Compliance Manager/ Assistant Manager

State Bank of India, Singapore; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A leading financial institution in Singapore is seeking a Compliance Officer to provide advisory on regulatory compliance and anti-money laundering. The ideal candidate will have a degree in relevant fields and experience in compliance functions. Responsibilities include conducting regulatory reviews, providing training, and liaising with regulatory bodies. Excellent communication skills and a proactive approach are essential for success in this competitive environment.

Qualifications

• Degree holders in relevant fields preferred.
• Experience in Compliance function of financial institutions is preferred.

Responsibilities

• Provide compliance advisory in areas of Banking Act, Securities and Futures Act, and Financial Advisers Act.
• Conduct Regulatory Review in accordance with the Compliance Review and Training Plan.
• Provide trainings in Regulatory and AML/CFT Compliance.

Skills

Communication

Interpersonal Skills

Regulatory Compliance

Education

Degree in Accounting

Degree in Banking & Finance

Degree in Business

Degree in Law

Job description

RESPONSBILITIES:

Regulatory Compliance

• Provide compliance advisory in areas of Banking Act 1970 (“BA”), Securities and Futures Act 2001 (“SFA”) and Financial Advisers Act 2001 (“FAA”) to all Business Units and departments.

• Update Management on all MAS and other regulatory bodies’ notifications that will impact the Bank and perform gap analysis (when required).

• Provide advice on compliance-related initiatives such as new product launch, review of marketing materials, etc.

• Develop/ periodic review policies/manuals/procedure notes under Compliance Department’s purview.

• Conduct Regulatory Review in accordance with the Compliance Review and Training Plan

• Attend to Representative Notification Framework related matters, including Notification and Cessation of Appointed Representative under the SFA/FAA.

• Coordinate, liaise, handle enquiries and ad-hoc/periodic submissions to Head Office and MAS promptly.

Anti-Money Laundering Compliance

• Provide advisory/clearance of daily payment gateway screening hits and periodic name screening hits in relation to sanctions and adverse news (when required).

• Perform onboarding and periodic review on customers.

• Review suspicious and irregular transactions in customers’ accounts and conduct basic inquiry into such transactions with a view to filing a Suspicious Transaction Report to the Suspicious Transaction Reporting Office (“STRO”) when appropriate.

• Address ML/TF queries from Business Units.

• Conduct Enterprise-Wide Risk Assessment with Business Units within the Bank.

• Undertake overall responsibility of the name screening tool, including review and reporting of true hits for follow-up actions.

Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standard (CRS)

• Liaise with third party vendor on FATCA/CRS application, organize and coordinate data generation/information received from Operations/IT Department for annual submission to IRAS.

• Assist with FATCA / CRS compliance requirements.

Others

• Provide trainings in the areas of Regulatory and AML/CFT Compliance.

• Provide cover for team members within Compliance Department in assigned areas during their leave of absence.

• Undertake other duties as assigned.

REQUIREMENTS

• Degree holders, preferably in Accounting, Banking & Finance, Business or Law.

• Relevant experience in Compliance function of a financial institution/regulatory body covering banking laws, particularly in SFA / FAA, FATCA/CRS and/or, AML/CFT requirements preferred.

• Candidates with certifications such as Diploma in Compliance or Association of Certified Anti-Money Laundering Specialist (ACAMS) would be viewed favourably.

• Excellent communication and interpersonal skills with ability to interact with all levels of staff and management.

• Have the drive, energy and perseverance to succeed in a competitive market environment.