Job Description
Business Function
The Institutional Banking Group (IBG) provides corporate customers with a full range of commercial banking products and services, including cash management services, current accounts, time deposits, trade finance, working capital finance, term loans and foreign exchange. Through our continued commitment, DBS has cultivated long-standing relationships with its customers in the region that are based on account relationship management, service differentiation, product development and rigorous credit standards.
The position is part of the Anti-Money Laundering / Know Your Customer (AML/KYC) – Customer Onboarding and Review (CORE) team within the COO Office in IBG. The CORE team is a centralized specialist team established to scale independent, quality and effective management of money laundering / terrorist financing risks during onboarding and Customer Due Diligence (CDD) reviews.
Responsibilities
- Perform end to end CDD review for onboarding of Banks & Non-Bank FIs.
- Establish and corroborate the Source of Wealth (SOW) on the corporate entity and the beneficial owner
- Review and assess KYC Screening results, including sanctions, adverse media and other AML risk indicators
- Conduct Enhanced Due Diligence (EDD) and evaluate the AML/CFT/sanctions risk of prospective clients.
- Identify red flags, escalate material issues in a timely manner, and recommend risk mitigation measures where required.
- Provide advisory support to the Business Units regarding CDD documentation requirements and gaps.
- Proactively participate and contribute to process improvement to drive greater efficiency.
- Maintain a strong understanding of the Bank's AML policies, standards and procedures, and ensure effective application.
- Support team lead in tracking outstanding cases and ensuring timely and appropriate follow-up action.
Requirements
- Bachelor's degree with at least 3 - 5 years of relevant working experience in KYC/ CDD onboarding, preferably covering Banks, Non-Bank FI (e.g. Funds, Trusts, Asset Management companies)
- Experience in assessing Source of Wealth and complex ownership structures.
- Good verbal and written communications skills.
- Able to prioritise and multi-task in a dynamic environment.
- Strong attention to detail, analytical and problem-solving skills.
- Ability to work independently and as a team.
- Strong interpersonal skills and proactively delivering solutions.
- Strong knowledge of MAS 626 on CDD requirements.
- Familiar with screening tools (e.g. Dow Jones Factiva, World Check).
Location:
DBS Asia Central
Job:
Compliance
Schedule:
Regular
Employee Status:
Full time
