Source of Wealth Specialist (Private Banking) - Greater China Market

Source of Wealth Specialist (Private Banking) - Greater China Market

Location: Singapore

Type: Full-time

Job Summary

This position is part of the Anti-Money Laundering Risk Management (AML Risk) function, within the Account Management Team (AMT) under Private Wealth Management (PWM).

Responsibilities

1. Review existing account profiles to identify gaps in SOW information and corroboration
2. Analyse collected information and perform reasonableness and plausibility checks to build comprehensive SOW write-ups, enhancing existing write-ups or drafting from scratch
3. Work with the Sales team to enhance account profiles and SOW corroboration, providing guidance and desktop research for benchmark analysis or profile updates
4. Identify high AML risk factors and red flags, and engage with Sales and Compliance to resolve issues as needed
5. Prepare SOW/AML risk assessment summaries, and present material findings or risk concerns to AML Risk Supervisors for further action
6. Ensure SOW/SOF data, approval records and supporting documentation are properly retained
7. Draft SOW assessments and review peer submissions, depending on team caseloads

Eligibility Requirements

1. 5+ years of relevant experience in source of wealth reviews in private banking or for high-net-worth clients, at top tier banks, financial institutions or risk advisory firms
2. Fluent in spoken and written Mandarin and English. Cantonese is an advantage.
3. Proven ability to write detailed SOW narratives from scratch, consolidating Chinese and English information into a precise English summary
4. Strong research skills, with the judgement to rely on primary sources
5. Strong knowledge of AML/SOW review for various entity types (personal holding companies, trusts, SPVs, limited partnerships, funds, foundations)
6. Strong understanding of AML/CFT regulations, including MAS and HKMA requirements
7. Confident and articulate, able to explain requirements clearly to Sales stakeholders and hold a position when challenged