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VP, Team Lead, Business Management Support, Private Trust, Private Banking, Consumer Banking Group

Employer
DBS Bank Limited
Location
Singapore, Singapore
Salary
Competitive
Closing date
Mar 17, 2024

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Job Function
Operations
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Business Function

DBS Private Bank - Private Trust offers professional trustee services to clients of DBS Private Bank and Treasures Private Clients in the establishment and management of their private trusts. We strive to protect, manage and distribute the trust assets for our clients and their families through generations and to exercise our trustee's responsibilities in the best interests of the beneficiaries. We have a team of dedicated, experienced trust administrators who provide high-quality, timely and professional services to our clients in the management of their private trusts.

As the Team Lead of Business Management Support, Private Trust , you will be managing various business management support functions for the Private Trust business and leading a team of 5 officers. You will partner the Trust Managers and Private Trust Operations, and also work closely with the DBS Group Support Units, in the performance and delivery of your key deliverables.

Responsibilities:

Team Leader
  • Manage, supervise and guide the business management support team members in the performance of their responsibilities
  • Inspires the team to work collaboratively with their partners to achieve superior results
  • Mentor, coach and motivate team members
  • Set clear team goals, deadlines, and monitor team performance
Policies and Procedures

Formulate, review and implement policies and procedures in relation to the administration of private trusts and investment companies, including: -
  • AML/CFT and Sanctions requirements
  • FATCA and CRS compliance
  • documentation for new products and services
  • documentation for new/revised processes
  • internal risk and control procedures
AML/CFT and Sanctions Compliance

To be the AML Champion for the Private Trust business with duties including:
  • strong understanding of the AML/CFT and Sanctions requirements in relation to the Private Trust business
  • conduct regular training for the Private Trust team on the AML/CFT and Sanctions requirements to ensure that we can comply with the due diligence requirements for our private trusts
  • independent review of customer due diligence
  • ensure that all customer due diligence reviews are completed timely and properly within prescribed timelines
  • conducting of investigations of unusual activities and working with Trust Manager to submit unusual activities escalation
  • working closely with management and compliance team in implementation of appropriate internal AML/CFT and Sanctions procedures and controls
  • reviewing and identifying changes in AML/CFT and sanctions regulations and assessing potential impact on existing policies/ procedures and developing and implementing changes to ensure compliance
  • escalation of risk matters to management and compliance team as appropriate and reporting of KRIs and CDD statistics to various risk and management committees
  • addressing queries from regulatory examinations, compliance reviews and audits (both internal and external)
Regulatory Compliance, Risk and Audit
  • Manage and implement the compliance framework and processes for compliance with requirements in relation to the Trust Companies Act, FATCA, CRS, PDPA and other relevant regulations
  • Monitor, mitigate and rectify any risk exposure for the Private Trust business including investment risk, AML/CFT compliance risk, operational risk, regulatory risk, fiduciary risk, etc.
  • Manage compliance and audit (both internal and external) inspections and ensuring that identified gaps are addressed within committed timeline
  • Monitor compliance with all laws, regulations and rules governing DBS Trustee Limited as a licensed trust company, and to lead initiatives to implement framework for compliance with any new requirements
Projects and System Management
  • Manage and track progress to ensure timely completion of projects (both technology and non-technology), including scoping the business requirements and implementing fixes and enhancements to the trust system, training, documentation of user guides/manuals, workflows, etc
  • Systematic analysis of standard operating procedures and delivery of improvements through project implementation
  • Know our trust system well, so as to be able to prepare business requirements for system changes and report formats, and to determine if data is available from our trust system.
Change Management
  • Identify risks, control gaps or areas of improvement and lead change management (training, documentation of user guides/manuals, workflows, etc) to enhance process and system efficiency in the administration of private trusts, by working with stakeholders within Private Trust, across different function teams, across business/support units and with external stakeholders such as system vendor and service providers
Data Analytics and Reporting
  • Perform business data analysis for purposes of management reporting, regulatory compliance, data correctness / reconciliation reviews, etc.
  • Manage the data extractions and analytics to perform the regulatory reporting to MAS, IRAS and other regulatory authorities within the prescribed timelines
Investment Reviews
  • Manage the data extractions and analytics to perform investment performance reviews for the Private Trust portfolios
  • Coordinate regular investment committee meetings to review Private Trust portfolios and follow up on steps to mitigate investment risk
Requirements:
  • A bachelor's degree with at least 8 years of working experience as business analyst, consultant, project manager, product owner, or in compliance and risk management
  • At least 8 years of experience in a banking environment, preferably private trust or private banking/wealth management
  • Prior experience in an investment risk or performance analysis role would be an ideal
  • A strong leader with good interpersonal and influencing skills
  • Analytical/problem solving ability and strong attention to detail, with good business analysis skills required, i.e. interpreting business needs and translating them into processes and system requirements
  • Excellent Excel data analytics competency; comfortable with large datasets, and adept at manipulating data to deliver insights about the business data
  • Ability to collaborate, communicate, drive co-ordination, and project manage amongst multiple stakeholders (across the organisation and external) and exhibit a high level of proficiency and knowledge on our private trust business and products
  • Strong regulatory, compliance, risk and control knowledge
  • Inquisitive self-starter and quick learner, who is able to work in a fast-paced environment and multi-task, and dealing with complexity and ambiguity
  • Advanced user of Microsoft Excel; knowledge of Microsoft Powerpoint and Microsoft Visio
Apply Now

We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognizes your achievements.

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