Client Due Diligence Specialist

Bank of Singapore Limited; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A leading financial institution in Singapore is seeking a Client Due Diligence Specialist to enhance their Client Onboarding and Lifecycle Management. The role requires expertise in CDD/AML principles, analytical skills to identify gaps in client information, and strong communication abilities. The successful candidate will conduct detailed reviews of clients' sources of wealth and collaborate with relationship managers. A diploma or degree is required, with ACAMs or ICA preferred, along with 4-6 years of relevant experience.

Qualifications

• 4-6 years of experience in AML and Source of Wealth for Client Onboarding.
• Ability to analyze and identify gaps in KYC information.
• Sensitive to AML risks in private banking.

Responsibilities

• Identify gaps in client's source of wealth.
• Conduct independent reviews for plausibility of SoW.
• Liaise with relationship managers for KYC deficiencies.
• Report to the SoW remediation team lead regularly.
• Assist in producing quality write-ups of SoW information.

Skills

Analytical writing skills

Strong communication skills

Knowledge of CDD/AML principles

Familiarity with Excel

Education

Diploma / Degree

ACAMs or ICA certification

Job description

Bank of Singapore opens doors to new opportunities.
Start your career with Bank of Singapore as aClient Due Diligence Specialist!

This position within the Client Onboarding & Lifecycle Management is responsible for supporting our Front Office in a multi-year program to uplift the standards of the CDD write-up and documentation for our existing clients. The successful candidate is expected to be knowledgeable in CDD/AML principles to be able to analyse and identify gaps and risks in the existing KYC and Source of Wealth (SoW) information, and to be able to work well within a team while taking initiative and ownership over his/her own area of work.

Main Duties

• Accurately identify gaps (if any) in client's source of wealth and assess the plausibility in line with MAS and the Bank’s expectations.
• Conduct independent and meticulous reviews, incorporating plausibility checks and validation of Clients' Source of Wealth and source of funds.
• Perform detailed calculations to support the client's source of wealth journey, i.e accumulation of wealth over time
• Liaise with relationship managers for deficiencies of KYC information and obtain corroboration documentation.
• Assist relationship managers to succinctly translate the SoW information into a professional and quality write up.
• Report to the SoW remediation team lead for completion progress on a regular basis and elevate issues to Compliance where required.
• Collaborate with auditors and relevant stakeholders on audit and assurance-related matters.
• Coordination and collation of CDD related MIS.

Work Experience & Qualifications

• At least 4 - 6 years of experience in AML and Source of Wealth (SoW) experience for Client Onboarding and Periodic Reviews in a private banking environment.
• Knowledgeable and sensitive to the risks involved AML risks of private banking clients.
• Strong analytical writing skills and strong communication skills, including the ability to deal with potentially contentious issues effectively.
• Familiar with excel and preparation of statistics for reporting.

Education Requirements

• Diploma / Degree holder
• ACAMs or ICA would be preferred