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Compliance Manager / Assistant Manager

Compliance Manager / Assistant Manager

STATE BANK OF INDIASingapore
30+ days ago
Job description

Responsibilities

Regulatory Compliance

  • Provide compliance advisory in areas of Banking Act 1970 ("BA"), Securities and Futures Act 2001 ("SFA") and Financial Advisers Act 2001 ("FAA") to all Business Units and departments.
  • Update Management on all MAS and other regulatory bodies' notifications that will impact the Bank and perform gap analysis (when required).
  • Provide advice on compliance-related initiatives such as new product launch, review of marketing materials, etc.
  • Develop / periodic review policies / manuals / procedure notes under Compliance Department's purview.
  • Conduct Regulatory Review in accordance with the Compliance Review and Training Plan
  • Attend to Representative Notification Framework related matters, including Notification and Cessation of Appointed Representative under the SFA / FAA.
  • Coordinate, liaise, handle enquiries and ad-hoc / periodic submissions to Head Office and MAS promptly.

Anti-Money Laundering Compliance

  • Provide advisory / clearance of daily payment gateway screening hits and periodic name screening hits in relation to sanctions and adverse news (when required).
  • Perform onboarding and periodic review on customers.
  • Review suspicious and irregular transactions in customers' accounts and conduct basic inquiry into such transactions with a view to filing a Suspicious Transaction Report to the Suspicious Transaction Reporting Office ("STRO") when appropriate.
  • Address ML / TF queries from Business Units.
  • Conduct Enterprise-Wide Risk Assessment with Business Units within the Bank.
  • Undertake overall responsibility of the name screening tool, including review and reporting of true hits for follow-up actions.

    • Foreign Account Tax Compliance Act (FATCA) / Common Reporting Standard (CRS)

  • Liaise with third party vendor on FATCA / CRS application, organize and coordinate data generation / information received from Operations / IT Department for annual submission to IRAS.
  • Assist with FATCA / CRS compliance requirements.

    • Others

  • Provide trainings in the areas of Regulatory and AML / CFT Compliance.
  • Provide cover for team members within Compliance Department in assigned areas during their leave of absence.
  • Undertake other duties as assigned.

    • Requirements

  • Degree holders, preferably in Accounting, Banking & Finance, Business or Law.
  • Relevant experience in Compliance function of a financial institution / regulatory body covering banking laws, particularly in SFA / FAA, FATCA / CRS and / or, AML / CFT requirements preferred.
  • Candidates with certifications such as Diploma in Compliance or Association of Certified Anti-Money Laundering Specialist (ACAMS) would be viewed favourably.
  • Excellent communication and interpersonal skills with ability to interact with all levels of staff and management.
  • Have the drive, energy and perseverance to succeed in a competitive market environment.
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    Compliance Manager • Singapore