Compliance Specialist - Financial Crime

Woori Bank; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A leading financial institution in Singapore is seeking a Compliance Specialist (Financial Crime) to safeguard against financial crime risks. You will oversee crucial compliance tasks such as customer due diligence and monitoring suspicious activities, collaborating closely with internal teams. Ideal candidates have a degree in a relevant field and at least a year of experience in AML/CFT. This is a permanent position offering competitive compensation and a 5-day work week.

Qualifications

• Minimum of 1 year of relevant experience in AML/CFT within a financial institution.
• Familiarity with MAS regulations and industry best practices.
• Keen interest in compliance with a long-term commitment to the field.

Responsibilities

• Oversee and perform CDD/EDD/KYE assessments for compliance.
• Collaborate on AML/KYC documentary requirements.
• Investigate unusual transactions and file reports.

Skills

Attention to detail

Resourcefulness

Self-motivated

Team collaboration

Education

Degree in Finance, Business, Computer Science, or related field

Tools

Microsoft Word

Microsoft Excel

Job description

As a Compliance Specialist (Financial Crime), you will play a key role in safeguarding the bank against financial crime risks and ensuring compliance with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations. You will support the bank’s Financial Crime Compliance framework through effective due diligence, monitoring, investigation and advisory activities, while working closely with internal stakeholders and global teams.

Key responsibilities

• Customer Due Diligence (CDD) / Know Your Employee (KYE): Oversee and perform CDD/EDD/KYE assessments, ensuring that all customer information and employee profiles are accurate, complete and compliant with the bank’s internal policies and procedures.
• Document Review: Collaborate with front and back offices on FATCA/CRS and AML/KYC documentary requirements.
• Advisory Support: Handle escalations from the first line of defence on financial crime compliance matters.
• Transaction Monitoring and Name List Screening: Review and analyse transaction monitoring and name list screening alerts, identify suspicious activities, and elevate issues as needed.
• Investigation and Reporting: Investigate unusual and/or potentially suspicious transactions, preparing and filing of reports such as STRs and internal reports for submission to Global Financial Crime Compliance team.
• Training: Support the MLRO with conducting training sessions on AML/CFT, sanctions, CDD, and related topics.
• Stakeholder Collaboration: Work closely with front line teams to ensure compliance with AML/KYC requirements and provide guidance on adherence to the bank’s policies & procedures and regulatory expectations; support audits, regulatory examinations and internal reviews.
• Policy Update and Implementation: Assist in developing, updating and implementing AML/CFT policies, procedures and controls.
• Documentation and Record Keeping: Maintain comprehensive records of AML/CFT activities and ensure documentation is readily accessible for audits and reviews.
• Additional Duties: Perform other compliance-related tasks as assigned by management.

Requirements

• Educational Background: A degree in Finance, Business, Computer Science, or a related field.
• Professional Experience: Minimum of 1 year of relevant experience in AML/CFT within a financial institution.
• Regulatory Knowledge: Familiarity with MAS regulations and industry best practices.
• Technical Skills: Proficient in Microsoft Word and Excel.
• Personal Attributes: Keen interest in compliance with a long-term commitment to the field.
  Self-motivated, resourceful, and eager to learn.
  Strong attention to detail and ability to manage multiple tasks.

Additional Information

• Employment Type: Permanent, 5-day work week.
• Compensation: Candidates must include their current and expected monthly salary in their application.