The Compliance Manager will assist the Board of Directors and CEO in identifying the compliance risks facing the Firm and in designing and implementing policies, procedures, systems and controls that will enable the Firm to comply with legislation (including anti-money laundering legislation) applicable to its financial services. The Compliance Manager will set up compliance policies and procedures that remain relevant via periodic reviews and oversee the firm's day-day operations for compliance with its policies, procedures, systems & controls.
Responsibilities include:
- Testing and monitoring compliance with such policies and procedures at regular intervals and on an ongoing basis, as appropriate
- Investigate any circumventions or breaches of internal policies or applicable regulations
- Keep the Board of Directors and senior management up to date on changes in relevant regulation & changes thereof
- Liaise with MAS and checking that all regulatory returns & ad hoc notifications have been submitted on a timely basis.
- Provide a contact point and responding to the regulator in the event of its inspections, investigations, enquiries and surveys; and
- Communicate KCPL's state of compliance to senior management and where necessary, KCPL's Board from a governance point of view
- Establish, Conduct & Maintain Compliance Training Programmes to KCPL and its employee
- Promote Compliance culture and risk awareness across different levels of staff and use of internal whistleblower mechanisms and to promote an open environment for raising concerns.
- Assist employees, senior management and the Board in understanding KCPL's compliance obligations
- Review KCPL's marketing materials
- Assist the Board of Directors and senior management in identifying the AML risks facing the Firm and in designing and implementing policies, procedures, systems and controls that will enable the Firm to comply with MAS Regulatory Regime Combating Anti-Money Laundering / Countering the Financing of Terrorism
- Conduct the Enterprise-wide risk assessment (EWRA) as required by the AML Notice and Guidelines of MAS and update the same on a periodic basis
- Conduct Client onboarding & periodic review procedures for ongoing Customer Due Diligence
- Conduct transaction monitoring of clients to ensure that the transactions are consistent
- Acting as the point of contact to receive internal Suspicious Transaction Reports (STRs) from Employees; taking appropriate action if required, making an external STR to the Suspicious Transactions Reporting Office (STRO) as per AML Notice and Guidelines
- Receiving & acting upon any relevant findings, recommendations, guidance, directives, resolutions, sanctions, notices or other conclusions by the Monetary Authority of Singapore, United Nations Security Council etc.
- Establishing and maintaining AML training programmes: (i) Induction AML Training and (ii) Refresher AML Training
