Mandatory Reference Checking Scheme (“MRC”) for Hong Kong
The Mandatory Reference Checking Scheme is a framework to facilitate Authorized Institutions (“AIs”) to bilaterally obtain reference information during their recruitment process for certain positions, such that misconduct information in an individual’s previous employments can be provided to AIs to inform their employment decisions.
For information related to MRC Scheme, “Frequently Asked Questions for In Scope Individuals” is published by HKAB/Industry Guidelines (https://www.hkab.org.hk/en/home) or further information will be available upon request, if it is applicable to the position(s) applied.
Country of Location:
China Hong KongJob Responsibilities:
• Lead the establishment and ongoing enhancement of the independent Quality Assurance (QA) framework for the Transaction Monitoring team
• Design QA methodologies, sampling approaches, scoring criteria and review checklists to assess the quality, completeness, accuracy, and timeliness of TM alert investigations and case dispositions
• Conduct independent QA reviews on a risk-based sample of completed investigation cases to ensure adherence to internal policies, procedures and regulatory expectations
• Share QA findings, trends, and root cause analysis with TM investigators and management
• Provide actionable recommendations and best practices to improve investigation quality, documentation standards and decision-making consistency
• Track remediation actions and monitor progress on identified improvement areas
• Develop and deliver comprehensive training programs for new joiners and existing investigators on TM processes, quality standards, red flag identifications, documentation requirements and regulatory updates
• Organise regular refresher sessions, workshops and feedback sessions based on QA observations
• Prepare timely and accurate MIS reports on QA results, quality trends, key performance indicators and risk insights
• Develop high quality materials for governance meetings and senior management forum
• Act as the focal point of contact of TM team for providing information requests from HKMA, Internal Audit and other stakeholders
• Support internal audits, regulatory examinations, and external reviews related to TM processes and governance
• Collaborate closely with TM operations team, analytics and other FCC team to foster a culture of continuous improvement
• Take up other assignments from time to time as directed by the Team Head
Requirements:
Degree holder in Law, Business Administration or related discipline
Minimum 6 years’ working experience in general audit, banking or financial crime compliance experience including at least 3 years’ hands-on experience in Transaction Monitoring investigations in a sizable financial institution and/or regulatory bodies
Experience in QA, governance, team leading or oversight functions in AML preferred
Good knowledge of FCC and relevant regulatory expectations/requirements
Strong analytical skills with the ability to identify quality issues, trends and improvement opportunities
Holder of Associate AML Professional (AAMLP) Certificate under the HKMA ECF on AML/CFT is preferred
Good command of written and spoken English and Chinese (including Putonghua)