Private Bank - Client Onboarding Specialist (12 mths contract, convertible)

Job Purpose

• To focus on Anti-Money Laundering framework and perform Know Your Customer Due Diligence (AML/KYC).
• To manage the regulatory risks involved in both on-boarding new to bank clients and regular review of existing clients with special attention to meeting the regulatory AML and KYC requirements.
• To support Team Lead, Business units, and Support Units.
• To carry out any other duties that may be assigned by the superior from time to time.

Responsibilities

• Liaise with Front Office on client account opening/periodic KYC.
• Review new account opening applications/periodic KYC and ensure completeness, accuracy, and sufficiency of KYC information and documentation are obtained in adherence to policies and procedures (P&P).
• Follow up with Business Units on document deficiency (on-boarding and periodic KYC).
• Ensure evidence of each customer’s identity and other relevant documents received are in order before on-boarding of account.
• Perform name screening via AML System, Dow Jones, and Factiva.
• Evaluate screening results and client profile to identify any true match adverse news and identify any increased risk factors involved pertaining to the adverse news (i.e., update AML System).
• Ensure that CDD activities comply with the AML/CFT regulations/policy.
• Seek relevant RMs' inputs and provide clear elaboration and justification on the support of the KYC file's submission by Front Office (new account and periodic review of existing account).
• Perform customer static data maintenance and updates of signatures/account operating mandate; ensure supporting documents for static data and signature update are documented and filed at Branch filing system.
• Prepare and facilitate periodic reports for Management review (Document Deficiency, Periodic KYC Overdue, On-Boarding & Periodic Review Control List, Team Performance, CRS/FATCA, etc.).
• Perform Self-Inspections and Compliance Self-Evaluation.
• Assist in P&P review and managing ad-hoc projects, audit inspections, and remediation exercise.
• Assist in tracking of issues/queries escalated by Front Office or any other Departments.

Requirements

• Diploma/Degree holder with 3 - 5 years of work experience in areas of account opening and account review compliance.
• Possess good understanding of business operations, control, and risk management in areas related to account opening/customer due diligence.
• Well versed in the AML/CFT framework, OFAC, and MAS regulation.
• Strong analytic skills, prudence, and proactive with attention to details.
• Strong time management and follow-up skills.
• Good communication and interpersonal skills to effectively interact with colleagues and external parties of all levels.
• Singaporeans only.