Contract KYC/CDD Analyst

We are urgently seeking a Contract KYC/CDD Compliance Analyst for a 6-month assignment, with potential for extension based on performance.  The successful candidate will be responsible for reviewing the adequacy of existing KYC/CDD documentation and conducting thorough KYC/CDD checks for our customers.

This role plays a vital part in strengthening our compliance with Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Proliferation Financing (PF) regulations, as well as adhering to our internal Standard Operating Procedures (SOPs).

The selected candidate will join a dynamic and collaborative team, with opportunities to work alongside colleagues across multiple locations.

Responsibilities:

• Documentation Adequacy Review:

• Conduct a thorough 100% review of all existing merchant KYC/CDD documentation currently stored in the central repository and ensure workflow sequence is in line with the Merchant Onboarding Standard Operating Procedure (SOP).

• Verify the presence and validity of all required documents, according to products and customer classification. This includes ensuring all elements specified in the SOP are collected and properly stored.
• Identify any missing, incomplete, or inconsistent documentation, flagging discrepancies for follow-up with the relevant teams.
• Ensure proper record-keeping standards are met for all reviewed files, including screenshots of screening results and analysis of hits.

Merchant KYC/CDD Checks:

• Perform comprehensive KYC/CDD checks for customers and connected parties, strictly following OxPay SG's AML/CFT Policy and Merchant Onboarding SOP.
• Conduct screening using the KYC solution on the customer, its authorized representatives, beneficial owners, and connected parties against global data sources including Politically Exposed Persons (PEP) databases, regulatory enforcement records, and adverse media sources.
• Utilize critical thinking to analyze screening results, determining whether hits are legitimate or false positives, and documenting the analysis.
• Identify and escalate cases requiring Enhanced Customer Due Diligence (ECDD). This includes situations involving customers in high-risk jurisdictions, complex legal entities, opaque ownership structures, inconsistencies in Source of Wealth or Source of Funds, PEP status, sanctions exposure, adverse media, or unusual transaction patterns.
• Verify the identity of the customer, natural persons acting on behalf of the customer, and beneficial owners using reliable, independent sources.

• Validate appropriate AML/CFT risk ratings (Country/Jurisdiction Risk, Screening Risk, Structural Risk) to customers upon completion of identification and verification processes.

• Discrepancy Identification:

• Apply a diligent, meticulous, critical thinking, and logical mind to identify any discrepancies, inconsistencies, or "red flags" in documentation, screening results, or customer profiles that may indicate potential ML/TF/PF risks.

• Assess the legitimacy of business operations and transactions, inquiring into the background and purpose of any complex, unusually large, or unusual patterns of transactions that lack apparent economic or lawful purpose.
• Evaluate whether explanations for business activity or funds are reasonable and consistent with the merchant's declared profile and expected transaction patterns.

Requirements:

• Proven experience (at least 3 years) in KYC, CDD, or AML compliance, preferably within the payment processing or financial services industry.
• Demonstrated ability to be very diligent and meticulous in reviewing substantial volumes of documentation and information.
• Exceptional critical thinking and logical reasoning skills to analyze complex data, identify inconsistencies, and effectively assess and mitigate risks.
• Solid understanding of AML/CFT/PF laws and regulations in Singapore, including MAS Notice PSN01, PSN03, and the Payment Services Act 2019.
• Experience with screening and workflow tools is highly advantageous.
• Excellent organizational skills with the ability to manage workload and prioritize tasks efficiently in a high-pressure environment.

• Strong written and verbal communication skills for documenting findings, writing clear reports, and liaising effectively with internal teams.

• Ability to work independently while also contributing collaboratively within the Risk & Compliance Team.

• Singaporean or Permanent Resident only
• 5 days' work week