Compliance Finance Officer

1 week ago

Singapore ARAB BANKING CORPORATION (B.S.C) SINGAPORE BRANCH Full time

**Job Purpose**

Compliance
- To assist Head of Compliance to manage a robust Compliance function in line with the Group Compliance Policy which provides assurance to the Board and senior management.
- Support Group Compliance and Unit Branch in collaborating with relevant businesses (predominantly corporate and institutional) on Compliance and financial crime issues across client and geographic segments and client coverage models.
- Act as back up to Head of Compliance & MLRO, Asia during his/her leave/absence.

Finance
- To assist the Head of Finance and Finance department on daily reporting including computing and monitor regulatory compliance ratios and requirements.
- Assist in MAS reporting.

Act as a Finance back up for expenses payment and entries.

**Main Responsibilities**:
Compliance
- Assist the Head of Compliance to manage a Compliance function covering bank wide compliance risks for the Branch as mentioned in Section 1 above.
- Assist the Singapore MLRO in achieving the successful clearing of the SIRON KYC and Safewatch batch alerts and also assist in managing the day-to-day alerts by undertaking the following activities:

- Alert disposition (investigation) to rule out false positive hits
- CDD/KYC review for alerts
- Gathering necessary information from different stakeholders
- Conduct open searches to rule out alerts
- Reporting daily progress reports
- Escalating true matches and suspicious activities to MLRO
- Aside from the above, primary role is also to assist in financial crime/FATCA & CRS /Data Protection unit governance initiatives, such as:

- AML systems implementation,
- partake in committee meetings preparation,
- preparation for reporting to Group Compliance
- limited compliance testing
- Data Protection Risk Assessment and Annual Plan initiatives

Finance
- Regulatory financial compliance - Asset Maintenance Ratio (AMR), Minimum Liquid Asset (MLA) and Minimum Cash Balance (MCB)
- Compute qualifying Liabilities, non-bank deposits and adjusted capital fund
- Monitor qualifying assets and ensure compliance with the ratios and requirements including projections
- Prepare/check MAS returns for submission covering notices 755, 640, 649, 758, 610, 757, 759, 760 and 630

Assist Finance (as a backup) in the processing of payment and entries for expense

**Job Requirements**:
Knowledge
- Good knowledge and understanding of Anti-money Laundering.
- Good knowledge of Customer Due Diligence/ Know your Customer requirements.
- Basic understanding of Sanctions and screening
- Basic understanding of MAS regulatory requirements of a wholesale bank
- Solid computer skills with capability to use spreadsheets, graphic and presentation packages to review and create professional material.
- Knowledge and understanding of MAS reporting, MLA, MCB and AMR
- Basic knowledge of accounting preferred

Education / Certifications
- Suitably educated, preferably with a bachelor’s degree (a prerequisite).

Experience
- External auditors or Internal auditors that have audited regulated financial institutions and are looking for an in-house role are welcome.
- Junior compliance professionals looking to expand compliance knowledge and portfolio.
- Compliance related qualifications would be an advantage (e.g. ACAMS, ICA).

Personal attributes
- Motivated and independent, with a can-do spirit to expand compliance knowledge.
- Stakeholder focused.
- Effective communication skills.
- Ability to remain calm, work under pressure and meet tight deadlines.
- Good organization, coordination and follow-up skills.

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