Compliance in Charge

Job Description
of Compliance In-charge Key Accountabilities 1. To provide leadership, oversight and guidance for the establishment of a strong compliance culture and framework 2. Act as Money Laundering Reporting Officer for Singapore Branch 3. Lead and Manage AML initiatives and projects. Ensure timely monitoring and resolution of any escalated AML/CFT issues 4. Supervise and approval of KYC profiles and CDD exercise of all risk ratings with a focus on high risk clients (Existing Client base) 5. Review customer on-boarding and monitoring transactions in accordance with the AML/Sanction/Tax Offence framework established within BOISG Policies and Procedures 6. Advising Senior Management (CE and DYCE) on and resolve potential AML issues with significant interaction across all business units and advising on AML Compliance. 7. Draft and implement appropriate policies and procedures 8. Periodic in house training for employees on matters relating to Compliance/AML/CFT 9. To monitor the performance of the Compliance Yearly Work-Plan (Compliance Program) and relates activities on accounting basis, taking appropriate steps to improve its effectiveness. 10. Administer and handle day to day AML advisory/sanctions related cases/issues to Business units 11. Follow up and resolve any outstanding AML/CFT issues on a timely basis 12. Participate in any ad-hoc related projects and to provide assistance in the preparation of audit deliverables(Sustainability Tracker) 13. Creating awareness and promoting compliance with all applicable legislative requirements of Singapore regulatory requirements of MAS and RBI (Reserve Bank of India) and internal requirements set by Head Office and the local management of BOIS 14. Review of Enterprise wide Risk Assessment in co-ordination with business unit and submit the result of such review to Senior Management. 15. To co-ordinate with internal/external auditor on AML/CFT compliance issues 16. To co-ordinate with authority like regarding production orders from Commercial Affairs Department (CAD), enquires from other law enforcement agencies such as Inland Revenue Authority of Singapore (IRAS), Corrupt Practices Investigations Bureau (CPIB) and from SingaporeCustoms. 17. Daily approval of Transactions carried out by High Risk Customers and transactions to or from High Risk Countries by Low/Medium or High Risk customers escalated by business units for review and approval. BANK OF INDIA