The successful incumbent will represent the first line of defence and be a key stakeholder in driving the AML/KYC function within the region. The scope of work will be completed in accordance with IQ-EQ’s internal AML/CFT framework, as well as international and domestic AML/CFT regulations and guidelines, across a wide spectrum of service offerings, both internal and external. This role will cover both fund administration and corporate segments.
Tasks
- Managing the AML/KYC team in Singapore.
- Act as subject matter expert and main point of contact to clients and internal departments, providing support and guidance on all AML/KYC matters where required.
- Perform client and fund investor due diligence for new & existing accounts in accordance with MAS and CIMA AML/CFT rules, along with internal policies and procedures to identify and mitigate any risks for the clients and IQ-EQ.
- Manage end to end process including kick off projects and coordination with clients, and all other relevant stakeholders within the IQ-EQ teams.
- Review and conduct source of wealth & funds corroboration of clients and investors in line with regulatory requirements.
- Familiar with AML/KYC requirements for individuals and different types of entities e.g., Companies, Limited Partnerships, Financial Institutions, VCCs, Trusts etc.
- Well-versed in Enhanced Due Diligence for high-risk cases including PEPs, Adverse Media, Sanctions, and other independent recommendations to mitigate identified risks.
- Provide support to the business during preparation of escalation processes to the Asia Leadership Team and/or Group Risk & Compliance.
- Assisting in contributing to the updating and documenting of processes and procedures in all aspects of the AML/KYC cycle.
- Lead any system development projects and ensure all team members are updating the necessary registers and databases in a timely and accurate manner.
- Preparation of Key Risk Indicators and other management reports.
- Assist with client and internal ad-hoc requirements from time to time which include but are not limited to process walkthroughs, internal audit, AML questionnaires and/or regulatory inspections.
- Leading training of new and existing joiners, and other colleagues covering areas such as remediation projects, latest regulations, change in operational processes and refreshers as and when required.
- Implementing and driving efficiency within the team, supervising tasks performed by team members.
- Contribute ideas and participate in transformation and change initiatives to drive continuous improvement to further enhance key deliverables.
Other
- Support the department as required within the confines of role.
- Undertake any additional reasonable duties or special projects as required by the firm.
