Head, Financial Crime Compliance

The Bank of East Asia (BEA); Singapore; On-site; SGD 100,000 - 125,000; Full time

Job summary

A regional bank in Singapore seeks a leader for its Financial Crime Compliance Department. The ideal candidate will manage financial crime risks such as money laundering and fraud, ensuring compliance with regulatory standards. Required qualifications include a recognised university degree and a minimum of 12 years of experience in the financial services industry. This role involves overseeing compliance training, improving reporting practices, and maintaining effective financial crime systems.

Qualifications

• 12+ years of relevant experience in the financial services industry.

Responsibilities

• Lead Financial Crime Compliance Department to manage financial crime risk.
• Ensure compliance with regulations and standards set by the regulators.
• Oversee financial crime systems and enhance controls.
• Communicate financial crime issues with management.
• Ensure financial crime training for staff is effective.

Education

Recognised University Degree

Job description

Responsibilities

You will be based in Singapore and will be reporting to Group Compliance in Head Office and Senior Management. For this role, your key responsibility will be to lead Financial Crime Compliance Department to manage financial crime risk including money laundering / terrorism financing, fraud risks and anti-bribery and corruption risk.

Financial Crime Compliance

• Comply with all applicable regulations, rules, codes, guidelines and standards set by regulators and the Bank, and carry out duties with high integrity;
• Developing and/or continuously reviewing the policy and procedures to ensure they remain up-to-date and meet current statutory and regulatory requirements; and are effective in managing financial crime risks arising from their business;
• Overseeing all aspects of the financial crime systems which include monitoring effectiveness and enhancing the controls and procedures where necessary;
• Communicating key financial crime issues, including, where appropriate, significant compliance deficiencies, with management; and
• Ensuring financial crime training for staff is adequate, appropriate and effective.

Finance

• To accomplish the goals in a cost-effective manner

Customer Focus

• Provide support and solution to both internal customer and regulator
• To advise and provide guidance to Management and staff on Financial Crime Compliance related matters
• Point of Contact for MAS and regular reporting to Head Office Compliance Division

People

• To lead the Financial Crime Compliance Team

Others

• Responsible for ensuring the Annual Compliance Plan are met;
• Act as the focal point for the oversight of all activities relating to the prevention and detection of financial crime and providing support and guidance to the Bank to ensure that the risks are adequately identified, understood and managed;
• Review and assess filing of Suspicious Transaction Reporting;
• Ensuring staff training program is adequate, appropriate and effective; and
• Devise compliance testing program to detect deficiencies and ensure rectification are carried out.

Requirements

• Recognised University Degree
• Minimum 12 years of relevant experience in the financial services industry