Private Banking Governance Specialist SG
Salary undisclosed
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- Oversee and manage the new client onboarding process and on-going review of existing clients, ensuring strict adherence to regulations, internal policies, and industry best practices for AML/KYC, due diligence requirements including Source of Wealth corroboration & plausibility assessments, reviewing complex entities or structures, PEPs, adverse news and sanctions.
- Provide advisory support to front office teams to ensure client profiles and KYC are established accurately, complying with internal policies & procedures as well as regulatory requirements.
- Participate and engage front office teams on new business initiatives and and/or resolve front office pain points from an AML standpoint but with a commercially focused, forward looking and pragmatic manner.
- 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 control enhancements within the 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 audits as well as regulatory requirements.
- Responsible for preparation of preliminary investigation reports on transactions and/or accounts for any suspicious client activity or specific transactions to be swiftly escalated to appropriate parties for investigation and resolution including making appropriate STR reports.
- Lead and drive initiatives to improve the efficiency, accuracy, and overall effectiveness of control framework, focusing on reducing operational risks and ensuring compliance with internal policies & procedures as well as regulatory requirements.
- Continuously assess adequacy of existing surveillance / monitoring framework for AML, and to propose or provide feedback on enhancements of monitoring parameters / thresholds to be in line with regulatory requirements.
- Proactively identify and document gaps in risk & control framework to define scope of remediation and align with key stakeholders on best delivery approach.
- Propose process streamline and enhancements to Head of Governance to improve business efficiency, resolve front office pain points whilst maintaining compliance to internal policies & regulations as well as regulatory requirements.
- To stay abreast of current industry trends and changing regulatory landscape on AML/CFT matters to analyse the impact to the business and ensure the RCSA and Policies & Procedures are updated and compliant to current standards.
- Prepare and present regular reports on governance controls, compliance metrics, and ongoing process improvement initiatives to senior management.
- Effective communication skills and ability to collaborate with internal stakeholders (e.g. Compliance, Risk, Audit, Operations) and external stakeholders (e.g. external auditors, regulators).
- Trusted advisor for Front Office on governance and regulatory related matters.
- Provide training to increase Front Office risk awareness and embed risk culture within the business to ensure adherence to CIMB's and PB's code of conduct, internal policies & procedures and regulatory requirements.
- Degree holder
- Minimum of 10 years of experience in AML/KYC within the financial services industry, with a strong focus on governance, compliance, or process optimization
- Experience in a private banking environment is preferred
- Relevant certification for AML/CFT issued by CAMS, CFCS, ICA is preferred; or similar Compliance certification issued by an acknowledged institution and/or regulatory bodies
- Track record of executing regulatory, control related and streamlining initiatives
- A positive attitude and team spirit with exceptional interpersonal and collaboration skills to manage stakeholders effectively
- Good analytical skills, organized and detail oriented
- Able to work independently and meet deadlines
- Able to identify and grasp problems quickly and proficient in problem solving
- Oversee and manage the new client onboarding process and on-going review of existing clients, ensuring strict adherence to regulations, internal policies, and industry best practices for AML/KYC, due diligence requirements including Source of Wealth corroboration & plausibility assessments, reviewing complex entities or structures, PEPs, adverse news and sanctions.
- Provide advisory support to front office teams to ensure client profiles and KYC are established accurately, complying with internal policies & procedures as well as regulatory requirements.
- Participate and engage front office teams on new business initiatives and and/or resolve front office pain points from an AML standpoint but with a commercially focused, forward looking and pragmatic manner.
- 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 control enhancements within the 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 audits as well as regulatory requirements.
- Responsible for preparation of preliminary investigation reports on transactions and/or accounts for any suspicious client activity or specific transactions to be swiftly escalated to appropriate parties for investigation and resolution including making appropriate STR reports.
- Lead and drive initiatives to improve the efficiency, accuracy, and overall effectiveness of control framework, focusing on reducing operational risks and ensuring compliance with internal policies & procedures as well as regulatory requirements.
- Continuously assess adequacy of existing surveillance / monitoring framework for AML, and to propose or provide feedback on enhancements of monitoring parameters / thresholds to be in line with regulatory requirements.
- Proactively identify and document gaps in risk & control framework to define scope of remediation and align with key stakeholders on best delivery approach.
- Propose process streamline and enhancements to Head of Governance to improve business efficiency, resolve front office pain points whilst maintaining compliance to internal policies & regulations as well as regulatory requirements.
- To stay abreast of current industry trends and changing regulatory landscape on AML/CFT matters to analyse the impact to the business and ensure the RCSA and Policies & Procedures are updated and compliant to current standards.
- Prepare and present regular reports on governance controls, compliance metrics, and ongoing process improvement initiatives to senior management.
- Effective communication skills and ability to collaborate with internal stakeholders (e.g. Compliance, Risk, Audit, Operations) and external stakeholders (e.g. external auditors, regulators).
- Trusted advisor for Front Office on governance and regulatory related matters.
- Provide training to increase Front Office risk awareness and embed risk culture within the business to ensure adherence to CIMB's and PB's code of conduct, internal policies & procedures and regulatory requirements.
- Degree holder
- Minimum of 10 years of experience in AML/KYC within the financial services industry, with a strong focus on governance, compliance, or process optimization
- Experience in a private banking environment is preferred
- Relevant certification for AML/CFT issued by CAMS, CFCS, ICA is preferred; or similar Compliance certification issued by an acknowledged institution and/or regulatory bodies
- Track record of executing regulatory, control related and streamlining initiatives
- A positive attitude and team spirit with exceptional interpersonal and collaboration skills to manage stakeholders effectively
- Good analytical skills, organized and detail oriented
- Able to work independently and meet deadlines
- Able to identify and grasp problems quickly and proficient in problem solving