Job Description
Assist the Head of Compliance of Singapore Branch in providing regulatory compliance related advisory, managing compliance program and carrying out compliance monitoring and reviews to ensure Bank’s compliance with applicable laws and regulations, including Banking Act, Securities & Futures Act (“SFA”), Financial Advisers Act (“FAA”) and relevant MAS rules and regulations.
Job Responsibilities
Review the current compliance controls of the Bank, and identify proper actions for improvement if necessary.
Perform gap analysis on relevant new and updated regulations and implement new processes and controls to address any regulatory gaps.
Review gap analysis on relevant new and updated regulations performed by BU & SU, as an independent party.
Review and update policies and procedures maintained by Compliance Department.
Review new products assessments proposed from Private Banking and Wholesale Banking business units.
Assist in the development and maintenance of regulatory compliance testing & assurance framework, and conduct testing according to such framework to identify control or executional weaknesses.
Perform monitoring and testing on Private Banking key processes, such as investment sales process, customer suitability assessment, and trade execution and dealing processes, to identify any mis-selling, mis-conduct, and deviation from best execution policies.
· Undertake investigations into any complaints reported or made by both internal and external customers.
· Prepare regular Compliance reporting to local Senior Management and Head Office Management and key stakeholders.
· Provide timely circulation of new and updated regulations to the relevant BU & SU, and advise on the regulatory expectations and recommended actions.
· Address inspection queries and follow up on compliance related audit and assurance findings from the internal and external auditors and regulators.
· Provide support to business and/or supporting units in the development, implementation and regular review of policies and procedures for their operations with regard to applicable regulatory requirements on fair dealing, outsourcing, business continuity management, etc.
· Provide regulatory compliance related training to Branch employees, and guide and supervise junior Compliance staff on their BAU operations.
· Assist with Operational Risk related BAU tasks within Compliance Department, such as High Risk NOVA assessment, outsourcing risk assessment, monthly reporting of KRIs, bi-annual review of Unit Specific KRIs.
· Work and coordinate with external legal counsel for legal advisory and assignments arising from BU/SU or Compliance Department.
· To perform assignments from time to time as required by Head of Department & Branch Manager.
· Support frontline and adhere to anti-money laundering / counter terrorist financing requirement and sanction risks controls in accordance with regulatory standards and bank's policies.
Job Requirements
· Degree holder in accounting, business, finance, law or related discipline.
· At least 8 years of relevant experience in the regulatory, compliance or advisory roles in banks (Private Banking is a plus).
· Experience in PB Investment sales and advisory monitoring framework.
· Experience in providing advisory on general banking regulatory matters.
· Experience in maintaining banking regulatory compliance program and framework.
· Experience in KYC (including name screening) and transaction monitoring review for Private Banking clients is a plus.
· A team player with strong communication and interpersonal skills.
· Strong analytical and problem-solving skills; and meticulous.
· Self-motivated and resourceful; able to multi task and focus on delivering results.
· Professional Compliance qualifications such as ICA & ACAMS are preferred.
