Private Banking Wealth Management - Business Oversight Compliance
6 months contract
About Private Bank
The client provides private banking, wealth planning, credit and investment solutions, and brokerage services to private and intermediary clients. Additionally, our clients benefit from access to the breadth of personal, corporate and investment banking expertise across the bank, one of the largest financial services groups in the world.
About Compliance
Compliance at the client’s organisation comprises circa 1300 employees. It oversees all compliance activities across the organisation and all the regions in which we do business. The Compliance Function is responsible for the creation and implementation of appropriate regulatory policies across all business lines, for the provision of related training and advice, the monitoring and review of business activities to measure compliance with relevant policies and procedures, for managing investigations and undertaking activity for the management of client’s organisation regulators and in line with client’s organisation values.
Overall Purpose of the role
The role holder will primarily undertake the responsibilities of Business Oversight Compliance for Private Bank in Singapore, as well as provide focused compliance support to Private Bank front office staff facing the Asian market, and work with global and regional colleagues (including Financial Crime colleagues) on conduct or reputational risk matters arising from Private Bank that impact the Asia Pacific region.
Responsibilities:
Key accountabilities
- Providing day-to-day advice on compliance, conduct and reputational risks, including advice on Compliance Policy and Standards and related regulations in accordance to our Business Oversight Compliance Target Operating Model.
- Providing technical advisory in relation to regulatory information request, incident reporting and supporting any regulatory inspection and remediation.
- Provide a high standard of conduct and reputational risk assessment and management to the Singapore Private Bank. Provide timely, clear and technically sound advice, check and challenge where necessary, demonstrate prudence and sound judgement and report and escalate conduct and reputational risks in a clear and timely manner.
- Identify and manage internal stakeholders in the three lines of defence and be proactive and responsive in your engagement and collaboration. Identify and manage external stakeholders, representing the organisation in a professional manner. Cultivate relationships such that they are mutually beneficial.
- Remain aware of internal, industry and regulatory developments and take steps to ensure that your technical, sector and market knowledge is up to date, and work with business and/or project teams to interpret their impact and support their implementation.
- Reviewing product documentation and marketing materials and providing guidance on product and service development, launches and modifications, as well as ensuring a robust product governance environment through attendance at internal governance meetings and working groups.
- Developing and delivering training on relevant conduct risk topics to the business.
- Carrying out periodic Conduct Risk reviews/verification checks of processes and controls in these teams to ensure adherence Compliance's Conduct Risk Standards.
- Represent compliance in key control and governance forum
- Interacting with relevant industry bodies on rules and regulations.
Stakeholder Management
The role holder should maintain effective relationships and deal openly with all key stakeholders, in line with the client’s organisation Purpose, Values and Mindset, taking into account the needs of all stakeholders and taking decisions which, in the long term, are positive for clients, shareholders, colleagues and the communities in which the Bank operates. The role holder’s key first line of defence stakeholders are as follows:
- Head of Private Bank Singapore
- Head of Private Bank COO, Singapore
- Chief Controls Office
Decision-making and Problem Solving
- Provide active guidance and challenge to the business in new product development and in making changes to existing products, as well as guidance on live queries
- Ability to spot problems, escalate as appropriate and proactively drive change
Risk and Control Objective
- Take ownership for managing risk and strengthening controls in relation to the work.
Essential Qualifications:
- Bachelor Degree’s in Business/Finance or equivalent
- Minimum 2 years of experience in private banking
- Knowledge and understanding of both the regulatory frameworks and products and services offered by the Private Bank
- Knowledge and understanding of compliance frameworks and risk management
- Experience in managing multiple senior stakeholders and work effectively with global and regional Compliance colleagues
- Proficient in Microsoft products applications e.g. Excel, PowerPoint would be an advantage
Work Arrangement - Structured hybrid role:
We offer a hybrid working experience that blends the positives of working alongside colleagues at our onsite locations, together with working from home. We have a structured approach where colleagues work at an onsite location on fixed, ‘anchor’, days of the week, for a minimum of two days a week or more, as set by the business area (or nearest equivalent if working part-time hours). Please discuss the working pattern requirements for the role you are applying for with the hiring manager. Please note that as we continue to embed our hybrid working environment, we remain in a test and learn phase, which means that working arrangements may be subject to change on reasonable notice to ensure we meet the needs of our business.
Reg no: R1879342
EA license no: 94C3609
