Ru Wen Chin

Point of contact for Wholesale Business; majorly on Compliance Anti-Financial Crime ("AFC")/ Anti Money Laundering ("AML") Advisory; from providing advice on AFC/AML laws and regulations in the region, sanctions and embargoes restrictions to transactions, clients' onboarding and product specific requirements as well as on Regulatory related matters; product launching, surveillance, marketing materials etc.

• Provide compliance advice and guidance to the business on HSBC Group Policy and local regulatory requirements to ensure that appropriate compliance programs, policies, procedures, and other controls are in place and operating effectively and satisfy supervisory obligations and regulatory expectations. This includes Anti Money Laundering, Terrorist Financing, Sanctions and Prohibitions, Anti Bribery and Corruption and other applicable regulatory requirements impacting business operations
• Provide advice to management in respect of new products and services, or variations to existing products and services. Provided advice to senior management on potential risks, legal implications, and recommended solutions for complex compliance issues.
• Reviewed business contracts for compliance with regulatory requirements, minimizing legal exposure and ensuring all commitments were met.
• Supported the implementation of new regulations within the organization by developing strategic plans and action items for each department.
• Reviewing regulatory feedback and customer responses to ensure that compliance issues raised in feedback are appropriately responded to and necessary corrective actions are initiated
• Collaborated with cross-functional teams to establish clear compliance guidelines and expectations for all departments.
• Managed investigations into potential violations of laws or regulations, ensuring swift resolution and corrective actions when necessary.
• Played instrumental role in company-wide risk assessment efforts, supporting enhancements in business processes and controls.
• Monitored emerging trends in regulatory requirements, anticipating potential impacts on the organization''s operations.
• Reduced risk exposure for the company by identifying and addressing areas of noncompliance.
• Reviewed documents, files, transcripts, and other records to assess compliance and potential risk.
• Streamlined compliance processes by implementing efficient monitoring systems and tools.
• Maintained effective working relationships with regulatory authorities.
• Succeeded in maintaining a positive relationship with regulators through proactive engagement and timely responses to inquiries.
• Prepared records and data for regular audits.
• Formulated detailed recommendations based on audit findings to support annual planning and definition of goals.
• Prepared and presented comprehensive reports to upper management; covering issues and recommendations.
• Supported marketing team in review and submission of articles and newsletters.
• Kept new and modified products and services in conformance with security and compliance regulations.
• Investigated potential compliance violations and reported findings to senior management.
• Kept up to date on compliance trends and rulings using meticulous research and study.
• Analyzed and identified risk areas to determine compliance with applicable laws and regulations.

Point of contact for Compliance Anti-Financial Crime ("AFC")/ Anti Money Laundering ("AML") Advisory; from providing advice on AFC/AML laws and regulations in the region, sanctions and embargoes restrictions to transactions, clients' onboarding and product specific requirements

• Policies

o Maintain, review, update and assist in the implementation of Anti-Financial Crime (“AFC”) and Anti-Bribery Corruption (“ABC”) policies and procedures to ensure the bank's alignment and consistencies with all relevant global and local regulatory requirements (KYC Policy, Sanctions and Embargoes, Transaction Monitoring and relevant policy)

o Written and implemented the transaction monitoring policy and framework; specific to DB Malaysia; incorporating internal requirements as well as Bank Negara Malaysia's requirements (Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Designated Non-Financial Businesses and Professions (DNFBPs) & Non-Bank Financial Institutions (NBFIs) (AML/CFT and TFS for DNFBPs and NBFIs)

• Risk Assessment

o Conduct the AML/AFC Risk Analysis for all the business units/divisions/entities of DB Malaysia – periodic review; includes inherent and residual risks

o Review and analyze risk performance metrics, develop insightful and actionable reporting across the funds, escalate significant incidents, key trends and queries for management’s attention as well as regulator (BNM)

o The operational risk management programs include Key Risk Indicators (KRIs), Operational Risk Events and Complaint handling process management and reporting

• Regulatory submission

o Responsible for Bank Negara Malaysia (“BNM”) Suspicious Transaction Reporting ("STR"), ORION Key Risk Indicator (“KRI”), Statistical and Fraud reporting and submissions

• Transaction Filtering

o Review and assess real time transactions (includes trade related documents and transactions); based on adverse news' hits generated during screening

o Provide transaction approval post risk assessment

• Transaction Monitoring

o Implementation and enhancements to the threshold of transaction monitoring system; eg: ATL/BTL threshold by incorporating local requirements; by closely coordinating with global and regional teams and participating in projects and initiatives to improve existing Transaction Monitoring systems and controls.

o Establish, review and update SOPs, processes and guidelines for effective controls that are efficient and meet regulatory best practices and industry standards.

o Identification of key error trends, provide guidance on new typologies and implementation of training

o Oversee and review the day to day AML (Anti-Money Laundering) compliance operations covering AML alerts arising from monitoring systems and escalation cases

• AML awareness and training

Collaborate with relevant stakeholders to address AFC/AML compliance issues and enhance regional compliance culture and awareness

o Provides ongoing and annual trainings related to relevant AFC/AML regulatory developments, compliance policies and procedures

o Coordinates bank-wide training on Gifts and Entertainment ("GnE") policy – specific to Anti Bribery and Corruption ("ABC")

o Provides onboarding trainings to new joiners – AML specific

• Know-Your-Client (“KYC”)

o Analyzing new and existing customers' profiles and transactions in the relevant sanctions, money laundering (ML) and terrorism financing (TF)

• Audit

o Managing and dealing with Internal and External Audit reviews on the team and Bank

o Liaise with audit review from Regulators

• Fraud Investigation

o Investigated fraud referrals and performed research to minimize risk and resolve inquiries

o Identified threats, vulnerabilities and suspicious behavior patterns to recommend mitigation measures

o Interacted with law enforcement agencies, regulators and financial institutions to coordinate investigations related to fraudulent activities.

o Documented research findings to support risk-based decision-making and resolution to escalated fraud incidents

o Prepared reports, metrics and research to support fraud initiatives and projects

o Investigated activities of institutions to enforce laws and regulations, assessing legality of transactions and operations or financial solvency.

Transaction Monitoring

• Analyze APAC transactions that are sourced via various source systems such as MANTAS; focusing on Private Wealth Management ("PWM") and Corporate Wealth Management clients
• Familiar with systems such as FORTENT, QUICKSCREEN, FTMON, NESS, Bridger, PRPC etc; that are used to monitor and generate transactions
• Familiar with transactions monitoring indicators/scenarios such as Rapid Movement of Funds, Change in Behavior, Regional Cash Monitoring, Intraday Structuring etc.
• Responsible due diligence reviews, source additional KYC information, AML risk profiling and review adverse news noted on clients at the time of review

• Investigate and assess transaction monitoring alerts for potential money laundering risks (red flags) with the Bank
• Cases are reviewed and closed if deemed low risks due to no visible red flags/concerns. In the event of red flags are noted/concerned; information are requested from Relationship Managers for further clarification from clients. Cases are further escalated if transactions are deemed to be and/or has reasonable doubt to suspect and a Suspicious Activity Report ("SAR") will be considered.
• Approving cases/reports for closure based on sound judgments (through experiences) in addition to further escalating them to Managers on cases that are deem/require further review
• Provide class and systems' trainings and guidance to new joiners (shadowing process)