Head of Compliance and MLRO
About this role
About Doit
We are focused on reinventing how people spend, save, invest, exchange, travel, and more. Our objective is to build tools that will help people get more from their money and and become an expert at ease. We believe AI will help make finance smart, assessible and safe.
We are looking for the most talented and driven people we can find. We are looking for people who work for their passion, not counting hours. Who loves building great next-generation products, not status quo. Who cares about redefining how everyone around us can get the best financial applications, not for an exclusive few. We have teams working around the world, with over 20 nationalities and growing from our offices and remotely. Join us and build a better future for our society.
In 2019, we built the first mobile-first, insurance platform, enabling insurance to be accessible online by millions in the region. Today, it's the leading insurance platform in Southeast Asia.
About the role
We are building Doit Securities, a new SFC licensed securities business that will bring a digital investing service into the Doit app. We are seeking an experienced compliance professional to be our Compliance Officer and Money Laundering Reporting Officer (MLRO), from the Type 1 licence application through launch and beyond. You will be the Manager in Charge (MIC) of the Compliance and AML/CFT functions. You will report directly to the board and run compliance independently of the business. This is a control role, so it does not carry an SFC licence.
Key responsibilities
Write and maintain the compliance manual and the AML/CFT policies and procedures for the licence application, and help answer SFC enquiries on them.
Lead the institutional money laundering and terrorist financing risk assessment. Set the customer risk rating, due diligence and enhanced due diligence standards for fully digital onboarding.
Oversee transaction monitoring, sanctions and PEP screening and third party deposit controls, and set and tune the monitoring rules.
Act as MLRO. Review internal reports and alerts, decide whether to file suspicious transaction reports with the JFIU through STREAMS 2 and handle law enforcement requests.
Run a compliance monitoring programme that covers the SFC Code of Conduct, the client money and client securities rules, financial resources monitoring, record keeping and staff dealing.
Review client communications, marketing and in app content before release, including the configuration and responses of our AI assistant.
Handle client complaints, escalate breaches and make regulatory notifications to the SFC on time.
Report to the board on compliance and AML/CFT, train all staff, oversee the AML work done by our executing broker and group teams, and support SFC inspections.
Experience and qualifications
At least four years of compliance or AML/CFT experience in Hong Kong financial services, including recent experience at an SFC licensed corporation. Experience in Type 1 securities brokerage is strongly preferred.
Experience as a Compliance Officer, MLRO or deputy MLRO is strongly preferred, including reviewing internal reports and filing suspicious transaction reports with the JFIU.
Working knowledge of the SFO, the SFC Code of Conduct, the AMLO and the SFC AML/CFT Guideline, and of the client money, client securities and financial resources rules.
The seniority and judgement to report to the board, challenge the business when needed and work independently in a small team.
A degree in law, finance, business or a related field. CAMS, an ICA qualification or a similar professional certificate is an advantage.
Meet SFC fit and proper standards. Be based in Hong Kong with the right to work here. Communicate clearly in written and spoken English. Cantonese and Mandarin are advantageous.
Experience with internet brokerage, remote onboarding, US equities or setting up compliance at a newly licensed firm would be valuable.
Why join Doit
Build the compliance function of a new securities business from the outset, with direct access to the board and a real say in how the product is designed.
Please include your CV, current notice period and availability. Regulated operations are subject to SFC approval.
Originally posted on Himalayas
