AML/CFT Business Risk & Control
Assist Head of Governance to proactively drive risk and control initiatives to ensure sound process are in place to minimize ML/FT risks and propose adequate controls in first line of defence for Private Banking Singapore.
Assist Head of Governance in ensuring that all AML/CFT controls and processes are aligned with Group wide and Private Banking Regional & Singapore standards and are being managed appropriately in a proactive, risk based and disciplined manner to meet internal and external regulatory requirements.
Responsible in managing the on-boarding of new clients and on-going review of existing clients in accordance with the AML/KYC policy and due diligence requirements including source of wealth corroboration and reviewing complex entities or structures, PEPs, adverse news and sanctions.
Responsible in providing the Modus Operandi for preparation of preliminary investigation reports on transactions and/or accounts inclusive of STRs and actively supports Group AMLA regulatory requests.
Ensure that there are appropriate avenues for any suspicious client activity or specific transactions to be swiftly escalated to appropriate parties for investigation and resolution including making appropriate STR reports.
Address concerns and issues of internal stakeholders on AML related matters. To conduct joint process walk-throughs, small workshops and integrated training on new or key risk AML controls in Private Banking Singapore.
Continuously assess adequacy of existing surveillance / monitoring model for AML, and to propose or provide feedback of new model with relevant parameters / thresholds to be in line with regulating requirements and perform user acceptance testing new models where applicable.
Proactively value add by identifying new and emerging risks and typologies related to Private Banking clients and to gather and document future AML risk & compliance gaps, define scope of engagement and align with key stakeholders on best delivery approach.
Proactively participate in discussions with stakeholders to further new business initiatives and and/or solve business activities from an AML standpoint but with a commercially focused, forward looking and practical manner.
Propose suitable process enhancements to Head of Governance to upgrade efficiency with proper assessment of possible risks in determining Private Banking’s risks appetite.
Assist Head of Governance to gather and document AML business gaps for presentation to various types of stakeholders including Management in defining the scope of engagement and align with key stakeholders on best delivery approach.
To stay abreast of current industry trends and changing regulatory landscape on AML matters to analyse the impact to the business and ensure the RCSA and Policies & Procedures are updated and sustained on all levels.
Build strong rapport with external stakeholders, internal support functions (e.g. Compliance, Risk, Audit) and the Business to ensure Business & Group's initiatives are met bearing in mind stakeholders expectations.
Ensure PB staff awareness and adherence to CIMB’s and PB’s code of conduct, internal policies and procedures.
Undertake project/ad-hoc work as required, undertaking any initiatives identified and designated from time to time by Head of Governance.
Minimally, a Degree holder
Relevant Work Experience
Relevant experience (at least 10 years) in AML/KYC area in wealth management
Relevant certification for AML/CFT issued by CAMS is preferred; or
Similar Compliance certification issued by an acknowledged institution and/or regulatory bodies
Personal Skills (Soft Competencies)
Good analytical abilities
Organised and detail oriented
Able to analyse problems quickly and provide practical solutions
Able to work independently as well as part of a team
Effective communicator and able to present issues clearly