Wealth Management Business Risk Managers (BRMs) play a key role within Wealth Management (WM) first line of defense. Reporting to the Head of WM, BRMs are the internal referent, for one or for several markets, on several subjects.
Objectives
Ensure adequate AML and KYC risk mitigation and adherence to Bank’s Qualitative Risk appetite on client onboardings, change in circumstances (CIC), and other reviews before Compliance review as well as the completeness of corroboration.
Ensure continuous AML/CDB risk framework awareness, keeping WM knowledge, education and sensitivity up-to-date.
Synchronize with Compliance Remediation and Onboarding as well as Client Documentation teams to ensure standards are met on onboarding, mutations (CIC) and reviews and to escalate any detected risks or operational issues.
On a risk-based approach, validate and control the appropriateness and exhaustivity of the documentation and of the corroboration on outgoing payments in order to mitigate AML and sanctions risks.
Ensure that all transactional AML Alerts meet the Bank’s and Regulator’s standards.
Increase risk awareness within the WM Markets by ensuring that RMs are aware of internal directives, of the regulatory requirement and updated on all new practices with a focus on AML, CDB and Sanction subjects.
Upon Management’s request, act as a relay of authority within the WM Markets on certain initiatives.
Any other task required by Management relating to the Mission of the employee.
Governance
Regular meetings with appropriate 2nd line of Defence functions to ensure consistency of knowledge and practices.
Regular meetings with MH to review the ongoing subjects and propose action plans for the low performers.
Regular reporting on activity and associated risks.