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This position is part of the in-business Global Financial Institutions AML team and reports to the FI AML Head. You will be responsible for leading and facilitating Customer Due Diligence reviews of OCBC Financial Institution Clients and ensures that the quality of CDD reviews meets international best practices.
Roles and Responsibilities
Deliver risk assessment orientated CDD at onboarding/periodic review/trigger events and providing recommendations on how to proceed with the client relationship (retain, proceed to exit), escalating where necessary
To be the subject matter expert on OCBC's related AML/Sanctions policies and procedures focusing on the FI business (ie. Correspondent Banks/Non-Bank FIs) and will proactively engage with Relationship Mangers and clients on managing AML risk
Conduct on-site due diligence meetings and conference calls with client's senior contacts including business managers/executives, finance controllers, compliance officers...etc
Review and suggest improvements for KYC/AML procedures and policies to drive up the quality of CDD reviews and aligned with the Group Standards
Contributes to review of FI AML team CDD processes for standardisation, design improvements and process structuring, such that the team operates efficiently. Expected to be proactive and generate forward thinking solutions
Engage with Bank wide AML programmes to enable improvements such as testing processes and running pilots and would be responsible for generating creative ideas with regards to optimising and embedding AML processes
Supports the Head FI AML on various enhancement projects and initiatives
Handles MAS regulatory, internal and external audits and filing of STRs noted through triggering events, periodic reviews, sanctions related matters
To conduct ongoing training and to develop the team with the market best practice
An experienced compliance officer with strong Financial Institution AML/CFT knowledge
At least 8 years of experience, preferably in Compliance / Financial Institution / Corporate Banking environment
Hands-on working familiarity with compliance related matters especially with the implementation and operationalization of regulations, rules, policies and processes related to Anti-Money Laundering and Countering the Financing of Terrorism
Identifying and understanding the AML and Sanctions Risk associated with Financial Institutions clients is key for this role
Experience in dealing with external and internal auditors is necessary
Managing regional stakeholders and involving in hubbing process is desirable
Knowledge of RMAs, Cash and Correspondent Banking is desirable
The ideal candidate is a team-player with the ability to see beyond his/her job-scope and work with the business unit colleagues to realise business goals and targets
Is mature and able to work under pressure and meet timelines
Is articulate and assertive with good interpersonal, analytical and writing skills