Client Onboarding Officer

Julius Baer; Singapore; On-site; SGD 110,000 - 170,000; Full time

Job summary

Julius Baer Singapore is seeking an experienced Client Onboarding Officer to review and approve AML/KYC risk for various client relationships and ensure compliance with internal policies and MAS guidelines.

You will lead a team of 5–8 onboarding officers, collaborate with Front Office, Legal, Compliance, and Risk Management, and escalate higher risk cases to Compliance when needed.

Qualifications

• At least 8 years' experience in KYC onboarding or AML, preferably in Private Banking.
• Strong understanding of Private Banking and Wealth Management.
• Solid knowledge of MAS 626 Notice & Guidelines and related regulations.

Responsibilities

• Review and approve onboarding of new client relationships and accounts; mitigate risks.
• Provide advice on KYC/CDD matters to Front staff and management.
• Escalate higher-risk cases to Compliance and liaise with Head Office and overseas offices.
• Lead a team of 5–8 Client Onboarding Officers; perform quarterly quality checks.

Skills

KYC onboarding

AML experience

Private Banking

MAS 626 knowledge

Excel skills

People management

Stakeholder management

English communication

Job description

At Julius Baer, we celebrate and value the individual qualities you bring, enabling you to be impactful, to be entrepreneurial, to be empowered, and to create value beyond wealth. Let’s shape the future of wealth management together.

GENERAL DESCRIPTION
The Client Onboarding Officer is part of the COO Division of Julius Baer Singapore (BJBS) in the Client Onboarding Team.

The Client Onboarding Officer is responsible for reviewing and assessing AML/KYC risk for Standard and Medium Risk client relationships booked in BJBS, and escalating higher risk accounts to Compliance, in accordance with internal policies and procedures.

YOUR CHALLENGE

KEY FEATURES OF THE POSITION

Business Management

• Review and approve the onboarding of new client relationships and accounts for Individuals, Domiciliary Companies, Legal Entities, Financial Institutions, Trusts, Fund, External Asset Managers, and ensure compliance with the Bank's policies & procedures, MAS 626 Notice and Guidelines, and to mitigate risks (legal, regulatory and/or reputational) for the Bank
• Review and assess the adequacy of the Source of Wealth narrative and corroboration submitted by the Front for new to bank prospects and existing clients opening new accounts
• Review and assess the risk of opaque legal structures
• Address true matches for Sanctions and other AML/CFT risks identified during the Bank's Name Screening process at client onboarding
• Provide advice to Front employees on KYC/CDD- related matters
• Provide advice to the management and local risk committees on the AML/CFT risk of a client relationship
• Strong commitment to quality service and a desire to drive continuous process improvement initiatives

People Management

• Lead a team of 5-8 Client Onboarding Officers
• Support Senior Management in ensuring client relationships onboarded comply with regulations and internal policies, thus actively manage operational, regulatory and reputational risks

Client Management (internal & external)

• Build strong relationships with key stakeholders such as the BJBS Front Office, Legal, Compliance and Risk Management teams
• Assess AML/KYC risk and approve or reject new account opening applications for Standard and Medium Risk client relationships in accordance with internal policies and procedures. Where applicable, elevate higher risk client relationships to Compliance for review
• Work closely with Head Office and overseas offices (particularly Hong Kong, Dubai, and Thailand) to provide input on account opening

Regulatory Responsibilities &/OR Risk Management

• Demonstrate appropriate values and behaviours, including but not limited to standards on honesty and integrity, due care and diligence, fair dealing (treating customers fairly), management of conflicts of interest, competence and continuous development, adequate risk management, and compliance with applicable laws and regulations
• Ensure that KYC/CDD issues are adequately identified, assessed, and documented
• Where KYC/CDD measures cannot be completed, ensure that the client relationship is not established, and there is timely escalation to AML Controls where suspicious activity/conduct noted
• Ensure timely assistance and cooperation is rendered to MAS or law enforcements' request for information

Supervisory Responsibilities

• Manage first level escalations from the team and assess if further escalation to Head of Client Onboarding required
• Conduct quality checks on approved accounts on a quarterly basis to assess if there are knowledge or systemic gaps to review with the team

YOUR PROFILE

SKILLS REQUIREMENTS OF THE POSITION

Professional and Technical

• At least 8 years' experience in either KYC Onboarding or AML, preferably in Private Banking
• A good degree of understanding of the Private Banking and Wealth Management industry
• Strong knowledge of MAS 626 Notice & Guidelines
• A good degree of understanding of the private banking or trust industry
• Experience in preparing reports and strong excel skills
• Prior people management experience preferred

Personal and Social

• Strong personality with good organisational skills
• Excellent communication skills
• Ability to effectively manage internal and external stakeholders
• Ability to prioritize and work on multiple assignments concurrently
• A strong sense of responsibility and impeccable integrity
• Strong analytical skills
• Excellent command of spoken and written English, other languages are an advantage