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Job Title: Vice President, Client Asset Control Specialist

Company: US Bank

Corporate Title: VP Salary Range: Permanent
Location: Singapore Date Open: Sept 2019

Responsibilities / Duties:

This is a great opportunity to join the APAC Client Assets Control Group (CACG) which focuses on ensuring compliance with the client assets rules in Asia.

Within this role you will act as a subject matter expert (SME) on client asset regulations and have overall responsibility for managing regulatory reviews, advising core lines of business on client asset impact, incident management, governance reporting and risk routines for the APAC legal entities. This role supports the Client Asset Oversight executive and regional Operations executives, as well as the wider Global CACG team, and involves liaising with counterparts in both AMRS and EMEA due to the legal entity affiliate structure of BofA.

The APAC CACG team supports regulatory compliance with the various countries’ client asset rules. This role offers high-level interaction with internal stakeholders at various levels across the organisation, regulatory bodies and auditors, and would be suitable for an individual with proven experience in client asset regulations and knowledge of complex product lines in a large investment bank.

Key responsibilities

·         Working with and advising local business and operations partners to ensure changes to processes and functions adequately consider the impact to client asset protection processes and controls; this includes regulatory change initiatives;

·         Acting as a key point of contact and coordinator for resolution when client asset incidents occur in APAC legal entities;

·         Planning and coordinating client asset training and workshops for key lines of business and local executives for the APAC legal entities;

·         Managing the client asset audits for each of the in scope regulated entities;

·         Working closely with regional and global senior management executives to ensure established governance and reporting routines facilitate on-going compliance with client asset requirements;

·         Preparing and presenting regular updates to senior management to ensure relevant forums (e.g. Client Asset Governance Committees, local country management forums), individuals and regulatory bodies are informed in a timely manner;

·         Proactive risk assessment of client asset processes and controls, including coordination of the client asset resolution plans;

·         Management of relevant risk routines and metrics for associated APAC legal entities.

Requirements / Qualifications:

·         Practical experience of client assets regulatory requirements (e.g. MAS, SFC) is preferred and has ideally been gained at an Investment Bank or at a Professional Services firm;

·         An understanding of the wider regulatory environment operated in Asia would be beneficial;

·         A strong knowledge of the products that give rise to client assets and the associated operational processes, in particular Futures and Options and/or Securities