Edward Choi

Edward is a director at Protiviti with 14 years of experience in regulatory compliance and internal audit for global financial institutions. He is a leader in Protiviti’s risk and compliance practice and serves the financial services industry in Hong Kong.

Prior to joining Protiviti, Edward was an associate director with KPMG and was responsible for regulatory, compliance and risk management advisory, internal audit, operational enhancement, and performance improvement for the financial sectors in Greater China.

For the past 3 years, Edward has worked at Morgan Stanley and Société Générale, focusing on business unit risk management and compliance assurance and monitoring.

Major projects​

• Global private bank – Developed and implemented a sustainability/ESG framework for business units, which included a firm-wide policy and charter for a governance committee, ESG assessment of prospective clients and new investment products, and preparation of environmental risk disclosure in the financial statements according to the prevailing TCFD framework
• Global wholesale bank – Led compliance review of client ESG assessment, loan underwriting, derivatives sales and regulatory reporting against prevailing APAC regulations, and reported issues and recommendations to regional management
• Global wholesale bank – Reviewed compliance risk self-assessment prepared by compliance and liaised with relevant stakeholders to develop and refine the annual APAC review plan using a risk-based approach
• Global institutional securities – Performed regulatory gap analysis of cash equity activities against Hong Kong Stock Exchange and Hong Kong-Shanghai-Shenzhen Stock Connect regulations and coordinated with business and technology units to enhance systems for addressing the regulatory requirements
• Led over 10 HKMA, SFC and MAS-driven regulatory reviews (s59[2] Banking Ordinance, s201 SFO and other regulator-initiated reviews) of sales and distribution of wealth management products, provision of investment advice, pricing practices (i.e., post-trade spread increase) and cash management practices for retail, private and commercial banks, and asset managers
• Developed and implemented over 10 sales suitability frameworks, including customer risk profiling, product due diligence, transaction and portfolio suitability assessment, and supervision models for various private, retail and virtual banks
• Delivered advisory projects to 7 of the 8 virtual banks, building target operating models from the ground up, obtaining SFC and IA licences and providing business strategy and advisory in the areas of banking, distribution of wealth management and insurance products, and robo-advisory.​

Education

• Bachelor of Business Administration (Professional Accountancy),​ The Chinese University of Hong Kong

Areas of expertise​

• Environmental, social and governance (ESG)​
• Risks and controls​
• Regulatory compliance​
• Internal audit

Industry expertise

• Asset management​
• Institutional securities​
• Private wealth management​
• Wholesale banking

Professional memberships and certifications​

• Fellow of the Hong Kong Institute of Certified Public Accountants (FCPA)
• Chartered Financial Analyst (CFA)​
• Financial Risk Manager (FRM)​
• Certified Compliance Professional (General Compliance Stream)​
• CFA Institute – Certificate in ESG Investing