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DBS Bank

VP / AVP, KYC Specialist - Client Onboarding, Private Banking

DBS Bank
BusinessSingapore - CentralFull-time4 days ago
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About the role

AI summarised

The KYC Specialist (VP/AVP) in DBS Private Banking provides expert advice on KYC and customer due diligence matters, partnering with Front Office from client onboarding through approval. The role involves reviewing source of wealth information, risk rating customers, ensuring CDD completeness, and training Front Office staff, while working closely with Group Compliance on AML/KYC policies.

BusinessFull-timeGeneral

Key Responsibilities

  • Advise Front Office on the onboarding requirement in accordance to Bank's AML/KYC standards and regulatory requirement, and partner with Front Office to meet the requirement.
  • Review and corroborate customer's source of wealth (SOW) information submitted by RM, perform an independent review and risk rate customer in accordance to regulatory requirement as well as Group AML/CFT policy and procedures.
  • Follow up with Front Office (RM & ARM) and other stakeholders on customer CDD related matters and for escalated/prioritised cases.
  • Assess and ensure the relevance and completeness of CDD information supplied by Front Office and perform appropriate due diligence checks and information searches to comply with bank standards of client onboarding.
  • Highlight deficiencies, suspicious AML or other non-compliance issues to relevant parties and management.
  • Prepare reports for management reporting to facilitate relevant reviews and strengthen the control procedures and process.
  • Train the Front Office on client documentation and KYC related subjects.
  • Coach the junior team members and provide guidance in exception handling.
  • Involve in projects for new processes or industry initiatives, and internal/external audits.
  • Keep abreast of global AML/CFT developments that impact due diligence on wealth clients and ensure compliance with all other controls and processes.

Requirements

  • Degree holder with minimum 8 years of relevant experience in KYC/CDD/AML within Private Banking or Wealth Management.
  • Good knowledge of MAS regulations and industry guidelines on AML/CFT.
  • Strong analytical and risk assessment skills.
  • Excellent communication and interpersonal skills.
  • Ability to work independently and as part of a team.
  • Proficient in Microsoft Office applications.
  • Experience in training and coaching junior staff.
  • Strong stakeholder management skills.
  • Ability to handle multiple tasks and work under pressure.
  • Detail-oriented with strong organizational skills.