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CIMB

Commercial AML Specialist SG

CIMB
BusinessSingaporeFull-time2 days ago
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About the role

AI summarised

This role is a Commercial AML Specialist at a bank, responsible for ensuring compliance with KYC and CDD standards during client onboarding. The specialist will review onboarding requests, manage high-risk portfolios, and collaborate with relationship managers and compliance teams to mitigate risk and improve processes.

BusinessFull-timeGeneral

Key Responsibilities

  • Ensure thorough, timely and quality review of client onboarding requests
  • Partner with Relationship Managers in the KYC write-up, identify areas of clarification and ensure adequate follow-up with client and closure prior to KYC submission
  • Corroborate customer's source of wealth information submitted
  • Track and report on the progress and efficiency of the high risk portfolio onboarding pipeline, risk trends and recurring KYC issues, actions triggered to ensure adequate progression of the case
  • Provide subject matter expertise and training to internal teams on high risk onboarding standards and regulatory changes on a periodic basis as and when required
  • Ensuring adverse news screening performed is in accordance with approved procedures and industry standards
  • To prepare periodic and ad hockey management/regulatory reporting on KYC Portfolio & Performance Management
  • Assist in the end-to-end client onboarding process, from prospect onboarding advisory to account opening and fraud management, facilitating compliance with the bank's requirements and timely opening of accounts
  • Conduct periodic reviews and audits of account opening and onboarding documentation to ensure compliance with internal policies and regulatory standards
  • Identify and remediate documentation gaps, inconsistencies, and control weaknesses
  • Ensure timely escalation of documentation discrepancies and exceptions
  • Partner with Relationship Managers and Compliance to ensure documentation is fit-for-purpose and aligned with CDD policies and local requirements

Requirements

  • Bachelor's degree in Finance, Business, Law, or related discipline
  • Technical and Regulatory Knowledge relating to CDD and onboarding processing/risk
  • Experience in developing and implementing end-to-end process flows, and managing High risk clients would be an advantage
  • 5-7 years of experience in onboarding, compliance, or compliance assurance
  • Strong understanding of KYC, CDD, onboarding processes, and regulatory requirements
  • Technical understanding of CDD and onboarding end-to-end process
  • Strong analytical skill and eye for detail
  • Good communication and interpersonal skills
  • Independent, versatile and able to perform under pressure
  • Knowledge of Commercial Banking business practices, processes and procedures
  • Proven track record in managing regulatory compliance and risk assurance functions
  • Strong leadership, stakeholder management and communication skills
  • Good communication skills, written and spoken with the ability to communicate at all levels