[ref. x4330524] Bukit Merah - Compliance Associate/Asst Manager/Manager
STATE BANK OF INDIA Bukit Merah Full-time
Responsibilities
Regulatory Compliance- Provide compliance advisory in areas of Banking Act 1970 (“BA”), Securities and Futures Act 2001 (“SFA”) and Financial Advisers Act 2001 (“FAA”) to all Business Units and departments.
- products.
- Update Management on all MAS and other regulatory bodies’ notifications that will impact the Bank and perform gap analysis (when required).
- Provide advice on compliance-related initiatives such as new product launch, review of marketing materials, etc.
- Develop/ periodic review policies/manuals/procedure notes under Compliance Department’s purview.
- Conduct Regulatory Review in accordance with the Compliance Review and Training Plans, including but not limited to Balanced Scorecard review.
- Attend to all Representative Notification Framework related matters, including Notification for Appointment of a Representative and Cessation of a Representative under the SFA/FAA.
- Coordinate, liaise, handle enquiries and ad-hoc/periodic submissions to Head Office and MAS promptly.
- Provide advisory/clearance of daily payment gateway screening hits and periodic name screening hits in relation to sanctions and adverse news (when required).
- Review suspicious and irregular transactions in customers’ accounts and conduct basic inquiry into such transactions with a view to filing a Suspicious Transaction Report to the Suspicious Transaction Reporting Office (“STRO”) when appropriate.
- Address ML/TF queries from Business Units (Credit & Syndication, Retail Banking and Trade Finance) and departments in relation to new customers’ onboarding and ongoing transactions.
- Perform high/low risk corporate customer periodic review.
- Conduct Enterprise-Wide Risk Assessment with Business Units within the Bank.
- Undertake overall responsibility of the name screening tool, including review and reporting of true hits for follow-up actions.
- Liaise with third party vendor on FATCA/CRS application, organize and coordinate data generation/information received from Operations/IT Department for annual submission to IRAS.
- Assist with FATCA / CRS compliance requirements.
- Provide trainings in the areas of Regulatory and AML/CFT Compliance.
- Provide cover for team members within Compliance Department in assigned areas during their leave of absence.
- Undertake other duties as assigned.
- Degree holders, preferably in Banking & Finance, Accounting, Business or Law.
- Candidates with certifications such as Diploma in Compliance or Association of Certified Anti-Money Laundering Specialist (ACAMS) would be viewed favourably.
- Good working knowledge in banking laws, particularly SFAFAA, FATCA/CRS and/or, AML/CFT requirements.
- Minimum 3 years’ relevant experience in Compliance function of a financial institution/regulatory body.
- Excellent communication and interpersonal skills with ability to interact with all levels of staff and management.
- Have the drive, energy and perseverance to succeed in a competitive market environment.
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