Compliance Manager, AML Policy

Bank Of China Limited; Singapore; On-site; SGD 130,000 - 190,000; Full time

Job summary

Bank Of China Limited is seeking an AML/CFT regulatory advisor with strong MAS knowledge and a track record in financial crime compliance. The role requires translating complex MAS requirements into practical controls, guiding governance, and coordinating across business units.

The candidate will support enterprise risk assessments, policy development, and regulatory reporting, while coordinating with Head Office when needed. Excellent stakeholder engagement is essential.

Qualifications

• Bachelor's degree in Law, Finance, Accounting, Business, Economics or related discipline.
• 5–10 years of AML/CFT or regulatory compliance experience in a bank or financial institution.
• Experience interpreting MAS AML/CFT requirements and MAS notices/guidelines.
• Experience advising on regulatory impact assessments, gap analyses and policy reviews.
• Experience supporting Enterprise-Wide Risk Assessments and Customer Risk Assessment methodologies.
• Knowledge of transaction monitoring governance and regulatory expectations.
• ACAMS, ICA or equivalent certification is advantageous.

Responsibilities

• Serve as SME on AML/CFT/PF regulatory requirements including MAS Notices, Guidelines and Circulars.
• Provide technical/regulatory interpretation to business units; translate requirements into practical solutions.
• Research regulatory developments and assess impact on the Bank.
• Lead or support MAS regulation updates; conduct impact assessments and gap analyses.
• Draft and maintain AML policies, standards and guidance notes aligned with MAS/FATF.
• Support EWRA and CRA design, validation, and reporting to governance bodies.
• Assess new products for AML/TF/PF risk and participate in product approvals.
• Govern AML systems: KYC, transaction monitoring, and name screening; oversee access management.
• Prepare governance papers, reports and management information for senior management and committees.
• Build relationships with business units and technology to implement AML initiatives.

Skills

AML/CFT regulatory expertise

Regulatory interpretation

Stakeholder management

Policy drafting & governance

Regulatory change management

Education

Bachelor’s degree in Law/Finance/Business/Economics

Tools

KYC platforms

Transaction monitoring systems

Job description

Key Responsibilities

AML/CFT/PF Regulatory Advisory

• Serve as a subject-matter expert on AML/CFT/PF regulatory requirements, including MAS Notices, Guidelines and Circulars, targeted financial sanctions (TFS), and relevant industry practices.
• Provide technical advice and regulatory interpretation to Business Units, Operations and Support Functions, translating complex requirements into practical, risk-based solutions.
• Research emerging regulatory developments, financial crime typologies and enforcement actions, and assess their potential impact on the Bank.

Regulatory Change Management

• Lead or support the implementation of new and revised MAS requirements, Head Office policies and internal governance requirements.
• Conduct regulatory impact assessments and gap analyses to identify required changes to policies, procedures, systems and controls.
• Develop implementation plans, coordinate stakeholders, track action items and prepare progress updates and governance reports for Senior Management and committees.

Policy, Framework and Governance

• Draft, review and maintain AML/CFT/PF policies, standards, procedures and guidance notes, ensuring alignment with MAS Notice 626, applicable MAS Guidelines, FATF Recommendations and Head Office requirements.
• Recommend enhancements to strengthen the Bank’s AML/CFT/PF framework and maintain current, consistent regulatory inventories and documentation.
• Support the Bank’s AML/CFT/PF Committee by preparing papers, reports, presentations and management information, and by tracking decisions and action items.
• Prepare management reporting and Key Risk Indicators relating to AML/CFT/PF governance.

Risk Assessment Frameworks

• Support the development, execution and periodic refresh of the Bank’s Enterprise-Wide ML/TF/PF Risk Assessment (EWRA), including assessment of inherent risks, control effectiveness and residual risks.
• Prepare EWRA reports and presentations for relevant governance committees.
• Support the design, review and enhancement of the Customer Risk Assessment (CRA) methodology and Customer Risk Rating framework, including risk factors, scoring methodologies and risk weightings.
• Perform periodic validation and back-testing, and recommend enhancements based on regulatory developments, data analysis and emerging financial crime risks.

New Products and Business Initiatives

• Conduct AML/CFT/PF and sanctions risk assessments for new products, services, delivery channels and strategic initiatives.
• Identify ML/TF/PF risks, recommend appropriate mitigating controls and participate in New Product Approval Process discussions.

AML Systems and Transaction Monitoring Governance

• Support governance of AML-related systems, including customer risk assessment, transaction monitoring and name screening systems, as well as user access management.
• Participate in system enhancements, requirements gathering, User Acceptance Testing and post-implementation reviews.
• Provide compliance input on transaction monitoring scenarios, threshold tuning and monitoring coverage from a regulatory and risk management perspective.
• Assess the impact of new products, emerging typologies and regulatory developments on the Transaction Monitoring programme, and participate in periodic governance and effectiveness reviews.

Stakeholder Management

• Build strong working relationships with Business Units, Operations, Technology, Internal Audit and Head Office.
• Collaborate across functions to implement AML/CFT/PF initiatives and provide timely, practical and commercially balanced guidance.

Requirements

Qualifications and Experience

• Bachelor’s degree in Law, Finance, Accounting, Business, Economics or a related discipline.
• Five to 10 years of relevant experience in AML/CFT, Financial Crime Compliance or Regulatory Compliance within a bank or financial institution.
• Demonstrated experience interpreting and implementing MAS AML/CFT requirements, including MAS Notice626 and related Guidelines.
• Experience in AML/CFT/PF advisory, regulatory impact assessments, gap analyses and policy reviews.
• Experience supporting Enterprise-Wide Risk Assessments and the development or enhancement of Customer Risk Assessment methodologies.
• Working knowledge of Transaction Monitoring frameworks, governance and regulatory expectations.
• Experience preparing papers and reports for Senior Management or governance committees.
• Experience reviewing new products or participating in AML technology and system enhancement projects would be advantageous.
• ACAMS, ICA or an equivalent professional certification would be an advantage.

Technical Knowledge

• MAS Notice 626 and related AML/CFT Guidelines
• AML/CFT/PF risk management, customer due diligence and Customer Risk Assessment
• Enterprise-Wide Risk Assessment
• Sanctions and targeted financial sanctions
• AML systems, KYC platforms, financial crime technology and Transaction Monitoring governance
• FATF Recommendations

Key Competencies

• Strong analytical, critical-thinking and problem-solving skills.
• Strong policy drafting, report-writing and documentation capabilities.
• Ability to interpret complex regulatory requirements and translate them into practical business solutions.
• Effective stakeholder management, communication and influencing skills across all levels of the organisation.
• Strong organisation and project management skills, with the ability to manage multiple priorities.
• Proactive and self-motivated, with sound judgement, integrity and attention to detail.

Language Proficiency

• Excellent command of written and spoken English.
• Proficiency in written an spoken Mandarin is required, as the role involves reviewing Head Office policies and documents prepared in Chinese, drafting bilingual correspondence where required, and liaising regularly with Chinese-speaking stakeholders.