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 Groups global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!
GENERAL DESCRIPTION:
This position within the Client Review Team of the Financial Crime Compliance Department is responsible for the periodic review of existing accounts of the Bank. The successful candidate is expected to manage a team, stakeholders, be knowledgeable in AML and SOW principles, and to be able to analyse situations to identify gaps and risks in KYC information, transactions and documentation, and to be able to work well within a team and yet take initiative and ownership over his/her own area of work.
MAIN DUTIES
Perform assessment on periodic reviews or trigger event reviews of existing relationships including but not limited to higher risk relationships and financial intermediaries. This includes reviewing the adequacy of source of wealth (SOW) corroboration, performing high level transaction review, identifying incremental AML or reputational risk via refreshed name screening.
Conduct investigations on suspicious transactions/ activities surfaced during periodic review and prepare STR reports to the STRO.
Liaise with relationship managers / COLM officers for issues and deficiencies identified during periodic review.
Identify and assess risk issues relating to clients during periodic review and provide appropriate resolution and decision making.
Keep abreast of changes to regulatory requirements for AML/CFT and communicate changes internally with a view to ensuring established policies, procedures and processes are compliant with new requirements.
Update and operationalize periodic review processes and workflows to ensure consistency amongst team members.
Providing AML/CFT advice to businesses on matters pertaining to periodic review of clients.
Assist with training for new joiners and front office personnel on periodic review regulatory requirements in Singapore.
Liaise with internal and external auditors on AML/CFT queries related to Singapore.
Prepare weekly and monthly reports to Senior Management on periodic review statistics in Singapore.
Manage a team by providing guidance and coaching, managing escalation and issue resolution.
Perform pro-active stakeholder management
Qualifications
WORK EXPERIENCE REQUIREMENTS:
At least 10 years relevant experience in AML and SOW/KYC in a private banking environment.
Experience managing a team
Knowledgeable and sensitive to the risks involved in onboarding various types of private banking clients, including complex structures like trusts, foundations, and private investment companies.
Experience and familiarity in transaction review work would be required.
Experience in investigating suspicious transactions would be beneficial.
Familiar with excel and preparation of statistics for reporting.
Good communication, interpersonal skills and commercial astuteness.
Self-motivated personality with the ability to make things happen.
Ability to work independently, determine priorities and meet deadlines.EDUCATION REQUIREMENTS:
University degree or higher education.
Professional certifications such as ACAMS or ICA would be an added advantage.
