Periodic review Compliance Officer (12 mths contract + 1 mth completion bonus, renewable base on BAU

GENERAL DESCRIPTION

The CRO division develops and oversees the global framework for risk identification, control, reporting, and management within the risk tolerance for the various business activities for the bank, aiming at sustainable growth of the franchise. As a member of the CRO division, the incumbent is expected to abide by relevant principles and expectations as specified in the CRO Business Organisation Manual.

Compliance is part of the Risk, Legal and Compliance Division of the bank and supports the Senior Management in ensuring compliance with external and internal regulations to actively manage operational, regulatory and reputational risks.

The Periodic Review Compliance Officer (“PR CO”) will be responsible for Compliance Singapore’s review and approval of all High and Highest existing client relationships, portfolios and accounts booked in the bank.

We are hiring for a top tier Private Bank.

Work location: CBD

KEY FEATURES OF THE POSITION

• Support the CRO and Senior Management of BJBS Branch in ensuring compliance with external and internal regulations in the areas mentioned above and actively manage operational, regulatory and reputational risks.

• Part of the Periodic Review team of Compliance Officers supporting the bank Branch.

• Build strong relationships with key stakeholders such as the bank Front Office, Client Documentation Services (CDS), KYC/AML Onboarding, AML Investigations and Risk Management teams.

• Support Head of AML/KYC Singapore and the Head of Periodic Review in the management of Compliance’s review of existing client relationships, portfolios and accounts booked in BJBS, as well as the review of new/incremental KYC/CDD risk identified during the duration of the client’s relationship with the bank.

• Collaborate and guide local and overseas Relationship Managers (i.e. Hong Kong, Thailand and Dubai) in their periodic review submissions, including KYC profile changes, account structure changes and newly identified adverse news and risk elements

• Assist and support ad-hoc KYC/CDD related matters and enquiries from regulators, auditors (internal and external) and Head Office

• Review client’s profile for the relevant periodic review period to ensure conformity to internal requirements and latest regulatory requirements on AML/CFT/CDD standards; Ensuring completeness, consistency and accuracy of KYC information, adequacy of source of wealth (“SOW”) narrative and reasonableness of plausibility assessment

• Perform client risk assessments and due diligence analysis with focus on High/Highest risk profiles

• Assess and address incremental AML/KYC risk noted during periodic review; escalations on incremental risks noted on client profile

• Review and assess name screenings to facilitate periodic review (Google, World check, Factiva).

• Perform transaction review for all transactions occurring during the relevant periodic review period; Ensuring the transactional activities are aligned with client’s risk profile; Identify and investigate any suspicious transactions.

• Participate in projects, process improvement and discussions relating to KYC/CDD

• Demonstration of appropriate values and behaviours including but not limited to standards on honesty and integrity, due care and diligence, fair dealing (treating customers fairly), management of conflicts of interest, competence and continuous development, adequate risk management, and compliance with applicable laws and regulations

• Ensure KYC/CDD issues are properly identified, assessed and documented.

• Timely escalations where KYC/CDD measures cannot be completed, especially where suspicious activities /conduct is identified.

SKILLS REQUIREMENTS OF THE POSITION

• Ability to manage internal and external stakeholders

• Setting the right priorities and ability to work on multiple assignments at the same time

• A strong sense of responsibility and impeccable integrity

• Strong analytical skills; detailed-oriented

• Excellent command of spoken and written English, proficiency in other Asian language(s) will be an advantage

• At least 3-5 years’ experience in either KYC On-Boarding/Periodic review and/or AML role in Private Banking/Wealth Management

• A good degree and understanding of the Private Banking and Wealth Management industry

• Strong knowledge of the MAS 626 Notice & Guidelines

• Experience in managing AML/CFT-related regulatory inspections, external and/or internal audits and strategic projects

• PC proficient: MS Word, Excel, PowerPoint

REPORTING LINE

• To Head of Periodic Review

If you are interested, please your updated CV to [email protected] or apply via the link.

EA License: R24121283

Only shortlisted candidates will be notified.