Compliance in Charge

BANK OF INDIA; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

BANK OF INDIA Singapore Branch is seeking a Compliance In-charge to lead the compliance program, AML/CFT initiatives and risk assessments across the bank’s operations.

You will act as the Money Laundering Reporting Officer, oversee KYC/CDD, monitor high‑risk clients and transactions, and advise senior management on regulatory changes by MAS and RBI, aligning internal policies with local requirements. You will also design training, coordinate audits, and liaise with authorities as needed.

Responsibilities

• Lead and oversee the establishment of a strong compliance culture and framework.
• Act as Money Laundering Reporting Officer for the Singapore Branch.
• Lead and manage AML initiatives and projects with timely monitoring and resolution of escalated AML/CFT issues.
• Supervise and approve KYC profiles and CDD for all risk ratings with a focus on high risk clients (Existing Client base).
• Review customer onboarding and monitoring transactions per AML/Sanction/Tax Offence framework in BOIS policies and procedures.
• Advise Senior Management on AML issues with cross‑unit interaction and AML compliance counsel.
• Draft and implement appropriate policies and procedures.
• Conduct periodic in‑house training for employees on Compliance/AML/CFT matters.
• Monitor the Compliance Yearly Work‑Plan (Compliance Program) and related activities on an accounting basis to improve effectiveness.
• Administer and handle day‑to‑day AML advisory/sanctions cases/issues to Business units.
• Follow up and resolve outstanding AML/CFT issues promptly.
• Participate in ad‑hoc projects and assist in audit deliverables (Sustainability Tracker).
• Create awareness and promote compliance with MAS, RBI regulations and internal requirements of BOIS and local management.
• Review Enterprise wide Risk Assessment with business units and report results to Senior Management.
• Coordinate with internal/external auditors on AML/CFT compliance issues.
• Coordinate with authorities regarding production orders from CAD and inquiries from IRAS, CPIB and Singapore Customs.
• Daily approval of transactions by High Risk Customers and those involving High Risk Countries by lower/medium/high risk escalations.

Job description

Job Description of Compliance In-charge

Key Accountabilities

1. To provide leadership, oversight and guidance for the establishment of a strong compliance culture and framework

2. Act as Money Laundering Reporting Officer for Singapore Branch

3. Lead and Manage AML initiatives and projects. Ensure timely monitoring and resolution of any escalated AML/CFT
issues

4. Supervise and approval of KYC profiles and CDD exercise of all risk ratings with a focus on high risk clients (Existing Client base)

5. Review customer on-boarding and monitoring transactions in accordance with the AML/Sanction/Tax Offence framework established within BOISG Policies and Procedures

6. Advising Senior Management (CE and DYCE) on and resolve potential AML issues with significant interaction

across all business units and advising on AML Compliance.

7. Draft and implement appropriate policies and procedures

8. Periodic in house training for employees on matters relating to Compliance/AML/CFT

9. To monitor the performance of the Compliance Yearly Work-Plan (Compliance Program) and relates activities on accounting basis, taking appropriate steps to improve its effectiveness.

10. Administer and handle day to day AML advisory/sanctions related cases/issues to Business units

11. Follow up and resolve any outstanding AML/CFT issues on a timely basis

12. Participate in any ad-hoc related projects and to provide assistance in the preparation of audit deliverables(Sustainability Tracker)

13. Creating awareness and promoting compliance with all applicable legislative requirements of Singapore regulatory requirements of MAS and RBI (Reserve Bank of India) and internal requirements set by Head Office and the local management of BOIS

14. Review of Enterprise wide Risk Assessment in co-ordination with business unit and submit the result of such review to Senior Management.

15. To co-ordinate with internal/external auditor on AML/CFT compliance issues

16. To co-ordinate with authority like regarding production orders from Commercial Affairs Department (CAD), enquires from other law enforcement agencies such as Inland Revenue Authority of Singapore (IRAS), Corrupt Practices Investigations Bureau (CPIB) and from SingaporeCustoms.

17. Daily approval of Transactions carried out by High Risk Customers and transactions to or from High Risk Countries by Low/Medium or High Risk customers escalated by business units for review and approval.