Trust Administration Professional
5 days ago
OCBC Bank is seeking a Trust Administration Professional to join our team.
About the RoleThe successful candidate will be responsible for managing the day-to-day administration of trusts, including onboarding and documentation review, and ensuring compliance with regulatory requirements.
- Manage the day-to-day administration of trusts;
- Review and approve all trust onboarding documentation;
- Ensure compliance with regulatory requirements (AML);
- Assist with bank account opening setup, transfer in of assets, and ancillary documentation;
- Complete the new business checklist and assessment for trust relationship manager and team head sign-off;
- Interact with front office/wealth advisory team to obtain documents;
- Supervise and manage output of junior staff as necessary;
- Maintain relevant spreadsheets to track and record on the businesses onboarded;
- Track due reviews and produce management reports as necessary;
The incumbent will also support the trust company in trust product matters for private banking clients who have set up a trust structure for succession planning purposes.
- Work with the review team on assessment of source of wealth background of clients, corroborate the declared net worth independently, and assess supporting documentation in line with regulatory requirements;
- Review name screenings in accordance with bank standards; Conduct assessment on potential hits, following compliance guidance and procedures;
- Assist with other departmental projects and specific ad-hoc tasks as necessary;
- Contribute to the implementation and design of the trust product, considering regulatory, risk, and business issues.
Act in accordance with core values (Lasting Value, Integrity, Forward-looking, Respect, Responsibility) of the organisation, demonstrating the highest standards of business and personal conduct.
To succeed in this role, you will require:
- A min degree holder with 5 to 10 years in banking/financial industry; previous trust knowledge will be an advantage;
- Experience in onboarding and documentation review, knowledge of banking KYC/AML/Compliance/Risk procedures will also be an advantage;
- Good communication and interpersonal skills;
- Strong leadership skills, initiative, and competency;
- Team player;
- Organised, detailed, and with good risk awareness.
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