Bank of Singapore opens doors to new opportunities.
At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!
At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programs that develop them on both professional and personal levels. We offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!
This role is in Tax Regulatory Services Team, which executes a suite of processes supporting the bank on fulfilment of due-diligence requirements under Common Reporting Standard (“CRS”) and Foreign Account Tax Compliance Act (“FATCA”).
Main Responsibilities
Responsible for timely execution and fulfilment of BAU processes; Change in Circumstances (“CIC”) FO outreach/monitoring, Relationship Manager Inquiry Exercise (“RMI”), CRS & FATCA Annual Internal Classification, CRS & FATCA Annual Mass Mailing Client Outreach and Discretionary Trust Distribution monitoring processes.
Partnership with various stakeholders such as Front Office, Tech team, Scanning and Mailing teams in supporting above-mentioned processes.
Accountable to manage and support day-to-day BOSCOS CIC workflow.
Co-ordinate with COLM and CA teams to ensure completion of closed account CRS valid self cert and QI DTT update.
Plan and execute annual processes runbooks and liaise with stakeholders on exception or changes that may arise to ensure necessary tasks are well executed.
Perform assessment on above-mentioned processes pre-reporting and consolidating requirements to facilitate regulatory obligations.
Address queries and feedback from various stakeholders.
Assessment and analysis of regulatory changes/new regulatory requirements on operational impact to the processes and its subsequent implementation.
Participate in projects that may impact FATCA and CRS reporting which include performing User Acceptance Test (UAT) testing as well as regression system testing requirement.
Review existing processes to identify potential area of improvement, process streamlining, risk and deviation to achieve control management and processes standardization.
Prepare management information updates to Head of Department on a weekly basis.
Other ad hoc requirements.
Work Experience & Education Qualification
Preferably university degree in finance or accounting.
3 years of experience in banking/financial institution.
Experience in FATCA, QI and CRS processes and tax reporting related will be an added advantage.
Excellent time management skill and interpersonal skill.
Solid problem solving and analytical skills.
Exhibit an appreciation of the risk impact of actions undertaken, with a good risk and control perspective.
Responsible and takes ownership of assigned tasks. Abides to timeline.
Working knowledge of MS Excel will be an added advantage.
OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include about 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.
OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.
OCBC's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
