Consultant – Markets Compliance, Asia-Pacific
Wells Fargo is one of the largest financial services companies in the world with US$1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through various distribution channels around the world. With more than 270,000 team members, Wells Fargo serves one in three households in the United States.
Wells Fargo’s vision is to satisfy all its customers’ financial needs and help them succeed financially. A key focus of that vision is serving the increasing financial needs of financial institutions, non-bank financial institutions and corporates. More than 3,000 team members cover the international needs of Wells Fargo’s clients from over 35 locations across the globe.
With regional headquarters in Hong Kong, bank branches in Seoul, Shanghai, Singapore, Taipei and Tokyo, representative offices throughout the region, broker-dealers in Hong Kong and Tokyo and a fund administrator in Singapore, Wells Fargo covers a diverse range of businesses in Asia Pacific that includes Wells Fargo Securities, Wells Fargo Asset Management, Global Financial Institutions, Global Banking, Global Payment Services and International Trade Services.
We are looking for a high caliber candidate to join the team in the following key position:
Consultant – Markets Compliance, Asia-Pacific
We are now looking for a professional to join our Compliance function in Hong Kong and provide broad-ranging Compliance support for our Wholesale Banking markets businesses in Asia (primarily Fixed Income Sales & Trading, FX/Rates, M&A, Debt Capital Markets, Asset Management and Fund Administration). The successful candidate will be intimately involved in advising the relevant business lines and developing and maintaining an effective control framework and regime designed to identify, manage and mitigate regulatory risks. This position offers the opportunities and challenges presenting themselves when establishing or enhancing a compliance management infrastructure, program and culture to align with the build-out or expansion in Asia-Pacific of successful Wells Fargo businesses during a period of corporate integration and strategic business expansion.
• Developing, maintaining and enhancing an effective Compliance and Risk infrastructure in Hong Kong and other Asian jurisdictions (ex-Japan) to accommodate applicable legal and regulatory requirements and Wells Fargo enterprise or line of business policies with a view to identifying, assessing and mitigating compliance and risks
• Implementing and administering Compliance and Risk control systems and procedures and monitoring programs for markets businesses; discussing findings or issues and remedial action with business line; undertaking ad hoc issue escalation and periodic reporting to senior management
• Providing comprehensive Compliance and Risk advisory support for current and new or modified business initiatives and in any development, integration or rationalization of markets business activities in applicable jurisdictions
• Interacting with regulatory authorities with respect to general enquiries, licensing, ongoing conduct and reporting requirements, and new or modified business initiatives; leading the response to Compliance and Risk monitoring and testing initiatives, internal audits and external regulatory exams
• Developing and delivering Compliance training to enhance awareness and knowledge of applicable laws and regulatory requirements
RequirementsThe ideal candidate will have: • Relevant university degree and three (3) years of relevant experience gained in an international financial centre. (Outstanding graduates with high potential but no actual compliance experience will also be considered) • Legal or regulatory backgrounds will be considered advantageously • Good knowledge of securities laws and regulations in Hong Kong and/or Singapore. Some familiarity with equivalent securities laws and regulations in other Asian jurisdictions, and U.S. securities and bank holding company laws and regulations desirable • Good understanding of the general operation of international financial markets and the conduct of business on a cross-border basis • Good understanding of the purpose and importance of effective regulatory oversight, risk management and corporate governance • Good understanding of full service global financial institution, including bank and securities operations, and knowledge of financial products/services offered by Wells Fargo, desirable • Ability to identify Compliance and risks and advise on, promote, develop and implement suitable controls, policies and procedures to effectively monitor and mitigate those risks • Ability to identify and advise business line management of changes in the regulatory and compliance environment and design and implement appropriate Compliance and Risk solutions • Ability to influence stakeholders outside of immediate span of control • Excellent oral, presentation and written communication skills; self-motivated; confidence to communicate proactively and effectively with peers and senior management; ability to manage to a set of deadlines and deliverables with limited supervision
- Asset Allocation
- Fund Administration
- Internal Audit
- Mergers & Acquisitions
- Risk Management