Business Compliance Officer - FI AML CDD/EDD Reviewer (6-month contract)
The position of the FI AML CDD Reviewer is part of the in-business Global Financial Institutions AML team and reports to the FI AML Head. The FI AML CDD/EDD Reviewer is responsible for gathering and analysing Client KYC information to conduct Customer Due Diligence reviews of OCBC Financial Institution Clients.
Roles and Responsibilities - Perform onboarding, periodic and trigger CDD/EDD review of Financial Institutional customers (ie. Banks and Non Bank FIs)
- Liaise with customers to obtain updated information
- Understanding of how risk factors impact client risk rating
- Identify and escalate any unusual activity / transaction activity not consistent with client profile
- Conduct research via available Bank systems and commercial databases as well as internet
- Review and evaluate recent negative news related to clients
- Recommend relationship strategy where applicable
- Work closely with the relationship managers to assist the department in complying the AML/KYC requirements
- Act as a subject matter expert in the execution and implementation of CDD/EDD requirements in accordance with OCBC's related AML/Sanctions policies and procedures
- Interface with relevant units and the business in regards to compliance reviews, investigation, as well as other ad-hoc projects
- Assist with compliance audits, including internal and MAS-related audits
Reporting to: *LI-VW
Qualifications - A university degree in Accounting/Banking/Finance or related discipline
- At least 2 to 6 years of experience in conducting CDD for institutional clients; preferably with understanding of Correspondent Banking
- Basic working knowledge of Singapore AML laws and regulations relative to money laundering and terrorist financing
- Identifying and understanding the AML and Sanctions Risk associated with Financial Institutions clients and good awareness of banking controls is key for this role
- Ability to analyze client information and documentation to facilitate account opening, on-going name screening and periodic reviews
- Proficiency in MS office applications / Public Domain searches / Factiva
- Excellent analytical, interpersonal, communication and writing skills
- Independent and ability to multi-task and meet multiple deadlines
- AML Certification (ACAMS) or other AML / Compliance certification preferred
