Transaction Monitoring Manager (Compliance Hub)

The Bank of East Asia (BEA); Singapore; On-site; SGD 70,000 - 110,000; Full time

Job summary

The Bank of East Asia (BEA) in Singapore seeks an AML Compliance professional to review, analyse and dispose of alerts, and to perform enhanced monitoring of customer activities and transactions. You will engage with business units for information, investigate ISTRs, prepare monthly AML statistics, and oversee outsourced Transaction Monitoring services to ensure quality and governance.

Qualifications include a university degree, at least 3 years in AML/compliance roles in banks, familiarity with

Qualifications

• University degree.
• At least 3 years in AML Compliance type role in a bank, Singapore or international.
• Familiarity with AML regulation in Singapore and FATF best practices.
• Experience in AML-related activities (KYC/Compliance/Financial Crime), preferably Transaction Monitoring.
• Prior experience in performing KYC reviews is preferred.
• Proficient with WorldCheck and multiple bank system applications.
• Able to multi-task and meet tight turnaround timelines.

Responsibilities

• Review, analyze and dispose of alerts raised by the system and report in a timely manner.
• Perform enhanced monitoring on customer 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 statistics 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.

Skills

AML concepts

KYC

Transaction Monitoring

Multitasking

Regulatory knowledge

Education

University degree

Tools

WorldCheck

Banking systems

Microsoft Office

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.