Business Compliance Specialist/Manager, Greater China North Asia (Senior Associate/Associate Director) Business Compliance Specialist/Manager, Greater  …

Bank of Singapore
in Singapore
Permanent, Full time
Be the first to apply
Bank of Singapore
in Singapore
Permanent, Full time
Be the first to apply
Business Compliance Specialist/Manager, Greater China North Asia (Senior Associate/Associate Director)
At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!

This position within the market is primarily responsible for the banks' client on-boarding, continued AML/CFT monitoring and reviews from Front Office. The successful candidate is expected to maintain high and consistent standards in accordance to the AML/CFT Procedures within the bank. In addition, the successful candidate may also be assigned other compliance/ relevant tasks, assignments or projects.
Main Duties

Client on-boarding
Work with relevant RM/MAs to advise/assist to conduct/review client due diligence (CDD) background checks and screening on prospects, clients and counterparties to identify the risks of the client or counterparty and subsequent submission to Compliance for approval, including submissions to BOS/OCBC 4-man Committee as relevant. Engage Compliance with relevant RM/TH/MH/BM on complex cases and for issue/case resolution and follow up with RM/MA on required pending action where relevant.
Client Reviews
  • Review Periodic Reviews of existing clients to ensure their biodata remains updated
  • Investigation of suspicious transactions surfaced during periodic review
  • Deliver regular progress reports to senior management
  • Liaise with relationship managers / business managers for issues and deficiencies identified during review.
  • Collation of statistics.
  • Work closely with relevant stakeholders to ensure effective review, implementation and adherence to Regulatory policies and procedures
  • Perform risk assessments from regulatory and business developments. Conduct assessment of an array of Risk and Regulatory attestations (RCSA, RRSA, etc.)
  • Facilitate the consolidation of MIS reports for management reporting and support in various risk and governance forums/committees
  • Assist in conducting reviews/sample testing on a risk-based approach to ensure Front Office staff meet the regulatory and Bank policy requirements
  • Collaborate with Front Office to drive completion on various remediation and review exercises (e.g. W8 refresh, FATCA - CRS Submission and RM inquiry, MANTAS, STR, etc.)
  • Provide support to Business Compliance Manager and Head of Business Management in various Compliance-related projects and working groups
  • Assist in tracking of issues and actions escalated by Front Office or management
  • Conduct internal training for staff in front office.
  • Lead projects or process improvements assigned by management.
  • Consolidate review findings and Group management reports to Senior Management.
  • Collation of statistics.
Other Compliance /assignments/projects as assigned by Business Manager

Work Experience Requirements
  • Minimum 5-7 years of experience in AML and client review in a private banking environment.
  • Knowledgeable and sensitive to the risks and suspicious activities typical of private banking clients.
  • Experienced in investigating suspicious transactions.
  • Experience in dealing with sanctions matters, European clients and related language skills would be an added advantage
  • Familiar with excel and preparation of statistics for reporting
Education Requirements
  • University degree and equivalent, or higher education.
  • A recognized Compliance qualification would be an added advantage.

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