Singapore Money Laundering Reporting Officer Singapore Money Laundering Reporting Officer …

Wells Fargo
in Singapore
Permanent, Full time
Last application, 17 Jun 21
Competitive
Wells Fargo
in Singapore
Permanent, Full time
Last application, 17 Jun 21
Competitive
Posted by:
Joveo Posting • Recruiter
Posted by:
Joveo Posting
Recruiter
Ensuring compliance with Wells Fargo & Company's Global and local FCRM-related Policies and Standards, including local and US FCRM-related regulatory requirements. Serving as the primary contact for lines of business and designated legal entities operating in Singapore for financial crime matters. Identifying, assessing and monitoring money laundering, terrorist financing and other applicable financial crimes risks to ensure the program is comprehensive and proportionate to the nature, scale and complexity of Wells Fargo's business operating in Singapore. Communicating and escalating financial crimes-related issues to the Regional AML Advisory Manager and the Regional Financial Crimes Manager.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 20 c.


Market Job Description

  • Ensuring compliance with Wells Fargo & Company's Global and local FCRM-related Policies and Standards, including local and US FCRM-related regulatory requirements.
  • Serving as the primary contact for lines of business and designated legal entities operating in Singapore for financial crime matters.
  • Identifying, assessing and monitoring money laundering, terrorist financing and other applicable financial crimes risks to ensure the program is comprehensive and proportionate to the nature, scale and complexity of Wells Fargo's business operating in Singapore.
  • Communicating and escalating financial crimes-related issues to the Regional AML Advisory Manager and the Regional Financial Crimes Manager.
  • Establishing and maintaining strong working relationships with APAC business heads, Compliance partners, legal, audit, and other FCRM Managers in order to effectively manage financial crimes risk.
  • Maintaining an understanding of current and proposed financial crimes laws, regulations and regulatory guidance that apply to the lines of business and legal entities operating in Singapore.
  • Maintaining an awareness of emerging financial crimes trends/risk across the enterprise and region and develop strategies to apply lessons learned that proactively address this risk.
  • Receiving, reviewing, monitoring, and submitting Suspicious Transaction Reports (STRs) to the local regulatory Financial Intelligence Unit and liaise with regulatory bodies as applicable.
  • Preparing planning and reporting documents regarding the Singapore AML/CFT Program for senior management.
  • Identifying and assessing training needs, and establishing, developing, delivering and maintaining the local AML training program as appropriate. 
  • Accomplishing management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and development team members, identifying and managing risks, and completing daily management tasks.
  • Reporting on the effectiveness of each regulated entity's systems and controls used to combat money laundering to regional and local senior management, on a periodic basis or as circumstances dictate.
  • APAC
  • Performing financial crimes advisory duties beyond Singapore at the direction of the Regional AML Advisory Manager.
  • Assisting with coordination among APAC MLROs.
  • Assisting with regional projects and initiatives, particularly in relation to emerging risks and control enhancements.


While role includes some level of regional coverage, role has no routine travel requirement (Singapore based).

 

Market Skills and Certifications

  • 8+ years of AML/CFT related experience in a financial institution or combined with experience in a related government/regulatory body.
  • BS/BA degree or higher.
  • Knowledge and strong understanding of Singapore AML/CFT regime and international/industry practices, to include BSA, USA PATRIOT Act, OFAC, and global sanctions.
  • Experience in managing an AML/CFT program, including the recruitment and mentoring of personnel involved in the program to include the provision of business oversight and credible challenge.
  • Ability to develop and manage business relationships with various stakeholders, including front office and audit.
  • Excellent verbal, written, and interpersonal communication skills.
  • Experience in managing the preparation of policy and procedure documents, investigative reports, and Suspicious Transaction Reports.
  • Excellent analytical skills, lateral thinking and problem solving ability with high attention to detail and accuracy. 
  • Ability to independently prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment. 
  • Experience in making and owning risk-based decisions.
  • Experience with development of AML programs or testing/audit of such programs considered a plus.
  • Knowledge of transaction monitoring systems utilized in AML/Financial Crimes investigative programs considered a plus.
  • Experience in process management, track record in an 'unstructured' space and adaptability to rapid change considered a plus.
  • Certified Anti Money Laundering Specialist (CAMS) and/or Certified Fraud Examiner (CFE) or other similar designation considered a plus.

 

Leadership Expectations at Wells Fargo

As a Team Member manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:

  • Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
  • Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.

 

We Value Diversity

At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

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