Change in Circumstances Review Officer

Job description

Tasks

• Support JBBS Branch senior management teams in ensuring compliance with external and internal regulations, actively managing operational, regulatory and reputational risks
• Build strong relationships with key stakeholders such as JBBS front office, legal, compliance and risk management teams
• Performing KYC plausibility checks and assessing AML/KYC risks, reviewing and approving changes of circumstances (CIC) for standard and medium-risk client relationships booked in JBBS
• Reviewing the quality of submissions for name screening for new partners resulting from CIC and requesting further information from Front Office as required
• Review and disposition of hits that are appropriately documented; prompt escalation of all true and potential hits within the required timeframe
• Ensuring that internal customers, i.e. relationship managers/assistants to relationship managers, receive a high quality service
• Stakeholder engagement for trigger event reviews of existing standard/medium risk client relationships where required
• Building the knowledge base of the CIC team by providing guidance and coaching to junior members

Business Management

• Review and approve changes in circumstances for standard and medium risk client relationships and ensure compliance with the Bank's policies and procedures and MAS626 notices and guidelines and mitigate risks (legal, regulatory and/or reputational) to the Bank
• Reviewing and assessing the plausibility of changes of circumstances submitted by the front office for existing customers
• Review, assess and raise (if required) the KYC information of accounts identified as part of the Bank's enhanced KYC reviews
• Review and assessment of the risk of opaque legal structures identified during the CIC
• Treatment of sanctions hits and hits for other AML/CFT risks identified during the Bank's name screening processes
• Providing advice to frontline staff on KYC/CDD related matters
• Providing advice to management and local risk committees on AML/CFT risks of client relationships
• Strong commitment to quality and desire to drive continuous process improvement initiatives

Regulatory responsibilities and/or risk management

• Demonstrate appropriate values and behaviors, including but not limited to standards for
• Ensuring that timely assistance and cooperation is provided in response to requests for information from MAS and law enforcement agencies
• Ensuring adherence to relevant regulatory laws, compliance policies and procedures when conducting quality reviews
• Cooperation with compliance and other stakeholders

Requirements

Personal and social

• Strong personality with good organizational skills
• Excellent communication skills
• Ability to effectively manage internal and external stakeholders
• Setting the right priorities and ability to work on several tasks at the same time
• A strong sense of responsibility and impeccable integrity
• Strong analytical skills
• Excellent command of spoken and written English, other languages are an advantage

Professional and technical

• At least 3-5 years of experience in a KYC/AML related role, preferably in private banking
• A good level of understanding of the private banking and wealth management industry and/or trust companies
• Strong knowledge of the MAS626 announcement and