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AVP/VP- AML/KYC Officer, Private Wealth Compliance (6 months Contract)
Singapore
SMBC Private Wealth
Posted 21 days ago
Job Viewed
Job Description
AML/CFT/Sanctions ADVISORY
- Advises FO on onboarding requirements
- Advises on and prepares risk framework
- Performs gap analysis for new regulatory requirements in relation to KYC/ AML
- Review and update of AML/CFT/Sanctions related policies and procedures
ACCOUNT OPENING
- Reviews and checks client on-boarding and account opening documentation
- Performs detailed due diligence and compliance assessments on client on-boarding and account opening documentation
- Checks adherence to client with the on-boarding checklist (e.g. KYC, Hansha checks, World-Check or equivalent, Factiva searches, PEP status, Vulnerable Client etc.)
- Performs Customer Due Diligence and Enhanced Due Diligence
DAILY NAME SCREENING
- Reviews, clears with adequate justifications alerts in name screening tool (ad hoc and batch name screening, etc) and escalates relevant adverse hits
TRANSACTION MONITORING
- Review inflow/outflows of cash and assets
- Investigates unusual transactions
- Prepares STRs
PERIODIC REVIEWS
- Organises, tracks and performs the periodic KYC reviews including trigger event reviews
- Prepares documentation for re-approval by Senior Management
ADMIN/SYSTEMS
- Handles the filing and archiving of client documents
- Monitors the client status as Accredited Investors
- Liaises with external vendors for AML related matters
- Performs reviews of parameters and functionalities of AML systems (threshold setting)
- Prepares KYC, AML training materials and delivers KYC, AML training
- Prepares documents/reports (client files, memos, AML dashboard, monthly key risk report for AML, EWRA, etc) for submission to senior management.
Job Requirements
- Minimum 4-7 years of experience in compliance within a private bank, wealth management firm, or financial institution
- Strong working experience to general compliance frameworks, including advisory, monitoring, and policy implementation
- Experience supporting front office activities in a private banking or wealth management environment is preferred
Education
- Minimum Bachelor’s degree in Law, Finance, Business, Accounting, or a related discipline
- Professional certifications (e.g., CAMS, ICA, CFA, or equivalent) would be an advantage
Regulatory Knowledge
- Strong knowledge of key regulatory frameworks, including AML/CFT, cross-border and suitability requirements
- Solid understanding of client onboarding, KYC, and due diligence standards
- Familiarity with conduct and sales practices in private banking
- Working knowledge of SFA/FAA requirements and MAS guidelines, aligned with global regulatory standards
Key Competencies
- Strong attention to detail in reviewing complex client structures, transactions, and documentation
- Skilled at identifying inconsistencies, gaps, and compliance risks
- Practical, risk-based approach to issue assessment and solutioning
- Ability to balance business objectives with regulatory requirements
- Strong analytical and judgment skills in interpreting regulations and managing risk
- Effective communicator with confidence engaging stakeholders and escalating issues appropriately
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