The AML Compliance Specialist has the responsibility of managing & maintaining the Bank’s regulatory obligations relating to money laundering and terrorist financing activities. He/She will ensure all client KYC records are compliant with regulatory standards and will ensure high quality and timely completion of all client-level due diligence requirements during the life cycle of client relationships. He/She will own the end-to-end review process of existing clients by gathering of client KYC documents & make independent recommendations regarding AML risk at a client level.
- Identify, research for, and investigate the patterns, trends and anomalies in complex transactional and customer data to detect, prevent, mitigate and report suspicious activity related to money laundering, terrorist financing and structuring.
- Perform transaction monitoring after account activation; ensure timely escalation of alerts and file Suspicious Transaction Reports (STR) appropriately
- Responsible for ongoing monitoring on client relationship, for example, name screening review & assessment, client data maintenance and MIS reporting.
- Provide compliance advice/ recommendations to the Business and Support functions
- Assist Head Office to assure the Hong Kong business follows the standard required by the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA)
- Participate in the implementation and/or maintenance of processes and procedures to ensure compliance with current regulatory guidance, industry practice and BOS policy
- Provide relevant compliance reporting
- Ensure detailed and prompt escalation of all AML/CTF incidents and cases
- Aid in training
Working Experience & Requirements
- A Bachelor's degree in related discipline
- 2-3 years’ experience working in transaction monitoring and/or AML related area in financial institutions (private banking industry preferred)
- With strong AML knowledge
- Experience of implementing compliance programs
- Team player with the ability to work unsupervised
- Good analytical and investigative skills
- Experience in auditing a distinct advantage
- Good understanding of regulatory requirement
- Willingness to work on various compliance issues
- Must be able to adapt to working in a fast-paced environment
- Excellent verbal and written communication skills
- Exceptional presentation skills
- Strong organization skills and attention to detail
- Proficient in Microsoft Office Suite (Word, Excel, PowerPoint)
NOTICE TO THIRD PARTY AGENCIES Please note that we do not accept unsolicited resumes from recruiters or employment agencies. Any unsolicited resumes, including those submitted to hiring managers, are deemed to be the property of Bank of Singapore.