JOB PURPOSE
- To focus on Anti-Money Laundering framework and perform Know Your Customer Due Diligence (AML/KYC)
- To manage the regulatory risks involved in both on-boarding new to bank client and regular review of existing clients with special attention to meeting the regulatory AML and KYC requirements.
- To support Team Lead, Business units and Support Units
- To carry out any other duties that may be assigned to you from time to time.
PRINCIPAL RESPONSIBILITIES
- Liaise with Front Office on client account opening/ periodic KYC.
- Review new account opening applications/ periodic KYC and ensure completeness, accuracy and sufficiency of KYC information and documentation are obtained in adherence to policies and procedures (P&P).
- Follow-up with Business Units on document deficiency (on-boarding and periodic KYC);
- Ensure evidence of each customer's identity and other relevant documents received are in order before on boarding of account.
- Perform name screening via AML System, Dow Jones and Factiva.
- Evaluate screening results and client profile to identify any true match adverse news and identify any increased risk factors involved pertaining to the adverse news (i.e. update AML System).
- Ensure that CDD activities comply with the AML/CFT regulations/policy.
- Seek relevant RMs inputs and provide clear elaboration and justification on the support of the KYC file's submission by Front Office (new account and periodic review of existing account).
- Perform customer static data maintenance and updates of signatures / account operating mandate; ensure supporting documents for static data and signature update are documented and filed in Branch filing system.
- Prepare and facilitate periodic reports for Management review (Document Deficiency, Periodic KYC Overdue, On-Boarding & Periodic Review Control List, Team Performance, CRS/FATCA, etc.).
- Perform Self-Inspections and Compliance Self-Evaluation
- Assist in P&P review and managing ad-hoc projects, audit inspections and remediation exercise.
- Assist in tracking of issues/ queries escalated by Front Office or any other Departments
KEY COMPETENCIES
- Diploma/Degree holder with relevant work experience of at least 6 years in areas of account opening and account review compliance
- Possess good understanding of business operations, control and risk management in areas related to account opening/ customer due diligence
- Well versed in the AML/CFT framework, OFAC and MAS regulation.
- Strong analytic skills, prudence and proactive with attention to details
- Strong time management and follow-up skills
- Good communication and interpersonal skills to effectively interact with colleagues and external parties of all levels.
- Possess basic working knowledge of Microsoft Excel.
