DBS Bank Limited | VP
1 week ago
VP / AVP, KYC & Account Opening Specialist, Private Banking, Consumer Banking Group
Business Function
DBS' Private Banking offers a one-stop, full-service touch-point for total banking requirements and provides the highest level of personalized banking. We have a team of dedicated, experienced investment advisors who identify opportunities in the various asset classes and employ the best strategies and product vehicles to cater to each client's needs. Coupled with partnerships within the DBS network and with global institutions, we strive to build long-term relationships with our Private Banking clients in Asia by providing them with high quality, timely and extensive wealth management, investment and financial solutions.
The KYC/Account Opening Specialist ensures that all new client accounts comply with Know Your Customer (KYC), Anti-Money Laundering (AML), and other regulatory requirements. You will work closely with the Front Office, compliance and operations to provide a smooth onboarding process while safeguarding the bank from financial and reputational risks.
Responsibilities:
KYC and Compliance:
Facilitate the end-to-end client onboarding process, from prospect onboarding advisory to account opening
Assess client / case profile and guide Front Office to obtain the required corroboration and information
Partner RM in KYC write-up, identify areas of clarifications and ensure adequate follow-up with clients and closure prior to KYC submission
Conduct joint discussions with Front Office and KYC team to facilitate case decisions
Perform risk assessments
Assist in documentation related reworks to facilitate the account opening process
Assist in periodic reviews of client accounts to maintain ongoing compliance.
Keep updated on KYC/AML regulations and ensure adherence to local and international laws.
Collaboration and Communication:
Share best KYC practices through huddles with various market regions and teams to improve quality
Improve collaboration between units to facilitate the account opening process
Liaise with Front Office, compliance teams, and other stakeholders to resolve gaps or discrepancies.
Provide advice and guidance to internal teams on regulatory requirements and best practices.
Data Management and Reporting:
Analyse data to track progress and efficiency of onboarding progress, risk trends, and KYC issues
Process Improvement:
Identify inefficiencies in the onboarding process and propose enhancements if any
Contribute to the development and implementation of KYC policies, procedures, and systems.
Requirements:
Bachelor's degree in Finance, Business, Law, or a related field
At least 7-10 years of experience in KYC, AML and/or client onboarding in private banking or financial services.
Strong knowledge of regulatory frameworks (e.g., FATCA, CRS, MAS guidelines, EU AML directives).
Certifications in AML such as Certified Anti Money Laundering Specialist (CAMS) or International Association Diploma in Anti Money Laundering would be an advantage.
Detail-oriented with excellent analytical and problem-solving skills.
Strong communication and interpersonal skills to collaborate effectively with Front Office and diverse stakeholders
Familiarity with KYC software, databases, and banking systems. Proficient in Excel and Tableau preferred
Apply Now
We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognises your achievements.
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