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Job Title: Compliance Officer, Wealth Management AML Transaction Monitoring

Company: Large Investment Bank

Corporate Title: Flexible Salary Range: Permanent
Location: Singapore Date Open: 12/11/18

Responsibilities / Duties:

Position Purpose

The review of post transaction AML alerts is segregated into two levels where L1 performs alert analysis and L2 for case investigations. In addition to escalation of automated alerts, L2 also handles the review of unusual activity reports and external triggers. The position is the Team Lead for L2.


Managerial Responsibilities
  • Manage L2 team and provide effective guidance.
  • Responsible for supervising, managing and motivating team members on a daily basis
  • Responsible for ensuring alerts that are escalated to the team are reviewed in a timely manner according to the internal timelines.
  • Maintain timely escalation to Compliance management in terms of overdue alerts, alert backlogs and alerts identified with ML/FT risks.
  • Responsible for ensuring accuracy of management reporting metrics.

Primary Responsibilities
  • Undertake investigation and assessment of transaction monitoring alerts for potential ML/FT risks in the Bank.
  • Ensure efficient identification and monitoring of suspicious activities and transactions.
  • Ensure timely, efficient reporting of suspicious transactions
  • Maintain a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
  • Assist in identifying systemic procedural weaknesses and additional training requirements for the Bank.
  • Review & approve unblocking, wire transfer and exceptional requests
  • As an AML subject matter expert, to provide direction and guidance to bank employees on appropriate remediation action for high risk accounts.
  • To participle in ad‐hoc projects, tool development projects as well as in the drafting of procedures when in relation to the AML Surveillance.
  • Participate in the periodic review of scenarios and thresholds, in particular the calibration and testing, in liaison with IT support and Head Office.
  • Provide support on projects pursuant to management requests or necessitated by events such as local & global internal audits and periodic inspections by the regulatory authorities

Requirements / Qualifications:

Technical & Behavioral Competencies

Analytical skills
  • Identifies all aspects of a subject and examines them in a critical way to construct a broad point of view.
  • Is driven by the desire to know more about things, people or events.
Taking responsibilities
  • Is involved in his/her scope for action, while appreciating the limits. Meets his/her commitments and accepts the consequences
Organizational skills 
  • Sets priorities, plans actions and methodically monitors their progress by coordinating activities and resources in the best way possible
Negotiation skills
  • Obtains best possible results when conflicting interests are at play, leading to a constructive dialogue.
Communication skills 
  • Expresses his/her messages, both orally and in writing, in an effective, organized way, which is appropriate to the audience being addressed.
  • Decision‐making skills
    • Makes clear choices at the right time, communicates them, and accepts the consequences, taking his/her environment into account.

    Specific Skills And Qualifications (if Required)
    • A background in KYC or AML processes specifically within Private Banking
    • Working knowledge of AML, EDD and KYC regulatory requirements
    • Advanced analytical research and investigative skill set including experience with transactional analysis
    • High level of analytical skills and problem solving
    • Excellent planning and organizational skills
    • Excellent written and oral communication skills with the ability to summarize findings and present in a clear concise manner to peers, direct and senior level management
    • Ability to contribute, support and lead efforts to achieve team KPIs, including recommendations to changes in procedures resulting from review finding and quality assurance of analyst case investigation work
    • Ability to work independently and use of judgment.