Hong Kong Branch Compliance Consultant

About Wells Fargo: Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2017 rankings of America's largest corporations. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Be part of the Wholesale Banking Compliance function in Hong Kong and provides broad-ranging Compliance support predominantly for the "banking business" activities in Asia (primarily, Corporate Deposit Taking, Corporate Lending, Correspondent Banking, and Trade Services).

Responsibilities include:

  • Assist in developing, implementing and maintaining an effective Compliance and Risk infrastructure in Hong Kong to accommodate applicable legal and regulatory requirements and Wells Fargo enterprise or line of business policies with a view to identifying, assessing and mitigating compliance and operational risks
  • Assist in implementing and administering Compliance and Operational Risk control systems and procedures and monitoring programs for Wells Fargo's activities in Hong Kong; discussing findings or issues and remedial action with business line, legal entity and enterprise management; undertaking ad hoc issue escalation and periodic reporting to management
  • Providing comprehensive Compliance and Risk advisory support for current and new or modified business initiatives and in any development, integration or rationalization of activities in Hong Kong
  • Assisting Wells Fargo in Hong Kong meet all local or US legal and regulatory requirements and Wells Fargo enterprise and business line standards and requirements
  • Interacting with Hong Kong Monetary Authority with respect to meetings, inquiries, regulatory changes, licensing, ongoing conduct and reporting requirements, and new or modified business initiatives; leading the local response to Compliance and Operational Risk monitoring and testing initiatives, internal audits and external regulatory exams
  • Disseminating information concerning regulatory developments impacting Wells Fargo in Hong Kong, with necessary interpretation and impact assessment; developing and delivering Compliance and Operational Risk training to enhance awareness and knowledge of applicable laws and regulatory requirements and Wells Fargo enterprise or business line policies and procedures

Market Skills and Certifications

  • Relevant university degree and minimum of five years of relevant experience gained in an international financial center. Legal or regulatory background viewed favorably
  • Some knowledge of laws and regulations of Hong Kong relevant to Wells Fargo's banking activities. Some familiarity with U.S. banking, securities and bank holding company laws and regulations is desirable
  • Some understanding of the general operation of international financial markets, international trade, and the conduct of business on a cross-border basis
  • Some understanding of the purpose and importance of effective regulatory oversight, risk management and corporate governance
  • Some understanding of full service global financial institution, knowledge of financial products/services offered by Wells Fargo, including features and life-cycle and a general understanding of how these businesses operate, desirable
  • Ability to identify Compliance and Operational Risks and advise on, promote, develop and implement suitable controls, policies and procedures to effectively monitor and mitigate those risks
  • Ability to identify and advise management of changes in the regulatory and compliance environment and design and implement appropriate Compliance and Operational Risk solutions
  • Experience of providing timely and prudent counsel and advice involving Compliance and Operational Risk issues and solutions
  • Qualities of character to build and maintain strong relationships with key stakeholder groups, including senior management, Compliance and Operational Risk team members, internal auditors and regulators / examiners; ability to influence stakeholders outside immediate area of control
  • Excellent oral, presentation and written communication skills; self-motivated; confidence to communicate pro-actively and effectively with peers and senior management; ability to manage to a set of deadlines and deliverables with limited supervision

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company.They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

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