Senior Compliance Executive
Singapore
Headquartered in Singapore with presence in the United States and Indonesia, Straits Financial serves as the financial services arm of the CWT Group, a global leading provider of integrated logistics and financial services. We provide a fully-integrated service for our clients to access the financial and commodity derivative markets and will continue to expand into key financial and commodity markets.
We are looking for a Senior Compliance Executive with an eye for detail but able to work efficiently to assist in all compliance and AML matters within the Straits Financial Group. Candidate should have experience in the space of financial crime prevention, as well as with the Securities and Futures Act, Commodity Trading Act, Payment Services Act, Precious Stones and Precious Metals Acts and their subsidiary regulations, and have dealt with Regulators on a regular basis.
The Team:
The Team is responsible for putting in place and executing proper level-two governance and reporting mechanisms for financial crime and compliance, including for existing business and implementation of new businesses, addressing any AML, compliance and regulatory risks faced by the company. The team is also primary responsible for liaising with legal counsel to address legal documentation and legal risk issues. Compliance works closely with other departments in the organization to ensure compliance risks are effectively addressed with proper processes; as well as Chief Operating Officer for group reporting and oversight.
Responsibilities:
Your primary responsibilities will be:
Financial Crime Prevention
- Establishing and maintaining policies, systems and processes to counter the risks of the Company’s involvement in money laundering, terrorist financing, weapons proliferation and sanctions, as well as filing of suspicious transaction reports;
- Coordinate and review regular transaction monitoring and analysis from a financial crime perspective;
- Responsible for maintaining and ensuring senior management is aware of the enterprise-wide AML risk assessment for the Company as well as the corresponding mitigation measures;
- Perform 2nd level review during the onboarding of high-risk customer accounts
Regulatory compliance
- Managing regulatory compliance across all local entities within the Group;
- Proactively anticipate and research on new regulatory requirements, including consultation papers, propose and follow through with implications on the business and implementation actions;
- Endorse annual compliance calendar and programs, ensuring adherence to ongoing obligations;
- Perform compliance reviews, taking action in dealing with non-compliance situations and creating realistic plans to overcome them;
- Coordinate with counterparties on regulatory requests and ensure prompt follow-up.
Internal compliance
- Provide 2nd level monitoring and management of compliance to internal policies and procedures;
- Managing and dealing with matters relating to Code of Conduct, errors, complaints, as well as incidents (together with HR where necessary).
Others
- Responsible for following-upon trade surveillance alerts and liaising with relevant departments as necessary;
- Responsible for fund movement surveillance.
- Responsible for daily regulatory and compliance operations, such as daily exchange reporting and other periodic regulatory reporting.
- Responsible for licensed representatives’ licensing matters.
- Review advertising and marketing materials;
- Assist to provide advice and guidance on compliance policies and procedures relevant to the applicable rules and regulations of the company.
- Process improvements and other ad-hoc projects, including system implementation and testing, in relation to the above scope.
- Escalate salient matters to the Head of Compliance and Chief Operating Officer as necessary.
- All other tasks as allocated by Head of Compliance or Chief Operating Officer from time to time.
Requirements:
You should possess the following:
- At least a Degree in preferably Business, Accountancy, Finance or equivalent, candidates with legal background will be viewed favourably;
- At least 6 years of relevant working experience in the brokerage (securities/derivatives) industry is a must, candidate with experience in Payment Services Act (PSA) or Asset Management space will be viewed favourably;
- Familiar with AML/KYC tools and financial crime prevention standards for traditional financial institutions, physical commodities, as well as the up-and-coming fintech space;
- Well-versed with regulatory obligations of SFA, FAA, as well as exchange regulations (e.g. CME, ICE, SGX), as well as the newly introduced PSA, and changing regulatory landscape of digital assets;
- Able to work in a high volume, fast-paced environment that is continuously growing;
- Highly collaborative and possess excellent writing, communication and problem-solving skills.
- Team player but able to work independently;
- Meticulous, mature with a positive work attitude.
