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Compliance Specialist - Client Review (Manager / AVP)

Bank of Singapore
Singapore, Singapore
Closing date
Jul 8, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
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!

Bank of Singapore opens doors to new opportunities.
Start your career with Bank of Singapore as a Compliance Specialist ! !

This position within the Client Review Team of the Financial Crime Compliance Department is responsible for the periodic review of existing accounts of the Bank. The successful candidate is expected to be knowledgeable in AML principles to be able to analyze situations to identify AML issues and red flags in respect of existing client accounts, 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:
  • Perform assessment on periodic reviews or trigger event reviews of existing relationships including but not limited to higher risk relationships and financial intermediaries. This includes reviewing the adequacy of source of wealth (SOW) corroboration, performing high level transaction review, identifying incremental AML or reputational risk via refreshed name screening.
  • Conduct investigations on suspicious transactions/ activities surfaced during periodic review and prepare STR reports to the STRO.
  • Liaise with relationship managers/ business compliance managers for issues and deficiencies identified during periodic review.
  • Escalate issues identified in the periodic review process and providing practical solutions to the businesses.
  • Keep abreast of changes to regulatory requirements for AML/CFT and communicate changes internally with a view to ensuring established policies, procedures and processes are compliant with new requirements.
  • Update and operationalize periodic review processes and workflows to ensure consistency amongst team members.
  • Providing AML/CFT advice to businesses on matters pertaining to periodic review of clients.
  • Assist with training for new joiners and front office personnel on periodic review regulatory requirements in Singapore.
  • Liaise with internal and external auditors on AML/CFT queries related to Singapore.
  • Prepare weekly and monthly reports to Senior Management on periodic review statistics in Singapore.

SOW Uplift Project:

As part of periodic review or trigger event review assessment, the Compliance Specialist will be responsible to ensure that the standards of SOW corroboration of High-Risk clients are uplifted to prevailing standards. This includes reviewing the client's source of wealth to ensure plausibility and to check for appropriate level of corroboration and evidence to identify the client's original source of funds and wealth growth.
  • Perform corroboration and plausibility analysis on the SoW write-up in accordance with the bank's SoW guidelines.
  • Review information from multiple sources to ensure complete and consistent information across the clients' profile.
  • Follow up with the Relationship Managers where additional information or clarifications are required and support them by ensuring the final write-up meets the internal requirements.
  • Accurately document your plausibility assessment, with the supporting documents into the template and archive within the system.
  • Provide transparency and oversight to senior management to ensure cases are reviewed and completed in a timely manner and any issues are identified early.


  • University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.
  • Professional certifications such as ACAMs or ICA would be an added advantage.
  • Relevant experience within private banking, regulatory or compliance environment, a sound understanding of financial markets and the ability to maintain and enhance productive relationships with staff and regulators.
  • Minimum 3 - 7 years of AML experience (KYC review and transaction monitoring experiences) in a private banking environment in Singapore.
  • Experience and familiarity in transaction review work would be required.
  • Willingness to take on a diverse product range and to leverage personal experience and skills into new areas.
  • Knowledgeable and sensitive to the risks and suspicious activities typical of private banking clients.
  • Familiar with excel and preparation of statistics for reporting.
  • Good communication and interpersonal skills.
  • Commercial astuteness.
  • Self-motivated personality with the ability to make things happen.
  • Ability to work independently, determine priorities and meet deadlines.

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