Job Description

• BOS Trustee Limited is the trust company owned by Bank of Singapore. Headquartered in Singapore and regulated by the MAS. The company provides trust administration and advisory services.
• The incumbent review and deal with new business within BOS Trustee Limited.
• The incumbent will also support the trust company in trust product matters for private banking clients who have set up a trust structure for succession planning purposes

• Review and approve all trust onboarding documentation. Check the new business documentation to ensure completeness and that it meets policy requirements.
• Review source of wealth background of clients, corroborate the declared net worth independently and assess supporting documentation (e.g. financial statements) in line with regulatory requirements (AML)
• Carry out name screening in accordance with bank standards. Conduct assessment on potential hits, follow compliance guidance and procedures.
• Complete the new business checklist, and assessment for trust relationship manager and team head sign-off
• Interact with front office/wealth advisory team to obtain documents
• Manage junior staff as necessary
• Maintaining relevant spreadsheets to track and record on the businesses onboarded
• Track due reviews and produce management reports as necessary
• Ensure client due diligence documents (Eg. passports, address proof, certificates of incumbency etc.) are up to date and accurately recorded (for the files as well as the system and databases)
• Ensure outstanding matters are attended to or, if not, escalated accordingly.
• Ensure prompt turnaround of all new business and setting up of structure
• Ensure that Compliance approval is obtained where required.
• Review the permanent file to ensure good order and completeness.
• Assist with other departmental projects and specific ad-hoc tasks as necessary
• Contribute to the implementation and design of the trust product e.g. consideration of regulatory, risk and business (financial/operational/tax) issues. Own the Trust product approval paper for types of trusts serviced by the trust company. Point person for trust onboarding/structuring matters.
• Act in accordance with core values (Lasting Value, Integrity, Forward-looking, Respect, Responsibility) of the organisation, and demonstrate the highest standards of business and personal conduct.

• Min Degree holder with 5 to 10 years in banking/financial industry, preferable with Trust knowledge, experience in KYC/AML/Compliance/Risk, knowledge of anti-money laundering procedures or trust experience will be an advantage
• Good communication and interpersonal skills
• Strong leadership skills, initiative and competency
• Team player
• Organised, detailed and with good risk awareness

Bank of Singapore