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The position of FI Transaction Review Officer is part of the in-business Global Financial Institutions AML team and reports to the FI AML Head. The FI Transaction Review Officer is responsible for reviewing accounts, customers and transactions in order to detect and identify unusual activity for further discussion with respondent bank and/or refer such instances for further investigation.
Roles and Responsibilities
Perform transactional review on Financial Institutions Customers' accounts and transactions as part of the Bank's Customer Due Diligence process
Analyse transactions to determine whether in-line with Customer's expected profile
Identify downstream/nested correspondent relationship through transaction review
Monitor higher risk accounts and geographic areas and escalate any unusual activities to management
Review incomplete wire information and propose plans for follow up actions.
Thorough documentation of the review supporting the decision to close or escalate the activities for further follow up/investigations
To follow up on issues raised and participate in site visit and calls with clients where required
Assist with compliance audits, including internal and MAS-related audits
Undertake any other Compliance-related matters or ad-hoc projects
A University degree in Accounting/Banking/Finance or related discipline
Minimum of 3 to 5 years direct working experience in AML functions or equivalent with related experience in other areas of banking and preferably in the financial services industry
Experienced in reviewing and analysing foreign and domestic correspondent banking transaction activities is highly desirable
Knowledge of AML red flags, particularly with respect to wire transfers and correspondent banking; knowledge FATF recommendation 16 on Wire Transparency is desirable
Basic working knowledge of Singapore AML laws and regulations relative to money laundering and terrorist financing and the ability to apply this knowledge in assessing transaction activity; knowledge of monitoring of high-risk customer accounts is preferred.
Excellent analytical, interpersonal, communication and writing skills
Independent and ability to multi-task and meet multiple deadlines
Strong in Microsoft Office applications
Internal Number: 6277755
About OCBC Bank
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