Job Role Description - Summary
The Compliance Analyst supports the implementation of the Bank’s Compliance program, controls, checks and processes to ensure that the Bank is compliant with the relevant guidelines and regulations. He/She executes tasks according to procedures to ensure regulatory compliance across the organisation, and escalates any issues to relevant parties where needed. He assists with keeping compliance processes updated and conducting research and preparation of necessary materials for standard compliance reporting. He performs on-going compliance monitoring and reviews to facilitate the Bank’s compliance with relevant regulatory requirements. He assists in investigations into compliance breaches, financial crime and/or sanction-related incidents.
He also supports the compliance knowledge management by conducting training and implementing new or changing regulations.
The Compliance Analyst is comfortable executing tasks independently and implementing guidelines in accordance with requirements and processes. He is also able to cope in fast-paced environments, and is organised and responsible. The Compliance Analyst assists in all matters concerning financial crime in co-ordination with the AML function to ensure undisrupted support to the business and the bank as required.
Implement compliance controls, policies and procedures
- Support the implementation of risk and compliance controls in accordance with compliance policies and frameworks
- Assist in the implementation and maintenance of the Bank’s AML/CFT Compliance program
- Conduct routine monitoring and surveillance activities in accordance with Compliance Monitoring & Testing Plan e.g. Personal Account Dealing, Voice Communication Surveillance, Bloomberg Chat and Communication review etc.
- Execute regulatory compliance management procedures and escalate deviations
- Support internal compliance testing activities
- Generate suspicious activity reports for trade, transactions and other activities
- Track the implementation of compliance policies, processes and procedures and evaluate their effectiveness
Execute compliance-related administration
- Assist in updating of compliance-related policies, procedures, processes, databases and registers
- Assist in performing the Enterprise Wide Risk Assessment for the Branch
- Monitor communication channels for compliance queries and escalate to relevant parties
- Direct stakeholders to compliance resources and references
- Facilitate and respond to requests from auditors
- Facilitate annual CRS and FATCA reporting on an annual basis to the local tax authorities
- Report compliance issues from a technology system standpoint
- Gather evidence and documentation for compliance investigations into compliance breaches, financial crime and/or sanction-related incidents, and assist in the drafting of STR where required
- Review, assess and approve new KYC requests and periodic requests
- Review and timely clearance of Safewatch and World Check One alerts escalated to Compliance
- Assist in review and clearance of KYT requests (per-transaction monitoring) raised to Compliance
- Prepare MI/statistics for Compliance Committee meetings and quarterly Head Office reporting
- Assist in performing of CINTMT (PIXIS) controls/checks on a periodic basis and RCSA controls on a yearly basis
- Assist in licensing and cessation of regulated representatives for Front Office
- Facilitate and review fitness and proprietary of the licensed representatives via the fit and proper attestation, external business interest declaration and credit bureau reports
- Assist in any other duties and responsibilities as assigned
Support compliance knowledge management
- Conduct research on industry best practices and developments to update knowledge management systems
- Gather information on the latest regulations and requirements to support the preparation of compliance reports
- Compile compliance and financial crime compliance activity status reports
- Document compliance assessments, monitoring and surveillance findings
- Coordinate responses to compliance queries and/or regulatory queries
- Assist in preparation of compliance-related training materials
- Facilitate the rollout of training to staff and track their completion
- Assist in the delivery of face-to-compliance training to new hires
- Disseminate internal compliance-related communication, memos and procedures to the relevant departments
- Review and disseminate MAS Circulars and Guidelines to the relevant departments
Requirements
- Minimum Bachelor’s Degree in Banking and Finance or Accounting related.
- Professional Qualifications such as ACAMS will be an advantage.
- Minimum 5 years of relevant working experience in Regulatory Compliance.
- Good report writing, communication and interpersonal skills is necessary.
- Able to work in a team as well as independently with minimal supervision.
- Proficient computer skills, including Microsoft Office (Word, Powerpoint and Excel).
