AVP - KYC/AML
Salary SGD80000 - SGD100000 per annum
Consultant WeiYolk Loke (R1545553)
Date posted 31 October 2016
A leading global banking giant is looking to hire an Assistant Vice President to be part of the APAC KYC team which sits under the Client Operations Group. The team supports a wide variety of activities across a range of financial markets globally, including Enhanced Due Diligence (EDD) for the corporate institutional banking business.
About the AVP - KYC/AML role:
The successful jobholder will be managing a KYC team of 3 or 4 direct reports to perform periodic review for new clients with different risk levels (high, medium, low), in accordance with the bank’s global KYC procedures and any accompanying local jurisdictional requirements. At the same time ensure all activities and duties are carried out in full compliance with regulatory requirements, the bank’s operational risk framework and internal bank policies and standards.
- Workflow management, including prioritisation and assignment of KYC tasks
- Perform KYC Manager approvals where allowed by global KYC procedures, including Politically Exposed Person (PEP) identification and adverse media disposition
- Stakeholder engagement, including prioritisation meetings with front office and liaison with financial crime compliance
- Talent development, including ensuring sufficient KYC knowledge and expertise, and continuous growth of such knowledge and expertise within team
- Perform Enhanced Due Diligence (EDD) for new and existing clients and review and provide advice on adverse news and sanctions hits found by the KYC team during onboarding and refresh
- Analyse client data, documentation and negative news for higher risk customers in order to understand the Client Risk Profile as established under the global KYC procedures
- Understand and verify the following for high risk customers where appropriate - source of wealth, source of funds / nature of business, intended nature and purpose of relationship and background of key officials
- Conduct a risk assessment for high risk customers to ensure the risk assigned is appropriate
- Based on the EDD undertaken, draw a conclusion taking into consideration the risks identified and any mitigating factors
- Collaborate with the KYC Group’s worldwide counterparts on global requests
- Liaise with Financial Crime Advisory in specific circumstances, where our customer is a ‘Special Customer Type’ or has material adverse news / sanctions concerns
- Liaise with clients and front office where necessary, for completion of the EDD review of a customer
To succeed in this AVP - KYC/AML role, you will need the ability to identify and differentiate between financial crime AML risk and reputational risk.
- Ability to assess risk and identify mitigating factors
- Knowledge and understanding of the risk associated with Special Customer Types (PEPs, MSB, Gaming etc) and AML Red flags
- Degree holder
- Knowledge and understanding of AML regulations globally
- Minimum 5 years' experience in an AML/financial crime or EDD role
- Expertise in KYC, CDD, and enhanced due diligence processes essential
- Strong report writing skills
- Strong influencing skills
- Non-English language capability preferred
The bank is a bulge bracket bank that is globally recognised as one of the leading banking giants and they are looking for driven and determined employees. If you are keen to work in a dynamic environment with exposure to a regional remit, this is the role for you. Great career progression opportunities await the right person in this exciting AVP - KYC/AML role.
Apply today or call me to discuss this new opportunity.
Robert Walters (Singapore) Pte Ltd
ROC No.: 199706961E | EA Licence No.: 03C5451
EA Registration No.: R1545553 Wei Yolk Loke