Vice President - Private Wealth Middle Office Compliance Officer

The Private Wealth Middle Office Compliance Officer plays a pivotal hybrid role across the compliance and middle office function, ensuring the smooth operation of client due diligence, regulatory and business controls as well as regulatory reporting administration for high-net-worth clients. Acting as a key interface between front office, operations, compliance and other control functions, whilst dual-hatted, you will be engaged with Nikko client KYC review, sanctions, adverse media screening alerts, transaction management and data reporting as well as client due diligence frameworks, policies and procedures update, controls development, reporting design, data process automation, operational efficiency and regulatory compliance. This role reports into SMBC PWG MO function and is dual hatted into Nikko Private Wealth Compliance function.

Key Responsibilities:

• Perform KYC/AML/Sanctions related reviews for new and existing Nikko PW clients.
•  Evaluate product suitability and client eligibility as well as tax classification (reason to know elements) against the established KYC profile.
• Prepare, maintain, and organize materials (training, checklist, guidelines), contributing also to NPC proposals, and ad-hoc information requests.
• Respond promptly to client queries and coordinate internal / external follow-ups.
• Support front office pipeline prioritization, ensuring timely and accurate execution of necessary reviews and account refresh activity.
• Help identify process efficiency opportunities and assist in change initiatives.
• Develop, implement, and monitor key controls for regulatory related processes inherent to the account opening and KYC maintenance processes.
• Maintain updated client records and manage information in CRM systems.
• Collaborate with internal teams (across Nikko Securities and SMBC Bank) such as investment, product, and operations to help deliver seamless client service.
• Assist in planning and coordinating intra and cross departmental training regarding client KYC, product suitability and client eligibility.

In more detail for:

• KYC/AML/Sanctions focus

Client Onboarding & Periodic Reviews (Nikko PW Compliance)

• Assess compliance with applicable AML/CFT, sanctions and Accredited Investor requirements.
• Perform independent compliance reviews of Nikko PW client onboarding and periodic review documentation.
• Provide guidance on compliance matters arising from Nikko PW onboarding and periodic review processes.

AML/CFT and Sanctions Advisory

• Provide AML/CFT and sanctions advisory support to the SMBC Nikko Private Wealth business ("Nikko PW").
• Assess the impact of new regulatory requirements relating to AML/CFT, sanctions and client due diligence, and conduct gap analyses where required.
• Develop, maintain and enhance AML/CFT, sanctions and client due diligence frameworks, policies and procedures for Nikko PW.

Financial Crime Compliance (Nikko PW Compliance)

• Review and disposition alerts arising from name screening and transaction monitoring activities.
• Investigate potential sanctions, adverse news, unusual transaction concerns, and escalate suspicious transactions/ activities in accordance with internal requirements.
• Support the ongoing enhancement and effectiveness of financial crime controls, surveillance processes and related systems.
• Perform periodic reviews and tuning of screening and monitoring thresholds to ensure parameters remain appropriate, effective and fit for purpose.

•  Business Controls and Governance focus

Governance, Reporting & Training Compliance, Governance & Business Support

• Monitor compliance with Accredited Investor requirements.
• Prepare management information, risk reports, dashboards, regulatory submissions, EWRA and other AML/CFT-related reporting whether for use by Nikko PW compliance or MO function.
• Deliver AML/CFT, sanctions and compliance training to SMBC Bank Private Wealth Group (“SMBC PWG”) staff who has been dual hatted into Nikko PW.
• Liaise with internal stakeholders, Head Office and external service providers on Nikko PW compliance, MO business controls and audit-related matters.

• Support compliance monitoring, self-assessments, regulatory projects, audits and regulatory inspection initiatives relating to Nikko PW Compliance and SMBC PWG.
• Provide support for governance, control and operational initiatives undertaken across the SMBC PWG to promote efficiency and effective utilisation of shared resources between SMBC PWG and Nikko PW.
• Undertake such other compliance, governance and business support (i.e. PWG Middle Office) responsibilities as may be assigned by Nikko PW Compliance and SMBC PWG.

Qualifications:

• Bachelor’s degree in Finance, Business, Economics, Law or related field.
• At least 10 years of experience in banking, wealth management, or financial services, prefereably obtained within the compliance and/or Operational Risk, Business Controls space.
• Good understanding of KYC, Sanctions, regimes, client onboarding, financial products and market dynamics.
• Strong organizational skills with attention to detail.
• Excellent communication and interpersonal abilities.
• Familiarity with regulatory standards and compliance processes.
• Proficiency in Microsoft Office and CRM tools.

Skills & Attributes:

• Client-focused with a proactive mindset
• Ability to manage multiple tasks efficiently
• Strong teamwork and collaboration skills
• Analytical and problem-solving capabilities
• High integrity and professionalism