Enhanced Due Diligence Manager
6 months contract
About Client Management Services
Client Management Services operates within Operations & Technology and is a centralised, global function, which supports the business by delivering and operating its client lifecycle services. CMS has an operational presence across 4 locations, including Singapore. CMS includes functions such as Know Your Client Onboarding, Client Maintenance, Client Offboarding, Client Regulatory, Client Integration Assessment and Client Services.
About Enhanced Due Diligence (EDD) Team
The EDD team operates within the CMS framework and is primarily responsible for performing due diligence beyond what is performed by the KYC Team for customers with high-risk indicia. From a risk framework perspective, the EDD Team is situated within the first line of defence and works closely with Financial Crime to ensure the proper governance of high-risk customers at onboarding and refresh. The process operates within strict adherence to the client’s organisation defined Financial Crime – Anti Money Laundering polices.
Overall Purpose of the role
The role holder will primarily undertake the responsibilities of analysing and advising the business on the risk presented by high-risk customers. The responsibilities also will include report writing and detailed memos documentation of the thought process in identifying financial crime risk.
Responsibilities:
Key accountabilities
- Comprehensive EDD report writing skills covering the key risks identified for the client and the extent to which these risks can be mitigated, or actions that need to be carried out to protect the bank.
- Providing advice on the client’s risk profile (e.g., PEP entity assessment, and the rationale) and whether any gaps or material concerns were found.
- Advise on the individuals associated with the corporate entity, i.e., PEP.
- Research and analysis of complex financial crime AML news.
- Execution of additional screenings as may be required during EDD work.
- Knowledge of corporate governance structures and be able to advise on the risks and the evidence obtained.
- Understanding and verifying the Source of Wealth, in depth Nature of Business analysis and the Source of Funds.
Stakeholder Management
The role holder should maintain effective relationships and deal openly with all key stakeholders, in line with the client’s organisation Purpose, Values and Mindset, taking into account the needs of all stakeholders and taking decisions which, in the long term, are positive for clients, shareholders, colleagues and the communities in which the client organisation operates.
Risk and Control Objective
- Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Organisation’s Policies and Policy Standards.
Essential Qualifications:
- Bachelor Degree in Banking/Accountancy/ Finance/ Business Administration or related equivalent
- Minimum 3-5 years of experience in financial services
- Minimum 3 years of experience in Know Your Customer, Due Diligence, or Enhanced Due Diligence.
- Experience in and have strong understanding of AML, Sanctions, governance and regulatory control frameworks and best practices.
- Knowledge and understanding of the risk association (PEP, MSB, etc.) and AML red flags.
- Awareness of the current market issues and industry developments, particularly within the AML Regulatory environment
- Understanding of Investment Banks and the products it offers.
- Business fluency in Chinese to read and understand documents in Chinese would be an advantage, as there would be documents and communication received in Chinese for this role
- Certificates in ACAMS of ICA AML qualification would be an advantage
Work Arrangement - Structured hybrid role:
We offer a hybrid working experience that blends the positives of working alongside colleagues at our onsite locations, together with working from home. We have a structured approach where colleagues work at an onsite location on fixed, ‘anchor’, days of the week, for a minimum of two days a week or more, as set by the business area (or nearest equivalent if working part-time hours). Please discuss the working pattern requirements for the role you are applying for with the hiring manager. Please note that as we continue to embed our hybrid working environment, we remain in a test and learn phase, which means that working arrangements may be subject to change on reasonable notice to ensure we meet the needs of our business.
Reg no: R1879342
EA license no: 94C3609
