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Lulu Money (Singapore) Pte Ltd
The Compliance Officer / Money Laundering Reporting Officer (CO/MLRO) is responsible for the design, execution, and oversight of the Compliance Framework for Lulu Money (Singapore) Pte Ltd, with a primary focus on AML/CFT governance.
The CO/MLRO maintains an independent reporting line to the Board of Directors and a functional reporting line to the Regional Head of Compliance / Group Chief Compliance Officer for strategic guidance and departmental support.
In accordance with MAS Notice PSN01 (Prevention of Money Laundering and Countering the Financing of Terrorism) and its associated Guidelines, the CO/MLRO shall:
a. Serve as the principal point of contact and subject matter expert (SME) for all AML/CFT matters within the institution.
b. Maintain an expert understanding of Singapore's statutory and regulatory landscape, ensuring its practical application across all compliance and transaction monitoring procedures.
c. Ensure the Company's continuous adherence to all applicable legal and regulatory requirements, specifically the Payment Services Act 2019.
d. Oversee compliance with MAS Notice PSN01, MAS Regulations issued under Section 27A of the MAS Act, and all other relevant directives.
e. Design, implement, and periodically refresh a robust AML/CFT Compliance and Sanctions Programme.
f. Develop and maintain internal policies, procedures, and systems to ensure branch operations remain fully compliant with evolving regulatory standards.
g. Execute comprehensive compliance investigations to identify, assess, and mitigate operational risks.
h. Manage all AML/CFT risks, including the assessment of qualitative and non-quantifiable risk factors.
i. Proactively communicate regulatory updates to staff and ensure the timely integration of changes into workflows.
j. Conduct formal training programmes to ensure all personnel understand PSN01 requirements, internal controls, and their individual AML/CFT obligations.
k. Act as the official liaison with Regulatory Authorities, the Suspicious Transaction Reporting Office (STRO), and the Commercial Affairs Department (CAD).
l. Audit and verify that systems/procedures adhere to PSN01, specifically regarding:
Customer Due Diligence (CDD) and Identification
Record keeping and data retention
Regulatory reporting and suspicion recognition
Continuous AML/CFT staff training
Compliance reviews and internal controls
m. Oversee the functionality and calibration of AML monitoring systems.
n. Investigate system-generated alerts using automated compliance investigation protocols and established risk scenarios.
o. Take decisive action and provide direction in cases of suspected Money Laundering or Terrorism Financing (ML/TF).
p. Ensure the prompt and confidential filing of Suspicious Transaction Reports (STRs) to the STRO.
q. Manage all regulatory queries, production orders, and search requests from competent authorities.
r. Ensure all investigations are documented with high-quality evidence and resolved within prescribed timelines.
s. Collaborate with the AML System Administrator to troubleshoot and optimize system performance.
t. Generate and analyze daily/weekly/monthly compliance reports to provide data-driven insights for Senior Management.
u. Facilitate internal and external audits, including MAS inspections and STRO examinations.
v. Deliver periodic reports to the Board of Directors regarding the Company's compliance health and regulatory standing.
w. Advise Senior Management on the effectiveness of AML/CFT controls and the results of risk assessments.
x. Provide at least an annual report on key risk management issues, including the status of remedial actions from past audits or inspections.
3.1 Skills
Strong investigative, analytical, and forensic reporting capabilities.
High level of numerical literacy and data interpretation skills.
Excellent command of written and verbal communication.
Resilience and the ability to prioritize effectively in a high-pressure environment.
Advanced proficiency in office productivity software and AML systems.
3.2 Experience
A minimum of 3 years of specialized experience in a Compliance/AML role within a regulated financial institution (PS Act experience preferred).
3.3 Training
Comprehensive training will be provided, covering:
Corporate induction and advanced AML/CFT modules.
Proprietary AML and YOM System training.
Best practices in STR drafting and filing.
Continuous professional development through on-the-job mentorship.
3.4 Education and Qualifications
Minimum of a Bachelor's Degree in Finance, Law, Business, or a related field.
3.5 Language
Full professional fluency in written and spoken English.
4.1 Performance Assessment
Adherence to professional conduct standards and ethical guidelines.
Accuracy and timeliness of AML system alert management and investigations.
Quality and punctuality of regulatory and internal reporting.
Demonstrated capability in risk assessment and mitigation.
Formal semi-annual and annual performance appraisals.
4.2 Key Performance Indicators (KPIs)
Governance: Effectiveness in fostering a culture of compliance and timely escalation of breaches.
Reporting: Precision and quality of STRs filed with the STRO and reports submitted to the Board.
Audit: Satisfactory outcomes in regulatory inspections and internal/external audits.
Competencies: Proficiency in interpreting legal frameworks and deploying effective AML/CFT rules/scenarios.
Consistent high performance offers opportunities for upward mobility within the Group's global compliance structure.
Mandatory Certification: Per internal policy, the successful candidate is required to obtain CAMS (Certified Anti-Money Laundering Specialist) certification within one (1) year of appointment.
Any employee found in violation of Company policies, regulatory requirements, or the Code of Conduct may be subject to disciplinary action, which may include summary dismissal and reporting to relevant regulatory bodies.
If interested, please submit your application, including your resume and expected salary, to and .
We regret that only shortlisted candidates will be notified.
By submitting your application, you consent to the collection, use and disclosure of your personal data by our organisation and its authorised representatives for the purposes of assessing your suitability for employment in accordance with applicable data protection laws.
Job ID: 142711449
