Client Due Diligence Manager (Financial Intermediaries) - Associate Director

At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!

This role within the Global Front Line Risk & Control team is responsible for supporting the periodic reviews of existing relationships with financial intermediaries (e.g., Independent Asset Managers, Referral Intermediaries and FI Counterparties). The successful candidate is expected to be knowledgeable in AML and KYC principles to be able to identify gaps and risks in KYC information including but not limited to background screening, documentation, and Source of Wealth.

Client Due Diligence

• Perform assessment and approve KYC information and documentation for periodic reviews
• of existing relationships with financial intermediaries (e.g., Independent Asset Managers,
• Referral Intermediaries and FI Counterparties).
• Ensure prompt escalation to Financial Crime Compliance (FCC) when incremental
• AML/CFT/Sanctions related risks have been identified.
• Conduct investigations on suspicions surfaced during periodic review and prepare STR reports to the STRO
• As the subject matter expert on AML, support businesses with timely advice on AML related matters, including the Bank's AML policy, standards and procedures. Including but not limited to Liaise with relationship managers / business managers for deficiencies of KYC information
• Train team members as well as colleagues from front office on matters pertaining to KYC AML.
• Assist team lead / functional head on tasks related to client review including acting as a deputy as and when delegated.
• Assist to response queries, clarifications resulting from internal, external, statutory or regulatory audit
• Identify gaps and implement controls including system and 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.
• Support Global Front Line Risk and Control on the matters that are assigned from time to time
• in line with overall priorities of the bank.
• Collaborate with other colleagues within the bank to drive and assists remediation projects
• as and when required.
• Prepare Management information reports based on agreed requirements.

Qualifications

• Minimum 7 years of experience in AML/KYC under the client review function in a private banking environment.
• Knowledgeable and sensitive to the risks (PEP, Sanctions, reputational risks) and suspicious activities typical of private banking clients.
• Knowledge of regulations including MAS, HKMA and other intergovernmental / non-governmental organization such as FATF / Wolfsberg.
• Meticulous, conscientious with the ability to work independently and meet deadlines.
• University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.

Preferred skills

• Strong understanding of AML/CFT framework and the regulatory environment and its applicability to Private Banking clients in the areas of onboarding, on-going client reviews and transaction monitoring.
• Familiar with MS Excel, MS Word, MS PowerPoint and other office automation tools.