KYC Onboarding Compliance Officer

About the job

The CRO department develops and oversees the global framework for identifying, managing, reporting, and mitigating risks within the risk tolerance limits for the various business units of Bank Julius Baer, with the aim of achieving sustainable growth for the company.

Tasks

The main responsibilities of the position include:

• People Management and Client Management (internal and external)
• Building strong relationships with stakeholders such as the BIB, the Singapore Branch Office, Client Document Services (CDS), the Periodic Review team, the AM, the Controls team, and the Risk Management team
• Assist the Head of Singapore Compliance and the Head of AML/KYC in managing compliance matters related to new and/or incremental KYC/CDD requirements for new client relationships, portfolios, and accounts held at BIBS
• Collaborate with the Head Office and overseas offices (particularly Hong Kong, Dubai, and Thailand) to provide input for cross-border referrals and account openings
• Assistance with addressing pre- and post-transaction compliance issues related to KYC/CDD, and support for account management in responding to inquiries and inspections from regulatory authorities, auditors (internal and external), and Head Office

Business tasks

The business tasks include:

• Review and approval of onboarding processes for new client relationships and accounts for individuals, trusts, corporations, legal entities, financial intermediaries, trustees, funds, and external asset managers, as well as the maintenance of existing client relationships with BIBS
• Ensuring compliance with banking policies and procedures, as well as MAS 628 notices and guidelines

Regulatory and legal requirements

The regulatory and legal requirements include:

• Review and assessment of the adequacy of the information provided by customers regarding the source of their assets

Further tasks

Additional responsibilities include:

• Managing customer onboarding for AML/CFT purposes, including conducting enhanced monitoring of the transaction until assessment and onboarding
• Processing of sanctions hits and misses for other AML/CFT risks identified during name screening, transaction screening, and periodic reviews
• Providing guidance to frontline teams and operations on KYC/CDD-related matters
• Providing advice to senior management and local risk committees on the AML/CFT risk associated with a customer relationship

Requirements

The requirements for the position include:

• Strong personality with good organizational skills
• Results-oriented
• Ability to effectively manage internal and external stakeholders
• At least 3 years of experience in a front-office KYC, onboarding, and AML role in the private banking or wealth management industry
• Good understanding of the private banking and asset management industry
• Thorough knowledge of the MAS 628 notice and guidelines
• Experience in