Client Due Diligence Specialist

3 days ago

Singapore BOS TRUSTEE LIMITED Full time

BOS Trustee Limited is the trust company owned by Bank of Singapore. Headquartered in Singapore and regulated by the MAS. The company provides trust administration and advisory services.
- The incumbent review and deal with new business within BOS Trustee Limited.
- The incumbent will also support the trust company in trust product matters for private banking clients who have set up a trust structure for succession planning purposes

**Main Duties**
- Review and approve all trust onboarding documentation. Check the new business documentation to ensure completeness and that it meets policy requirements.
- Review source of wealth background of clients, corroborate the declared net worth independently and assess supporting documentation (e.g. financial statements) in line with regulatory requirements (AML)
- Carry out name screening in accordance with bank standards. Conduct assessment on potential hits, follow compliance guidance and procedures.
- Complete the new business checklist, and assessment for trust relationship manager and team head sign-off
- Interact with front office/wealth advisory team to obtain documents
- Manage junior staff as necessary
- Maintaining relevant spreadsheets to track and record on the businesses onboarded
- Track due reviews and produce management reports as necessary
- Ensure client due diligence documents (Eg. passports, address proof, certificates of incumbency etc.) are up to date and accurately recorded (for the files as well as the system and databases)
- Ensure outstanding matters are attended to or, if not, escalated accordingly.
- Ensure prompt turnaround of all new business and setting up of structure
- Ensure that Compliance approval is obtained where required.
- Review the permanent file to ensure good order and completeness.
- Assist with other departmental projects and specific ad-hoc tasks as necessary
- Contribute to the implementation and design of the trust product e.g. consideration of regulatory, risk and business (financial/operational/tax) issues. Own the Trust product approval paper for types of trusts serviced by the trust company. Point person for trust onboarding/structuring matters.Act in accordance with core values (Lasting Value, Integrity, Forward-looking, Respect, Responsibility) of the organisation, and demonstrate the highest standards of business and personal conduct.

**Requirements**:

- Min Degree holder with 5 to 10 years in banking/financial industry, experience in KYC/AML/Compliance/Risk, knowledge of anti-money laundering procedures or trust experience will be an advantage
- Good communication and interpersonal skills
- Strong leadership skills, initiative and competency
- Team player
- Organised, detailed and with good risk awareness

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