Client Due Diligence Specialist

2 days ago

Singapore Bank of Singapore Full time

At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today
- Conducting SoW Due Diligence reviews. Accurately identify gaps (if any) in client's source of wealth and assess the plausibility in line with MAS and the Bank's expectations.
- Perform detailed calculations to support the client's source of wealth journey, i.e accumulation of wealth over time.
- Liaise with relationship managers for deficiencies of KYC information and obtain corroboration documentation.
- Assist relationship managers to succinctly translate the SoW information into a professional and quality write up.
- Develop and maintain the workflow management of the SoW Uplift Team Review team including taking responsibility for work allocation and ensuring that work is distributed appropriately while also ensuring that service levels are met.
- Report to the SoW Uplift Team Head for completion progress on a regular basis and escalate issues to Business Compliance Managers or Compliance where required
- Check in with all CDD Specialist periodically to review completion rates, discuss queries and identify and deal with any performance concerns
- Assist with the recruitment, retention, and performance management of the SoW Uplift Team Review team, dealing with any performance issues and assisting with performance reviews
- Support the SoW Uplift Team Head to carry out regular training for the team to ensure all team members are up to date with applicable AML laws and regulations and advise on how these changes affect the Bank and its processes
- Co-ordinate and manage the AML training plan for new members of the team
- Identify internal training needs for Front Office and assist with the planning and provision of training
- Activities progress tracking through MIS update and reporting.
- Participating in on demand risk management projects and activities, including process optimisation initiatives.

**Qualifications**

Work Experience Requirements:

- At least 6 - 8 years of experience in AML and Source of Wealth (SoW) experience for Client Onboarding and Periodic Reviews in a private banking environment.
- Knowledgeable and sensitive to the risks involved AML risks of private banking clients.
- Strong analytical writing skills and strong communication skills, including the ability to deal with potentially contentious issues effectively.
- Able to work independently as well as in a team.
- Experience in supervising, leading a team &/or managing projects would be an advantage.
- Ability to influence and collaborate well with stakeholders and team members
- Familiar with excel and preparation of statistics for reporting.

Education Requirements:

- Diploma/ Degree holder
- ACAMs or ICA would be preferred

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