Seeking for a Compliance Specialist to join its Compliance Department. This role plays a vital part in safeguarding the bank's integrity by ensuring robust transaction monitoring, compliance with AML/CFT regulations, and timely detection of suspicious activities.
Key Responsibilities
As a Compliance Specialist (Transaction Monitoring), you will be responsible for:
Transaction Monitoring & Investigations
- Conduct second-level review and analysis of trade transactions, remittances (including cheques/cash), to detect potential Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) concerns.
- Provide approval for escalations and document risk assessments and mitigation strategies supporting advisory decisions.
- Review and investigate post-transaction monitoring alerts generated by the Transaction Monitoring System, performing post-transaction analysis where necessary.
Suspicious Activity Detection & Reporting
- Ensure effective and timely identification of suspicious activities and transactions.
- Prepare and report suspicious transaction reportsto the relevant authorities in compliance with regulations.
Compliance Advisory & Coordination
- Collaborate with Business Units and Operations to provide transaction monitoring advisory and guidance.
- Assist in updating internal local lists, high-risk country lists, and reviewing watchlist reports.
- Support Business Units/Operations with transaction escalations.
Reporting & Process Improvement
- Assist with daily and monthly AML report checks.
- Extract and compile documents for audit reviews.
- Provide statistics and analytical insights to strengthen compliance monitoring.
- Maintain a current understanding of AML regulations, trade-based money laundering red flags, sanctions, and best practice trends.
- Identify opportunities to improve monitoring processes and compliance frameworks.
Ad Hoc Duties
- Undertake KYC reviews and other compliance-related assignments as required.
Job Requirements
Educational Qualifications:
- Recognized degree in Law, Accounting, Finance, Economics, or related fields.
Experience:
- Minimum 3-5 years of total work experience in the financial industry.
- At least 3 years in AML/CFT Compliance with a focus on Transaction Monitoring and Investigations.
- Knowledge of Trade Enhanced Customer Due Diligence (Trade ECDD) and other transaction due diligence processes.
Technical Knowledge:
- Strong understanding of financial products: Trade Products, Remittances, Cheques, GIRO.
- In-depth knowledge of MAS regulations (MAS Notice 626, Guidelines to MAS Notice 626, best practice papers).
- Strong knowledge of sanctions and AML/CFT compliance frameworks.
Skills & Competencies:
- Strong analytical skills with meticulous attention to detail.
- Investigative mindset with the ability to detect anomalies and escalate issues.
- Strong written communication skills to document findings, recommendations, and compliance comments.
- Good interpersonal skills with the ability to communicate clearly across teams.
- Proactive, hands-on, independent worker with ability to manage multiple tasks.
- Team player with initiative and problem-solving capability.
Certifications (Preferred):
- ACAMS (Association of Certified Anti-Money Laundering Specialists)
- ICA (International Compliance Association)
Interested candidates are encouraged to submit their resumes along with a cover letter outlining their relevant experience and achievements to [Confidential Information] or click apply now!
..We regret to inform that only shortlisted candidates would be notified..
Talentvis Singapore Pte Ltd | EA License No: 04C3537
EA Personnel Name: Reggie Tiongson | EA Personnel No: R1324767
