working closely with teams in the Risk and Compliance dept as second line of defense, to ensure that all regulatory risk is effectively assessed, identified, mitigated and controlled.
This position supports pension compliance in identifying, assessing, managing regulatory and compliance risks, and in implementing strategic directives / initiatives of the Compliance Dept. Supervise the compliance team and work collaboratively cross functions / departments in compliance related projects and provide compliance advice.

To devise and implement effective compliance programs, include monitoring of internal and third party service providers including Scheme Administrator, Investment Managers and Custodians, to ensure compliance with the relevant regulatory requirements, trustee’s obligations and corporate policies
To supervise and manage due diligence and on-going monitoring activities on third party service providers. Manage investigation and rectification on breaches.

To keep abreast of regulatory development, contribute input to impact analysis and risk evaluation, provide compliance advice to the business and regulatory initiatives. Oversees implementation of regulatory change projects. To support AIAT in its governance matters, ensuring compliance related incidents are timely escalated, reported and managed, and supports the trustee to discharge its fiduciary duties.

Pension and trust product coverage includes MPF, ORSO, Macau pension (CPF, PPF), SFC authorized funds and any other products that hold AIAT as the trustee.

This position must endeavour to maintain a trusted relationship with the regulators and represents the company in various industry meetings, taskforce and regulatory workgroups.

Roles and Responsibilities:

Regulatory and Investment Compliance Monitoring

Responsible for the design and implementation of Compliance Program in order to ensure effective monitoring of compliance with relevant regulatory requirements

• Responsible for the design, implementation and maintenance of robust monitoring procedures to ensure carry on of trustee’s fiduciary duties, to safeguard members’ interests, balancing with the company’s interest

• Responsible for the design, implementation and maintenance of robust monitoring procedures on internal and third party service providers including Scheme Administrator, Investment Managers, and Custodians, for ensuring their compliance with regulatory requirements and contractual obligations

• Plan and conduct due diligence reviews on third party service providers and compliance reviews on business / operational units for gaining assurance on the adequacy and effectiveness of control procedures.  Provide constructive recommendations for enhancing relevant processes and controls

• Implement a structured approach and procedures to effectively identify and deal with actual / potential non-compliance incidents

• Identify and escalate key compliance risks and actual / potential non-compliance incidents (including investment breaches and pricing errors) to the supervisor.  Investigate the incidents and assist in reporting to local management, Group Compliance, regulator and other relevant parties.  Ensure the incidents are properly rectified and appropriate preventive measures are implemented

Advisory on Regulatory Requirements and Business Initiatives

Keep abreast of the latest regulatory requirements in order to provide suitable and legally viable advice to management, general staff and service providers

• Monitor new regulatory developments and policy change and initiate necessary actions.  Conduct impact analysis/ gap analysis and provide to business / operational units where appropriate  Represents Compliance Department in regulatory change projects working groups

• Communicate new / revised requirements to relevant internal parties and third party service providers in a timely manner.  Monitor the progress of regulatory change implementation to ensure proper actions have been taken by the relevant parties

• Provide timely and independent advice to management, general staff and service providers on compliance, legal and regulatory issues, in particular, issues relating to trustee/ investment compliance, product / marketing materials and fund administration

• Advise on compliance and legal viability of business projects

Product Development Advisory

Provide compliance support in product development in order to ensure relevant regulatory requirements are complied with and necessary regulatory approvals are obtained

• Facilitate the development and implementation of pension product development initiatives.  Ensure there are proper governance and mechanisms in place for monitoring various aspects including (i) fund / investment manager selection, (ii) fund performance and fees, and (iii) fund deregistration / termination

• Provide necessary compliance inputs (including but not limited to reviewing and commenting on new / enhanced product features and documents) in obtaining regulatory approvals

• Provide compliance advice on viability of product development or marketing plans/ proposals

Monitoring of AML, FATCA, CRS compliance program

Work closely with Corporate Compliance team in ensuring the implementation of effective AML, CRS and FATCA compliance programs to ensure compliance with relevant regulatory and group policy requirements

• Identify any gaps with regulatory and group policy requirements, and make recommendations, take actions to bridge those gaps

• Engage different stakeholders for collaboration and implementation

• Monitor to ensure compliance programs remain effective.  Support the AML Compliance Officer in fulfilling the regulatory duties

• Ensure proper documentation and communication of policies and procedures

• Devise appropriate training for staff

• Escalate any compliance issues arising

Regulatory Liaison and Filing (10%)

Manage both regular and ad-hoc requests from regulators and monitor the submission of regulatory reports in order to ensure compliance with statutory filing requirements and maintain favorable relationship

• Ensure enquiries and requests from regulators are timely and appropriately handled

• Liaise with regulators on issues relating to regulatory compliance and legal obligations.  Consult legal department where necessary

• Ensure timely delivery and submission of relevant statutory returns and reports (such as trustee’s declarations, audited financial statements and audited internal control reports).  Coordinate with various internal and external parties and external auditors for the preparation and audit schedules and provide compliance support

Management Reporting

Assist in preparing reports to senior management and Group Compliance in order to ensure all compliance matters are timely and appropriately communicated and escalated

• Assist in communicating compliance matters to Group Compliance including timely and accurate reporting and/or escalation of such matters in accordance with relevant reporting and escalation protocols

• Assist in compiling regular / ad hoc reports to Board of Directors, senior management and governance committees for keeping them on top of the latest regulatory developments and major compliance issues

Compliance Policy Development and Maintenance

Develop, implement and maintain on an ongoing basis local policies and procedures in order to ensure compliance with relevant local regulatory and Group requirements

• Identify trustee’s fiduciary duties, local regulatory obligations and Group requirements, especially those relating to trustee and investment fund compliance

• Liaise with relevant business / operational units to embed Group and local regulatory requirements in the business procedures

• Assist in identifying key regulatory and ethical risks (including emerging risks) and ensure effective controls are implemented to mitigate the risks

• Ensure proper documentation and communication of policies and procedures

Others

• Perform other responsibilities and duties periodically assigned by supervisor in order to meet operational and/or other requirements

Minimum Job Requirements:

• Bachelor’s degree in appropriate field (e.g. Accounting, Finance, Law or Business)

• At least 10 years work experience in the financial services industry handling compliance and/or controls.  Experience with relevant regulatory bodies or compliance function will be an advantage

• Knowledge on trust and pension business, product documentations and trustee/ investment compliance

• Independent and able to work under pressure

• Organized, detail-oriented and analytical

• Good interpersonal and communication skills

• Good command of English and Chinese, both written and oral

• You are required to obtain the relevant license(s) if your job involves regulated activities

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