The incumbent will support the trust company in carrying out periodic reviews for private banking clients who have set up a trust structure for succession planning purposes
- Perform periodic reviews on trust client accounts in accordance with scheduled cycles pegged to risk ratings – AML requirement
- Review source of wealth background of clients, corroborate the declared net worth independently and assess supporting documentation (e.g. financial statements) in line with regulatory requirements
- Carry out name screening in accordance with bank standards. Conduct assessment on potential hits, follow compliance guidance and procedures.
- Complete the periodic review checklist, and assessment for trust relationship manager and team head sign-off
- Interact with front office to obtain documents
- Track due reviews and produce management reports as necessary
- Ensure client due diligence documents (Eg. passports, address proof, certificates of incumbency etc.) are up to date and accurately recorded
- Ensure outstanding matters are attended to or, if not, escalated accordingly.
- Ensure that Compliance approval is obtained where required.
- Review the permanent file to ensure good order and completeness.
- Assist with other departmental projects and tasks as necessary
Requirements:
- Min Degree/Diploma holders with 3 to 5 years in banking/financial industry, experience in KYC/AML/Compliance/Risk, knowledge of anti-money laundering procedures will be an advantage
- Team player
- Organised, detailed and with good risk awareness
