Job Description

Client Due Diligence Specialist, Front Office Periodic Review (Manager/AVP) - ( 230002BG )
Description

This position within Global Front Line Risk Control is primarily responsible for the banks\xe2\x80\x99 continued AML/CFT monitoring and reviews. The successful candidate is expected to maintain high and consistent standards in accordance to the AML/CFT Procedures within the bank. In addition, the successful candidate may also be assigned other compliance/risk management relevant tasks, assignments, or projects.

• Conduct periodic reviews of KYC and CDD information of existing end clients and financial intermediaries.
• Perform independent and thorough review, including plausibility checks as well as corroboration of existing clients\xe2\x80\x99 source of wealth and source of funds and address gaps where any are identified.
• Advise front office and other colleagues within the team on client ongoing monitoring and review matters including deficiencies in KYC information and corroboration documents.
• Collaborate with key stakeholders involved in the process, viz, Relationship Managers, Team Heads, Market heads, Compliance and other colleagues within the bank to ensure source of wealth gaps/red flags uncovered during periodic reviews are properly addressed and closed out.
• Conduct reviews of existing clients to ensure their biodata remains updated
• Handle the alerts arising from the periodic screening of the bank\xe2\x80\x99s customer database
• Collaborate with key stakeholders and advise front office to address suspicious activity alerts/investigations.
• Assist to response to queries, clarifications resulting from internal, external, statutory or regulatory audit
• Train team members as well as colleagues from front office on matters pertaining to KYC AML.
• Identify gaps and implement controls including system and process enhancement that are fit for purpose and to address current and future requirements in a rapidly changing regulatory environment and an evolving AML landscape, in line with industry best practices.

General

• Support Global Front Line Risk and Control on the matters that are assigned from time to time in line with overall priorities of the bank.
• Collaborate with other colleagues within the bank to drive and assists remediation and other projects as and when required.
• Prepare Management information reports based on agreed requirements.
• Organize meetings with Front Office and focus group training to align front office practices with current procedures.

Qualifications

• Minimum 4 years of experience in AML/KYC under the client review function in a private banking environment.
• Knowledgeable and sensitive to the risks (PEP, Sanctions, reputational risks) and suspicious activities typical of private banking clients.
• Knowledge of regulations including MAS, HKMA and other intergovernmental / non-governmental organization such as FATF / Wolfsberg.
• University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.
• Preferred skills
  • Strong understanding of AML/CFT framework and the regulatory environment and its applicability to Private Banking clients in the areas of onboarding, on-going client reviews and transaction monitoring.
  • Familiar with MS Excel, MS Word, MS PowerPoint and other office automation tools.

Primary Location : Singapore
Job : Client Review
Organization : Bank of Singapore Division
Schedule : Permanent
: Full-time
Job Posting : 15-Nov-2023, 2:30:17 AM