Compliance Specialist (KYC/CDD)
Summary
Review and manage client onboarding and ongoing due diligence for a bank, ensuring compliance with anti-money laundering and terrorist financing regulations under MAS guidelines.
Bangkok Bank Singapore is a full license bank operating in Singapore since 1957. We provide a wide range of wholesale and consumer banking and financial services to meet the diverse needs of our clients. We have an immediate vacancy for a suitably qualified individual to join us as:
COMPLIANCE SPECIALIST
The selected candidate will join the KYC/CDD Team in the Bank's Compliance Department. He/She is expected to demonstrate understanding of MAS regulations, Sanctions, investigation and Anti-Money Laundering regulations. The roles and responsibilities include the following:
- Review the on-boarding of new high-risk client and the retention of existing client relationships, to ensure compliance with the Bank’s policies and procedures, and with MAS 626 Notices and Guidelines, and to mitigate ML/TF/PF risks as well as reputational risk for the Bank.
- Review and assess the adequacy of the Source of Wealth narrative and corroboration submitted by the Front for new to bank and / or existing clients.
- Ensure all evidence is obtained and recorded as per procedures and prepare Compliance report accordingly.
- Collaborate and communicate with relevant Business Units to provide KYC/CDD advisory and all KYC/CDD, FATCA and CRS related matters.
- Ensure efficient identification and monitoring of suspicious activities and transactions as part of KYC review, and timely reporting of suspicious transactions to the authorities.
- Assist with daily/monthly AML reports, track completion of KYC reviews, historical transaction report, CDD tracker.
- Assist in conducting the KYC/CDD briefing / training sessions for Business Units.
- Undertake other ad hoc duties as and when required e.g. extract of documents for audit review, provide statistics.
- Maintain a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal typologies and developing trends.
Identify opportunities for process improvements and any other roles where the Bank is required of you.
The ideal candidate must meet the following requirements:
- Recognized Degree with minimum total work experience 3 years in the financial industry, which should include minimum of 2 years’ experience in AML, KYC/CDD.
- Sound knowledge of MAS regulations (MAS Notice 626, Guidelines to MAS Notice 626 and best practice papers), Sanctions, investigation and Anti-Money Laundering regulations.
- Excellent research and analytical skills; meticulous and the ability to deliver high-quality reports within deadlines.
- Good written, communication and interpersonal skills.
- Strong perseverance and diligence towards attaining goals and effective time management.
- Team player and proactive and able to take initiative.
- Relevant tertiary qualifications and Certification from ACAMS or ICA.