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!
Bank of Singapore opens doors to new opportunities.
Start your career with Bank of Singapore as Head of Sanctions !
We are hiring Head of Sanctions who leads a team in charge of the following : (i) review of sanctions policies, procedures and guidance/handling parameters to ensure the bank is in compliance with all relevant sanctions requirements and applicable sanctions regulations; (ii) advisory matters on client cases and transactions with sanctions risk nexus; (iii) training and other strategic initiatives to uplift effectiveness of sanctions-related controls; (iv) governance & oversight of the bank's subsidiaries and branches in compliance with all relevant sanctions requirements (v) Board and Senior Management reporting on sanctions risks and controls effectiveness metrics and significant matters.
The candidate should possess strong leadership and stakeholder management competencies and has a good track record in achieving effective outcomes on sanctions matters (preferably in the private banking context). This role is based in Singapore Head Office, with coverage of six other locations where the bank has presence in.
Responsibilities
Strengthen sanctions policies and procedures and implement effective controls measures together with relevant internal stakeholders to comply with sanctions-related requirements (including but not limited to UNSCR, US OFAC, EU, UK, MAS) relevant to the business and operating environment.
Lead the regular review of sanctions policies and procedures, taking into consideration geopolitical events, sanctions evasion typologies observed and emerging risks (e.g. sanctions evasion through virtual assets).
Actively monitor sanctions developments and requirements; and keep abreast of regulatory expectations and industry best practices.
Lead the team in performing impact and gap analysis against regulatory and parent bank's requirements in a timely manner before proposing sound recommendations and action plans to address the self-identified gaps.
Advise business units and FCC teams on sanctions development and operationalization of policies, procedures and controls, including more complex or higher risk client cases with sanctions risk nexus.
Drive and manage key projects/initiatives to uplift sanctions controls in partnership with all relevant stakeholders across both first and second lines of defence.
Conduct effective training on sanctions policies and procedures and case studies/typologies.
Review presentation materials/documents and responses to requests for information from regulators and/or other external stakeholders (e.g. custodians).
Report sanctions-related risks events/exposures and controls effectiveness indicators/metrics to Board and Senior Management in a timely manner.
Manage and build a team of highly motivated, competent and engaged sanctions specialists.
Lead and drive any other initiatives, including data analytics and technology-driven initiatives, which contribute to an effective sanctions programme for whole of Group, through strong collaboration with key stakeholders.
Qualifications
Degree with minimum 10 years of financial crime compliance experience in the specialized field of sanctions.
Possesses strategic outlook to envision the future of financial crime compliance and a sound understanding of AML/CFT and sanctions policies, procedures and controls framework.
Strong understanding of sanctions requirements, emerging risks/typologies and global trends/developments in relation to sanctions.
Ability to enable business growth whilst managing sanctions risks and ensuring the bank continues to comply with all sanctions obligations.
Personal Traits/Characteristics
Passionate and finds purpose in pursuing a career in the field of sanctions and financial crime compliance. Forward-looking and possesses a pioneering spirit to carve out new paths to navigate through.
Possesses change-agent drive, mentality and resilience to understand and follow-through on bringing change from current state towards achieving a best-in-class financial crime compliance sanctions function.
Good team player and interpersonal skills to allow effective collaboration with multiple stakeholders in BOS and OCBC Group and able to work with colleagues from different culture and background/seniority.
Possesses both high-level strategic outlook and ability to delve into details to drive implementation of key projects, timelines and initiatives.
Strong written and oral communication skills.
