Periodic Review Compliance Officer (12 Months Contract + 1 mth completion bonus, Renewable Based on BAU)
General Description
The Periodic Review Compliance Officer (PR CO) will be part of the CRO division, which develops and oversees the global framework for risk identification, control, reporting, and management within the bank's risk tolerance. The division aims for sustainable growth of the franchise and expects all members to adhere to the principles and expectations outlined in the CRO Business Organisation Manual.
Compliance is a key function within the Risk, Legal and Compliance Division, supporting Senior Management in ensuring adherence to both external and internal regulations. The goal is to actively manage operational, regulatory, and reputational risks.
The PR CO will be responsible for Compliance Singapore's review and approval of all High and Highest existing client relationships, portfolios, and accounts booked in the bank.
This position is with a top-tier Private Bank, located in the CBD.
Key Features of the Position
- Support the CRO and Senior Management of BJBS Branch in ensuring compliance with external and internal regulations, and actively manage operational, regulatory, and reputational risks.
- Serve as part of the Periodic Review team of Compliance Officers supporting the bank branch.
- Build strong relationships with key stakeholders, including the Front Office, Client Documentation Services (CDS), KYC/AML Onboarding, AML Investigations, and Risk Management teams.
- Support the Head of AML/KYC Singapore and the Head of Periodic Review in managing Compliance's review of existing client relationships, portfolios, and accounts, as well as new/incremental KYC/CDD risks identified during the client's relationship with the bank.
- Collaborate with and guide local and overseas Relationship Managers (e.g., Hong Kong, Thailand, Dubai) in their periodic review submissions, including KYC profile changes, account structure changes, and newly identified adverse news and risk elements.
- Assist and support ad-hoc KYC/CDD related matters and enquiries from regulators, auditors (internal and external), and Head Office.
- Review client profiles for the relevant periodic review period to ensure conformity to internal requirements and the latest regulatory requirements on AML/CFT/CDD standards. Ensure completeness, consistency, and accuracy of KYC information, adequacy of source of wealth (SOW) narrative, and reasonableness of plausibility assessment.
- Perform client risk assessments and due diligence analysis, focusing on High/Highest risk profiles.
- Assess and address incremental AML/KYC risks noted during periodic review, and escalate incremental risks identified in client profiles.
- Review and assess name screenings (Google, World Check, Factiva) to facilitate periodic review.
- Perform transaction reviews for all transactions occurring during the relevant periodic review period, ensuring transactional activities align with the client's risk profile and investigating any suspicious transactions.
- Participate in projects, process improvements, and discussions related to KYC/CDD.
- Demonstrate appropriate values and behaviours, including honesty and integrity, due care and diligence, fair dealing, management of conflicts of interest, competence and continuous development, adequate risk management, and compliance with applicable laws and regulations.
- Ensure KYC/CDD issues are properly identified, assessed, and documented.
- Escalate in a timely manner when KYC/CDD measures cannot be completed, especially where suspicious activities or conduct are identified.
Skills Requirements Of The Position
- Ability to manage internal and external stakeholders.
- Ability to set the right priorities and work on multiple assignments simultaneously.
- Strong sense of responsibility and impeccable integrity.
- Strong analytical skills and detail-oriented.
- Excellent command of spoken and written English; proficiency in other Asian languages is an advantage.
- At least 3-5 years experience in KYC On-Boarding/Periodic Review and/or AML roles in Private Banking/Wealth Management.
- Good degree and understanding of the Private Banking and Wealth Management industry.
- Strong knowledge of MAS 626 Notice & Guidelines.
- Experience managing AML/CFT-related regulatory inspections, external and/or internal audits, and strategic projects.
- Proficient in MS Word, Excel, and PowerPoint.
Reporting Line
- Reports to Head of Periodic Review.
Application Instructions
If you are interested, please send your updated CV to [Confidential Information] or apply via the link.
EA License: R24121283
Only shortlisted candidates will be notified.
