Client Due Diligence Manager

Overview Bank of Singapore, part of OCBC Group, seeks exceptional individuals who value openness, teamwork and fairness. The bank offers attractive remuneration, non-financial benefits and opportunities to develop within OCBC Group’s global network. If you have passion and drive, rise to the challenge today Bank of Singapore opens doors to new opportunities. Bank of Singapore opens doors to new opportunities. Start your career with Bank of Singapore as a Client Due Diligence Specialist . This position within Client Onboarding & Lifecycle Management is primarily responsible for the banks' client onboarding, continued AML/CFT monitoring and reviews. The successful candidate is expected to maintain high and consistent standards in accordance to the AML/CFT Procedures within the bank. In addition, the successful candidate may also be assigned other compliance/risk management relevant tasks, assignments or projects. Responsibilities Client on-boarding and Due Diligence Ensure thorough, timely and quality review of new client onboarding requests including account approval. Advise front office and other colleagues within the team on client onboarding matters including deficiencies in KYC information and documentation for onboarding. Perform independent and thorough review, including KYC/AML/Tax risk identification, plausibility checks as well as corroboration of clients Source of Wealth and Source of Funds. Review and approve new business relationships with Independent Asset Managers, Referral Intermediaries, and counter parties. Collaborate with key stakeholders involved in the process, Relationship Managers, Team Heads, Market heads, Compliance and other colleagues within the bank to ensure seamless on-boarding. Train team members as well as colleagues from front office on matters pertaining to KYC AML. Assist team lead / functional head on tasks related to client onboarding as well as post client onboarding including acting as a deputy as and when delegated. Assist to respond to queries and clarifications resulting from internal, external, statutory or regulatory audits. Identify gaps and implement controls including system and process enhancement that are fit for purpose and to address current and future requirements in a rapidly changing regulatory environment and an evolving AML landscape, in line with industry best practices. Client Reviews Conduct reviews of existing clients to ensure their biodata remains updated. Handle the alerts arising from the periodic screening of the bank's customer database. Conduct periodic reviews of KYC and CDD information of existing relationships including but not limited to higher risk relationships and financial intermediaries. Identify and investigate suspicious activity, prospects or clients and make necessary recommendations to senior management to file appropriate suspicious transaction reports to CAD and MAS/HKMA. Investigation of suspicious transactions surfaced during periodic review. Liaise with relationship managers / business compliance managers for issues and deficiencies identified during reviews. Update and implement periodic review processes. Guide team members or relationship managers in conducting the periodic review. General Support Client Onboarding & Lifecycle Management on matters assigned from time to time in line with overall priorities of the bank. Collaborate with other colleagues within the bank to drive remediation and other projects as required. Prepare Management information reports based on agreed requirements. Organize meetings with Front Office and focus group training to align front office practices with current procedures. Qualifications Minimum 5 years of experience in AML/KYC under a risk and control function in a private banking environment. Knowledgeable and sensitive to the risks (PEP, Sanctions, reputational risks) and suspicious activities typical of private banking clients. Knowledge of regulations including MAS, HKMA and other intergovernmental / non-governmental organizations such as FATF / Wolfsberg. Client onboarding approval experience in HK and / or SG in PB industry (SoW/SoF, client risk assessment, purpose of accounts). University degree in Accountancy, Finance, Business Administration or equivalent, or higher education. Strong understanding of AML/CFT framework and the regulatory environment and its applicability to Private Banking clients in the areas of onboarding, ongoing client reviews and transaction monitoring. Familiar with MS Excel, MS Word, MS PowerPoint and other office automation tools. #J-18808-Ljbffr