Business Compliance Private Banking

Job Description

1. Compliance Management Across Client Lifecycle

1. Oversee the end-to-end compliance management for HNW/UHNW clients, from onboarding to exit.
2. Onboarding: Review client identity, background, source of funds, and investment suitability.
3. Ongoing: Monitor client risk profiles and unusual transactions, issue alerts, and drive remediation actions.
4. Exit: Supervise asset transfers and archival of records in accordance with MAS regulatory requirements.

2. Complex Products & Services Compliance Review

1. Lead compliance due diligence for structured products, family trusts, offshore funds, and other complex solutions (including assessment of underlying assets, transaction structures, and disclosure requirements).
2. Continuously monitor operational risks (e.g., knock-out condition deviations, trustee qualifications) and recommend termination or optimization when necessary.

3. Transaction & Operational Compliance Oversight

1. Utilize AML monitoring systems to intercept and investigate unusual transactions and file Suspicious Transaction Reports (STRs) where appropriate.
2. Oversee client agreements, authorization documentation, and asset custody compliance to prevent legal loopholes or asset misappropriation risks.

4. Regulatory Compliance & Reporting

1. Monitor developments in MAS and other relevant regulatory policies and ensure timely implementation internally.
2. Lead the preparation and submission of periodic and ad-hoc regulatory reports (e.g., MAS AML/CFT Annual Return, FATCA/CRS reporting).
3. Support regulatory inspections and ensure timely completion of remediation actions.

5. Compliance Culture & Training

1. Promote a “compliance-by-design” approach integrated throughout the business process (from client marketing to product design).
2. Deliver compliance training tailored for HNW clients and internal teams (e.g., cross-border tax considerations, product risk disclosures).
3. Facilitate case reviews and regulatory updates to enhance emerging risk awareness.

6. Compliance Technology & Data Governance

1. Lead the implementation and optimization of RegTech tools (e.g., intelligent KYC systems, AML platforms) to enhance risk detection efficiency.
2. Ensure client data handling complies with Singapore’s PDPA and monitor third-party data processing for compliance.

Qualifications & Requirements

1. Experience: 5–8 years of compliance experience in private banking/wealth management; minimum 2 years of team management experience. Proven track record in end-to-end compliance oversight of at least two complex product types (e.g., family trusts, structured notes, offshore funds), with successful cases in handling regulatory inspections or major compliance events.

2. Regulatory Expertise: In-depth knowledge of MAS core regulations (including MAS Notice 626, TRM Guidelines, and Client Asset Protection requirements), FATCA/CRS reporting, and FATF standards. Prior MAS regulatory engagement experience is strongly preferred.

3. Product & Business Knowledge: Solid understanding of private banking products, their legal structures, and compliance risk points. Capable of independently conducting product compliance assessments and advising on transaction structures.

4. Technology & Data Skills: Proficient in AML monitoring systems, KYC platforms, and analytical tools (Excel, Power BI); prior experience in implementing RegTech solutions is an advantage.

5. Soft Skills: Fluent in English and able to communicate effectively in Mandarin; strategic mindset with strong cross-functional influence; skilled in balancing compliance rigor with business development.

6. Certifications: Preferred holders of ACAMS, CAMS, CIPP, CPA, or equivalent professional qualifications.