This role are only suitable for candidates who are in the PRIVATE BANKING/ WEALTH MANAGEMENT SPACE.
The CDD Business Advisory and Support (CDD-BAS) unit supports the Wealth Management (WM) business on Client Due Diligence (CDD) related matters including:
- CDD documentation preparation required for client onboarding and periodic reviews
- Liaising with Business and Compliance units to address any gaps in the CDD reviews
- Monitoring of client accounts (including onboarding conditions, adverse news, documentation validity) and initiate trigger reviews
- Conduct AML/CFT related in-house surveillance reviews along with Business and Compliance
- Preparation of MIS (e.g. CDD statistics report)
- Initiation and implementation of process improvement and digital transformation projects to streamline current process for better efficiency.
Job Purpose
- Assist HoD in day-to-day CDD onboarding process and timely periodic, event trigger & ad hoc reviews including reviewing client documentation and completeness of KYC package prior submission for approval
- Acting as the liaison officer between RMs/Wealth Advisors and other stakeholders (Compliance, Ops, HO CDD teams) on CDD matters
- Ensure that documents submitted for onboarding / periodic reviews / trigger reviews are in line with Bank's requirements
- Assist in implementation of new processes or initiatives triggered by regulatory developments / changes in the business models
Job Content
1. CDD Advisory
MainTask
- Exercise judgement call in CDD reviews (i.e., proposing risk-based approach / mitigants to close gaps)
- Act as business advisor on day-to-day CDD matters, providing the business with guidance and advice on CDD requirements (internal policies and regulations)
- Proactively working with Front Office to resolve CDD issues and escalate to Head of CDD Business Advisory and Support and local stakeholders as required.
- Lead Client Acceptance and Review Committee CARC presentation for onboarding / periodic / trigger reviews
- Conduct CDD related training where necessary
2. CDD Documentation-Preparation and Client Monitoring
Main Tasks
- Works closely with Front office (RMs, Wealth Advisors, HO CDD team) and external consultants (where necessary) to obtain all necessary supporting documents for completion of CDD review
- Prepare CDD review pack (including CDD write up / assessment) where necessary
- Undertakes screening activities to ensure Sanctions, PEP and Adverse Media screenings are performed in accordance with policy and regulations
- Ensuring all documents are complete and gaps adequately addressed prior submission for approval
- Monitors documentation deferrals and fulfillment of CARC conditions
3. Audit & Reviews
Main Task
- Assist HoD to address or follow up on audit queries from internal / external auditors
- Raising any concerns or observations to HoD.
- Assist HoD to close out audit observations / findings on a timely basis
4. Process Improvement and Project Management
Main Task
- Assist HoD with new and ongoing projects rollouts including UAT and co-ordinate with operations, IT, operations risk, compliance, group units as required
- Assist HoD to update policies and procedures, where required.
- Assist in management of outsourcing activities (i.e., conducting sampling checks, participate in periodic service review meetings etc.).
5. Ad-Hoc Task
- Dept meeting minutes to document discussion points and follow up actions
- Assist in preparation of training decks, where necessary.
Requirement:-
- Min a Poly/ Bachelor's degree from a reputable university.
- Have professional certifications in Compliance, AML such as CAMS is desirable.
- Min 5 years of banking industry experience in Private Banking / Wealth Management KYC / CDD or client onboarding (Audit, Risk, AML may also be areas of experience).
- In depth knowledge of CDD / Compliance / AML procedures and standards in the Private Banking / Wealth Management space.
- Proficient in MAS regulations and guidelines relating to Anti Money Laundering (AML) and Counter Financing of Terrorism (CFT).
- Strong analytical skills with high attention to detail and accuracy.
- Prior experience of adhering to controls and compliance standards is desirable.
- Self-motivated and committed. Able to work independently.
- Strong verbal, written, presentation and communication skills.
- Adaptable to fast changing environment and able to multitask.
- Problem identification and solving skills.
.Note that salary commensurate with relevant experience.
