VP, In Unit Control – International Banking/Regulatory Reporting (Incl.tax)

The Compliance Business Control Officer is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.

Roles/Responsibilities:

• Continuously and pro-actively monitor developments, and maintain a clear understanding, of the regulations and policies related to offshore with the objective to integrate implications to business operations control and strategies
• Working with in country and /or regional control stakeholders, to develop and implement controls’ grid and strategy and provide support to facilitate successful offshore business outcomes with reference to regulatory / policy framework.
• Provide leadership and support to projects related to offshore regulations/ policies implementation
• Provide superior risk and control advice and support in Client Tax Reporting to GCB business
• Ensure proper compliance with FATCA and CRS reporting requirements also support on the client tax reporting from international tax
• Work with Corporate Tax and HK Tax counsel to understand the Client Tax reporting guidelines and co-ordinate with departments to perform control assessment and/or gap analysis on Client Tax Reporting. Ensure all the regulatory requirements and compliance policies are in scope and execute during the assessment. Flag out any potential operational risk and conduct deep dive review if required
• Leads the Client Tax Reporting initiatives in alignment with business strategy and goals. Work with business unit managers and staff to dimension and implement business process and collateral changes in line with policy and regulatory changes, formulate system implementation plans and test plans.
• Collaborates across functions and FRSS team on FATCA, CRS reporting and Qualified Intermediary related reporting (e.g. 945, 1099, 1042s, 1042) and ensure timely and accurate filing for CHKL
• Ensure departmental procedures are in line with corporate policy and legislative requirements
• Act as the key point of contact for audits and reviews carried out by, but limited to, regulators, internal and external audit, and regional reviews including related to Client Tax Reporting
• Manage detail corrective actions plans, tackling of issues at a root-cause level, and working with stakeholders and advisers to ensure actions are sufficient
• Manage Consumer Operation’s control and quality frameworks ensuring compliance to policies, procedures, and reporting to stakeholders
• Engage in process, system, and regulatory projects to ensure that changes are robustly implemented within credit operations
• Engage with relevant stakeholders throughout the new product process / New Product Oversight on Client Tax Reporting
• Attend industry, regulatory and legal workshops to maintain awareness of issues impacting the business
• Manages and develops staff, builds talent and leadership pipelines and maintains a diverse and effective workforce.
• Engage in the review and closure of Issue and Corrective Action Plans (CAPs) management
• Engage with relevant stakeholders throughout the new product process / New Product Oversight

Education:

• Degree holder with CPA qualification
• BS/BA degree or equivalent professional qualification

Experience:

• Minimum ten years in the Retail Banking or Financial Services industry
• Minimum 5 years in tax reporting/audit function/ Risk Management or Control Management-related role
• Good understanding of FATCA/CRS reporting
• Knowledge of system implementation an advantage
• Good command of English and Chinese
• Good command of automation tools preferable

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