Vice President, Client Profiling (Customer Due Diligence) - HSBC Life

at  HSBC

Job description

SOME CAREERS OPEN MORE DOORS THAN OTHERS.

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
HSBC Life in Singapore is the combination of AXA Singapore and HSBC Insurance. Here you can specialise in Insurance but enjoy the advantages that come with being part of a leading global international bank.
Insurance is about people, and the promises they make. At HSBC Life in Singapore we help deliver on these promises by providing a wide variety of life insurance products and services to our clients throughout the Asia-Pacific region. Our employees enjoy a dynamic and innovative workplace and a world of opportunities to develop their careers in a high-profile growing business segment. We empower our combined team of high-performing individuals to build skills and explore new experiences to realise the full potential of being part of HSBC.
Together we will pursue efficient ways of working. We will harness the latest data and technology solutions to achieve meaningful outcomes for our clients. And the protection we offer will create broad and lasting impact, helping clients to be healthier, more productive and more confident in their futures.
We are currently seeking a high calibre professional to join our team as a Vice President, Client Profiling (Customer Due Diligence).
Principal Responsibilities

The position will support Insurance’s non-bank customer onboarding KYC data and document due diligence review. Perform KYC and ID &V checks on new clients in accordance with policies, standards and procedures.

• Head the Client profiling, Customer Due Diligence (CDD) Unit in managing Financial Crime exposure from customers. Reporting to VP BFCRR and Head of Insurance Operations. Work closely with Chief Control Officer (CCO), BFCRR, functional reporting, Financial Crime Compliance (FCC), risk stewards, and the business Distribution-agency, underwriters, case managers and SMEs
• Manage the onboarding, periodic review and trigger review for customers for Primary Account ownership (PAO) and Insurance Managed Customers (IMC) or non-PAO customers for individuals, trust & private investment companies, and operating business customers
• Maintain systematic and proper record of CDD profiles to ensure business continuity. Maintenance of procedure manuals
• Driving change initiatives in deployment of CDD system platform when the need or opportunities arise
• Being the local expert on CDD advice to production and project stakeholders through the application of knowledge acquired
• Responsible for the analysis of the monthly MI Qlikview report from source of business, produce and report statistics and status on customer profile changes and follow through. Escalate observation received and action on follow up items
• Accurately determine the number of account activity reviews to be performed following completion of CDD review by the Line of Business and ensure AAR are completed on time
• Participate in the preparatory phase to implement the onboarding of non-bank insurance applicant using Line of Business system and platform aligning to Line of Business Procedures of HSBC, WPB and INS Singapore
• Advise, review, establish and corroborate on the Source of Wealth and Source of Fund of insurance applicants in accordance with the prevailing prescribed line of business procedures and guidelines
• Review customer due diligence requirement on different customer types including individuals, entities, trusts & private investment vehicle at on-boarding and policy servicing
• Manage SME review of HNW, Ultra HNW, Jumbo, complex and IFAS portfolio and client, distribution experience
• Review and advise changes driven in client profile and request additional information from customer to substantiate the changes. Validate, assess impact, communicate and execute changes where needed
• Maintenance of procedure manuals for CDD & KYC for onboarding and periodic review and provide training, development and competency
• Manage and articulate audits on the business from internal/external auditors and regulators including BFCRR and FCC
• Co-ordinate and manage CDD related initiatives and projects. Drive CDD related process improvement reviews and initiatives with an aim to streamline process whilst comply with regulatory or policy changes, as well as to improve customer experience and service turnaround time

Others

• Manage Financial Crime related matters including review and advise on screening, account activity review, Transaction monitoring requirements in accordance with regulations and HSBC FIM

Requirements

• Educated to degree level in Accountancy, Finance, Business Administration, Technology or related field
• Proven min 7-10 years relevant extended experience in handling customer due diligence and KYC including screening on customers with preferred analytical skills on customer financial background is a must
• Proven ability to manage data extraction, MI analytics, investigate issues and solve compliance anomaly
• Ability to manage pressure and stressful business demands. teamwork, collaboration, responsiveness and demonstrate accountability & ownership
• Experience of managing stakeholders in Audit or Internal Control assignments
• Demonstrable insurance business knowledge will be a plus
• Able to plan, track and control operational activities
• Understanding of HSBC strategy, organisation, systems and processes will be a plus
• Knowledge of the external environment – regulatory, political, competitors, etc
• Drive and motivation to ensure delivery in a challenging environment
• Track record of positive interactions across the business and functions
• Ability to form effective business relationships and rapport at all levels of the organization
• Ability to communicate effectively and confidently across cultures in the organisation. Communication and interpersonal skills, including the ability to articulate in the language of business
• Ability to work effectively under pressure with competing and rapidly changing priorities
• Proven behaviour to do the right thing, take accountability personally, demonstrating good time management & commitment to the assigned deliverables
• Excellent English written and verbal communication skills, Word, Excel and PowerPoint presentation

To be considered for this role, the relevant rights to work in Singapore is required.

Please refer the Job description for details