Mark Y.C. Tsung
Summary
Detail-oriented KYC Analyst executes Know Your Customer activities focusing on client onboarding and exceptions in line with regulatory standards and jurisdictions. Robust knowledge and understanding of regulation affecting KYC program. Interacts and works closely with business stakeholders at all levels of seniority.
Overview
18
18
years of professional experience
11
11
years of post-secondary education
1
1
Certification
Work History
Internal Audit – AML/KYC Senior Auditor
J.P. Morgan Chase Bank
10.2018 - Current
- Led Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) and Know Your Customer (KYC) focused Internal Audit reviews across Corporate and Investment Banking, Commercial Bank and Asset Management throughout the Asia-Pacific region
- As Auditor-In-Charge, led and executed internal audits in the review of process and controls for AML & Financial Crime related process included KYC Customer Due Diligence, performance of additional due diligence on higher risk customers, including correspondent banking customers and those who are assessed to be politically exposed persons, and Sanctions and AML list screening, in order to identify process and control deficiencies, and provide guidance for risk-mitigating control enhancements on identified audit issues
- Performed testing of areas relating to the oversight and governance of AML & KYC, including management escalations and reporting metrics, high risk approvals, policy and procedures and change management
- Coordinate with Compliance and GFCC to provide regulatory responses on monitoring and testing activities carried out by the 2nd and 3rd lines of defence throughout the APAC region
- Oversaw the reporting of audit observations and identified issues to key management and business stakeholders, in addition to internal reporting within Audit and across relevant functions within Compliance and GFCC, both regionally and globally and ensured stakeholder actions to address key risks are appropriately formulated, executed, and validated in a timely manner.
KYC Operations Controls Manager
J.P. Morgan Chase Bank
10.2016 - 10.2018
- Supported the Wholesale KYC Operations (WKO) function being responsible for managing the control environment and operational risk for the Corporate & Investment Bank Client Onboarding operations team located in 12 jurisdictions within the Asia Pacific region
- Managed KYC regulatory exams and ad hoc RFIs, external & internal audits, financial crimes compliance and LOB compliance reviews, issue and action plan management and regulatory reporting
- Conducted targeted independent KYC quality reviews to assess, identify, remediate, and enhance areas of concern or potential risk
- Supported the KYC Operations Procedures team, ensured APAC local requirements are adequately documented to within line of business KYC Operating procedures
- Partnered with 2nd line of defense Global Financial Crimes Compliance (GFCC) and Money Laundering Reporting Officers (MLROs) colleagues across the APAC region to ensure proper execution and application of relevant AML/KYC policies and standards.
KYC Remediation and Renewal Case Lead
J.P. Morgan Chase Bank
06.2012 - 10.2016
- Lead a team of 3 KYC Analysts in the client on-boarding and periodic review process, reviewing KYC records submitted for accuracy, completeness, and adherence to with Local and Corporate Due Diligence requirements as part of the Wholesale KYC Operations (WKO) team
- Actively managed the pipeline of priority KYC renewal and remediation clients, ensuring the adherence of regulatory committed milestones and timelines
- Performed quality reviews of KYC information and documents contained within completed KYC records, communicating noted deficiencies or inaccuracies to the respective KYC Analysts for rectification
- Provided guidance, training, and oversight to the WKO APAC KYC Onboarding team with respect to policies, priorities and procedures, liaising with Quality Assurance (QA) and GFCC Compliance teams where necessary
- Awarded 2014 “CIB CAO Excellence Award” for Client Focus, Controls and Risk Management.
Prime Brokerage Client On-Boarding Specialist
Goldman Sachs
03.2010 - 09.2011
- Supported the APAC Prime Brokerage Client Service team in on-boarding of hedge fund clients, partnering with the Prime Brokerage Sales and the Customer Due Diligence support teams to ensure all required KYC and onboarding documentation and information is properly obtained and updated to relevant KYC systems for timely approval prior to new fund launches
- Ensured timely escalation of potential AML/KYC related issues to Compliance for swift review to minimize potential impact in the on-boarding process
- Co-ordinated with Operations teams such as Custody, Equities, Fixed Income, FX, Swaps and F&O desk for account setup and activation.
Client On-boarding Transition Support
Deutsche Bank AG
07.2008 - 04.2009
- Facilitated the on boarding of Global Prime Finance clients onto the Deutsche Bank Prime Finance platform
- Partnered with Prime Brokerage sales executives to obtain the required KYC and account opening documentation
- Monitored the progress of offshore operation teams to ensure alignment with agreed timelines for account opening and escalation are made to Sales and Senior Management where required
- Co-ordinated with Legal, Credit, Risk and Operations to provide Sales and Business Management periodic status updates of new business priority.
Client Relationship Consultant
BMO Bank of Montreal
05.2007 - 05.2008
- Supported the Bank of Montreal direct brokerage business for retail and high net worth clients, facilitating clients in the execution of Equities, Options and other investment product transactions
- Provided support for new account opening through the collection of customer due diligence information and documentation
- Recognized for Outstanding Client Service 2007.
Financial Services Representative
Canadian Imperial Bank of Commerce (CIBC)
01.2006 - 05.2007
- Supported the CIBC Retail and Business Banking business by promoting personal banking and investment services, including deposit and savings accounts, personal loans, term deposits, mutual funds and other personal investment products
- Facilitated the account opening process through the collection of Customer Due Diligence/Know Your Customer information and documentation
- 2006 Top Performers Award (Scarborough-Agincourt District).
Education
Master of Finance – Wealth Management -
The Hong Kong Polytechnic University
Hong Kong 04.2001 - 01.2012
Bachelor of Arts – Economics - undefined
York University
Toronto, CanadaSkills
Language: English (Native), Cantonese (Fluent)undefined
Certification
Association of Certified Anti-Money Laundering Specialists, CAMS, December 2018
Timeline
Internal Audit – AML/KYC Senior Auditor
J.P. Morgan Chase Bank
10.2018 - Current
KYC Operations Controls Manager
J.P. Morgan Chase Bank
10.2016 - 10.2018
KYC Remediation and Renewal Case Lead
J.P. Morgan Chase Bank
06.2012 - 10.2016
Prime Brokerage Client On-Boarding Specialist
Goldman Sachs
03.2010 - 09.2011
Client On-boarding Transition Support
Deutsche Bank AG
07.2008 - 04.2009
Client Relationship Consultant
BMO Bank of Montreal
05.2007 - 05.2008
Financial Services Representative
Canadian Imperial Bank of Commerce (CIBC)
01.2006 - 05.2007
Master of Finance – Wealth Management -
The Hong Kong Polytechnic University
04.2001 - 01.2012
Bachelor of Arts – Economics - undefined
York University
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