Overview
Senior KYC Analyst (Private Bank) Jobs in Singapore, Singapore at HL Bank Singapore
Title: Senior KYC Analyst (Private Bank)
Company: HL Bank Singapore
Location: Singapore, Singapore
Functional (job responsibilities)
1) Customer Due Diligence/AML/KYC
- Review Account opening, Periodic review and triggering event submissions to ensure compliance to MAS Notice 626 (AML/CFT requirements) and its associated guidelines, specifically concerning Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD).
Source of Wealth (SoW) Corroboration:
- Analyse and request for relevant corroborative evidence to validate the legitimacy and path of a client's entire accumulated wealth (e.g., from business sale, inheritance, successful career).
- Review documents submitted to identify and verify Private Banking (PB) clients including identify complex ownership structures and understand legal arrangement of corporate entities
- Provide guidance Relationship Managers (RM) with SOW journey write-up as required
- Liaise with Compliance Team as 1.5 to ensure quality Account opening, Periodic review and Triggering Event Review submission.
Transaction lookback:
- Verify and analyse origin and purpose of funds being transferred to the bank, ensuring consistency with the client's profile.
- Review transactions of PB clients during Ongoing reviews to identify red flags
Name Screening:
- Review name screening assessments done by Front Office (FO), to determine if hits are false positives
- Provide independent assessment on materiality of true / unverifiable hits identified.
2) Audit Controls Testing and Requirements
- Independently conducts monthly quality assurance control testing of PB’s end-to-end process including Sales, CA and KYC to ensure compliance with internal and regulatory policies.
- Identify root cause and propose solution to address issues raised by external and internal auditor, AML compliance in their annual or ad-hoc reviews.
3) Management Reporting
- Preparation of management reports for all necessary management meetings
Experience
- Min 7 years of relevant KYC experience in Banking environment; with at least 3 years in Private Banking segment
- In-depth working knowledge of MAS Notice 626 (AML/CFT requirements) and its associated guidelines, specifically concerning Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD).
Source of Wealth (SoW) Corroboration:
- In depth ability to analyse and request for relevant corroborative evidence to validate the legitimacy and path of a clients entire accumulated wealth (e.g., from business sale, inheritance, successful career).
- Experience in reviewing corporate documents to identify complex ownership structures and understand legal arrangement of corporate entities
- Strong professional communication skills to effectively raise clear and specific queries with Relationship Managers (RMs), Compliance and other stakeholders.
- Good writing skills to assist RMs with improving source of wealth journey write-up
- Deep operational knowledge in KYC processes specifically in Account Opening, Periodic Review and Triggering Event Reviews.
