Job Description

Overall purpose of role 

The China MLRO/Country Compliance will report primarily to the Head of Financial Crime, APAC.  Primary responsibilities include:

• Working closely with the Head of Financial Crime, APAC to ensure that the requirements of Barclays’ Financial Crime Policies and Standards, as well as all local legal and regulatory requirements are satisfied ensuring that all Financial Crime Policies and supporting Standards and Procedures are continuously monitored, evaluated, updated and enforced in a manner that is consistent and adequate given the risk to the enterprise;
• Developing and maintaining effective reporting and communication routines to achieve enterprise understanding of key financial crime issues;
• Ensuring that employees receive Financial Crime training in line with their job responsibilities;
• Assisting the Head of Financial Crime, APAC with monitoring related external events, support Lessons Learned activities and integrate into risk assessment and control development processes;
• Supporting testing and quality assurance programs alongside existing conformance and audit capabilities to determine the adequacy of existing controls to specifically mitigate financial crime risk; and
• Working in partnership with the regional and global Financial Crime teams (e.g., AML, Sanctions and ABC Advisory; Intelligence and Investigations; as well as Compliance Assurance).

The China MLRO/Country Compliance will also be part of the China Country Compliance team and the team reports to the Head of Compliance, Shanghai for China Compliance matters. Primary responsibilities will also include managing regulatory updates, submissions and development/ obligations driven by the China regulators and providing local regulatory compliance advisory to businesses and functions in China.

Key Accountabilities 

• Ensuring appropriate local financial crime controls and procedures are in place to meet local regulatory requirements as well as Barclays policy and standards
• Managing regulatory and audit inquiries as they relate to Financial Crime matters in China, including coordination with the local Compliance function
• Providing advice and guidance to the China Business (all legal entities) to ensure that financial crime risk is managed within risk appetite;
• Interfacing with regional and global counterparts on AML, Sanctions and ABC matters
• Participating in industry and firm-wide regulatory committees to influence policy creation and ensure that such policies and execution are consistent with the needs of regulators; efficiently and effectively assessing and deciding on process risks and identifying potential control weaknesses;
• Supporting the Head of Financial Crime, APAC in briefing executives and business leadership on key messages to present when working with regulators.
• Support rules, regulatory changes and consultations applicable to Barclays, and communicate to relevant parties for implementation
• Support regulatory requests/ submissions including but not limited to enquires, risk assessment, review and inspections etc.
• Support Country Compliance coverage, which includes but not limited to entity authorisations, regulatory reports/ obligations, advisory to business and functions on local rules and regulations and global Compliance requirements applicable to China, outsourcing, cross border advisory and conducting trainings etc.
• Support Country Compliance advisory on business initiatives
• Support verification checks/ Compliance reviews to identify any risk areas for Shanghai Bank Branch to adhere to the requirements 

The Head of Compliance, Shanghai Branch will manage assigning activities undertaken for China Country Compliance matters.

Stakeholder Management and Leadership  

The China MLRO/Country Compliance will interact with senior business stakeholders in Shanghai as well as Financial Crime/ Compliance and support functions regionally and globally. This role will require an effective communicator who must be a relationship builder, who can establish trust and credibility across these internal stakeholders as well as with regulators and other key external constituents. 

Decision-making and Problem Solving  

This role will be responsible for providing advice to the China business on local regulatory matters as well as internal matters escalated such as customer on boarding queries, new product initiatives, other financial crime and China Country Compliance related matters. The China MLRO/Country Compliance will be expected to act as a trusted advisor to the business but maintain awareness of second line of defence responsibilities to check and challenge matters as they arise. A pragmatic approach is important to this role and the ability to communicate to stakeholders detailed financial crime related regulations, policies and procedures in a clear and concise manner. 

The role will also be responsible for coordinating/ driving initiatives and discussion with stakeholders internally to provide Country Compliance advice based on China regulatory requirements. Excellent analytical skill and ability to understand complex compliance issue is required. It is also important to have the ability to take ownership to make sound decision, escalate and respond to issues promptly and appropriately.

Risk and Control Objective  

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards. Take ownership for managing risk and strengthening controls in relation to the work you do.

Essential Skills/Basic Qualifications: 

• Minimum 3 years holding a similar position and with 8years+ relevant financial crime and Compliance experience in China
• Qualification – Minimum University degree required
• Extensive risk, compliance and/or legal experience within financial services.
• Experience in a compliance role focusing on Anti-Money Laundering, Anti-bribery & Corruption, Sanctions and Anti-Terrorism regulation.
• Understanding and detailed familiarity with Chinese financial crime related law and regulations.

• Good knowledge of China regulatory environment for foreign banks
• Good understanding of products and services offered by China business

Desirable skills/Preferred Qualifications:

• Effective in a fast-paced, complex environment and across a wide variety of interpersonal styles and approaches. Likewise, comfortable working at all levels of an organization.
• Hands-on approach, with proven execution/process skills.
• Organized and focused on delivering results. 
• Strong communication skill with confidence and ability to manage stakeholders
• Ability to work independently and collaboratively as part of a team
• Ability to make sound decisions and respond to issues promptly