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CIB Controls - Custody and Fund Services, Business Control Officer - Vice President

Req #: 180006581
Location: Hong Kong, 01, HK
Job Category: Operations
Job Description:

Custody & Fund Services (CFS) is a business within Investor Services that offers three complementary services: Custody, which provides safekeeping, settlement, asset servicing, foreign exchange and cash management services to asset managers, insurance companies and investment funds across approximately 100 securities markets; Fund Services, which provides accounting and administration services to traditional and alternative asset managers, in addition to trust and fiduciary, transfer agency, compliance and portfolio reporting services; and Trading Services, which provides agent lending of client securities to broker dealers and other financial institutions as well as issuance and cancellation of American and Global Depositary Receipts. 

 

Position Summary:

The role is the Business Control Office (BCO) for the CFS business in Asia Pacific. This team is part of a wider global CFS and Investor Services BCO team which report into the Investor Services CFO as well as the Oversight and Control office.

 

The BCO will interact with multiple line and corporate functions and need to be able to partner effectively with senior executives of the firm.  The individual will need to establish very strong relationships with the CFS business heads and develop a deep understanding of the business, its control challenges, the architecture and products.

The Business Control Officers focus will:

 

• Act as trusted Front Office control advisors

• Represent Front Office interests vis a vis control/regulatory initiatives

• Execute and implement business controls priorities and strategy

• Lead Front office supervisory management and execution

• Manage Control and Risk governance implementation and reporting

 

Key responsibilities include:

Front Office Control Advisor

• Enhance collaborative control environment with appropriate oversight and clearly defined responsibilities

• Encourage business self-identification of  control areas of concern

• Facilitate risk event early escalation in accordance with firm wide and IS policies and procedures

• Cultivate strong working relationships and open dialogue with business partners regarding mitigation of potential risks and remediation

 

Regulatory and Audit Management

• Prepare materials and participate in internal and external regulatory & control meetings/reviews

• Coordinate with relevant stakeholders in preparation for internal and external audits

• Address regulatory, audit and compliance issues with urgency

Control Priorities and Strategy

• Reinforce the firm wide control framework to ensure consistency and transparency

• Lead control deep dives and project working groups

• Engage with key partners including Finance, Operations and Business Managers

 

Governance and Implementation

• Issue identification, remediation and action plan management

• Monitor major and critical control issues

• Escalate control issues to more senior levels when appropriate

• Develop, review and implement policy and procedures

• Establish Risk Event standards and compliance

• Manage processes to perform and evaluate Risk & Control Self-Assessment (RCSA), Conflict of Interest (COI), Business Conduct Risk Assessment (BCRA)

 

Reporting and Monitoring

• Develop and oversee Front Office Supervision (FOS) portal including exception management

• Monitor key metrics

• Obtain attestations and affirmations

• Perform thematic risk event review including root cause analysis

 

Qualifications & Experience Required:

 

• Understanding of Custody and Fund Services products and markets

• Highly motivated, energetic self-starter who takes ownership

• Good organizational skills - manages & prioritizes multiple tasks across different time horizons within deadlines

• Strong leadership experience

• Understanding of the end to end product life cycle

• Investigative mindset, able to see issues at both a high-level and in detail, and understand applicability across the business

• A good understanding of controls and how to apply them to different processes and businesses

• Strong analytical, problem solving & process re-engineering skills

• Excellent Excel, Word, PowerPoint skills  

• Excellent verbal and written communication skills

• Strong team player with excellent partnering and influencing skill

• Previous experience in Business Management would be helpful

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