Compliance Officer

Key responsibilities

1. Regulatory Adherence:Ensure the firm complies with all applicable laws and regulations, including those from the Monetary Authority of Singapore (MAS), Securities & Futures Act (SFA), and other relevant authorities.
   Monitor changes in regulations and implement necessary adjustments to policies and procedures.
   
2. Policy Development and Implementation:Develop, review, and update the firm’s compliance policies and procedures.
   Implement compliance programs to prevent illegal, unethical, or improper conduct.
   
3. Risk Management:Identify and assess compliance risks within the business.
   Develop and enforce policies and procedures to mitigate identified risks.
   
4. Monitoring and Auditing:Conduct regular audits and reviews of business practices to ensure compliance with internal policies and external regulations.
   Monitor transactions and activities for signs of non-compliance or suspicious behavior.
   
5. Training and Education:Provide ongoing training and education to employees on compliance policies, regulatory changes, and ethical standards.
   Ensure that staff understand their compliance responsibilities and the implications of non-compliance.
   
6. Reporting and Communication:Report compliance issues and violations to senior management and, when necessary, regulatory bodies.
   Maintain open lines of communication with regulatory authorities.
   
7. Client Due Diligence:Oversee the firm’s Know Your Customer (KYC) and Anti-Money Laundering (AML) processes to ensure proper client identification and risk assessment.
   Conduct due diligence on new and existing clients to prevent fraud and money laundering.
   
8. Record Keeping:Ensure proper documentation and record-keeping of compliance activities and findings.
   Maintain accurate and up-to-date records of all compliance-related matters.
   
9. Conflict of Interest Management:Identify potential conflicts of interest and develop strategies to manage and disclose them appropriately.
   Ensure that business practices do not compromise the firm’s integrity or client interests.
   
10. Incident Management:Investigate and manage compliance incidents, including breaches of policy or regulation.
    Implement corrective actions and follow up to ensure issues are resolved and do not recur.
    

Skills and Qualifications

1. Educational Background:Bachelor’s degree in finance, law, business administration, or a related field. Advanced degrees (e.g., JD or MBA) or certifications (e.g., Certified Compliance and Ethics Professional (CCEP)) are advantageous.
   
2. Experience:Minimum 15 years of experience in compliance, legal, or risk management roles, preferably within the financial services or wealth management industry.
   
3. Knowledge:In-depth knowledge of regulatory requirements and industry standards for wealth management.
   Familiarity with financial products, services, and the operational processes of a wealth management firm.
   
4. Skills:Strong analytical and problem-solving skills.
   Excellent communication and interpersonal skills.
   Attention to detail and the ability to manage complex compliance requirements.
   Proficiency in compliance software and other relevant technologies.