Assistant Vice President, Compliance Officer - Wealth Management
Position Purpose
- Assist the KYC manager in the management of the KYC team.
- Work as a team within the KYC unit to:
- Ensure timely review of new accounts
- Ensure zero or minimal past due re-certification accounts at any point in time.
- Provide advisory to Business on AML related issues.
- Provide support to the larger compliance community, e.g. Monitoring and Surveillance / Suitability /Transversal team.
- Assist KYC Manager in managing the KPIs for new account opening and reviews as and when required.
- Assist KYC Manager in guiding compliance officers in the team as and when required.
Responsibilities
- Assist the Head of KYC to manage the KYC team with regard to BAU matters including the handling of escalations from the team.
- Assist the Head of KYC in various projects and initiatives related to KYC and manage stakeholders.
- Reviewing client profiles during account opening and re-certification phase to ensure conformity to internal and regulatory requirements on AML/CFT/CDD standards, producing client risk assessments, due diligence analysis and assigning an appropriate risk rating.
- Provide advisory support to the business with regard to resolving newly identified adverse media, link to sanction countries related issues, identifying potential Politically Exposed Persons etc.
- Assisting with the preparation, presentation of existing client relationship to a local control committee with the objective of obtaining business & compliance management approval to maintain the relationship with the client
- Review client's transactions for the period under review and flag out any suspicious transactions with regard to unknown 3rd parties; commercial nature etc.
- Perform risk assessment and make decisions with regards to unblocking of accounts.
- Conducting investigations and filing suspicious transaction reports (STRs) as appropriate.
- Provide feedback to changes to internal KYC procedures.
- Keeping abreast of changes in the domestic regulatory requirements (MAS) and be aware of the different obligations from other jurisdictions
- Provide support to Monitoring & Surveillance team from time to time and on projects pursuant to management requests or necessitated by events such as local & global internal audits and periodic inspections by the regulatory authorities.
- There will be opportunities to participate in a range of developmental projects, mainly focusing on procedures development, process improvement initiatives & enhancing existing control
Specific Qualifications (if required)
- Candidate with 7 years of relevant working experiences, preferably in Wealth Management or Private Banking
- Degree qualified
- MS Excel; word & PowerPoint
- Microsoft Outlook
- Knowledge in the use of Factiva
Company Reg No.: 201131609D | License No.: 11C4684 | EA Reg no: R1660533
