Head of Financial Crime Compliance (Wealth Management)

30 Jul 2020

My client, a leading international bank is looking for a Compliance Director to provide cover for the banks Wealth Management business to oversee the Finacial Crime Compliance Function

My client, a leading international bank is looking for a Compliance Director to provide cover for the banks Wealth Management business to ensure effective implementation of the Anti-Money Laundering ("AML") and Counter Financing of Terrorism ("CFT") Compliance regime.

Job Description
It is a fast filling position with good pay structure; perfect move to move your banking career to the next level.

Job Requirements:

  • Oversee the FCC function for the wealth management business
  • Manage a team of 6 to 8 members and take responsibility of their performance and progression
  • Provide advice to wealth management staffs, senior management and other stakeholders on FCC matters
  • Communicate proactively with the business heads to provide and receive timely feedback on FCC matters
  • Be the point of escalation for transaction monitoring alerts and reviews on wealth management client account activities
  • Review suspicious transaction reports ("STR") and assist Money Laundering Reporting Officer (MLRO) of STR filing with the relevant authorities where necessary
  • Conduct compliance testing on the FCC program for wealth management division
  • Prepare and present MIS in relation to wealth management division related AML/CFT issues for senior management
  • Be the point of escalation for the reviews of source of wealth write-up for wealth management clients
  • Approve account opening requests for High Risk/PEP accounts
  • Review on other financial crime related issues including anti-bribery and corruption, sanctions and other adverse news
  • Review and update AML Policies for Asia (excluding Japan) region periodically
  • Review AML/CFT risks in relation to new product and platform offerings
  • Provide training to wealth management staff and senior management on AML/CFT matters
  • Oversee the framework and manage key risk indicators of the front office, in relation to FCC matters
  • Liaise with audit and regulators on FCC related issues
  • Liaise with other corporate functions on FCC related issues
  • Liaise regionally with the local Compliance officers in AEJ on FCC matters
  • Run effective projects in relation to FCC matters, remediation, or process improvements.

The Successful Applicant

As a successful applicant, you would have the following Skills & Qualifications:

  • University-level Degree preferably in a relevant discipline (Finance, Accounting, Business, Legal)
  • 8-10 years' experience in an AML Compliance role in a financial institution, preferably with private and institutional banking exposure
  • Excellent command of the English language, with strong written and verbal communication skills, and the ability to communicate effectively across all levels
  • Experience in managing a team
  • Good understanding of the AML/CFT legislations and regulations
  • ACAMS and/or other relevant AML qualifications preferred
  • Able to liaise and interact with internal stakeholders and external parties
  • Disciplined and self-motivated individual who can work independently and under pressure
  • Proficient in Mandarin & Cantonese is an added advantage as this role requires reviewing of documentations in Chinese & interaction with internal stakeholders based in Hong Kong

If you're interested in this role, please send your updated CV (word format) to smalhotra@morganmckinley.com.sg for a confidential discussion.

Referrals are greatly appreciated.

Morgan McKinley Pte Ltd

EA Licence No: 11C5502

Registration No: R1770166

Registration Name: Suhani Malhotra

Suhani Malhotra - R1770166's picture
Senior Consultant
Singapore +65 6818 3174 | smalhotra@morganmckinley.com