Contract AML/KYC Compliance Officer

CHINA MERCHANTS BANK CO., LTD; Singapore; On-site; SGD 50,000 - 70,000; Full time

Job summary

A leading financial institution in Singapore seeks an AML/KYC Compliance Officer to monitor transaction alerts and conduct investigations into suspicious activities. The ideal candidate has 1-3 years of relevant banking experience and is fluent in English and Mandarin. Responsibilities include client onboarding, compliance with regulatory requirements, and supporting AML system enhancements.

Qualifications

• 1-3 years of AML/KYC compliance experience in banks and/or CPA firms.
• Self-starter with excellent interpersonal and communication skills.
• Good analytical and problem-solving ability.
• Able to work independently and as part of a team.

Responsibilities

• Monitor daily transaction alerts and conduct investigations into suspicious activities.
• Review and disposition hits from name screening tools for compliance.
• Ensure proper Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD).
• Prepare and validate client data related to FATCA and CRS for reporting.
• Support operation and enhancement of AML systems.

Skills

Analytical skills

Interpersonal skills

Communication skills

Problem-solving

Fluency in English

Fluency in Mandarin

Education

Degree holder

Job description

Overview

Job Description

1. Monitor daily transaction alerts generated from AML systems, conduct investigations into suspicious activities, and escalate or file Suspicious Transaction Reports (STRs) as required.
2. Reviewed and disposition hits from name screening tools (e.g. sanctions, PEPs, adverse media), ensuring compliance with applicable international sanctions regimes (e.g. OFAC, UN, EU).
3. Review and monitor client onboarding and periodic reviews to ensure proper Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) for high-risk clients, including source of wealth/funds verification.
4. Prepare and validate client data related to FATCA and CRS for reporting purposes, ensuring data integrity and regulatory compliance.
5. Support the operation and enhancement of AML systems, including transaction monitoring and name screening platforms.
6. Assist in the execution and periodic update of the Enterprise-Wide Risk Assessment (EWRA), including risk identification and control evaluation.
7. Maintain and update AML/CFT policies and procedures in alignment with MAS Notice 626, head office standards, and regulatory requirements.
8. Assist in drafting and reviewing internal AML framework, policies, and procedures.
9. Support regulatory submissions, respond to queries from authorities, and assist in internal/external audits, inspections, and compliance reviews.
10. Provide AML/CFT advisory to business units, including sanctions, CDD documentation and requirements, control implementation and risk mitigation guidance.
11. Deliver AML/CFT training and awareness to staff across functions.
12. Keep abreast of regulatory developments and assist in implementing necessary control enhancements.
13. Perform all other duties as assigned by, or in the absence of, the Head or Deputy of Legal and Compliance Department.

Qualifications

1. A degree holder with at least 1-3 years of AML/KYC compliance experience in banks and/or CPA firms (Big 4), preferably in private banking/corporate banking.
2. Self-starter with excellent interpersonal and communication skills.
3. Good analytical and problem-solving ability.
4. Able to work independently and as part of a team.
5. Fluent in English and Mandarin.