Officer, Compliance

  • Competitive
  • Singapore Singapore Singapore SG
  • Temporary, Full time
  • First Abu Dhabi Bank P.J.S.C. Singapore branch
  • 23 Apr 18 2018-04-23

The Singapore Branch is a Wholesale Banking Branch, offering a full suite of world class financial products and services. The Singapore Branch also serves as the Bank’s regional office in Asia Pacific, providing financial services to both companies as well as financial institutions, and also seeks to leverage on the trade corridor spanning from Asia to the Middle East and Africa.

Job Purpose:

The Compliance Associate will perform as a key 2nd Line control on all BAUs matters, performing compliance advisory, compliance testing and sample checks (both AML and regulatory compliance) to stress test and improve the branch governance , risk and compliance framework. The scope of work will include area of AML and Regulatory compliance.

In performing these duties, the Compliance Associate will be responsible for implementing controls, governance processes, enhancing and updating of policies and procedures, review of exception reports, performance of detailed transaction monitoring and reviews and approval for Know Your Customer (“KYC”).

Key Accountabilities:

To assist the Head of Compliance Singapore in the following:

  • Act as the Anti-Money Laundering, Know Your Customer subject matter specialist in the Branch.
  • Implement, maintain and review the internal Compliance Framework, AML and CFT Framework - consisting of policies, standard operating procedures and best work practices (tools), and self-assurance audits, etc, covering both regulated and non-regulated business activities and the bank’s business operations, and monitoring oversight to ensure their robustness and effective implementation and compliance by the respective Business Units and Department.
  • Provide advisory support to 1st line functions on Know Your Customer and Customer Due Diligence (“KYC and CDD”), and review and approve KYC and CDD.
  • Perform and review periodic monitoring of the customers’ transactions, name screening - highlighting any positive names hits, sanctioned countries, entities and persons, Politically Exposed Persons and Relatives and Close Associates (”PEPs and RCAs”), and perform name screening, risk-based classification and enhanced due diligence of customers and counterparties for AML and CFT purposes.
  • Perform systematic reviews of transactional alert scenarios, thresholds and parameters so as to ensure that the transactional surveillance tools applied by Singapore branch are effective in detecting potentially suspicious transactions.
  • Identify and investigate potentially suspicious transactions. Compile Suspicious Transaction Reports (“STRs”) for the Head of Compliance and update the internal registers which track all transactions identified as being potentially suspicious, including those that were not lodged to regulatory authorities and maintain adequate documentation records for all such cases.
  • Actively monitor updates to OFAC, UN, EU and MAS sanctions and embed the changes into the Singapore branch Sanctions Framework.
  • To provide assistance to the various Business Units on the review and checks on standard legal documents and agreements, and where necessary, to seek and liaise with lawyers or H.O. Legal on the legal documents works.

Qualifications & Experience:

Minimum Qualification

  • A recognized diploma/degree in Business, Banking, Accounting, Finance or equivalent

Minimum Experience

  • Approx. 3 to 5 years of experience in AML, sanctions compliance and ABC.
  • In-depth knowledge of MAS Notice 626 and Guidelines to MAS Notice 626.
  • Familiar with internal controls  and banking operations, particularly anti-money laundering 
  • Good writing and communication skills
  • Self-starter, resourceful, independent, active team player and able to handle work pressures
  • Ability to multi-task, prioritize and deliver consistent results