Job Description
1. Manage financial crime-related risk governance frameworks
- Oversee the implementation of Financial Crime Compliance (“FCC”) management based on policies and frameworks.
- Evaluate the robustness of internal FCC policies to identify improvements and refine procedures to keep up with industry trends and regulatory requirements.
- Ensure changes to policies, processes and procedures are endorsed and communicated to relevant parties.
- Review and propose enhancements to systems architecture based on FCC management needs.
- Identify and interpret the impact of changing regulatory environment on the ESBSG’s risk exposure and propose responsive actions.
- Ensure FCC strategies and policies are translated to processes and procedures in accordance with the ESBSG's risk management frameworks.
2. Guide compliance with financial crime legislations, rules and regulations
- Provide FCC advisory and guidelines for business units to implement FCC compliance programmes.
- Review the relevance and effectiveness of FCC monitoring programmes and risk assessment procedures in view of emerging trends within FCC.
- Provide FCC advisory support to internal stakeholders.
- Review high-risk account activities and due diligence findings to identify suspicious activities.
- Interpret statutory requirements and provide training to facilitate understanding.
3. Identify and track financial crime risks
- Determine financial crime risk exposure of individual business units and functions within the organization.
- Review and escalate irregular activities and highlight risk of sanctions to identify preventative or corrective actions.
- Supervise the monitoring of analytical activities to identify financial crime scenarios.
- Identify strategies to implement following the identification of high-risk accounts &/or internal compliance breaches.
- Analyze the impact of emerging financial crime trends and practices on ESBSG’s risk exposure, to propose corrective actions.
- Assist in reviews of new product approvals.
4. Oversee financial crime incident investigations and incident management
- Oversee strategies for the review of alerts and/or high-risk accounts to provide “no objection” approvals.
- Initiate reviews and investigations on financial crime and/or sanction-related incidents.
- Collaborate with regulators and industry stakeholders on external financial crime incident reviews, due diligence and investigations.
- Evaluate and prioritize corrective actions for FCC violations.
- Evaluate loss recovery potential and initiate actions to minimize further risk exposure.
5. Oversee the production of regulatory submission material
- Act as ESBSG’s representative to liaise with regulatory bodies for FCC-related issues.
- Review the accuracy and completeness of FCC-related reports for regulatory submission and audit requests.
- Develop reports on suspicious activities and suspicious transactions for regulatory inspections.
- Draft responses to regulatory bodies based on documented reference records.
- Oversee the development of FCC-related reports for regulatory submission and audit requests.
- Ensure timely and accurate maintenance of risk management and financial crime activity reports for stakeholders.
- Communicate plans and status of FCC actions to internal and external stakeholders.
Job Requirements
- Candidate is mature with good manners.
- As Candidate is required to be familiar with the compliance requirement of MAS, we’d require candidates with working experience in Singapore Banking Industry and not more than 8 banks
- Candidates with at least 2 years’ experience as an Assistant Manager will have advantage.
- Given that we are a Taiwanese bank; knowledge of mandarin is essential in performing our task efficiently. Bilingual candidates with good command of both written and conversational language abilities will have advantage as this role requires direct corresponding and reporting to our Head Office in Taiwan.
- Candidates possess CACS, FRM and/ or CFA will have advantage.
