As Singapore’s longest established bank, we have been dedicated to enabling individuals and businesses to achieve their aspirations since 1932. How? By taking the time to truly understand people. From there, we provide support, services, solutions, and career paths that meet their individual needs and desires.
Today, we’re on a journey of transformation. Leveraging technology and creativity to become a future-ready learning organisation. But for all that change, our strategic ambition is consistently clear and bold, which is to be Asia’s leading financial services partner for a sustainable future.
We invite you to build the bank of the future. Innovate the way we deliver financial services. Work in friendly, supportive teams. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career.
Your Opportunity Starts Here.
Why Join
As a Business Compliance Officer at OCBC, you'll play a critical role in ensuring the bank's operations are conducted with integrity and in compliance with regulatory requirements. You'll have the opportunity to work closely with various stakeholders, identify potential risks, and implement effective controls to mitigate them. This role offers a unique blend of challenge and satisfaction, as you contribute to maintaining the bank's reputation and upholding the trust of our customers.
How you succeed
To excel in this role, you'll need to stay up-to-date with changing regulatory requirements and industry trends. Your analytical and problem-solving skills will be essential in identifying potential compliance issues and implementing solutions to address them.
What you do
The position of FI Transaction Review Officer is part of the in-business Global Financial Institutions AML Team. The FI Transaction Review Officer is responsible for reviewing accounts, customers and transactions in order to detect and identify unusual activity for further discussion with respondent bank and/or refer such instances for further investigation. Roles & responsibilities include the following:
1. Perform transactional review on Financial Institutions Customers’ accounts and transactions as part of the Bank’s Customer Due Diligence process
2. Analyse transactions to determine whether in-line with Customer’s expected profile
3. Identify downstream/nested correspondent relationship through transaction review
4. Monitor higher risk accounts and geographic areas and escalate any unusual activities to management
5. Review incomplete wire information and propose plans for follow up actions.
6. Thorough documentation of the review supporting the decision to close or escalate the activities for further follow up/investigations
7. To follow up on issues raised and participate in site visit and calls with clients where required
8. Assist with compliance audits, including internal and MAS-related audits
9. Undertake any other Compliance-related matters or ad-hoc projects
Who you are
Good understanding of international payments between financial institutions.
A University degree in Accounting/Banking/Finance or related discipline
Minimum of 3 to 5 years direct working experience in AML functions or equivalent with related experience in other areas of banking and preferably in the financial services industry
Experienced in reviewing and analysing foreign and domestic correspondent banking transaction activities is highly desirable
Knowledge of AML red flags, particularly with respect to wire transfers and correspondent banking; knowledge FATF recommendation 16 on Wire Transparency is desirable
Basic working knowledge of Singapore AML laws and regulations relative to money laundering and terrorist financing and the ability to apply this knowledge in assessing transaction activity; knowledge of monitoring of high-risk customer accounts is preferred.
Independent and ability to multi-task and meet multiple deadlines
Candidates with Big 4 banking audit experience is desirable
Strong in Microsoft Office applications and working knowledge of VBA is desirable
Excellent analytical, interpersonal, communication and writing skills
Excellent communication and interpersonal skills, with the ability to work collaboratively with various stakeholders
A proactive and adaptable approach, with a commitment to maintaining the highest standards of integrity and compliance
Who we are
As Singapore's longest established bank, we have been dedicated to enabling individuals and businesses to achieve their aspirations since 1932. How? By taking the time to truly understand people. From there, we provide support, services, solutions, and career paths that meet their individual needs and desires.
Today, we're on a journey of transformation. Leveraging technology and creativity to become a future-ready learning organisation.
But for all that change, our strategic ambition is consistently clear and bold, which is to be Asia's leading financial services partner for a sustainable future.
We invite you to build the bank of the future. Innovate the way we deliver financial services. Work in friendly, supportive teams. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career. Your Opportunity Starts Here.
What we offer
Competitive base salary. A suite of holistic, flexible benefits to suit every lifestyle. Community initiatives. Industry-leading learning and professional development opportunities. Equal opportunity. Fair employment. Selection based on ability and fit with our culture and values. Your wellbeing, growth and aspirations are every bit as cared for as the needs of our customers
Competitive base salary. A suite of holistic, flexible benefits to suit every lifestyle. Community initiatives. Industry-leading learning and professional development opportunities. Your wellbeing, growth and aspirations are every bit as cared for as the needs of our customers.
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.
