Deputy Head of Compliance

**Mission**:To support the Compliance team in establishing and maintaining a strong compliance culture across the organization. This role ensures adherence to regulatory standards, fosters continuous improvement in compliance processes, and provides daily operational oversight, particularly in the absence of a department head.

**Outcomes**:
1. Client Risk Assessment Review and Approval
- Review high-risk client assessments and ensure timely and accurate feedback within 24 hours. Collaborate with the compliance team to ensure thorough documentation and proper escalation for management approval.

2. Efficient Handling of Screening and Transaction Alerts
- Ensure that name screening alerts are resolved within 24 hours and transaction monitoring alerts are cleared within 48 hours, preventing backlogs and ensuring smooth operations.

3. Ongoing Monitoring and Client Due Diligence
- Regularly review client files and ensure that the necessary due diligence updates are completed on time, particularly for high-risk clients. Collaborate with other teams to ensure that necessary information is updated regularly.

4. Quality Assurance and Process Improvements
- Conduct periodic reviews of compliance processes and identify areas for improvement. Work closely with team members to enhance the effectiveness of risk management strategies, ensuring the continuous growth of the compliance function.

5. Timely Investigation and Filing of Reports
- Ensure that compliance investigations are concluded within 20 days, and any necessary regulatory reports, such as suspicious transaction reports (STRs), are submitted within prescribed timelines.

6. Development and Implementation of Compliance Training
- Contribute to the development and delivery of training materials and sessions aimed at improving the compliance knowledge of staff. Ensure regular training updates to stay in line with regulatory changes and industry best practices.

7. Regulatory Change Management
- Proactively monitor regulatory changes and help ensure that the organization remains compliant by implementing any necessary updates to compliance policies. Maintain an updated obligations register and assist in interpreting new regulatory requirements.

8. Internal Audits and Compliance Inspections
- Provide support during internal audits and compliance inspections. Assist in compiling necessary documentation, ensuring all compliance practices are in line with regulatory requirements.

9. Compliance Documentation and Reporting
- Oversee the preparation of compliance-related reports, including tracking and reporting on key performance indicators (KPIs) and risk metrics. Ensure that reports are accurate, clear, and submitted on time to senior management.

10. Collaboration with Operational Teams
- Work closely with operational teams (e.g., client onboarding, account management) to ensure compliance procedures are embedded in day-to-day operations. Ensure that compliance risks are identified early and mitigated in collaboration with relevant teams.

11. Support for Compliance System Updates
- Assist in reviewing and updating the compliance system or process flows to ensure they are in line with industry standards and regulatory requirements. This may include recommending changes or improvements based on feedback from internal teams or regulatory bodies.

12. Compliance Support for New Business Initiatives
- Collaborate with business development and other relevant teams to assess the compliance implications of new business initiatives or products, ensuring that compliance is maintained at all stages.

13. Crisis Management and Incident Handling

Support the team in managing compliance-related crises or incidents, ensuring appropriate corrective actions are taken, and documentation is completed in accordance with regulatory requirements.

**Requirements**:

- At least 4-5 years of experience as a Compliance Officer or in a similar role.
- Sound understanding of compliance regulations in Singapore and any other relevant jurisdictions.
- Strong attention to detail, organizational skills, and ability to manage multiple tasks effectively.
- Excellent communication skills, both verbal and written, with the ability to explain complex compliance concepts to non-compliance stakeholders.
- Ability to work under pressure, prioritize tasks, and ensure timely delivery of compliance outcomes.