About this role
Bank of Singapore opens doors to new opportunities.
At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!
Bank of Singapore opens doors to new opportunities.
Start your career with Bank of Singapore as a Client Due Diligence Specialist!
This position within the Client Onboarding & Lifecycle Management is responsible for supporting our Front Office in a multi-year program to uplift the standards of the CDD write-up and documentation for our existing clients. The successful candidate is expected to be knowledgeable in CDD/AML principles to be able to analyse and identify gaps and risks in the existing KYC and Source of Wealth (SoW) information, and to be able to work well within a team while taking initiative and ownership over his/her own area of work.
Main Duties
Accurately identify gaps (if any) in client's source of wealth and assess the plausibility in line with MAS and the Bank’s expectations.
Conduct independent and meticulous reviews, incorporating plausibility checks and validation of Clients' Source of Wealth and source of funds.
Perform detailed calculations to support the client's source of wealth journey, i.e accumulation of wealth over time
Liaise with relationship managers for deficiencies of KYC information and obtain corroboration documentation.
Assist relationship managers to succinctly translate the SoW information into a professional and quality write up.
Report to the SoW remediation team lead for completion progress on a regular basis and escalate issues to Compliance where required.
Collaborate with auditors and relevant stakeholders on audit and assurance-related matters.
Coordination and collation of CDD related MIS.
Work Experience & Requirement:
At least 4 - 6 years of experience in AML and Source of Wealth (SoW) experience for Client Onboarding and Periodic Reviews in a private banking environment.
Knowledgeable and sensitive to the risks involved AML risks of private banking clients.
Strong analytical writing skills and strong communication skills, including the ability to deal with potentially contentious issues effectively.
Familiar with excel and preparation of statistics for reporting.
Education Requirements
Diploma/ Degree holder
ACAMs or ICA would be preferred
Other facts
About OCBC
OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include about 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.
OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.
OCBC's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
What you'll do
- The Client Due Diligence Specialist will support the Front Office in enhancing CDD documentation for existing clients. This includes identifying gaps in Source of Wealth information and conducting thorough reviews and validations.
Ready to join OCBC?
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