Compliance Manager- AML Policy, Strategy & Governance (Associate Director/ Director) Compliance Manager- AML Policy, Strategy &  …

Bank of Singapore
in Singapore
Permanent, Full time
Last application, 04 Dec 21
Competitive
Bank of Singapore
in Singapore
Permanent, Full time
Last application, 04 Dec 21
Competitive
Compliance Manager- AML Policy, Strategy & Governance (Associate Director/ 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!

AML Policy, Strategy and Governance team member in charge of overseeing: (i) AML/CFT policies and procedures of BOS; (ii) strategic project to uplift AML/CFT governance and controls effectiveness in BOS/OCBC; (iii) Board and Senior Management Reporting on financial crime risks and controls effectiveness metrics and significant matters.

MAIN DUTIES
Oversee AML/CFT policies and procedures for BOS
  • Strengthen AML/CFT policies and procedures and implement effective controls measures together with relevant internal stakeholders to comply with regulatory requirements relevant to the business and operating environment.
  • Review policies and procedures regularly, taking into consideration emerging risks and new money laundering/terrorism financing (ML/TF) typologies observed.
  • Actively monitor regulatory developments in Singapore and other jurisdictions in which the Bank operates in; and keep abreast of regulatory expectations and industry best practices. Perform impact and gap analysis in a timely manner before proposing sound recommendations and action plans to address the self-identified gaps.
  • Prepare training materials and deliver effective training on revised policies and procedures and case studies/typologies (including lessons learnt from other financial institutions' AML/CFT controls failures).

Anchor for Strategic Project to Uplift AML/CFT Controls jointly conducted with OCBC Group Financial Crime Compliance
  • Key responsibilities include: (a) continued co-creation with the regulators on the Uplift project (including raising risk awareness of front office and ensuring robust controls execution at both first and second lines of defence); (b) collaborate with Strategic Uplift Programme Steering and Working Committees both at BOS and at OCBC level to drive uplift initiatives implementation at BOS and its Group of entities; and (c) work with BOS Business Compliance to uplift controls at the front office.
  • Prepare presentation materials and craft key messages for regular engagement sessions with regulators.

Board and Senior Management Reporting
  • Drive initiative to enhance Senior Management reporting of AML/CFT/Sanctions risks.
  • Monitor and track timely implementation of Uplift initiatives in BOS Group, and design effectiveness measurement metrics and high impact framework alongside OCBC Group for regular reporting to Board and Senior Management.
  • Prepare and review reporting of financial crime compliance statistics and significant AML/CFT matters to Board and Senior Management.


Qualifications
WORK EXPERIENCE REQUIREMENTS

Work Experience and Technical Skills
  • Degree with minimum 7 years of direct and broad-based compliance experience in the field of financial crime compliance.
  • Possesses strategic outlook to see and envision the future of financial crime compliance work in BOS and an understanding of sound AML/CFT policies, procedures and controls framework.
  • Strong technical knowledge and understanding of regulatory requirements on AML/CFT and sanctions in the context of private banking, with added edge in understanding similar requirements related to trusts structures and fund management.
  • Strong understanding and active awareness of regulatory expectations in Singapore, international developments, emerging risks/typologies and global trends in relation to financial crime compliance.

Personal Traits/Characteristics:
  • Passionate and finds purpose in pursuing a career in the field of financial crime compliance. Forward-looking and possesses a pioneering spirit to carve out new paths to navigate through.
  • Possesses change-agent drive, mentality and resilience to understand and follow-through on bringing change from current state towards the end state of financial crime compliance transformation.
  • Good team player and interpersonal skills to allow effective collaboration with multiple stakeholders in BOS/OCBC Group and able to work with BOS colleagues from different cultures and countries.
  • Possesses both high-level strategic outlook and ability to delve into details to drive implementation of key projects, timelines and initiatives.
  • Strong written and oral communication skills and ability to interact effectively with people at different levels.

EDUCATION REQUIREMENTS

  • Degree with minimum 7 years of direct and broad-based compliance experience in the field of financial crime compliance.
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