Contract AML/KYC Compliance Officer

Contract AML/KYC Compliance Officer

Posted Today by CHINA MERCHANTS BANK CO LTD

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Negotiable
Undetermined
Undetermined
Singapore
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Acquisition Due Diligence Banking Certified Public Accountant Certified Public Accountant (CPA) Client Onboarding Data Integrity Due Diligence Foreign Account Tax Compliance Act Risk Mitigation Verification And Validation

Summary: The Contract AML/KYC Compliance Officer role involves monitoring transaction alerts, conducting investigations into suspicious activities, and ensuring compliance with AML regulations. The position requires reviewing client onboarding processes and preparing data for regulatory reporting. The officer will also support the enhancement of AML systems and provide training to staff on compliance matters. This role is essential for maintaining the integrity of the financial institution's compliance framework.

Key Responsibilities:

  • Monitor daily transaction alerts generated from AML systems, conduct investigations into suspicious activities, and escalate or file Suspicious Transaction Reports (STRs) as required.
  • Review and disposition hits from name screening tools (e.g. sanctions, PEPs, adverse media), ensuring compliance with applicable international sanctions regimes (e.g. OFAC, UN, EU).
  • Review and monitor client onboarding and periodic reviews to ensure proper Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) for high-risk clients, including source of wealth/funds verification.
  • Prepare and validate client data related to FATCA and CRS for reporting purposes, ensuring data integrity and regulatory compliance.
  • Support the operation and enhancement of AML systems, including transaction monitoring and name screening platforms.
  • Assist in the execution and periodic update of the Enterprise-Wide Risk Assessment (EWRA), including risk identification and control evaluation.
  • Maintain and update AML/CFT policies and procedures in alignment with MAS Notice 626, head office standards, and regulatory requirements.
  • Assist in drafting and reviewing internal AML framework, policies, and procedures.
  • Support regulatory submissions, respond to queries from authorities, and assist in internal/external audits, inspections, and compliance reviews.
  • Provide AML/CFT advisory to business units, including sanctions, CDD documentation and requirements, control implementation and risk mitigation guidance.
  • Deliver AML/CFT training and awareness to staff across functions.
  • Keep abreast of regulatory developments and assist in implementing necessary control enhancements.
  • Perform all other duties as assigned by, or in the absence of, the Head or Deputy of Legal and Compliance Department.

Key Skills:

  • A degree holder with at least 1-3 years of AML/KYC compliance experience in banks and/or CPA firms (Big 4), preferably in private banking/corporate banking.
  • Self-starter with excellent interpersonal and communication skills.
  • Good analytical and problem-solving ability.
  • Able to work independently and as part of a team.
  • Fluent in English and Mandarin.

Salary (Rate): £3,200 monthly

City: Singapore

Country: Singapore

Working Arrangements: undetermined

IR35 Status: undetermined

Seniority Level: undetermined

Industry: Other

Detailed Description From Employer:

Job Description

  1. Monitor daily transaction alerts generated from AML systems, conduct investigations into suspicious activities, and escalate or file Suspicious Transaction Reports (STRs) as required.
  2. Reviewed and disposition hits from name screening tools (e.g. sanctions, PEPs, adverse media), ensuring compliance with applicable international sanctions regimes (e.g. OFAC, UN, EU).
  3. Review and monitor client onboarding and periodic reviews to ensure proper Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) for high-risk clients, including source of wealth/funds verification.
  4. Prepare and validate client data related to FATCA and CRS for reporting purposes, ensuring data integrity and regulatory compliance.
  5. Support the operation and enhancement of AML systems, including transaction monitoring and name screening platforms.
  6. Assist in the execution and periodic update of the Enterprise-Wide Risk Assessment (EWRA), including risk identification and control evaluation.
  7. Maintain and update AML/CFT policies and procedures in alignment with MAS Notice 626, head office standards, and regulatory requirements.
  8. Assist in drafting and reviewing internal AML framework, policies, and procedures.
  9. Support regulatory submissions, respond to queries from authorities, and assist in internal/external audits, inspections, and compliance reviews.
  10. Provide AML/CFT advisory to business units, including sanctions, CDD documentation and requirements, control implementation and risk mitigation guidance.
  11. Deliver AML/CFT training and awareness to staff across functions.
  12. Keep abreast of regulatory developments and assist in implementing necessary control enhancements.
  13. Perform all other duties as assigned by, or in the absence of, the Head or Deputy of Legal and Compliance Department.

Requirement

  1. A degree holder with at least 1-3years of AML/KYC compliance experience in banks and/or CPA firms (Big 4), preferably in private banking/corporate banking.
  2. Self-starter with excellent interpersonal and communication skills.
  3. Good analytical and problem-solving ability.
  4. Able to work independently and as part of a team.
  5. Fluent in English and Mandarin.
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