Anti-Money Laundering/Sanctions & Terrorist Financing Officer recruitment
Our ability to give world-class service and insight is a direct result of the quality of people who make up our Asia teams. A career at Coutts rewards and stimulates exceptional individuals to become the very best they can be.
We partner exceptional people; we need exceptional people.
Purpose of the Role:
To support the Regional Head of Anti-Money Laundering (AML)/Sanctions Terrorist Financing (STF) Asia by dealing with due diligence, money laundering and ABC (Anti-Bribery Corruption) enquiries from the business, and undertaking CDD related tasks and ad hoc support as required for the Singapore business.
Key Accountabilities:
Accountable for responding to AML/STF/ABC enquires from the business, which includes but is not limited to:
• Dealing with routine and complex due diligence and money laundering queries from Coutts Singapore front line and management
• Ensuring that appropriate Group and Wealth Divisional policies and procedures are followed for all client, business and bank responsibilities
• Ensuring knowledge of money laundering prevention rules and regulations are kept up to date
• Acting in accordance with the relevant regulatory requirements and standards
Accountable for leading research on AML/STF/ABC issues and supporting other AML/STF team members, which includes but is not limited to:
• Undertaking specific CDD tasks for High Risk Clients including PEPs and making appropriate recommendations
• Undertaking initial assessment of Suspicion Activity Reports and prepare disclosures to relevant authorities where appropriate
• Review of level 2 client screening and transaction monitoring
• Undertaking ad-hoc, high priority projects and administration duties as required
• Undertaking due diligence reviews as required
• Assisting in the delivery of AML/STF training and communications
• Supporting in the collation of AML/STF MI information for the region
Note: All key accountabilities of this role will extend as appropriate to ABC (Anti-Bribery Corruption) and wire transfer (FATF 7) reporting.
Deliverables:
Anti-Money Laundering and Counter Terrorist Financing
• Review opening of High Risk accounts in accordance with local and Group requirements
• Conduct regular transaction monitoring and payment filtering exception, including follow up with local business functions where necessary
• Conduct regular sanctions or terrorist name searches
• Active management of Higher Risk Clients through targeted reviews
• Understand the development of Singapore AML and anti-terrorism law /regulations and review if there is any impact to the Business. Implement any new process if necessary.
• Conduct / assist with staff induction and AML trainings
• Review and investigate Payment Filter (level 2) and escalate to the MLRO when required.
• Review for process and system improvements to enhance AML risk monitoring process or making it more efficient
• Supports Regional Head of AML/ STF Asia in AML Change and related projects
Ad hoc Exercise and Administration of AML Function
• Preparation of management reports for submission to Regional and Group management
• Preparation of materials for in-house trainings conducted by AML Compliance
Key Requirements for the role
• University graduate with minimum of 5 years working experience with at least 3 years in compliance / risk / internal audit functions within a bank, preferably focusing on KYC/AML
• Ability to liaise with a wide range of individuals
• A good understanding of AML/STF/ABC regulatory requirements in policies ideally within a global financial institution
Other Significant Role Requirements:
• Delivery Focused: A personal commitment and ability to successfully deliver both BAU and ad hoc accountabilities to the highest standards, while managing multiple agendas and stakeholder requirements.
• Problem Solving and Analysis: The ability to analyse and evaluate multiple sources of information, alternatives and associated consequences, in order design solutions (both tactical and strategic) that effectively address a range of complex regulatory issues.
• Commercial Acumen: The ability to assimilate both complex regulatory policies and procedures and challenging business issues in order to provide risk based AML/STF solutions that both address regulatory needs and are appropriate to the business.
• Communicating Effectively: The ability to effectively communicate on topics such as strategy, policy, procedures and ad hoc initiatives to a variety of different audiences through both written and verbal communication mediums.
• Knowledge of External Environment: A personal commitment to ensure they are aligned to the developments in their external environment, for example, with respect to regulators, industry practice, benchmarking or competitors.
We offer an excellent total compensation package, learning and development opportunities and a flexible benefit programme designed to help you manage and balance your own work-life priorities.