Wealth Management Compliance Job Description
Wealth Management Compliance Duties & Responsibilities
To write an effective wealth management compliance job description, begin by listing detailed duties, responsibilities and expectations. We have included wealth management compliance job description templates that you can modify and use.
Sample responsibilities for this position include:
Wealth Management Compliance Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Wealth Management Compliance
List any licenses or certifications required by the position: CRS, CFIRS, CRCM, ACAM, ACAMS, MBA, JD, LOB, CEO, IBF
Education for Wealth Management Compliance
Typically a job would require a certain level of education.
Employers hiring for the wealth management compliance job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Law, Finance, Business, Accounting, Education, Legal, Business/Administration, Economics, Management, Financial Services
Skills for Wealth Management Compliance
Desired skills for wealth management compliance include:
Desired experience for wealth management compliance includes:
Wealth Management Compliance Examples
Wealth Management Compliance Job Description
- Develop new surveillance reports and systems with IT and PWM Management
- As part of the investigation process, identify compliance risk and control gaps and communicate findings to management
- Leading and developing a team of compliance professionals
- Ensuring successful delivery of compliance plans and the accurate, timely and expert level advice to your team and stakeholders
- Drafting, reviewing, updating and implementing policies, procedures and standards as required
- Managing and delivering on compliance projects and investigations as required
- Working with other internal compliance teams to ensure effective compliance monitoring, surveillance and assurance and the identification, reporting and resolution of compliance incidents and breaches
- Evaluating existing surveillance models and scenarios
- Identify and document needs from the various WM Compliance teams, including Surveillance (Field, Capital Markets, Investment Advisory), Inspections (Branch Exams, Operations Testing, non-branch OSJs, Targeted Assessments), Field Compliance (Registration, Regional Compliance Officers)
- Design risk-based solutions based on a consultative process involving the WM Compliance users, IT, Global Compliance partners and other stakeholders
- Strong analytical, problem-solving and presentation skills, including the ability to distill complex issues and information into concise and meaningful messages
- Superior knowledge of standard office environment technology applications
- Good understanding of the regulatory framework for the private client business, and products
- Experience in surveillance, operational flow of products and system knowledge is an advantage
- Energetic, attentive to detail and capable of multi-tasking in a fast-paced environment
- Candidates must have excellent interpersonal skills and the ability to work effectively in a team-oriented setting, prioritize projects to meet tight deadlines
Wealth Management Compliance Job Description
- Review and analyze compliance reports
- Maintaining various Excel spreadsheets for the department
- Providing advice and support to the PWM front office teams on Compliance polices and EMEA and US regulations
- Conducting trading and suitability surveillance using automated surveillance systems and forensic investigations
- Review and approval of “non-traditional” PWM client relationships
- Ownership and development of the annual Compliance Training Plan
- Review and investigation of client complaints
- Review and approval of financial promotional material
- Analysis of cross border impact of regulations to understand viability of offering PWM’s investment services into multiple jurisdictions across the EMEA region
- Maintaining and documenting Compliance policies and procedures (primarily Compliance Notices and the Compliance Manuals)
- Ability to read and write Chinese is preferable
- Relevant Wealth management experience
- Excellent verbal and written English communication skills essential, fluency in Asian languages Mandarin, Cantonese and/or Bahasa advantageous
- University degree holder in related disciplines including finance, business
- Strong knowledge in local rules and regulations and awareness of regulations in Singapore, China, Taiwan and Korea will be a plus
- Strong personal effectiveness skills, which include motivation, the ability to influence and negotiate, adapt to varying conditions and seize personal development opportunities
Wealth Management Compliance Job Description
- Reviewing and providing Compliance approval for marketing materials for the PWM business
- Providing Compliance support on sales related complaints
- Leading or assisting in any ad hoc projects as necessary
- Providing support and guidance to the senior management Wealth Management UK
- Developing and maintaining a robust compliance framework in conjunction with the Compliance Management team regionally in the UK and globally within Wealth Management
- Oversee and manage Wealth Management UK Compliance team
- Oversee the Wealth Management UK senior management business relationships providing support, advice and guidance to the UK Wealth Management head and team
- Oversee development of compliance training (including Compliance induction training) to this business as requested / required
- Act as a recognized point of escalation for all Wealth Management UK Compliance issues
- Review and assess cross border issues on both a product and customer level and liaise with local legal/compliance departments as necessary
- 7-12 years+ of risk management/compliance or related experience
- 3-5 years experience in data analysis, statistical and predictive modeling
- Proven experience in developing visualizations to aid understanding of structured and unstructured data (e.g., Tableau, Qlikview or Business Object)
- Proven experience assembling, scrubbing and manipulating large data sets
- Basic knowledge of the regulatory environment including Corporations Act, exchange rules and the Australian regulatory framework
- An understanding of ASIC retail client requirements
Wealth Management Compliance Job Description
- Identifying, documenting and implementing system needs and/or system changes required to meet requirements of the Patriot Act and related money-laundering regulations
- Developing, delivering and monitoring general AML and position specific training
- Monitoring of compliance activities related to the Patriot Act and anti-money laundering regulations
- Preparing, approving and monitoring timeliness of various government reports and filings
- Managing the AML staff
- Review Complaints generated from line of business to provide guidance on remediation, escalation and to determine if there is any regulatory impact
- Provide effective challenge and guidance on compliance risks and support line of business through various interactions and forum engagements
- Assist line of business in the development and maintenance of the Compliance Program, such as how to monitor, report, and train
- Participate in reporting activities, including reports used by Senior Leadership
- Partnering with the Global Product Solutions (GPS) business within WM to provide advice and guidance concerning rules, regulations and internal policies / procedures as they apply to products in development and approved products being distributed
- Demonstrates ambition and energy towards the day to day responsibilities
- Ability to work effectively both as a part of a team and autonomously
- Strong skills in data analysis and presentation of information
- Ability to execute multiple projects at the same time
- Full understanding of all significant regulatory compliance requirements applicable to RBWM businesses (Bank Act, Securities Commissions regulations SROs rules)
- Pursuing a Bachelor’s degree in business or law
Wealth Management Compliance Job Description
- Maintaining a thorough and up to date understanding of investment adviser and mutual funds investment management regulatory requirements, including front office, operations and fund accounting
- Acting as the GPS Business Line Advisory
- Representing Compliance to the business and providing advice in regards to regulations and compliance related matters across all WM product lines
- Providing impact analysis and assisting with practical solutions as a result of requirements arising from the implementation of FCA Regulations, European Union Directives and other regulatory developments, in respect of new and existing products
- Advising on regulatory changes to ensure WM policies and procedures can be updated on a timely basis
- Providing training to the WM businesses on compliance, regulatory and reputational risks as related to products, trading, client services and other subjects
- Providing 1-2-1 Compliance training to individuals newly FCA registered in order to advise retail clients
- Preparing Marketing Materials and Transactions
- Reviewing and approving marketing material/financial promotions/client communications
- Liaising closely with Business Lines Advisory and Berlin Compliance to ensure financial promotions relating to products meet global regulatory requirements
- At least 10 years' experience in AML/Compliance/Client on boarding in wealth management - ideally
- 3+ years’ compliance or other relevant financial services experience
- Good product knowledge and trading strategies used by PWM, structured products, alternative investments, derivatives
- At least 8-10 years of relevant experience in a Legal, Compliance/Regulatory role in a private banking or asset management capacity
- Good working knowledge of Singapore regulations
- A team player who is able to interact with other control functions to deliver on goals and objectives