VP / AVP, KYC Specialist - Client Onboarding, Private Banking, Consumer...

DBS Bank Limited; Singapore; On-site; SGD 80,000 - 110,000; Full time

Job summary

A leading banking institution in Singapore is seeking a KYC Specialist to provide expert compliance support regarding AML/KYC matters. The role involves advising the Front Office on onboarding requirements, performing independent risk assessments, and training junior team members. Candidates should have a Bachelor's degree and significant experience in KYC/AML, preferably within Private Banking. The position offers a competitive salary and benefits.

Benefits

Competitive salary

Dynamic working environment

Professional development opportunities

Qualifications

• 8-12 years of experience in KYC/AML areas, preferably in Private Banking.
• Familiar with MAS 626 and related regulatory requirements.
• Certifications like CAMS are advantageous.

Responsibilities

• Advise Front Office on onboarding requirements according to AML/KYC standards.
• Review customer's source of wealth and conduct due diligence checks.
• Train and coach junior team members on KYC processes.

Skills

Client-centric approach

Analytical skills

Interpersonal skills

Education

Bachelor's degree

Tools

AML compliance tools

Job description

Overview

Business Function: DBS’ Private Banking offers a one-stop, full-service touch-point for total banking requirements and provides the highest level of personalised banking. We have a team of dedicated, experienced investment advisors who identify opportunities in the various asset classes and employ the best strategies and product vehicles to cater to each client’s needs. Coupled with partnerships within the DBS network and with global institutions, we strive to build long-term relationships with our Private Banking clients in Asia by providing them with high quality, timely and extensive wealth management, investment and financial solutions.

Job Purpose: The KYC Specialist provides expert advice to Front Office in all KYC customer due dilignce (CDD) matters, and partner Front Office in the KYC CDD review process, from the beginning of client onboarding till approval. In addition, The specialist works closely with Group Compliance on specific AML/KYC policy and procedures as well as client risk profiling related matters. The KYC team reports to the COO Office and functions as the Compliance Expert for the Front Office.

Responsibilities

• Advise Front Office on the onboarding requirement in accordance to Bank’s AML/KYC standards and regulatory requirement, and partner with Front Office to meet the requirement.
• Review and corroborate customer\'s source of wealth (SOW) information submitted by RM, perform an independent review and risk rate customer in accordance to regulatory requirement as well as Group AML/CFT policy and procedures.
• Follow up with Front Office (RM & ARM) and other stakeholders on customer CDD related matters and for escalated/prioritised cases.
• Assess and ensure the relevance and completeness of CDD information supplied by Front Office and perform appropriate due diligence checks and information searches to comply with bank standards of client onboarding.
• Highlight deficiencies, suspicious AML or other non-compliance issues to relevant parties and management.
• Prepare reports for management reporting to facilitate relevant reviews and strengthen the control procedures and process.
• Train the Front Office on client documentation and KYC related subjects.
• Coach the junior team members and provide guidance in exception handling.
• Involve in projects for new processes or industry initiatives, and internal/external audits.
• Keep abreast of global AML/CFT developments that impact due diligence on wealth clients and ensure compliance with all other controls and processes.

Requirements

• Bachelor’s degree with at least 8-12 years of working experience in KYC/AML areas, risk or controls functions, preferably in Private Banking.
• Familiar with regulatory requirements pertaining to KYC/AML in a Private Banking setting, e.g., MAS 626. customer SOW due diligence etc
• Certifications in AML such as Certified Anti Money Laundering Specialist (CAMS) or International Association Diploma in Anti Money Laundering would be an advantage.
• Ability to be client centric while balancing business needs and controls.
• Excellent interpersonal skills to manage relationships with Front Office stakeholders.
• An efficient solutions provider with strong analytical and creative problem-solving skills.

Benefits

Apply Now

We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognizes your achievements.