Overview

Onsite
BOS Singapore
Full time
JR00000579

Bank of Singapore opens doors to new opportunities.

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!

This position within the Front Office (FO) and is responsible for supporting the onboarding journey of clients of the Bank. The successful candidate is expected to be knowledgeable in AML principles and engage Relationship Managers in framing the KYC narrative, analyze situations to identify gaps and risks in KYC information and documentation

Key Role

COA will act as advisors to the new RM/ARM pertaining to onboarding of and complex PB accounts. Their mandate includes training & advising the new RM/ARM on BOS SoW requirements which comprise of the SoW journey of the client, corroborative evidence & the usage of the appropriate industry benchmarking. The aim is to equip these RM/ARM with the know-how to frame their SoW write up to align with FCC/COLM standards and improve new account approval turn around.   COA will also advise these RM/ARM on the formalities requirements for the new account, to minimize any documentation deficiencies during the COLM’s Checker review process.

SoW

  • Conduct joint discussions pre-onboarding with RMs / ARM to obtained preliminary information on the client and ensure the right information is asked upfront to enhance the client experience
  • COA will provide advice to the RM for them to formulate the SoW write up, in accordance with the BOS Compliance template so that RM can  ensure completeness & accuracy
  • Advise FO of acceptable way to perform detailed calculations to support the client’s source of wealth journey, i.e accumulation of wealth over time.
  • Advise relationship managers potential ways to succinctly translate the SoW information into a professional and quality write up.
  • Assist the RM to accurately identify gaps (if any) in client’s source of wealth and assess the plausibility in line with regulatory and the Bank’s expectations.
  • Advise RM/TH to address complicated queries from COLM/FCC in the account review & approval process and work with RM & COLM/FCC to resolve these issues.
  • Support through education and advisory of Compliance-related policies and procedures as required in the onboarding process.
  • Keep abreast of AML/CFT, Sanctions and regulatory knowledge and developments – by participating in relevant training and support in sharing best practices
  • COA will assist the RM to review the account structure and advise the RM on the formalities requirements after consultations with COLM & CAS Team.
  • COA may assist RMs to better understand CAS requirements for potential documentation amendments / additional documentations

Requirements

  • Association of Certified Anti Money Laundering (ACAMs) or International Compliance Association (ICA) Certification would be preferred
  • At least 3-6 years of experience in AML and new client onboarding &/or periodic reviews in a private banking environment.
  • Knowledgeable and sensitive to the risks involved AML risks of private banking clients
  • Bachelor’s degree or diploma

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About OCBC Bank

OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

OCBC and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

OCBC’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include about 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.

OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.

OCBC's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.