Compliance Officer, Account Opening & Periodic Review

  • Sector: LMA Asia Legal & Compliance
  • Contact: Ashley Ooi
  • Client: LMA
  • Location: Singapore
  • Salary: Negotiable
  • Expiry Date: 01 December 2022
  • Job Ref: BBBH404242_1667270533


  • Work as a team within the KYC unit to:
    • Ensure timely review of new accounts
    • Ensure zero or minimal past due recertification accounts at any point in time.
  • Provide advisory to Business on AML/KYC as well as on-boarding related issues.
  • Provide support to the larger compliance community, e.g. Monitoring and Surveillance / Suitability /FS Transversal team.
  • To assist the Head of KYC to supervise and provide guidance to the team members.
  • To conduct gap analysis of MAS & HKMA consultation papers, new regulations and/or synchronization/ alignment of local policies vis-à-vis HO.
  • To handle internal and external audits, monitor transaction irregularities and perform compliance testing to mid-office functions.
  • To engage with and advise on issues and matters relating to AML/CFT from both the KYC and investment suitability perspectives such as VC assessment and client's investment risk profiling.


  • Reviewing client profiles during account opening and recertification 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 such as HKMA and HO. If required, to conduct gap analysis.
  • Provide training of internal new or revised policies and procedures and external new regulations to relevant stakeholders such as CLM team.
  • Ensure the timeliness and accuracy of status reporting on new a/c onboarding and recertification tracking.
  • Perform any other ad-hoc duties assigned by supervisor.
  • 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

Company Reg No.: 201131609D, Licence No.: 11C4684, Reg No: R1871506