Compliance Officer

Mission

The Group Compliance function services the business units as an advisor in regulatory and reputational matters. This involves taking pro-active and preventative measures in advising the business lines as well as monitoring adherence to all regulatory requirements and Compliance-related Group and Business-Line policies and procedures to ensure timely and proper compliance of the same.

Context of the Job

Group Compliance is a centralised function comprising a global network of compliance professionals within the bank's business lines with an independent reporting line to Head of Compliance Singapore and (ultimately) to the Global Head of Compliance in London.

The Group Compliance function within the bank is the independent oversight on behalf of senior management of those core processes and related policies and procedures that seek to ensure the bank is in conformity with industry specific laws and regulations in letter and spirit, thereby maintaining the bank's reputation. This includes sanctions and client acceptance and anti-money laundering, duty of care and investor protection, the protection of clients against the position of the bank (e.g. personal account dealing, conflict of interests, Chinese walls), banking secrecy, and core values and business principles (e.g. codes of conduct).

The Business Compliance function services the business units as an advisor in regulatory and reputational matters.This involves taking pro-active and preventive measures in advising the business as well as monitoring adherence to all regulatory requirements and Compliance related Group and business lines policies and procedures to ensure timely and proper compliance of the same.

Key Duties and Responsibilities

• Assist, advise and ensure timely compliance review on new client onboardings and assessment of client periodic reviews and review of any escalated screening hits.
• Keep abreast of new regulatory developments and review regulatory requirements, identifying any potential regulatory risk, providing recommendations where necessary. Communicate and work with business team to implement processes to meet regulatory requirements. Assess and perform gap analysis.
• Develop and customise training materials and conduct compliance Induction and compliance ongoing training e.g. new joiner, refresher training, AML/CFT training. Track attendance and report on exceptions.
• Local and global regulatory policies implementation, advice and ongoing review e.g. Related Party Transaction, Individual Accountability and Conduct, Personal Account Dealing, Outside Business Activity and Gifts and Entertainment. Participation in Head Office driven projects and exercises.
• Lead Enterprise-Wide Risk Assessments on AML/CFT and incorporate regulatory developments, data collection and driving analysis, formulating and implementing solutions.
• Review regulatory submissions to MAS and SGX e.g. Form 28, Data Leakage reports, Misconduct reporting, MAS surveys and questionnaires etc.
• Maintenance of local alert list.
• Preparation and filing of suspicious transactions report.
• Perform compliance control testing.
• Preparation of management reporting to Head Office, Local and Regional Committees.
• Handle internal and external auditors and regulators requests and queries.
• Assist to provide advice on licensing and licensed representatives obligation and handle any queries.
• Assist Compliance team to perform other ad doc duties, where necessary.

Required Knowledge and Experience

• At least 6-7 years of compliance knowledge and experience relevant to banking, capital markets activities, with strong knowledge of the MAS Notice 626 and Guidelines, Banking Act and Regulations as well as Securities and Futures Act and Regulations.
• Knowledge of the organisation (including the international organisation) of the bank, the governance model including responsibilities, powers and liabilities of management (including senior management), the products that the bank markets, the bank's systems used to record transactions and customer data, the organisational and responsibility principles of the Three Lines of Defence model used by the bank and the role that Compliance plays in this setting. In depth and up-to-date knowledge of the products and services of the company entity for which the position owner is active.
• Relevant industry qualifications (if applicable)