Toa Payoh - Compliance Manager

This includes compliance with Sanctions, Anti Money Laundering (AML) and Countering of Terrorism Financing (CTF) requirements, licensing etc.

SIN Compliance department achieves this via:

• Working with the business to monitor and set appropriate policies, procedures and processes to ensure compliance with regulatory requirements, expectations and industry best practices.
• Providing official written and informal guidance and advice on Compliance matters to the respective businesses as and when required (e.g. on a client, product or transaction basis).
• Ensuring that appropriate training is given to all relevant staff on the Bank’s policies and procedures, AML/CFT and Sanctions related and regulatory
• Undertaking periodic, risk based, Compliance Monitoring to ensure the Bank’s policies and procedures are being complied with and significant non-compliance issues are escalated to management.
• Managing key Compliance systems such as Customer Screening, Transaction Screening and AML Monitoring.
• Managing the alert investigation process arising from the key Compliance systems and making the necessary escalations to management and disclosures to the relevant authorities.
• Responding to all regulatory requests to review and provide relevant information (e.g. customer, transaction, policy, procedures, training, compliance monitoring and process details) or cooperation in a timely manner.

Job Purpose

The incumbent is expected to carry out compliance tasks to ensure that the Bank meets its regulatory obligations and mitigates compliance risks and breaches, including fines, regulatory sanctions and reputational damage. Responsibilities include, but is not limited to, the following:

1. Dedicated compliance support for Corporate & Institutional Banking

(C&IB) compliance matters including AML/CFT and regulatory

advisory. Tasks include, but are not limited to:

• providing advisory and conducting investigations into escalations from relevant stakeholders relating to trade finance transactions.
• undertaking CDD reviews.
• timely conduct of compliance monitoring and clearance of Compliance systems alerts.
• oversight on relevant activities outsourced by Compliance.
• training, preparation of Compliance reports, maintenance of Compliance Registers, etc.

1. Provide cover support Wealth Management (WM) Compliance,

1. Provide support for Compliance systems upgrade/ implementation

1. Undertaking additional compliance tasks as delegated by Senior

Managers and COO.

1. AML/ CFT and Sanctions

• Conduct CDD review from financial crime perspective for purpose of client onboarding, trigger and periodic review
• Provide compliance guidance / advisory to business stakeholders as required and support Management in the CDD review.
• Timely review and clearance of alerts generated by the Compliance systems.
• Conducts holistic AML transaction monitoring/ investigations on relevant clients’ transactions.
• Prepare Financial Crime Risk Committee agenda and minutes.

1. Regulatory

• Assist in collation of periodic/ ad-hoc regulatory submissions to local authorities.
• Assist in tracking changes in regulations and the implementation of new/ amended processes to enable Branch’s adherence to the relevant regulations.

1. Managing the Regulatory Compliance & Monitoring frameworks

• Developing, updating and maintaining compliance policies and procedures.
• Identifying new policies and procedures required as applicable.

1. Compliance monitoring

• Timely conduct of scheduled compliance monitoring to provide assurance to local management with respect to adherence to relevant local laws and regulations and group and local compliance policies and procedures
• Liaising with relevant stakeholders to agree on the exceptions noted and remediation action.

1. Compliance Reporting

• Preparing Compliance reports for periodic submission.

1. Compliance Training

• Providing input, guidance and recommendations on regulatory compliance subjects to be included in training.
• To ensure awareness through appropriate internal and external communications.
• Prepare training materials and conduct training.

• Min a Bachelor’s degree from a reputable university.
• Compliance qualifications from an internationally recognized body is desirable.
• Min 5 years of compliance experience in the financial services industry, preferably banking in a recognized regulated market
• Prior experience and possessing good knowledge and understanding of trade finance and corporate banking products.
• Prior experience in conducting post-transactional monitoring/ investigations.
• Good understanding and awareness of regulatory requirements (Banking Act, Securities and Futures Act, Financial Advisers Act, FATCA, CRS etc) and international best practices.
• Analytical and attention to detail.
• Problem identification and solving skills.
• Good written and oral communication skills with ability to effectively communicate with stakeholders.
• Good time management skills and adherence to deadlines
• Negotiation and influencing skills.
• Ability to manage business expectations.
• Motivated and positive.
• Meticulous in delivery of work.
• Analytical and attention to detail.
• Showing and taking initiative.
• Self-starter and independent.
• Assertive and confident.
• Committed to creating a continuous improvement culture within the team and organization.
• Good interpersonal skills.
• A team player.
• Note that salary commensurate with relevant experience.