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 position within the Client Onboarding Team of the Financial Crime Compliance Department is responsible for the KYC approval to onboard new clients of the Bank. The successful candidate is expected to be knowledgeable in PB KYC / 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 take initiative and ownership over his/her own area of work.
- MAIN DUTIES
- Perform source of wealth and risk assessment and approve onboarding of new accounts in an efficient and timely manner.
- Identify risk factors and ensure they are adequately addressed and mitigated.
- Support stakeholders with timely advice on AML related matters, including the Bank's AML policy, standards and procedures related to the account opening.
- Mange the Business by engaging in conversations to provide solutions or firmly communicate risk decisions
- 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.
- Train and provide guidance to junior team members in the client onboarding team.
- File Suspicious Transaction Reports (STRs) for prospects which are rejected due to AML concerns
- Provide approval for accounts blocked by Client Onboarding team for enhanced monitoring Eg monitor for incoming and outgoing transfer of fund/securities.
- At least 8 years of experience in Private Banking SOW KYC and AML advisory 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.
- Well versed with MAS regulations and private banking guidelines.
- Meticulous, conscientious with the ability to work independently and meet deadlines.
- University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.
- Professional certifications such as ACAMs or ICA would be an added advantage.