Description

Position Description

The FATCA Compliance Associate is responsible for the execution, monitoring and enforcement of compliance with Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). The ideal candidate will have experience with FATCA/CRS regulations, a good understanding of the financial services industry, and possess strong knowledge of corporate and investment business structure.

The Compliance Associate is required to ensure adherence to all applicable rules, regulations and internal policies - understanding and applying these standards effectively. This role also involves performing periodic reviews on existing clients and participating in remediation projects. This position also focuses on due diligence and reporting process for Chinese clients, high priority and special situations clients. The Compliance Associate will also provide backup support to the FATCA Operations team based in CLSA Pune.

Key Areas of Responsibilities

FATCA CRS Compliance

• Analyze regulations for impacts to business lines across key financial centers
• Implement and maintain policies, procedures, and controls to ensure ongoing compliance
• Ensure accurate identification and classification of entities and accounts in line with FATCA / CRS requirements
• Monitor legislative developments and ensure timely updates to compliance frameworks
• Review relevant clauses in legal agreements with external counterparties
• Deliver training sessions to the impacted business and operations teams
• Support the team during the audits processes and respond to regulatory inquiries
• Conduct Client/Vendor/Counterparty Due Diligence, including:
• Verification checks with external data sources and applying reasonableness tests to information collected
• Translation of Chinese documents into English, where required
• Perform sample reviews of tasks completed by the FATCA / CRS Operations team
• Act as back up for FATCA CRS Operations team
• Identify and escalate any compliance gaps or irregularities
• Classify new internal entities per FATCA and CRS regulations; prepare applicable forms; set up records on relevant platforms; monitor changes in circumstances
• Conduct reporting analysis and prepare reports for submission by relevant countries
• Perform reconciliation and remediation activities if required

Other Ad Hoc Compliance Tasks

• Participate in User Acceptance Testing (UAT), when needed
• Conduct regulatory research and analysis when required
• Provide basic regulatory referencing and assistance on smaller projects

Requirements

• Degree holder or above in Finance, Accounting, Law or a related field
• Minimum 4 years' experience in a legal or compliance role, with a focus on FATCA and CRS.
• Alternatively, candidates from professional accountancy or consulting firms with strong knowledge of corporate and investment business structure setups are also well-suited to adapt to this role
• Knowledge in US taxation is preferred but not essential.
• Excellent communication skills (verbal and written) in Chinese (Cantonese and Mandarin) and English are essential
• Strong analytical, problem-solving and investigative skills with a high attention to detail
• Ability to deliver work accurately and on time, with prompt escalation of issues as needed
• Proficiency in Microsoft Office suite (Word, Excel, Outlook) and PDF editing tools.
• Prior UAT experience is advantageous
• Strong prioritization, organizational and multi-tasking skills
• Self-motivated, proactive and eager to learn