Role Summary:
This role is with a leading investment bank in Singapore. The Know Your Customer (KYC) Controls team has a regional exposure covering the controls against money laundering and terrorist financing for different entities of the company in the region. The requirements for compliance are conferred by regulations and guidelines in different countries.
Team KYC (Wealth)- Primarily to work on wealth clients and the role can expand to institutional clients in the future.
Key Responsibilities:
- The candidate either performs the on-boarding process or periodic review for Wealth Management clients, counterparties, and other parties subject to rolling review
- Ability to perform hands-on tasks related to KYC and documents - update the system with relevant details, perform due diligence, validate and upload documents
- Ensure client information and documents are validated/updated correctly and timely in the systems for seamless feed to other internal systems and reporting (internal, regulatory, etc.)
- Ensure client classification is applied in accordance with the prevailing rules and regulations in corresponding jurisdictions
- Continuously work with other stakeholders such as Compliance, Legal, Sales, Business Management on completing KYC and client information updates
- Identify system/process enhancement focusing on controls and efficiency and work with the IT teams to implement
Eligibility Requirements:
- Well versed with the KYC requirements as suggested by MAS and other major Asia regulators
- Ability to understand different risk types associated with clients (individuals, private companies, corporations, etc.)
- Strong skills in documentation validation
- Flexible and be quick to adopt the change in policies, systems, and requirements
- Knowledge and experience of Robotics (eg. UIPath), Data Visualization Tool (eg. Power BI), and analytics tool (eg. Alteryx) is a plus
- Relevant experience in compliance, risk management, or operations with an investment bank or financial services firm for wealth management business
- Ability to work with minimal supervision, oversight and with cross-region teams
- All KYC breaches, near misses, or risk events, will be managed and escalated where necessary
- The individual will be required to deliver updates of KYC procedures, understand the policy and implement the operations change and procedures required to meet the policy requirement
- Able to handle reasoning and justification on KYC matters to AML compliance and legal teams
- Fact-based and ability to understand the risk involved and highlight the same across levels
Company Reg No.: 201131609D | Licence No.: 11C4684 | EA Reg no: R1980997
