Compliance Associate

SHINHAN BANK; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

SHINHAN BANK in Singapore is looking for an experienced AML Compliance Officer to oversee compliance obligations, manage client interactions, and lead AML/CFT risk assessments. The ideal candidate will hold a Bachelor’s degree in Finance or a related field and have at least 2 years of relevant experience in the banking sector. Fluency in Korean is preferred for effective communication with Korean clients and counterparts. This position is pivotal in ensuring adherence to regulatory requirements, encompassing the management of Suspicious Transaction Reports and internal controls.

Qualifications

• Bachelor’s degree in Finance, Business, Law, or Accounting is required.
• AML-related certifications like ACAMS or ICA are preferred.
• Minimum of 2 years' experience in banking or financial services.
• Strong knowledge of MAS AML/CFT Guidelines and FATF standards is essential.
• Business-level fluency in Korean preferred.

Responsibilities

• Advise on suitability and compliance obligations.
• Oversee Statement of Wealth and sales controls preparation.
• Manage client complaints and ensure regulatory compliance.
• Review transaction monitoring alerts and escalate issues.
• Lead AML/CFT risk assessments and enhance internal controls.

Skills

AML knowledge

Client management

Regulatory compliance

Korean fluency

Education

Bachelor’s degree in Finance, Business, Law, Accounting

AML-related certifications (ACAMS, ICA)

Job description

• Advise on suitability, sales practices, and compliance obligations—including conflicts of interest and fair dealing.
• Oversee the preparation of Statement of Wealth (SOW) documents, target market assessments, and sales controls.
• Manage client complaints and regulatory breaches, ensuring prompt escalation of misconduct.
• Oversee and review transaction monitoring alerts, conduct in-depth investigations, and identify potential suspicious activities requiring escalation and filing of Suspicious Transaction Reports (STRs).
• Manage and provide guidance on CDD and Enhanced Due Diligence (EDD) for new and high-risk customers, including complex ownership structures and cross-border relationships.
• Ensure the accurate and timely preparation, review, and submission of STRs to the Monetary Authority of Singapore (MAS) and the Suspicious Transaction Reporting Office (STRO), in accordance with regulatory requirements.
• Lead AML/CFT risk assessments, maintain and enhance internal control procedures, and drive remediation efforts to address identified compliance gaps.

Requirements

• Bachelor’s degree in Finance, Business, Law, Accounting, or a related discipline.
• AML-related certifications are preferred such as ACAMS, ICA, or equivalent.
• Minimum 2 years of relevant experience in banking or financial services industry; hands‑on experience in AML/CFT or financial crime compliance is highly preferred.
• Strong working knowledge of MAS Notice 626, MAS AML/CFT Guidelines, and international AML/CFT standards (e.g. FATF).
• Business-level fluency in Korean is preferred, with the ability to effectively communicate with head office counterparts and Korean clients.