- Singapore
The Bank Of East Asia, Limited Hiring! Full Time Compliance Manager in - Ricebowl
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Job Description
Responsibilities
Position Summary
You will be a member of the Compliance team responsible to manage the AML and Regulatory Compliance risk of Private Banking to ensure compliance with corporate HQ policies and regulatory guidelines.
Responsibilities
- Review high risk Customer Due Diligence (CDD) cases for both new onboarding cases and periodic review cases in accordance with internal AML/CFT policies and procedures, and MAS’ AML/CFT regulatory requirements.
- Review AML/CFT policies and procedures to ensure compliance with MAS’ regulatory requirements, and Head Office policies and procedures.
- Conduct ad hoc investigation and assist with the preparation and filing of STR.
- Advise on ah hoc queries relating to the Wealth Management Business (“WMB”) from regulatory perspective, on both AML/CFT and non-AML/CFT related matters.
- Review marketing materials and relevant risk assessments relating to WMB.
- Participate in process transformation projects and advise accordingly from regulatory perspective in relation to WMB.
- Proactively engage WMB staff to understand their processes and controls.
- Put in place training plan to ensure WMB staff are trained or refreshed on the AML and Regulatory Compliance policy and procedures.
- Perform periodic compliance reviews to ensure compliance with regulatory requirements according to Annual Compliance Plan.
- Assess the business impact on Private Banking due to regulation changes and advise on implementation.
- Conduct compliance reviews including Private Banking Sales Advisory Review, Continuing Professional Development Review, as well as due diligence for new product onboarding or variations of existing products.
- Prepare and submit regular and ad-hoc compliance reports/ updates to Head Office and Management with regards to local regulatory development / compliance matters / status on a periodic basis and upon request.
- Contribute to the Annual Compliance Plan for Financial Crime Compliance Department and Regulatory Compliance Department.
Requirements
- Candidates shall possess a recognised university degree and should preferably have not less than 4 years of relevant experience in private banking or wealth management industry.
- Well-grounded knowledge of the local regulatory framework and practices including those pertaining to AML/CFT, PB Code of Conduct and MAS Guidelines on PB Controls will be essential.
- Experience in KYC review requirements for Private Banking clients and have knowledge of PB Investment Suitability framework.
- Ability to work as a team player as well as independently with drive and initiative.
- Able to communicate effectively and take initiate and responsibility to work within the timeline and engage relevant stakeholders.
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