Senior Executive, Transaction Monitoring (Permanent / 6 months contract)

HL BANK; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A leading financial institution is seeking a Regulatory Compliance Officer to oversee and implement regulatory requirements related to AML/CFT, ensuring compliance with guidelines from local authorities. This role involves monitoring AML risks, refining internal controls, and fostering compliance awareness within the bank. You will collaborate across departments and provide training as needed. Ideal candidates have a strong understanding of regulatory practices and demonstrate effective communication and analytical skills.

Qualifications

• Knowledge in AML/CFT regulations and compliance practices.
• Experience in regulatory compliance roles.
• Ability to communicate effectively with diverse stakeholders.

Responsibilities

• Communicate new regulatory requirements to departments.
• Perform ongoing AML risk monitoring and escalate alerts as necessary.
• Ensure compliance procedures are followed by relevant departments.
• Update policies according to new MAS guidelines.

Skills

Regulatory compliance awareness

AML monitoring and analysis

Effective communication

Analytical reasoning

Education

Relevant bachelor's degree

Job description

Key Responsibilities

Regulatory Compliance

• As required, communicate relevant new and updated regulatory requirements to impacted departments on a timely basis.
• Communicate relevant consultation papers to impacted departments, and consolidate feedback for submission to MAS.
• Track and follow up on the timely implementation of new and revised relevant regulatory requirements
• Record status of implementation of applicable new regulations / regulatory updates.

AML/CFT

• Perform ongoing AML risk monitoring including but not limited to the review, analysis and disposal of alerts in accordance with the bank's processes, as well as timely escalation of alerts along with relevant information and due diligence.
• Work with the relevant stakeholders to review and recommend segmentation, rule and scoring changes, and ensure they are tested appropriately prior to implementation
• Able to analyse the latest AML typologies and trends and ensure that the existing AML framework continues to be effective in mitigating these new risks.
• Able to provide guidance to the stakeholders on AML typologies.
• Review unusual transactions and/or activities with an analytical mind and be firm (with strong reasoning) and assertive when being challenged.
• Reporting of approved Suspicious Transactions Reports by Head of Compliance to Suspicious Transaction Reporting Office of the Commercial Affairs Department in the Singapore Police Force for the bank.
• Covering the approval for TT and also Fund Transfers of High Risk customers including large cash deposits
• Provide AML/CFT related training to HL Bank staff when arises.
• Upload entities / names from local authorities such as Commercial Affairs Department, Corrupt Practice Investigation Bureau and Singapore Police Force into Safewatch.

Internal Controls

• Perform checks on relevant departments so as to ensure that procedures are complied with.
• Review and propose enhancement to procedures where necessary.

Regulatory

• Ensure new/revised MAS guidelines, consultation papers and other regulatory related matters are reported, reviewed and the relevant policies and guidelines are updated timely.

Managerial (team/group responsibilities)

• N/A

Organizational (organizational responsibilities)

• To carry out any other duties as directed by Company Management.
• Subject matter expertise in financial crime compliance
• Inculcate a strong awareness of financial crime compliance controls at HL Bank

We are a leading financial institution in Malaysia backed by a century of entrepreneurial heritage. Providing comprehensive financial services guided by a Digital-at-the-Core ethos has earned us industry recognition and accolades for our innovative approach in making banking simpler and more effortless for our customers. Our digital and physical offerings span across a vast nationwide network in Malaysia, strengthened with an expanding regional presence in Singapore, Hong Kong, Vietnam, Cambodia, and China.

We seek to strike a balance between diversity, inclusion and merit to achieve our mission of infusing diversity in thinking and skillsets into our organisation. Candidates are assessed based on merit and potential, in line with our mission to attract and recruit the best talent available. Expanding on our “Digital at the Core” ethos, we are progressively digitising the employee journey and experience to provide a strong foundation for our people to drive life-long learning, achieve their career aspirations and grow talent from within our organisation.

Realise your full potential at Hong Leong Bank by applying now.

*Only shortlisted candidates will receive further notification.