GENERAL DESCRIPTION
This position within the Client Onboarding Team of the Financial Crime Compliance Department is responsible for onboarding of all new High risk clients of the Bank. The successful candidate is expected to be knowledgeable in AML and SOW principles to be able to analyse situations to identify gaps and risks in KYC information and documentation, and to be able to work well within a team and yet take initiative and ownership over his/her own area of work.
MAIN DUTIES
- Ensure timely, quality CDD review and risk assessment of new BOS Singapore-booked High risk accounts and OCBC Segment C accounts.
- Advise Front Office on client onboarding matters such as deficiencies of KYC information and documentation for onboarding.
- Identify and assess risk issues relating to High risk clients during onboarding and provide appropriate resolution and decision making.
- Keep abreast of changes to regulatory requirements for AML/CFT and communicate changes internally with a view to ensuring established policies, procedures and processes are compliant with new requirements.
- Identify gaps and implement on-boarding controls and system/process enhancement that are fit for purpose and to address current and future requirements in a rapidly changing regulatory environment and an evolving AML landscape, in line with industry best practices.
- Assist Head of Client Onboarding and Deputy Head of Client Onboarding in the discharge of their duties as required from time to time.
- Support the execution and implementation of the Bank’s strategic initiatives.
- Liaise with internal and external auditors on AML/CFT queries related to Singapore.
- Prepare weekly and monthly reports to Senior Management on periodic review statistics in Singapore.
WORK EXPERIENCE REQUIREMENTS
- At least 5 years relevant experience in AML and SOW/KYC in a private banking environment.
- Knowledgeable and sensitive to the risks involved in onboarding various types of private banking clients, including complex structures like trusts, foundations, and private investment companies.
- Experience in investigating suspicious transactions would be beneficial.
- Familiar with excel and preparation of statistics for reporting.
- Good communication and interpersonal skills.
- Commercial astuteness.
- Self-motivated personality with the ability to make things happen.
- Ability to work independently, determine priorities and meet deadlines.
EDUCATION REQUIREMENTS
- University degree or higher education.
- Professional certifications such as ACAMS or ICA would be an added advantage.
