Compliance Specialist/ Manager - Client Onboarding (Senior Associate/ 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! GENERAL DESCRIPTION
This position within the Client Onboarding Team of the Compliance Department is responsible for onboarding of all new clients of the Bank. The successful candidate is expected to be knowledgeable in AML principles to be able to analyse situations to identify AML issues and red flags, gaps and risks in KYC information and documentation at the onboarding gateway, and to be able to work well within a team and yet take initiative and ownership over his/her own area of work. MAIN DUTIES
Qualifications WORK EXPERIENCE REQUIREMENTS
- Monitor for incoming and outgoing transfer of fund/securities on accounts blocked by Client Onboarding for enhanced monitoring.
- Monitor for third party asset contribution into trust accounts.
- Perform assessment and approve KYC information and documentation for onboarding of new clients in an efficient and timely manner.
- 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 and documentation for onboarding.
- Enable business growth whilst balancing risk awareness and manage money laundering/terrorism financing risks. This requires keeping abreast of changes to regulatory requirements and emerging risks in this in an evolving regulatory landscape.
- Assist with training for new joiners and Front Office on AML/CFT and onboarding requirements.
- Mentor and train junior Compliance Officers
- At least 5 years of experience in AML advisory and client onboarding in a private banking environment in Singapore.
- Knowledgeable and sensitive to the risks involved in onboarding various types of private banking clients, including complex structures like trusts, foundations, and private investment companies.
- Meticulous, conscientious with the ability to work independently and meet deadlines,
- Familiar with excel and preparation of statistics for management and finance reporting.
- University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.
- Professional certifications such as ACAMs or ICA would be an added advantage.