Senior Manager, Financial Crime Specialist

1 month ago

Singapore Westpac Banking Corporation Full time
Job Description
Role Overview:

Westpac Financial Crime Compliance (FCC) is a Second Line function that supports the Westpac Institutional Bank (WIB) Division in the Singapore Branch. As a key member of the FCC team, you will play a critical role in providing subject matter expert advice and oversight of Financial Crime Risks, namely, Anti Money Laundering (AML), Countering the Financing of Terrorism (CFT), Economic and Trade Sanctions, Anti-Bribery & Corruption (AB&C) and Tax Transparency across WIB business divisions in Singapore.

Key Responsibilities:

  • Support the Singapore Head of FCC in providing subject matter expert advice and oversight of Financial Crime Risks, including AML/CFT, Economic and Trade Sanctions, Anti-Bribery & Corruption, and Tax Transparency.
  • Maintain and monitor the effectiveness and enhancements to the Branch's Financial Crime programme and Group standards, including gaps in controls and requirements and identification of potential systematic issues and capabilities.
  • Assess and advise on due diligence matters for new and existing clients that are escalated by First Line or Operations/Support Functions.
  • Provide advice to businesses and project teams on new products/businesses in Singapore, including identification of potential risks and process control enhancements.
  • Assess and advise on new products and product risk assessment, ensuring that business product controls will meaningfully mitigate Financial Crime risks and uphold principles of sound risk management.
  • Maintain and update the Singapore Financial Crime related procedures to ensure they are in line with Group standards and applicable regulations in Singapore.
  • Review and take appropriate action on transaction monitoring or screening alerts that are escalated, including the preparation of STR reports to the STRO.
  • Support the Branch Enterprise-Wide Risk Assessment.
  • Undertake AML/CFT/Sanctions related compliance testing and reviews as set out in the applicable compliance monitoring plans.
  • Provide periodic reporting to senior management in Singapore and Group.
  • Maintain Financial Crime compliance training materials and conduct targeted training for relevant staff.
  • Drive and maintain a strong risk culture with a relentless focus on initiatives to strengthen the control environment.

Requirements:

As an experienced Financial Crime Compliance Specialist, you must have at least 8 years Financial Crime Compliance related experience, preferably in a Country MLRO team of a corporate/institutional bank, or banking regulator. You will likely have:

  • Good working knowledge of Singapore AML/CFT regulations and corporate/institutional banking products.
  • A practical, collaborative and commercial approach when working with stakeholders is important, whilst steadfast in upholding sound AML/CFT risk management standards.
  • Strength of character, good verbal and written communication skills are critical. The ideal personality is someone who has an eye for detail, yet able to think 'out of the box', consider wider implications and proffer viable solutions.
  • Confident to be able to influence and steer stakeholders in upholding sound standards of Financial Crime risk management. This conduct is essential, so that the FCC team is able to effectively perform its role as a Second Line function.
  • Demonstrate and promote 'One Westpac' team behaviours with the aim to facilitate greater internal communication and performance outcomes across lines of business.
  • Ability to balance working independently, whilst apprising the FCC Head on situations that would benefit from his/her pre-emptive or early intervention on emerging Financial Crime risks.
  • Confidence to exercise some reasonable discretion in specific tasks, whilst leveraging on the experience of the Head or other team members.

What's it like to work here?

When you join, you'll become part of the broader Westpac Group family - where we aim to be a friendly, switched-on team working for a single purpose - Creating Better Futures Together - it's what we do, who we are and why we come to work every day. As an equal opportunity employer, we're proud to have created a culture where people can be their best, in an environment that values diversity and flexibility. Within the Westpac Group, you will be part of the Institutional Banking division, where our vision is to be a high performing and innovative institutional bank, committed to enabling the growth of our global clients, our economy, and delivering sustainable shareholder returns.

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