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!

The incumbent is responsible to assist the management of Legal and Regulatory Compliance Department and the Head of Compliance Testing & Quality Assurance to conduct independent Quality Assurance (“QA”) reviews on 1LOD/2LOD AML/CFT controls to ensure that they are operating in accordance with regulatory expectations and the Bank’s AML/CFT Policies & Procedures.

The QA analyst will work closely with the relevant control functions and teams to identify material control deficiencies and their root causes, and in ensuring that they are satisfactorily resolved to be in line with regulatory expectations and requirements, as well as industry best practices. The QA analyst will also assist in the preparation of management reports, review of QA procedures, and augment the Bank’s AML/CFT training in respect of identified findings or weaknesses.

Main duties

• Conduct QA reviews on key AML/CFT controls, including but not limited to customer due diligence (onboarding and periodic reviews), transaction monitoring, name screening and payment screening processes and controls;
• Contribute to the continual uplift of AML/CFT standards by identifying material execution gaps and deficiencies in existing AML/CFT procedures and controls; and recommending appropriate action plans for effective and sustainable remediation;
• Escalate material observations and gaps identified to senior management/Financial Crime Compliance Department/Client Onboarding Life Cycle Management Department as needed;
• Assist in the review of QA methodology and procedures, so as to ensure that they remain relevant and effective in a dynamic ML/TF risk environment;
• Prepare key QA metrics, Power BI dashboards and reports for senior management reporting, including periodically refreshing and enhancing the reporting formats and metrics as needed;
• Work closely with BOS’ internal and external stakeholders across BOS and OCBC Group on assurance matters, and in supporting the conduct of AML/CFT training as needed;
• Develop effective relationships within the Legal and Compliance function and with other key stakeholders including audit function and business process owners;
• Conduct other AML/CFT-focused reviews or lead ad-hoc projects when required; and
• Maintain good working knowledge of the AML/CFT risks, private banking industry trends and relevant laws and regulations.

Requirements

• Degree with minimum 6 to 8 years of relevant work experience in ML/TF risk management, preferably in a private bank setting.
• Strong technical knowledge and sound understanding of AML/CFT requirements, laws, rules, risks, typologies and private banking related requirements in Singapore, Hong Kong as well as key geographies where BOS entities operate in.
• Strong analytical skills, keen eye for details and sharp risk acumen to identify material and/or sophisticated ML/TF gaps and red flags.
• Prior experience in AML quality assurance, transaction monitoring or customer onboarding / periodic review is preferred.
• Ability to work collaboratively with key stakeholders and business partners in other functional units and to influence and interact with executive management.
• Strong communication skills including the ability to articulate complex issues and recommendations clearly and succinctly.
• Effective negotiation skills, a proactive and “no surprises” approach in communicating issues and maintaining independent views when fronting senior stakeholders.
• Works well independently and as a team player in a diverse team environment. Able to deliver quality work under tight timelines and pressure.
• Professional qualifications in financial crime or auditing such as CAMS, CPA or CA preferred.