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AML Analyst - CFS AML Risk Management (12 Month Contract)

Singapore, Singapore
Closing date
Oct 6, 2022

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
CARM is an operational risk management team under OCBC Consumer Financial Services (CFS) Singapore business unit. The team actively works in partnership with CFS Business Risk Management Team (BRMT) to manage CFS AML Risk in a highly demanding and fast paced environment, with opportunities and exposure in the area of proactive AML risk management for aspiring AML expertise individuals.

Key Responsibilities
1. Analysing new and existing customers' profiles and transactions in the relevant sanctions, money laundering (ML) and terrorism financing (TF);
2. Providing relevant sanctions/ML/TF risk assessments of customers' profiles and transactions, highlighting any key risk area(s) for attention;
3. Recommending effective risk mitigating strategies for senior management consideration; and
4. Implementing approved risk mitigating strategies by ensuring thorough and consistent execution

Key Learnings & Duties
Key learnings and duties include 1 or more of the following AML/CFT control and risk mitigation activities:
1. Processing of escalated name screening alerts and/or transaction activities alerts;
2. Processing of priority requests from compliance or local authorities;
3. Reviewing and/or filing of internal Suspicious Transaction Reports (UTR) to assess if further escalation to Group Regulatory Compliance Unit for STR filing is required;
4. Conducting Standard or Enhanced Customer Due Diligence reviews;
5. Managing customers and internal stakeholders' request for information and documents;
6. Exiting and closure of customer banking relationships;
7. Tracking of activities progress through MIS update and reporting;
8. Providing AML advisory support to internal stakeholders where required; and 9. Participating in on demand risk management projects and activities, including optimisation, RPA and AI RegTech initiatives.

Key Stakeholders Management
1. Branch Service Risk Management
2. Premier Banking Offshore Middle Office
3. Premier Private Client Business Management Unit
4. Group Lifestyle Financing
5. Group Wealth Management
6. Consumer Secured Lending
7. Card Operations
8. Consumer Loan Operations
9. Investment Operations
10. Account Services
11. Regulatory Compliance Unit - AML

1. CFS Customers


Academic Requirement Diploma or Degree holders aspiring to develop a career in AML risk management

Added advantage for individual with:
1. Minimum 1 year of Sanctions/AML/CFT operational experience and/or
2. Certification in Sanctions / AML / CFT

Technical Skills
Technical knowledge and understanding of Singapore's regulatory requirements relating to sanctions, money laundering and terrorism financing

Personal Traits
1. Passionate in developing a career in AML risk management
2. Independent self-starter with a strong positive mindset and self-motivation ability
3. Meticulous, committed and focused
4. Possesses an inquisitive mind and raises critical challenges to augment current work processes
5. Strong analytical and problem-solving abilities
6. Has a good sense of risk acumen
7. Ability to influence and collaborate well with stakeholders and team members 8. Good written and oral communication skills and ability to interact effectively with people at different levels
9. Forward looking and embraces technology to drive efficient and effective AML risk management.

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