Business Control, Retail Banking

Responsibilities:

1. Retail Banking Risk and Compliance Governance
2. Risk Monitoring & Quality Assurance
3. Internal & External Audit and Regulatory Liaison
4. Cross-departmental Collaboration & Compliance Culture Development

• Develop and maintain policies, operational manuals, and standard procedures for retail banking products and businesses, covering account opening, deposits (current/savings, fixed/time), foreign exchange transactions, transfer payments (FPS, Swift, cross-border payment channels), funds, and other businesses.
• Conduct periodic reviews of retail banking processes, product features, and customer journeys to identify potential operational risks and compliance gaps; implement improvement measures.
• Monitor and interpret the latest regulatory policies/circulars in Hong Kong and the Greater Bay Area (e.g., from HKMA, SFC), ensuring timely updates and compliant implementation for retail banking activities.
• Assist in conducting compliance and risk assessments prior to the launch of new products and processes; provide improvement recommendations and drive their implementation.
• Establish and execute Quality Assurance (QA) mechanisms for retail banking businesses, covering key areas such as account opening, fund transactions and cross-border payments.
• Ensure operational quality and customer experience through sample checks, process monitoring, and error analysis.
• Perform root cause analysis for customer complaints, operational errors, and unusual incidents; drive corrective actions to closure.
• Assist in driving the implementation of compliance requirements within business operations, including AML, sanctions screening, KYC/EDD, customer risk rating, and FATCA/CRS.
• Act as the primary audit liaison for retail banking, coordinating responses to Internal Audit, compliance reviews, and external regulatory examinations.
• Prepare compliance reports, risk assessment materials, and documentation required for audits, ensuring completeness and accuracy.
• Follow up on audit and regulatory findings, driving responsible departments to implement corrective actions and achieve closure.
• Regularly report regulatory concerns, audit findings, and remediation progress to management to support risk decision-making.
• Serve as the primary liaison between the retail banking business and the Second Line of Defense (Compliance, Risk Management), ensuring control requirements are clearly communicated and effectively implemented.
• Facilitate communication among business units, Internal Audit, Compliance, and Risk Management teams to ensure audit and compliance requirements are understood and executed.
• Promote the development of a risk and compliance culture within retail banking, enhancing the compliance awareness and execution capabilities of frontline teams.