Business Compliance Manager - Singapore - Bank of Singapore

Bank of Singapore

Verified Company

Singapore

3 weeks ago

Posted by:

Wei Jie

beBee Recruiter

Description

Business Compliance Manager (Director)

-

(

230000QK

)

Description

Client on-boarding

Conduct indepth due diligence background checks and screening on prospects, clients and counterparties to identify the risks of the client or counterparty
Work with Business and Compliance to ensure onboarding submission is of high AML quality and account is opened within the SLA.

Client and Transaction Reviews

Conduct reviews of existing clients to ensure their biodata remains updated
Organize Quarterly meetings and focus group training to align front office practices with current procedures.
Deliver regular progress reports to senior management
Handle the alerts arising from the periodic screening of the bank's customer database
Identifies and investigate a suspicious activity, prospect or client and make necessary recommendations to senior management to file the appropriate suspicious transaction reports to CAD and MAS/ HKMA.
Conduct periodic reviews of KYC and CDD information of existing relationships including but not limited to higher risk relationships and financial intermediaries.
Investigation of suspicious transactions surfaced during periodic review.
Liaise with relationship managers / business compliance managers for issues and deficiencies identified during review.
Update and implement periodic review processes.
Guide team members in conducting the onboarding and periodic review.

Regulatory

Work closely with relevant stakeholders to ensure effective review, implementation and adherence to Regulatory policies and procedures
Perform risk assessments from regulatory and business developments. Conduct assessment of an array of Risk and Regulatory attestations (RCSA, RRSA, etc.)
Facilitate the consolidation of MIS reports for management reporting and support in various risk and governance forums/committees
Assist in conducting reviews/sample testing on a riskbased approach to ensure Front Office staff meet the regulatory and Bank policy requirements
Monitoring of staff travel under Cross Border Marketing Guidelines
Length of Stay restrictions

General

Collaborate with Front Office to drive completion on various remediation and review exercises (e.g. W8 refresh, FATCA
CRS Submission and RM inquiry, MANTAS, STR, etc.)
Provide support to Business Compliance Manager and Head of Business Management in various Compliancerelated projects and working groups
Assist in tracking of issues and actions escalated by Front Office or management
Conduct internal training for staff in front office.
Lead projects or process improvements assigned by management.
Consolidate review findings and Group management reports to Senior Management.
Collation of statistics.

Qualifications

Minimum 7 years of experience in AML and client review in a private banking environment.
Knowledgeable and sensitive to the risks and suspicious activities typical of private banking clients.
Experienced in investigating suspicious transactions.
University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.
Preferred skills
Understanding of Mandarin as this role would require conversing or reading documents in Mandarin
Strong understanding of AML/CFT framework and the regulatory environment and its applicability to Private Banking clients in the areas of onboarding, ongoing client reviews and transaction monitoring. Collect and perform data analysis across various risk metrics. Prepare and present timely summary to management.
Familiar with MS Excel and preparation of statistics for reporting

Primary Location:

Singapore

Job:

Compliance

Organization:

Bank of Singapore Division

Schedule:

Permanent

:
Full-time

Job Posting:
14-Apr-2023, 1:50:40 AM