AML Risk – Source of Wealth (SOW) Specialist
Summary
Reviews and validates wealth sources for private banking clients to ensure compliance with anti-money laundering regulations, analyzing documents and collaborating with sales teams.
AML Risk – Source of Wealth (SOW) Specialist
Location: Singapore
Type: Full-time
Department: BFSI
Job Summary
This position is part of the Anti-Money Laundering Risk Management (AML Risk) function, within the Account Management Team (AMT) under Private Wealth Management (PWM).
Currently, we are looking for candidates to support the following workstreams:
- Account Onboarding supervisory review – Case Manager
- Source of Wealth Periodic reviews - Team Lead / Checker / Case Manager
Responsibilities
- Review and analyze account profiles to identify gaps in SOW information and corroboration
- Analyze collected information and perform reasonableness and plausibility checks
- Work effectively with Sales team to enhance the account profile and SOW corroboration
- Provide guidance to Sales team and perform desktop research to assist with benchmark analysis or account profile updates as needed
- Review adverse findings, high AML risk factors/sanctions exposures, engage with Sales and Compliance team to resolve issues as needed
- Prepare SOW/AML risk assessment summaries, identify and present material findings or risk concerns to AML Risk Supervisors for further action
- Ensure name screenings, SOW/SOF data, required clearance and approval records as well as supporting documentation are properly retained
Eligibility Requirements
- Experience in source of wealth or AML reviews in private banking, top tier banks / financial institutions / risk advisory firms
- Strong understanding of AML/CFT regulations or risk assessment frameworks
- Preferably with MI and project management experience for Team Lead role
- 3+ years of work experience in relevant work experience
- Strong knowledge of AML/SOW review for various entity types (personal holding companies, trusts, SPVs, limited partnerships, funds, foundations)
- Strong research capability, analytical and organizational skills
- Strong communication skills to effectively and clearly instruct/ advise Sales team
- Excellent verbal and writing skills. Able to consolidate Chinese and English information into English summary precisely
- High attention to details and numbers
- Able to identify and articulate corroboration issues &/or red flags
- Problem-solver and able to manage potentially difficult discussions
- Ability to adapt and work efficiently in a fast-paced environment
- Strong team-player and able to work independently with minimal supervision Self-motivated and enthusiastic.