Location: Singapore
Type: Full-time
Job Summary
This position is part of theAnti-Money Laundering Risk Management (AML Risk) function, within theAccount Management Team (AMT) underPrivate Wealth Management (PWM).
Responsibilities
- Review existing account profiles to identify gaps in SOW information and corroboration
- Analyse collected information and perform reasonableness and plausibility checks to build comprehensive SOW write-ups, enhancing existing write-ups or drafting from scratch
- Work with the Sales team to enhance account profiles and SOW corroboration, providing guidance and desktop research for benchmark analysis or profile updates
- Identify high AML risk factors and red flags, and engage with Sales and Compliance to resolve issues as needed
- Prepare SOW/AML risk assessment summaries, and present material findings or risk concerns to AML Risk Supervisors for further action
- Ensure SOW/SOF data, approval records and supporting documentation are properly retained
- Draft SOW assessments and review peer submissions, depending on team caseloads
Eligibility Requirements
- 5+ years of relevant experience in source of wealth reviews in private banking or for high-net-worth clients, at top tier banks, financial institutions or risk advisory firms
- Fluent in spoken and written Mandarin and English. Cantonese is an advantage.
- Proven ability to write detailed SOW narratives from scratch, consolidating Chinese and English information into a precise English summary
- Strong research skills, with the judgement to rely on primary sources
- Strong knowledge of AML/SOW review for various entity types (personal holding companies, trusts, SPVs, limited partnerships, funds, foundations)
- Strong understanding of AML/CFT regulations, including MAS and HKMA requirements
- Confident and articulate, able to explain requirements clearly to Sales stakeholders and hold a position when challenged
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