Compliance Specialist/ Manager - AML Quality Assurance (Senior Associate/ Associate Director) Compliance Specialist/ Manager - AML Quality  …

Bank of Singapore
in Singapore
Permanent, Full time
Last application, 15 Oct 21
Bank of Singapore
in Singapore
Permanent, Full time
Last application, 15 Oct 21
Compliance Specialist/ Manager - AML Quality Assurance (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 reports to Team Head of Quality Assurance. The incumbent will be expected to conduct quality assurance reviews of key AML functions to ensure that they are operating in in accordance with regulatory expectations and the Bank's AML/CFT Policies & Procedures.

The incumbent will work closely with the Bank's AML teams in Singapore and Hong Kong to identify material deficiencies and their root causes, propose further risk mitigation measures, and provide adequate guidance to compliance staff. The incumbent will also contribute to the preparation of management reports to address QA findings or trends and develop training materials for BOS' AML department.

  • Perform quality assurance reviews of key AML functions. This includes the review of completed transactions monitoring and name screening alerts closures across BOS entities to ensure that they are completed in adherence to regulatory expectations and the BOS's AML/CFT Policies & Procedures. The scope of QA reviews may also be expanded to cover other key controls including KYC / ECDD at onboarding and periodic review, as well as investigations.
  • Ensure the robustness of BOS' AML/CFT function as a QA subject matter expert, by identifying material gaps or deficiencies in current AML/CFT procedures and controls, and articulating recommendations that achieves an appropriate balance between ML/TF risk-mitigation and business continuity.
  • Contribute to the development of Quality Assurance Policies & Procedures to facilitate the review of key AML/CFT controls. This ensures that the right QA methodology is applied towards assessing ML/TL risks unique to the private banking context.
  • Contribute to the preparation of management reports and training materials for compliance staff.
  • Participate in AML/CFT-focused reviews or ad-hoc projects when required.


Work Experience and Technical Skills
  • Degree with 6-8 years of relevant work experience, preferably in the AML/CFT compliance function of a private bank.
  • Strong technical knowledge and understanding of regulatory requirements on AML/CFT and sanctions in Singapore and locations where BOS has a presence in.
  • Deep analytical skills and strong risk acumen in identifying material ML/TF gaps or red flags.
  • Ability to exercise sound judgement and put-up well-articulated risk-mitigation recommendations.
  • Prior experience in AML quality assurance, transaction monitoring or customer onboarding / periodic review is preferred.

Personal Traits/Characteristics:
  • Passionate and finds purpose in pursuing a career in the field of AML/CFT compliance.
  • Forward-looking, detail-oriented and possesses a "can-do" attitude to overcome challenges.
  • Strong written and interpersonal skills to allow for effective collaboration with different stakeholders, and the ability to interact effectively with people at different levels.
  • Ability to deliver quality work under occasional tight timelines and pressure.

  • University degree or higher education in a relevant field
  • Professional certifications such as ACAMS preferred, but not a must.
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