Manager – Deposits & Remittances
Job descriptions
Responsibilities
Customer Relationship Manager
- Better Customer Service to ensure complete customer satisfaction
Branch Operation & administration
- Smooth functioning of daily routine.
- Proper Leave Management of staff.
Business Development
- To achieve corporate business goals in conformity with high ethical standards.
Onboarding of a client as well as ongoing Customer Due Diligence of existing clients.
- Ensure no new Non Resident customer is on boarded.
- Proper CDD of prospective customer in line with MAS 626.
- No account should be open for customers who insist on anonymity or use fictitious name.
- Name Screening of the prospective customer against latest sanctions list such as UN/EU/OFAC/MAS/existing STR database etc.
- Proper Risk Classification of Customer.
- Establish policy and procedure for ongoing review of existing customers.
- Authorisation of account opening and closing.
Updation of Policy & Procedures
- Timely updation of department policy and procedure in line with latest MAS 26 guidelines and implementation.
Review of Service charges
- Annual review of service charge.
Handling of Dormant, Blocked Accounts, Suspense A/cs, Hand Delivery of Mails
- Ensure timely marking of accounts as Dormant.
- No account should be made operative or unblocked without approval of senior management.
- Close Monitoring of not-collected mails beyond specific time limit in Hand Delivery of Mails accounts.
- Monitoring of department related suspense accounts.
CTS & E-GIRO
- Timely submission of Clearing and rejection.
- Active participation in the CTS/E-Giro Industry testing with BCS
Cash Management
- Dual control over Cash
- Authorised access to Cash Department.
- Maintenance of Bait Money.
- Security of cash.
- Timely Lodgment/withdrawal of cash with MAS.
- Timely Availability of festival notes to customers.
- Keep cash within approved retention limit.
- Insurance coverage of cash
- Bank that has possession or comes into possession of any currency note of a denomination of 10,000 Singapore dollars shall not recirculate the note
SDIC coverage
- Timely reporting of Insured Deposits, products and customer base to SDIC.
- To cover all eligible deposits under SDIC.
- Timely and accurate premium payment.
- To keep data error free.
- Co-ordination with SDIC in simulation exercise.
FATCA Compliance
- Identification of FATCA a/cs at the time of on-boarding and ongoing basis.
- Reporting of FATCA to IRAS.
Member in various local committees.
- Participation in ALCO in deciding the deposits rates.
- Active participation in other local committees such as Compliance, Operational risk Management etc.
Monitoring of Transactions including Blocking of transaction
- EDD Monitoring & reporting of High Value Cash Transactions.
- Monitoring of related party transactions & group transactions.
- EDD Monitoring of MR/HR customers & HR Countries transactions.
- Monitoring of movement of Blocked to unblock, dormant to active.
- Review of all monitoring reports in view of STR and filling for STR, wherever warranted.
Daily oversight of Department
- Review of General Ledger Balance on business parameter.
- Daily Monitoring of suspense outstanding.
- Daily monitoring of outstanding in settlement a/cs
- Monitoring of TOD, if any.
Submission of Regulatory/HO statements
- Submission of various regulatory and HO statements as per schedule without any delay with accuracy.
Attending Various workshop organized by MAS/ABS etc.
- To attend all the workshop/ consultations as and when organized and put process and changes in policies according to latest changes.
Attending Various Internal/External Audits
- Liaisoning with auditors for smooth completion of audit.
- Attending the auditors and immediate addressing to the issues highlighted by the auditors.
Staff meeting & knowledge testing, encourage staff to complete the online e-learning of AML and PDPA.
- Appraising all the department staff for the latest changes if any.
- To discuss issues in Staff meeting, if any.
- Conduct Regular test on the policies and process to knowledge up to day.
Compliance with guidelines of MAS / MOM / RBI / HO as and when applicable.
REMITTANCES:
01. Downloading of TT OUT Application from email.
02. Checking & Releasing TT OUT Transactions.
03. Verification of INCOMING TT Messages.
04. Verification of RTGS INR Payments.
05. Sending TT OUT advices to customers by email.
06. Submission of survey reports and reply to MAS (Regulator) queries regarding remittances.
07. Downloading JP Morgan Chase Statement.
08. Coordination with customers for obtaining supporting documents for the TT OUT and TT IN transactions and documents required for compliance queries.
09. Coordination with compliance department for obtaining approval for High Risk Transaction.
10. Oversight and monitoring of the remittance centre at Serangoon Road.
11. Attending queries of customers.
12. Call back for TT OUT transaction as and when required.
13. Follow up with Indian Branches for NRI customer issues.
14. Attending customer Calls.
15. Attending the Concurrent Audit Report.
16. Attending Compliance Queries and Audit queries.
17. Monitoring of Transactions for customers including walk-in.
18. Review of Remittance Charges
19. Updation of Policy & Procedures
20. Fixing of Exchange Rates for customers with dealer.
21. Screening of Wire-transfer’s against latest Sanctions
22. Verification of RTGS/Wire-transfer for walk-in customer
23. To facilitate NRI customer in opening NRE/FCNR/NRO accounts back in India and for their ancillary needs such as documents verification etc.
24. Leave Management of staff.
25. Timely rejection of payments/blocking of payments where mandatory information are not available and review of STR aspects, if required filling of STR
26. Issuance and monitoring of Remit cards.
27. Blocking of remittance where 100% match is for Sanctions and filling of STR. Review of all monitoring reports in view of STR and filling for STR, wherever warranted.
28. Reconciliation and monitoring of MAS and Rupee Nostro a/c with Mumbai overseas branch including CITI Bank funding for USD clearing.
29. Passing of un-reconciled entries highlighted by Reconciliation department.
30. Cash transaction management for walk-in customers
31. Monitoring of U-turn transactions.
32. EDD Monitoring & reporting of High Value Cash Transactions.
33. Monitoring of MR/HR customers & HR Countries transactions.
34. Staff meeting & knowledge testing.
35. Any other job/duty assigned by Dy.Chief Executive / Chief Executive.
36. Compliance with guidelines of MAS / MOM / RBI / HO as and when applicable.
