Compliance Manager - Client Review Team (Director) Compliance Manager - Client Review Team (Director) …

Bank of Singapore
in Singapore
Permanent, Full time
Last application, 27 Jan 22
Competitive
Bank of Singapore
in Singapore
Permanent, Full time
Last application, 27 Jan 22
Competitive
Compliance Manager - Client Review Team (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!

GENERAL DESCRIPTION
This position within the Client Review Team of the Compliance Department is responsible for the periodic review of existing accounts of the Bank. The successful candidate is expected to be knowledgeable in AML principles to be able to analyse situations to identify AML issues and red flags in respect of existing client accounts, and to be able to work well within a team and yet take initiative and ownership over his/her own area of work.
MAIN DUTIES
  • Assist the Team Head in leading and guiding the Client Review Team.
  • Manage and monitor the KYC periodic review due dates of all clients.
  • Review and approve KYC periodic reviews of existing relationships, including but not limited to higher risk relationships and financial intermediaries.
  • Analyze the sampling results of KYC periodic reviews of non-high risk relationships and consolidate review findings for onward reporting to Senior Management.
  • Review and approve the filing of a Suspicious Transaction Report to the CAD for cases identified during periodic review.
  • As the subject matter expert on AML, support businesses with timely advice on AML related matters, including the Bank's AML policy, standards and procedures, including but not limited to liaising with relationship managers / business compliance managers for issues and deficiencies identified during periodic review.
  • Provide advisory to Front Office on matters pertaining to KYC periodic review.
  • Engage in bank-wide projects that are related to business processes on KYC periodic review.
  • Enable business growth whilst balancing risk awareness and manage money laundering/terrorism financing risks. This requires keeping abreast of changes to regulatory requirements and emerging risks in this in an evolving regulatory landscape.
  • Escalate issues identified in the periodic review process and providing practical solutions to the businesses.
  • Assist with training for new joiners and Front Office on AML/CFT and periodic review requirements.
  • Mentor and guide junior Compliance Officers.
  • Update, enhance and operationalize periodic review processes and workflows to ensure consistency amongst team members.
  • Prepare monthly reports to Senior Management on periodic review statistics in Singapore.
  • Liaise with internal/ external auditors and MAS during onsite inspection; review and follow up on audit recommendations in relation to KYC periodic review.


Qualifications
WORK EXPERIENCE REQUIREMENTS
Suitable candidates will have experience gained within private banking, regulatory or compliance environment, a sound understanding of financial markets and the ability to maintain and enhance productive relationships with staff and regulators. In addition, you will also have:
  • At least 8 years of experience in AML/KYC and periodic review in a private banking environment in Singapore.
  • Knowledgeable and sensitive to the risks and suspicious activities typical of private banking clients.
  • Meticulous, conscientious with the ability to work independently, determine priorities and meet deadlines.
  • Experience in leading teams would be an added advantage.
  • Familiar with excel and other MS Office skills.
  • Willingness to take on a diverse product range and to leverage personal experience and skills into new areas.
  • Good communication and interpersonal skills.
  • Commercial astuteness.
  • Self-motivated personality with the ability to make things happen.
EDUCATION REQUIREMENTS
  • University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.
  • Professional certifications such as ACAMs or ICA would be an added advantage.
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