Senior AML Analyst, CFS AML Risk Management
CARM is an operational risk management team under OCBC Consumer Financial Services (CFS) Singapore business unit. The team actively works in partnership with CFS Operational Risk Management & Compliance (ORMC) to manage CFS AML Risk in a highly demanding and fast paced environment, with opportunities and exposure in the area of proactive AML risk management for aspiring AML expertise individuals
Provide AML/CFT expertise in personally conducting or providing 2nd level reviews and approval, as well as training and guiding AML Analysts, on:
Reviewing and analysing customer profile in the relevant AML/CFT/Sanctions scope of work,
Provide overall Sanctions, ML/TF risk assessment on customers profile, identifying key risk areas for attention,
Recommend and provide risk mitigating plan for senior management consideration,
Implement effective risk mitigating actions/plans for CFS as part of the team's risk management activities.
Manage a team of up to 10 Analysts with key responsibilities covering 1 or more of the following AML/CFT control and risk mitigation activities:
Processing of escalated name screening alerts and/or transaction activities alerts,
Processing of priority requests from compliance or local authorities
File and/or Review escalated Suspicious Transaction Reports (STR) for consideration of further escalation to Group Regulatory Compliance Unit for STR filing,
Conducting Standard and/or Enhanced Customer Due Diligence reviews,
Customers and internal stakeholders engagement on request of information and documents,
Exit and closure of customer banking relationships,
Activities progress tracking through MIS update and reporting,
Provide AML advisory support to internal stakeholders where required
Quality assessment of completed operational tasks and provide update reporting to management on observations.
Pro-active management of issues highlighted via self-identification, internal and external audit reviews.
Conduct trainings on identified gaps, refresher program and new hires training.
Conduct policy gap analysis and procedural updates to meet new requirements,
On demand risk management projects and activities, including process optimisation, RPA and AI RegTech initiatives.
Project management of "Change The Bank" initiatives covering both process and systems changes. Key Stakeholders Management
Branch Service Risk Management
Premier Banking Offshore Middle Office
Premier Private Client Business Management Unit
Group Lifestyle Financing
Group Wealth Management
Consumer Secured Lending
Consumer Loan Operations
Operational Risk Management & Compliance
Regulatory Compliance Unit - AML
CFS Customers Qualifications Experience & Skill Set
Educational and Work Experiences:
Diploma or Degree holders with minimum 3 years of direct Sanctions/AML/CFT operational experience,
Degree holders with minimum 5 years of financial institution experience, aspiring to develop a career in AML risk management
Individuals with team management experience and
Diploma or ACAMS in Sanctions / AML / CFT will be highly considered.
Strong technical knowledge and understanding of regulatory requirements relating to sanctions, money laundering and terrorism financing.
Constantly keeping abreast of developments in Sanctions, ML/TF Risk typologies, measures and risk management. Collaborate with the relevant stakeholders to adopt best industry practices
Passionate in developing a career in AML risk management and compliance.
Strong analytical abilities and risk assessment acumen.
Committed and focused individuals
Positive and progressive behavioural traits
Effective leadership and training capabilities
Good team player
Good written and oral communication skills and ability to interact effectively with people at different levels
Forward looking and embraces technology to drive efficient and effective AML risk management.