Compliance Manager, AML Policy

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

Job summary

BANK OF CHINA LIMITED in Singapore seeks an AML/CFT regulatory advisor to act as subject-matter expert on MAS notices, guidelines, and sanctions. You will translate complex requirements into practical, risk-based solutions for various business units.

You will lead regulatory impact assessments, contribute to policy governance, and support the enterprise-wide risk assessments and customer risk methodologies. Experience with AML systems and KYC platforms is valued.

Qualifications

• Bachelor's degree in Law, Finance, Accounting, Business, Economics or a related discipline.
• Five to 10 years experience in AML/CFT, Financial Crime Compliance or Regulatory Compliance within a bank.
• Experience interpreting and implementing MAS AML/CFT requirements, including MAS Notice 626.
• Experience in AML/CFT/PF advisory and regulatory impact assessments.
• Experience supporting Enterprise-Wide Risk Assessments and Customer Risk Assessment methodologies.
• Knowledge of Transaction Monitoring frameworks and governance expectations.
• ACAMS, ICA or equivalent certification would be an advantage.

Responsibilities

• Serve as a subject-matter expert on AML/CFT/PF regulatory requirements including MAS Notices and Guidelines.
• Provide technical advice to Business Units translating complex requirements into practical, risk-based solutions.
• Research emerging regulatory developments and assess potential impact on the Bank.
• Lead or support implementation of MAS requirements, Head Office policies and governance.
• Conduct regulatory impact assessments and gap analyses for policies, procedures, systems and controls.
• Prepare management papers, reports and governance updates for Senior Management.
• Support the AML Committee with papers, reports and tracking actions.
• Prepare EWRA and CRA related reports and presentations for governance committees.

Skills

AML/CFT advisory

MAS guidance

Regulatory risk assessment

Policy development

CRA methodology

Transaction monitoring

Stakeholder management

Report writing

Education

Bachelor's degree in Law, Finance, Accounting, Business, Economics or related discipline

Tools

AML systems

KYC platforms

Transaction monitoring

Data analysis

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 andgovernance 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 relatedAML/CFT Guidelines
• AML/CFT/PF risk management,customer due diligence and Customer Risk Assessment
• Enterprise-Wide Risk Assessment
• Sanctions and targetedfinancial sanctions
• AML systems, KYC platforms,financial crime technology and Transaction Monitoring governance
• FATF Recom