Compliance Specialist

2 weeks ago

Singapore BANGKOK BANK PUBLIC COMPANY LIMITED Full time $80,000 - $120,000 per year

Bangkok Bank Singapore is a full license bank operating in Singapore since 1957. We provide a wide range of wholesale and consumer banking and financial services to meet the diverse needs of our clients. We have an immediate vacancy for a suitably qualified individual to join us as:

COMPLIANCE SPECIALIST

The selected candidate will join the Transaction Monitoring Team in the Bank's Compliance Department. He/She is expected to demonstrate understanding of the prevailing AML regulations specific to Singapore. The roles and responsibilities include the following:

  • Perform 2nd level review and analysis to determine any potential AML/CFT concerns and provide approval for escalations of trade transactions, remittances including cheques/ cash to Compliance. Document the risk assessment and the risk mitigations that support the advisory decisions (pre transaction monitoring, escalation from Operations to Compliance).
  • Review and investigate all post transaction monitoring alerts generated by Transaction Monitoring System. Perform post transaction analysis where necessary.
  • Ensure efficient identification and monitoring of suspicious activities and transactions, and timely reporting of suspicious transactions to the authorities.
  • Communicate with relevant Business Units and Operations to provide transaction monitoring advisory and expertise on all transaction monitoring matters.
  • Assist with daily/monthly AML report checks, updating internal local list, high risk country list, review of watchlist reports and transaction escalation received from Business Units / Operations.
  • Undertake other ad hoc duties as and when required e.g. KYC reviews / extract of documents for audit review, provide statistics.
  • Maintain a current understanding of trade based money laundering red flags; money laundering and terrorist financing issues as well as sanctions, including policies, procedures, regulations, industry best practices, criminal typologies and developing trends.
  • Identify opportunities for process improvements and any other roles where the Bank is required of you.

The ideal candidate must meet the following requirements:

  • Recognized Degree with minimum total work experience 3 – 5 years in the financial industry, which should include minimum of 3 years' experience in AML/CFT Compliance - Transaction Monitoring (with knowledge of Trade ECDD and other types of transactions due diligence) and Investigation.
  • Sound knowledge of financial products i.e. Trade Products, Remittances, Cheques, GIRO.
  • Sound knowledge of MAS regulations (MAS Notice 626, Guidelines to MAS Notice 626 and best practice papers), Sanctions, investigation and Anti-Money Laundering regulations.
  • Strong analytical skills and meticulous with an investigative mindset.
  • Good written skills for the purpose of detailing analysis and recommendation in Compliance Comments for transaction review/ investigation reports/ memos.
  • Good communications skills, hands-on, indepedent and proactive in carrying out daily tasks and investigations.
  • Team player and proactive and able to take initiative.
  • Relevant Certification from ACAMS or ICA.

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