Transaction Monitoring Manager

The Bank of East Asia (BEA); Singapore; On-site; SGD 60,000 - 90,000; Full time

Job summary

The Bank of East Asia (BEA) in Singapore seeks an AML Compliance professional with at least 3 years of experience in financial crime, KYC reviews, and regulatory knowledge. The role involves monitoring, investigation, reporting, and collaboration with business units to ensure adherence to FATF standards and Singapore regulations.

Responsibilities include managing alerts, ISTR filings, and overseeing outsourced monitoring functions, with emphasis on governance, training, and parameter reviews.

Qualifications

• Bachelor-level or higher in a relevant field.
• Minimum 3 years in AML/compliance in a bank or financial institution.

Responsibilities

• Review, analyze and dispose of alerts raised by the system and report in a timely manner.
• Perform enhanced monitoring on customers’ activities and transactions.
• Reach out to Business Units for additional information on the transaction where applicable.
• Investigate and file Internal Suspicious Transaction Reports (ISTR) to FCCD on suspicious customers and transactions.
• Prepare monthly AML statistics for report submission.
• Oversee outsourced Transaction Monitoring functions including performance monitoring and governance.
• Provide training and guidance to outsource service centre for proper closure of TB monitoring alerts.
• Assist on annual review of Transaction Monitoring Parameters.
• Maintain and update relevant manuals and procedures.

Skills

AML compliance

KYC reviews

Regulatory knowledge

Financial crime

Multi-tasking

Education

University degree

Tools

World-Check

Job description

• Review, analyze and dispose of alerts raised by the system and report in a timely manner.
• Perform enhanced monitoring on customer’s activities and transactions.
• Reach out to the Business Unit for additional information on the transaction where applicable.
• Investigate and file Internal Suspicious Transaction Reports (ISTR) to Financial Crime Compliance Department (FCCD) on suspicious customers and transactions.
• Prepare monthly AML statistic for report submission.
• Manage the oversight framework for outsourced Transaction Monitoring functions, including performance monitoring, quality assurance, issue escalation, and governance.
• Provide training, guidance and subject matter expertise to the outsource service centre to ensure proper closure for Transaction Monitoring alerts.
• Assist on the annual review of the Transaction Monitoring Parameters.
• Maintain and update all relevant manuals and procedures to ensure that they meet requirements.
• Collaborate and work in tandem with team members.

Requirements:

• University degree
• At least 3 years in AML Compliance type role in equivalent Singapore or international bank. Working familiarity with AML regulation in Singapore and FATF best practices.
• Relevant experience in AML-related activities in a Financial Institution. (KYC/Compliance/Financial Crime), ideally in Transaction Monitoring in a bank in Singapore or other FATF compliant countries e.g., Hong Kong.
• Prior experience in performing Know Your Customer (KYC) reviews is preferred.
• Microsoft office applications, Worldcheck and comfortable with multiple bank system applications.
• Able to multi-task and toggle within multiple tight turnaround timelines.