Private Banking Business Compliance Manager
We are representing our client, a large Chinese Bank to look for an experienced Private Banking Business Compliance Manager.
- Review client / counterparties / service providers’ documentation / agreement to perform due diligence and risk assessment for on-boarding purpose.
- Perform periodic KYC review of Private Banking clients and annual review of counterparties/service providers as part of ongoing monitoring.
- Assess the business impact in regulation changes and assist in implementation of changes in the business platform.
- Facilitate internal training in Private Banking.
- Handle complaints and PDPA matters.
- Liaise with Human Resources Department on the course application for licensed representatives for the completion of CPD hours.
- Work with other departments and 3rd parties for the relevant reporting requirements and to resolve any ad-hoc regulatory/compliance-related matters.
- Attend to requests or queries from Legal & Compliance, internal auditors and external auditors on business compliance related matters.
- Maintain up to date Private Banking policies and procedures related to business compliance functions.
- 5 -10 years of relevant experience in compliance functions in Private Banking or Wealth Management industry.
- Familiar with local and international regulations related to compliance functions (e.g. MAS Notice 626 on Preventing Money Laundering and Countering the Financing of Terrorism for Banks, PDPA, FATCA, PB Code of Conduct and MAS Guidelines on PB Controls).
- Experience in using independent sources for screening. e.g. Dow Jones, Refinitiv.
- Experience in KYC review requirements for Private Banking clients.
- Experience in review of counterparties and have knowledge of PB Investment Suitability framework.
- Understand the importance of compliance, controls and escalation processes.
- Meticulous and well-versed in reporting and documentation.
- Strong communication and interpersonal skills, team player.
- Ability to work independently as a self-starter and be adaptable.