Overview

OSPL Back Office

Retail AML and Sanctions Risk Analyst – (250000MN)

Description

 

JOB DESCRIPTION:

 

·         Conduct risk assessment and due diligence for new accounts to identify potential vulnerabilities related to AML and Sanctions Risk.

·         Perform regular review of accounts arising from periodic reviews (PR)and triggering events (TER)  

·         Analyse challenging or high-risk retail account update/EDD situation and make appropriate recommendations to management to maintain or exit existing relationship

·         Review Daily Name Screening hits assessment from Centre of Excellence Team (COE) and ensure that name screening and risk scoring for retail account KYC/ CDD, account updates and Level 2 assessment of name hits are in line with SOP 

·         Liaise with relevant stakeholders and Trade representatives to obtain additional information or documents such as source of wealth/source of funds to facilitate timely review of TER/EDD/PR, retail account updates and assessment of name hit alerts.    

·         Manage AML related account exit in timely manner.

·         Prepare and file suspicious activity reports and other regulatory reports as necessary.

·         Document findings from investigations and create report for management.

·         Ensure the relevant checks/screening are performed for the Enhanced Customer Due Diligence (EDD)

·         Assist in the development and implementation of internal AML policies, procedures and training programs.

·         Recommend effective risk mitigating strategies for senior management consideration

·         Ensure proper governance through updating senior management in meetings on regular basis

·         Ensure compliance to audit/compliance issues through maintenance, update & revision of policies and procedures in the AML/CFT & Sanctions Risk procedural manuals

·         Conduct gap analysis and take necessary actions to resolve identified gaps and align the procedures, practices, and standards with Group Policies

·         Conduct training regular on AML typologies and changes in procedures/policies to team members

 

 

Qualifications

 

    JOB SPECIFICATION / QUALIFICATION: (please use the excel provided to copy and edit whenever required)

     

    ·         Related working experience of at least 5 years

    ·         Excellent understanding of relevant AML/CFT laws and regulations

    ·         Communicates well and able to present and conduct AML training company-wide

    ·         Possess a strong analytical and problem-solving skills with excellent verbal/written communication and interpersonal skills

    ·         Able to communicate effectively through writing

    ·         Able to directly address conflicts and escalate issues where appropriate

    ·         Preferably possess certification in AML related Diploma / ACAMS

     

    Primary Location

    : Singapore

    Job

    : Client Review

    Organization

    : OSPL Back Office

    Schedule

    : Permanent

    : Full-time

    Job Posting

    : 21-Apr-2025, 7:45:03 PM

    Tagged as:

    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.