Job Description

Key Responsibilities

AML/CFT Advisory & Onboarding ECDD Reviews + Provide advisory to the first-line business units on AML/CFT-related areas such as customer onboarding, due diligence requirements, and risk mitigation measures.
+ Review high-risk and escalated cases including PEPs, adverse media, high premium and complex structures.
+ Assess source of wealth and source of funds for high-risk customers
Sanctions Management + Escalate and advise on cases with true hit on sanctions
+ Review cases with sanctions risks and recommend the handling to manage the risks
Transaction Monitoring + Review the transaction monitoring alerts investigated by the team and escalate suspicious activity.
+ Submit Suspicious Transaction Reports (STRs) to STRO when required.
Reporting and Compliance with AML/CFT Regulations + Support regulatory audits, MAS inspections and internal audits related to AML/CFT.
+ Assist in preparing periodic AML reports, risk assessments, and regulatory returns.
Policy, Controls and Governance + Contribute to the development and regular review of AML/CFT policy, procedures and risk assessment framework.
+ Participate in control testing, quality assurance reviews, and remediation activities.
+ Identify process improvements to enhance effectiveness and reduce false positives.
+ Review controls and procedures to ensure compliance with the applicable requirements.
Training and Stakeholder Engagement + Deliver AML/CFT training and awareness sessions to staff and representatives.
+ Collaborate with first-line business units to ensure consistent understanding and application of AML/CFT controls.
Participate in AML-related projects and/or undertake tasks assigned from time to time.

Requirements

Education & Qualifications + BacheloraEUR(TM)s degree
+ Professional certification such as CAMS, ICA, or IBF in AML/CFT is an advantage.
Experience + 4 - 6 years of AML/CFT or compliance experience, preferably in insurance, banking, or financial advisor space.
+ Strong knowledge of MAS AML/CFT Notice and Guidelines, Financial Services and Markets Regulations and Targeted Financial Sanctions, and insurance regulations.
+ Experience with sanctions management and AML/CFT reviews of universal life insurance policies and unit trusts is an advantage.
Skills & Competencies + Demonstrates basic leadership abilities and takes ownership of assigned responsibilities.
+ Ability to guide and support junior team members with clear instructions.
+ Builds positive working relationships and collaborates effectively with colleagues.
+ Strong analytical and investigative skills with attention to detail.
+ Ability to interpret regulations and apply them pragmatically to enable the business.
+ Excellent communication (written and verbal) and stakeholder management skills.
+ Approaches problems logically and proposes practical, workable solutions.
+ Embraces change and adapts quickly to new processes, systems or requirements.
+ Familiarity with AML systems.
+ Ability to manage multiple priorities in a fast-paced environment while delivering high-quality outputs.