The VP, GWM Compliance is a crucial Second Line of Defence (LOD2) role. This position is responsible for advising, overseeing, challenging, and monitoring the GWM business unit's adherence to all regulatory and financial crime requirements. The successful candidate will design and maintain the compliance framework, provide expert guidance to the Private Wealth business, and serve as the independent control function ensuring effective risk management.
Job Responsibilities:
- Provide expert regulatory advice and interpret MAS expectations to support GWM in designing effective investment suitability controls at transaction and portfolio levels.
- Monitor and challenge the First Line's controls on client risk profiling, pre- and post-trade surveillance, and sales practices.
- Act as Compliance SME to advise GWM on Client Advisor Competency Standards (CACS), CPD, and Sustainable Finance Technical Skills and Competencies (SF TSCs).
- Review, investigate, and challenge the handling of customer complaints, ensuring alignment with MAS Fair Dealing Outcomes.
- Advise on ESG and sustainability integration, assessing controls against ABS Sustainable Private Banking and Wealth Management Guidelines.
- Serve as the Second Line approver/escalation point for complex and high-risk client onboarding and periodic reviews.
- Challenge First Line AML/CFT risk classification, Source of Wealth due diligence, and enhanced CDD standards (e.g., PEPs, complex structures).
- Provide independent advisory support on suspicious activity investigations and STR assessments.
- Advise on AML/CFT, sanctions, and Anti-Bribery & Corruption requirements applicable to GWM activities.
- Support MAS inspections, audits, regulatory engagements, and manage remediation of audit and regulatory findings.
- Contribute to Compliance Risk Assessments and prepare independent compliance risk reports for senior management and governance committees.
Job Requirements :
- General degree holder, preferably in Law, Business, or Finance, preferably CAMS certified, ICA Diploma holders or Wealth Management Institute related certifications
- Minimum of 7-10 years of relevant Compliance experience. Demonstrable experience in a Private Wealth/Wealth Management Compliance role. Regional Asia Private Wealth Compliance experience will be advantageous.
- Deep expertise in the application of MAS regulatory requirements specific to the Private Wealth operating model. In-depth working knowledge of the CACS/CPD framework, ABS Sustainable Finance Guidelines, and the MAS/ACIP Best Practices on Source of Wealth Due Diligence.
- Articulate, analytical, problem-solving, and good policy writing ability. Proven ability to provide commercial, solutions-oriented advice to high-performing business stakeholders (Client Advisors/Desk Heads) in a fast-paced Private Wealth environment.
- Organizational understanding and a strong team player.
- Must demonstrate strong stakeholder management skills, capable of influencing senior business and control function leaders.
*Only shortlisted candidates will be notified.
