VP/AVP, KYC Specialist, Private Banking, Consumer Banking Group

  • Competitive
  • Singapore
  • Permanent, Full time
  • DBS Bank Limited
  • 21 Apr 19

VP/AVP, KYC Specialist, Private Banking, Consumer Banking Group

Business Function

DBS' Private Banking offers a one-stop, full-service touch-point for total banking requirements and provides the highest level of personalised banking. We have a team of dedicated, experienced investment advisors who identify opportunities in the various asset classes and employ the best strategies and product vehicles to cater to each client's needs. Coupled with partnerships within the DBS network and with global institutions, we strive to build long-term relationships with our Private Banking clients in Asia by providing them with high quality, timely and extensive wealth management, investment and financial solutions.

The KYC Specialist provides expert advice to Front Office in all KYC matters, and partner Front Office in the KYC review process, from the beginning of client onboarding. In addition, he/she works closely with Group Compliance on specific AML/KYC policy and procedures as well as client risk profiling related matters. The KYC team reports to the COO Office and functions as the Compliance Expert for the Front Office.

Responsibilities

  • Advise Front Office on the onboarding requirement in accordance to Bank's AML/KYC standards and regulatory requirement, and partner with Front Office to meet the requirement
  • Review and corroborate KYC information submitted by RM, perform an independent review and risk rate customer in accordance to regulatory requirement as well as Group AML/CFT policy and procedures
  • Follow up with Front Office (RM & ARM) and other stakeholders on KYC related matters and for escalated/prioritised cases
  • Assess and ensure the relevance and completeness of KYC information supplied by Front Office and perform appropriate due diligence checks and information searches to comply with bank standards of client onboarding
  • Highlight deficiencies, suspicious AML or other non-compliance issues to relevant parties and management
  • Prepare reports for management reporting to facilitate relevant reviews and strengthen the control procedures and process
  • Train the Front Office on client documentation and KYC related subjects
  • Coach the junior team members and provide guidance in exception handling
  • Involve in projects for new processes or industry initiatives, and internal / external audits
  • Keep abreast of global AML/CFT developments that impact due diligence on wealth clients and ensure compliance with all other controls and processes

Requirements
  • Bachelor Degree with at least 6 years of working experience in KYC/AML areas, risk or controls functions, preferably in Private Banking
  • Familiar with regulatory requirements pertaining to KYC / AML, e.g. MAS 626
  • Certifications in AML such as Certified Anti Money Laundering Specialist (CAMS) or International Association Diploma in Anti Money Laundering would be an advantage
  • Ability to be client centric while balancing business needs and controls
  • Excellent interpersonal skills to manage relationships with Front Office stakeholders
  • An efficient solutions provider with strong analytical and creative problem solving skills