Assist the Head of Compliance in managing the Branch’s compliance program and carrying out compliance monitoring and reviews to ensure compliance with all applicable laws and regulations (including Banking Act, Securities & Futures Act and Financial Advisers Act.) as well as managing AML-related projects and ensure timely implementation.
- Provide advice to business partners (front and back offices) on compliance issues and potential impact of regulatory trends and developments.
- Supervise a small team with respect to AML functions, including:
- Review KYC/CDD documents for the onboarding of new customers and periodic review of existing customers’ accounts; transaction monitoring.
- Conduct reviews of transactions flagged as alerts in the SAM ACTIMIZE System within the stipulated timelines.
- Review of hits on customers and connected parties from monthly scanning via Head Office AML Scanning System.
- Lead and participate in Group AML monitoring enhancement projects and ensure timely implementation.
- Assist with the implementation of new regulatory requirements and develop amendments to the compliance program.
- Assist with developing and managing a robust compliance testing & reporting, identifying potential compliance and/or control risks for compliance checks and control enhancements.
- Provide support to business and/or supporting units in the development, implementation and regular review of policies and procedures for their operations with due regard to all applicable regulatory requirements.
- Enforce the General Compliance Manual of the Branch and provide necessary assistance to staff.
- Follow up on all compliance-related, including AML findings, and relevant rectification effort.
- Provide compliance training to employees and manage ad-hoc compliance related tasks.
- Assist in Anti-Money Laundering ("AML") compliance advisory support, including training to the business partners and handling AML issues (suspicious transactions investigation) for the Branch.
- Liaise with relevant parties to track status of internal and external audit findings as well as submit regular status updates to MAS and Head Office.
- Review and update policies and procedures maintained within Compliance Department (Compliance Manual, Compliance Operations Manual, AML Policy and Guidance Notes, Customer Data Protection Policy, etc.);
- Coordinate with relevant parties to complete the operational risk tasks within stipulated timelines (Monthly reporting of Bank wide and ORSA BU KRIs, Bi-annual review of Unit Specific KRIs, Annual ORSA project, etc.).
- Degree holder in Law, Accounting or related discipline
- Minimum 5 years general auditing or compliance experience in banks in Singapore and/or regulatory bodies (experience and knowledge in Wholesale banking products is preferable)
- Good knowledge in Singapore AML/CFT regulations and sanction laws; banking regulations, operations, products and services
- Good working knowledge/experience of SFA and FAA
- Professional Compliance qualifications are preferred, such as ICA, ACAMS, etc.