Overview

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!

You will be part of the Client Regulatory Reporting Team to support the bank in meeting its US Foreign Account Tax Compliance Act (FATCA), Qualified Intermediary (QI), Common Reporting Standard (CRS) and other regulatory requirements. Your responsibilities will include producing high-quality reports and ensuring timely submissions to regulatory authorities.

Main Duties

  • You will be responsible for producing the year-end FATCA, QI and CRS reporting for submission to respective tax authorities in a timely and accurate manner.

  • You will  work closely with various operational and technology teams to ensure the timeliness and accuracy of data to be reported.

  • You will perform reconciliation and data quality checks, which for QI purposes would be on a quarterly basis on our clients’ entitlements against custodian records.

  • You will need to reconcile cash breaks related to tax postings and maintain audit trail of cash ledger matching.

  • You will execute processes jointly with respective operations teams to ensure that the necessary setups are in place to support the reporting obligations, e.g. alignment of positions in segregated pooled accounts.

  • You will coordinate with various parties from time to time to address any data quality or control issues that arise.

  • You will collaborate closely with the Regulatory Change and Data team to analyze and assess any impact from business, regulatory, or technology developments or incidents and recommend solutions as necessary.

  • You will participate in projects and provide requirements, including performing User Acceptance Testing (UAT) and regression testing.

  • You will identify and propose process improvements as required.

  • You will maintain operational procedures and ensure adherence to control standards.

  • You will address queries pertaining to our area of business, including client complaints or relevant authorities’ requests for information (RFI).

  • You will support compliance review exercises, including CRS/QI health-checks and QI Periodic Reviews.

  • You will prepare management information updates for the Team Head on a regular basis.

  • You will support other ad hoc requirements as assigned.

Work Experience and Requirement

  • Preferably university degree in finance or accounting.

  • At least 2 years of relevant experience in banking/financial institutions with a basic tax acumen.

  • Prior experience in FATCA, QI, CRS and AEOI regulations and processes is a strong advantage.

  • Solid problem-solving and analytical skills with high attention to detail.

  • Strong appreciation of risk impact and control perspective.

  • Responsible and able to take ownership of assigned tasks while strictly abiding by the timelines.

  • Proactive, self-motivated, and resilient in managing complex regulatory requirements and deadlines.

  • Working knowledge of MS Excel, XML and AxiomSL will be an added advantage.

JR00007089

About

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.