AVP - Senior AML Analyst

OCBC Bank; Singapore; On-site; SGD 60,000 - 100,000; Full time

Benefits offered by this job

Competitive base salary

Learning & development opportunities

Wellbeing programs

Job summary

OCBC Bank is seeking an AML risk management professional to assess customer profiles and transactions for sanctions, ML, and TF risks. You will contribute to risk mitigation strategies and collaborate with compliance and regulatory teams.

The role emphasizes due diligence, risk assessment, and proactive advisory support, with opportunities to participate in RegTech initiatives and ongoing AML projects within a dynamic Singapore-based team.

Qualifications

• Diploma or Degree holders aspiring to develop a career in AML risk management.

Responsibilities

• Analyze customer profiles and transactions for sanctions, ML, and TF risks.
• Provide risk assessments and highlight key risk areas to senior management.
• Implement approved risk mitigating strategies and ensure proper execution.
• Conduct due diligence reviews and escalation as required.
• Assist in AML projects and RegTech initiatives.

Skills

AML regulations

Sanctions screening

Risk assessment

Data analysis

Education

Diploma or Degree

Job description

WHO WE ARE: As Singapore’s longest established bank, we have been dedicated to enabling individuals and businesses to achieve their aspirations since 1932. How? By taking the time to truly understand people. From there, we provide support, services, solutions, and career paths that meet their individual needs and desires. Today, we’re on a journey of transformation. Leveraging technology and creativity to become a future-ready learning organisation. But for all that change, our strategic ambition is consistently clear and bold, which is to be Asia’s leading financial services partner for a sustainable future. We invite you to build the bank of the future. Innovate the way we deliver financial services. Work in friendly, supportive teams. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career. Your Opportunity Starts Here.

CARM is an operational risk management team under OCBC Consumer Financial Services (CFS) Singapore business unit. The team actively works in partnership with CFS Business Risk Management Team (BRMT) and CFS AML & Sanctions Advisory Team to manage CFS AML Risk in a highly demanding and fast paced environment, with opportunities and exposure in the area of proactive AML risk management for aspiring AML expertise individuals.

Key Responsibilities

1. Analysing new and existing customers' profiles and transactions in the relevant sanctions, money laundering (ML) and terrorism financing (TF).
2. Providing relevant sanctions/ML/TF risk assessments of customers' profiles and transactions, highlighting any key risk area(s) for attention.
3. Recommending effective risk mitigating strategies for senior management consideration.
4. Implementing approved risk mitigating strategies by ensuring thorough and consistent execution.

Key Learnings & Duties

1. Processing of escalated name screening alerts and/or transaction activities alerts.
2. Processing of priority requests from compliance or local authorities.
3. Reviewing and/or filing of internal Suspicious Transaction Reports (UTR) to assess if further escalation to Group Regulatory Compliance Unit for STR filing is required.
4. Conducting Standard or Enhanced Customer Due Diligence reviews.
5. Managing customers and internal stakeholders' request for information and documents.
6. Exiting and closure of customer banking relationships.
7. Tracking of activities progress through MIS update and reporting.
8. Providing AML advisory support to internal stakeholders where required.
9. Participating in on demand risk management projects and activities, including optimisation, RPA and AI RegTech initiatives.

Academic Requirement

Diploma or Degree holders aspiring to develop a career in AML risk management.

Experience Added advantage for individual with:

1. Minimum 5 years of Sanctions/AML/CFT operational experience and/or
2. Certification in Sanctions / AML / CFT
3. Experience in managing people or leading teams

Technical Skills

Technical knowledge and understanding of Singapore’s regulatory requirements relating to sanctions, money laundering and terrorism financing.

Personal Traits

1. Passionate in developing a career in AML risk management.
2. Independent self-starter with a strong positive mindset and self-motivation ability.
3. Meticulous, committed and focused.
4. Possesses an inquisitive mind and raises critical challenges to augment current work processes.
5. Strong analytical and problem-solving abilities.
6. Has a good sense of risk acumen.
7. Ability to influence and collaborate well with stakeholders and team members.
8. Good written and oral communication skills and ability to interact effectively with people at different levels.
9. Forward looking and embraces technology to drive efficient and effective AML risk management.

What we offer:

• Competitive base salary.
• A suite of holistic, flexible benefits to suit every lifestyle.
• Community initiatives.
• Industry-leading learning and professional development opportunities.
• Your wellbeing, growth and aspirations are every bit as cared for as the needs of our customers.

Let’s build the bank we need for the future we want. Find the best version of yourself in a friendly, supportive team. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career. Your Opportunity Starts Here.

As the longest established Singapore bank, formed in 1932 from the merger of three local banks, we have grown from strength to strength to become a regional financial services group. With a deep history in Asia, we offer the most comprehensive coverage across ASEAN and Greater China, complemented with a presence in the leading economies of New York, London and Sydney. We are the second largest financial services group in Southeast Asia by assets with one of the world’s highest credit rating (Aa1 by Moody’s and AA- by both Fitch and S&P). We offer private banking services through our 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. Our insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia.