Head of Private Wealth Management Asia Compliance, Singapore Branch

  • Competitive
  • Singapore
  • Permanent, Full time
  • Morgan Stanley
  • 17 Feb 19

See job description for details

Company Profile

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments and individuals from more than 747 offices in over 42 countries.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethos. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile

Professionals within Legal and Compliance provide a wide range of services to our business units. They might help to structure a complex and sensitive cross-border transaction; advise on a new product introduction; develop a training program or defuse an investor dispute. They preserve the firm’s invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that meet regulatory requirements around the world. They also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firm’s businesses.

Role Profile

The Private Wealth Management (PWM) business of Morgan Stanley in Asia focuses on servicing the investment needs of ultra-high net worth individuals in the region. Morgan Stanley Asia International Limited, a restricted licence bank, is incorporated in Hong Kong and has a branch in Singapore.

Based in Singapore, the successful candidate will report to the Head of PWM Asia Compliance in Hong Kong and to the Head of South Asia Compliance in Singapore. The role is responsible for managing the Firm’s regulatory risk and helping to preserve the Firm’s franchise through ensuring business and infrastructure units’ compliance with relevant laws, regulations, guidance and internal policies and procedures in the region.

Major responsibilities include:

- Advise the Firm on private banking, banking and prudential related issues
- Advise PWM Asia on all regulatory and Firm Compliance matters
- Work closely with the PWM Compliance team in HK to ensure consistency across PWM compliance frameworks and the Head of Compliance South Asia to ensure consistency across compliance frameworks in Singapore

- Work closely with PWM Asia management and infrastructure on new business proposals
- Develop policies, procedures, standards and industry best practices, and monitor compliance with these policies and procedures
- Maintain Compliance documentation including business unit manuals, Compliance Notices, rules databases, risk assessments and Compliance plans
- Conduct periodic desk, adviser and client reviews of Firm activities
- Ensure management and staff are properly registered or licensed
- Build regulatory relationships with regulators, especially the Monetary Authority of Singapore
- Monitor for regulatory changes and communicate such to the relevant staff
- Coordinate internal, external and regulatory inspections, audits, surveys and reviews
- Deal with ad-hoc regulatory inquiries
- Provide training to both professionals and support staff of the Business and Infrastructure Units
- Develop new surveillance reports and systems with IT and PWM Management


Skills, Qualification and Experience

- At least 10 years of relevant work experience in the financial services industry in Compliance or with a securities exchange or securities regulator
- Wealth management experience advantageous
- Strong leadership skills and regional management experience advantageous
- Excellent verbal and written English communication skills essential, fluency in Asian languages e.g. Mandarin or Cantonese advantageous as the role will support clients in Asia
- An analytical mind with attention to detail
- Proactive and able to act independently
- Team player