Job Description

Key Responsibilities

1. AML/CFT Advisory & Onboarding ECDD Reviews
   • Provide advisory to the first-line business units on AML/CFT-related areas such as customer onboarding, due diligence requirements, and risk mitigation measures.
   • Review high-risk and escalated cases including PEPs, adverse media, high premium and complex structures.
   • Assess source of wealth and source of funds for high-risk customers
2. Sanctions Management
   • Escalate and advise on cases with true hit on sanctions
   • Review cases with sanctions risks and recommend the handling to manage the risks
3. Transaction Monitoring
   • Review the transaction monitoring alerts investigated by the team and escalate suspicious activity.
   • Submit Suspicious Transaction Reports (STRs) to STRO when required.
4. Reporting and Compliance with AML/CFT Regulations
   • Support regulatory audits, MAS inspections and internal audits related to AML/CFT.
   • Assist in preparing periodic AML reports, risk assessments, and regulatory returns.
5. Policy, Controls and Governance
   • Contribute to the development and regular review of AML/CFT policy, procedures and risk assessment framework.
   • Participate in control testing, quality assurance reviews, and remediation activities.
   • Identify process improvements to enhance effectiveness and reduce false positives.
   • Review controls and procedures to ensure compliance with the applicable requirements.
6. Training and Stakeholder Engagement
   • Deliver AML/CFT training and awareness sessions to staff and representatives.
   • Collaborate with first-line business units to ensure consistent understanding and application of AML/CFT controls.
7. Participate in AML-related projects and/or undertake tasks assigned from time to time.

Requirements

1. Education & Qualifications
   • Bachelor’s degree
   • Professional certification such as CAMS, ICA, or IBF in AML/CFT is an advantage.
2. Experience
   • 4 – 6 years of AML/CFT or compliance experience, preferably in insurance, banking, or financial advisor space.
   • Strong knowledge of MAS AML/CFT Notice and Guidelines, Financial Services and Markets Regulations and Targeted Financial Sanctions, and insurance regulations.
   • Experience with sanctions management and AML/CFT reviews of universal life insurance policies and unit trusts is an advantage.
3. Skills & Competencies
   • Demonstrates basic leadership abilities and takes ownership of assigned responsibilities.
   • Ability to guide and support junior team members with clear instructions.
   • Builds positive working relationships and collaborates effectively with colleagues.
   • Strong analytical and investigative skills with attention to detail.
   • Ability to interpret regulations and apply them pragmatically to enable the business.
   • Excellent communication (written and verbal) and stakeholder management skills.
   • Approaches problems logically and proposes practical, workable solutions.
   • Embraces change and adapts quickly to new processes, systems or requirements.
   • Familiarity with AML systems.
   • Ability to manage multiple priorities in a fast-paced environment while delivering high-quality outputs.