IWM Compliance VP

Company overview

Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com

Job Description

Job Title: IWM Compliance VP

Corporate Title: Vice President

Department: Compliance        

Location: Singapore

Licensed Role: No

 

Department Overview:

IWM Compliance within Asia Legal & Compliance partners with International Wealth Management (IWM) and other corporate functions to serve and protect the firm as a second line of defence by identifying, analysing and mitigating compliance risks and to promote risk and control ownership across the firm and together with others foster a culture of ethics and compliance.

 

Role Overview:

We are seeking an experienced private banking compliance person for our IWM Compliance team in Singapore. As a VP reporting into the Head of IWM Compliance AEJ in Singapore, this position requires deep regulatory expertise in the private banking industry in Singapore with good working knowledge of regulatory requirements and expectations for private banking activities across Asia and Middle East.

The successful candidate will provide regulatory compliance guidance advice for all activities of IWM in Singapore, which is the main booking centre for IWM. This role demands a seasoned professional who can navigate the intricate regulatory environment while supporting business growth initiatives and maintaining strong relationships with key business stakeholders. This role will be part of the IWM Compliance team in SG and will work closely with IWM Compliance teams in HK and DIFC to support IWM.

 

Role Description:

This role is responsible for providing compliance support to the International Wealth Management division in Nomura Singapore Limited. Specifically:

• Provide daily compliance support and advice to IWM on regulatory requirements applicable to the business. Such advice could pertain to Lombard lending, new products and services, marketing materials, transactions, conflict assessment, client events, gift and entertainment, etc
• Monitor changes and developments in Singapore banking and securities laws and regulations. 
• Partner with IWM in growth initiatives, participate actively in working group discussions, providing advice and steering the project to fruition in a compliant manner, and drafting new compliance guidance where required.
• Investigate client complaints and incidents to identify potential compliance/control lapses. 
• Provide training on new or updated compliance policies and procedures. Conduct refresher training where required. Draft and issue Compliance Alerts where necessary.
• Review and assess regulatory implications for potential breaches of Compliance P&P such as use of unathorised channels for communications and client confidentiality breaches by IWM.
• Review escalations of alerts by Compliance Surveillance and Data Loss Prevention teams in relation to internal and external communications of IWM.
• Conduct compliance monitoring and desk reviews as 2nd Line of Defence to ensure the business is meeting the requirements of the relevant AEJ Compliance policies.
• Coordinate submission of periodic or ad hoc regulatory reports.
• Handle regulatory inquiries, examinations and internal/external audits and work with Country Compliance team to liaise with regulators where required.

 

Skills, experience, qualifications, and knowledge required:

• Minimum 10 years’ experience in regulatory compliance in a private bank or wealth management unit of an international financial institution in Singapore. 
• Demonstrated knowledge of SFA, FAA and Banking Act in Singapore. Demonstrated knowledge of MAS notices and circulars such as MAS Notice 1115 and 1106. Familiar with Singapore Private Banking Code of Conduct and regulatory expectations on investment suitability, pricing controls and disclosures. Awareness of regional financial regulations and international private banking best practices is a plus.
• Demonstrated understanding of private banking services such as Lombard lending. Knowledgeable in products such as funds (mutual funds, hedge funds, alternatives, private equity etc), listed equities, fixed income, FX, derivatives, discretionary portfolio management etc. Experienced in advising the business on the suitability and disclosure requirements pertaining to the products and services.
• Knowledge of Singapore Trust Companies Act and experience in providing compliance advice to licensed trust companies in Singapore. Knowledge of MAS FRC/FO framework would be advantageous.
• Good analytical and investigation skills, experienced in conducting interviews with staff under review.  
• Hands-on and proactive, able to work independently. 
• Experience in handling queries from and dealing with MAS and other regulatory bodies.
• Experience in conducting monitoring, surveillance and desk reviews.
• Degree or equivalent preferably in a relevant discipline.

 

Nomura Competencies

Explore Insights & Vision
·  Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.Making Strategic Decisions
·  Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.
Inspire Entrepreneurship in People
·  Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.
Elevate Organizational Capability
·  Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing. 
Inclusion 
·  Respect DEI, foster a culture of psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

Diversity Statement

Nomura is committed to an employment policy of equal opportunities, and is fundamentally opposed to any less favourable treatment accorded to existing or potential members of staff on the grounds of race, creed, colour, nationality, disability, marital status, pregnancy, gender or sexual orientation.

 

DISCLAIMER:  This Job Description is for reference only, and whilst this is intended to be an accurate reflection of the current job, it is not necessarily an exhaustive list of all responsibilities, duties, skills, efforts, requirements or working conditions associated with the job.  The management reserves the right to revise the job and may, at his or her discretion, assign or reassign duties and responsibilities to this job at any time. 

 

Nomura is an Equal Opportunity Employer