International Temporary Contractor, GWIM Compliance recruitment
Overview
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services.
The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,700 ATMs and award-winning online banking with nearly 29 million active users. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Responsibilities
- Providing Compliance advice with regard to the applicable rules and regulations of private wealth management from a Singapore perspective, or as it impacts the Singapore business.
- Providing Compliance advice on internal Compliance standards, policies and procedures such as in respect of suitability, cross-border matters, etc;
- Tracking all relevant meetings with regulators as it pertains to the GWIM business, ensuring that all issued raised in such visits, reviews and inspections are tracked, agreed escalated promptly and appropriately with relevant documents being provided on a timely basis;
- Reviewing and assessing all new alerts, circulars and other regulatory notifications that impact GWIM and ensuring that the necessary business and Compliance divisions are aware of the likely impact. This should include agreeing who will handle any responses required and tracking such responses;
- Assessing new requests for outsourcing and insourcing that impact GWIM, including liaison with senior Compliance and Business Management;
- Tracking any annual surveys and reviews required for regulators as it pertains to the GWIM business
- Participating in any appropriate regional and/or global Compliance group calls that determine strategies and priorities for Compliance.
- Developing relationships with the relevant Infrastructure functions that support the GWIM business, providing ad hoc training on relevant procedures that impact GWIM, as required;
- Developing and maintaining appropriate Management Information to inform Senior Management of pertinent matters;
- Liaising regularly with relevant businesses, other Compliance and other colleagues to remain abreast of developments;
- Working with Legal, Compliance and other Risk functions in responding to MAS and other regulatory enquiries, as required;
- Providing Compliance interface to the business for new projects on an as and when required basis;
- Liaising with AML colleagues on high risk or equivalent escalations;
- Undertaking regulator monitor of cross-border activity, suitability and other areas, as required;
- Participating in and provide input on new product approval processes;
- Reviewing and providing Compliance approval for marketing materials for the GWIM business;
- Providing Compliance support on sales related complaints; and
- Leading or assisting in any ad hoc projects as necessary.
Requirements
- A minimum of 8 years experience in Compliance, monitoring or auditing within a financial institution, regulator and/or similar environment;
- An ability to communicate clearly and effectively on local regulatory matters and outsourcing issues to key stakeholders at all levels;
- Strong knowledge of private banking laws and regulations, directives and regulatory processes
- The ability to work under pressure and within tight deadlines with no loss of accuracy;
- Proven analytical skills;
- Good organizational skills
- Wealth management Compliance experience preferred.