Source of Wealth Preparer, AML Ops

UNITED OVERSEAS BANK LIMITED; Singapore; On-site; SGD 60,000 - 90,000; Full time

Job summary

United Overseas Bank Limited is seeking an AML Ops - Source of Wealth Preparer in Singapore. You will conduct in-depth research to document wealth for high-risk customers, verify legitimacy, and prepare robust SOW reports for regulatory and internal use.

Collaborating with Relationship Managers and Compliance, you will identify red flags and maintain detailed records. The role requires a strong eye for detail, solid analytical ability, and awareness of evolving AML requirements.

Qualifications

• Bachelor's degree in Finance, Economics, Accounting, Law, Criminal Justice or related field.
• 1–3 years of AML operations, financial crime compliance or due diligence in financial services.
• Strong understanding of AML regs, including CDD/EDD and Source of Wealth requirements.
• Proven ability to conduct thorough research and synthesize data into reports.
• Excellent written and verbal communication; articulate complex concepts clearly.
• High attention to detail and accuracy in all work.
• Proficiency in using research tools and financial databases.
• Ability to work independently and in a team in a fast-paced environment.
• CAMS or AML certifications are a plus.

Responsibilities

• Conduct in-depth research from internal/external sources to identify and verify source of wealth for designated customers.
• Analyze financial information, business structures, and documents to narrate wealth accumulation.
• Prepare comprehensive Source of Wealth (SOW) reports with accuracy and templates.
• Collaborate with Relationship Managers, Compliance Officers and stakeholders to gather information.
• Identify red flags or inconsistencies and escalate to relevant teams.
• Maintain meticulous records of research and documentation per policies and regulations.
• Stay updated on evolving AML regulations and best practices; participate in training.
• Contribute to process improvements within AML Operations.

Skills

Communication

Attention to detail

Analytical thinking

Research tools

Financial databases

Education

Bachelor's degree in Finance, Economics, Accounting, Law, Criminal Justice, or related field

Tools

Regulatory databases

Open-source intelligence tools

Job description

The Anti Money Laundering(AML) Ops - Source of Wealth Preparer-is responsible for conducting thorough research and analysis to accurately document the source of wealth for high-risk customers, ensuring compliance with Anti-Money Laundering (AML) regulations and internal policies.

Job Responsibilities

Conduct in-depth research using internal and external sources (e.g., public records, open-source intelligence, regulatory databases, client-provided documentation) to identify and verify the legitimate source of wealth for designated customers.
Analyze complex financial information, business structures, and legal documents to construct a clear and concise narrative explaining the customer's wealth accumulation.
Prepare comprehensive Source of Wealth (SOW) reports, ensuring accuracy, completeness, and adherence to established templates and quality standards.
Collaborate effectively with Relationship Managers, Compliance Officers, and other stakeholders to gather necessary information and clarify discrepancies.
Identify and elevate potential red flags, suspicious activity, or inconsistencies observed during the SOW preparation process to relevant teams or management.
Maintain meticulous records of all research conducted and documentation reviewed in accordance with bank policies and regulatory requirements.
Stay updated on evolving AML regulations, industry best practices, and internal guidelines related to SOW requirements.
Participate in training sessions and continuous professional development to enhance expertise in AML and financial crime prevention.
Contribute to process improvements and efficiency initiatives within the AML Operations department.

Job Qualifications

• Bachelor's degree in Finance, Economics, Accounting, Law, Criminal Justice, or a related field.
• Minimum of 1-3 years of experience in Anti-Money Laundering (AML) operations, financial crime compliance, due diligence, or a similar role within the financial services industry.
• Strong understanding of AML regulations, particularly those related to customer due diligence (CDD) and enhanced due diligence (EDD), including Source of Wealth requirements.
• Proven ability to conduct thorough research, analyze complex data, and synthesize information into clear and coherent reports.
• Excellent written and verbal communication skills, with the ability to articulate complex financial concepts clearly.
• High level of attention to detail and accuracy in all work performed.
• Proficiency in using various research tools and financial databases.
• Ability to work independently and as part of a team in a fast-paced, deadline-driven environment.
• Strong analytical and problem-solving skills.
• CAMS or other relevant AML certifications are a plus.