Who we are
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise, and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families to the most-successful hedge funds and corporate brands.
What we do
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater. What you will do
Financial Crime Compliance forms part of Global Compliance and Corporate Risk function and is entrusted with ensuring identification, risk assessment and monitoring of all our regulatory obligations in the locations we operate. In this newly created role, the Financial Crime Compliance Lead will be the designated Senior Manager for Financial Crime under Singapore's Individual Accountability Regime and be primarily responsible for the day-to-day management and oversight of Anti-Money Laundering and Counter Terrorist Financing for Northern Trust's Singapore Branch. This role will work closely with business executives and partners to ensure adherence to applicable local requirements regarding anti-money laundering, sanctions, politically exposed persons and anti-bribery and corruption.
This role will report to the APAC Regional Head of Anti-Financial Crime and will work closely with other Northern Trust MRLOs, shared services teams in Manila, EMEA and/or North America and the Singapore Compliance function and will receive support from an additional headcount in discharging all duties related to this role.
As part of the Asia Pacific compliance team, this role is in the second line of defence and will assist in the implementation of the Northern Trust Compliance model. The Compliance function is responsible for ongoing oversight and reporting regarding regulatory obligations to senior compliance and business management.
1. Personally accountable for the Northern Trust Singapore Branch Financial Crime Compliance Program including but not limited to implementation of the Northern Trust AML and compliance framework as well as the ongoing review of the Program to identify potential gaps, oversight of key controls, where necessary driving remediation activities and liaising with key regulatory contacts
2. Advise and directly partner with Senior Management in the development of programs, policies, operating and compliance procedures, and other controls to manage financial crime risk through the full product/service lifecycle
3. Identify, document and drive Singapore business acceptance of financial crime risks with Senior Branch Management
4. Responsible for establishing and managing the policies, systems, and processes to counter the risks of the bank's involvement in money laundering, terrorism financing, weapons proliferation and sanctions evasion, bribery, and corruption, as well as for filing Suspicious Transactions Reports (STRs)
5. As a key contributor and member of the Singapore Executive Management and Singapore Risk Committees, will provide leadership across the Branch
6. Embed and maintain the Northern Trust framework for identifying, and documenting all local financial crime compliance obligations through rules mapping, risk assessments, monitoring and regulatory change management processes
7. Conduct gap assessments of new laws, regulations or MAS guidance (e.g. thematic reviews) against existing controls in a timely manner and develop additional controls as required to comply with changes in local obligations
8. Implement and ensure tracking of financial crime regulatory changes in Singapore
9. Conduct Financial Crime Compliance Enterprise Wide Risk Assessments annually or as otherwise required for the Singapore Branch
10. Review and agree on suspicious transaction monitoring conducted by a centralized team
11. Develop and conduct other financial crime compliance monitoring activities for the Singapore business
12. Provide training on new and existing developments related to coverage area
13. Fulfil AML reporting requirements, including for internal committees
14. Identify areas for control enhancement in either the first or second line of defense. Define and implementing additional Financial Crime Compliance controls to minimise TNTC's risk profile.
15. Work in partnership with the wider Compliance, Financial Crime Compliance, Risk and Controls teams
16. Lead projects and increase understanding of project management methodologies Your Knowledge/Skills
• Fluent in English and ability to communicate in a clear, concise and effective manner (verbal and written)
• In depth knowledge of local financial crime compliance laws and regulations applicable to the Singapore Branch. Additional knowledge of AML regulations applicable to virtual asset providers preferred
• Experience in dealing with Senior Management and ability to influence the business to implement change and minimise the risk profile of the Singapore business
• Experiencing in regulator engagements and directly managing regulatory on-site visits
• Experience conducting timely gap assessments of new laws and regulations
• Experience in defining a risk based approach to AML and implementing Singapore's anti-money laundering and other anti-financial crime laws and regulations.
• Preference for strong knowledge of Custody, Payments, Asset Servicing, FX, Fund Administration, and /or Securities Lending businesses as well as corporate governance such as outsourcing, data privacy and bank secrecy requirements.
• Knowledge of cross border business and impact on Financial Crime compliance obligations (particularly for clients contracting with other Northern Trust legal entities and serviced / booked in Singapore)
• Ability to collaborate and maintain positive partnerships with business partners while at the same time remaining objective, with an ability to make an independent assessment of the risk environment and business challenges, and work toward practical risk mitigation actions
• Proven track record in making risk informed judgements, based on sometimes limited and/or ambiguous information, and leading facilitation of issue resolution
• ACAMS certification preferred
• Financial crime compliance experience in an international bank preferred
• Strong organisational skills, a collaborative approach to work, with strong interpersonal skills
• Ability to communicate with stakeholders to ensure timely and efficient management of key deliverables
• Ability to take initiative and work unsupervised in a proactive manner
• 10+ years of financial crime compliance experience
Northern Trust is an equal opportunity employer. We aim for excellence in our efforts to recruit, develop and deploy the highest caliber workforce. Our commitment and success to a diverse workforce is evident in employee satisfaction and industry acknowledgment.