Bank of Singapore opens doors to new opportunities.
At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!
The incumbent will support the trust company in carrying out periodic reviews for private banking clients who have set up a trust structure for succession planning purposes
Main duties
- Perform periodic reviews on trust client accounts in accordance with scheduled cycles pegged to risk ratings – AML requirement
- Review source of wealth background of private bank clients, corroborate the declared net worth independently and assess supporting documentation (e.g. financial statements) in line with regulatory requirements
- Carry out name screening in accordance with bank standards whether as part of periodic reviews, onboarding, investigations or ad-hoc requests. Conduct assessment on potential hits, follow compliance guidance and procedures.
- Complete the periodic review checklist, and assessment for trust relationship manager and team head sign-off. In this process, address comments as necessary.
- Support onboarding source of wealth assessments for new trust business.
- Interact with front office to obtain documents
- Track due reviews and produce management reports as necessary.
- Ensure client due diligence documents (Eg. passports, address proof, certificates of incumbency etc.) are up to date and accurately recorded (on file and on the system)
- Ensure outstanding matters are attended to or, if not, escalated accordingly.
- Ensure that Compliance approval is obtained where required.
- Review the permanent file to ensure good order and completeness.
- Assist with other departmental projects and tasks as necessary
Requirements
- Degree/Diploma holders
- 3 to 5 years in banking/financial industry, experience in KYC/AML/Compliance/Risk, knowledge of anti-money laundering procedures will be an advantage
- Team player
- Organised, detailed and with good risk awareness
Skills Required
- Degree/Diploma holders
- 3 to 5 years in banking/financial industry
- Experience in KYC/AML/Compliance/Risk
- Knowledge of anti-money laundering procedures
What We Do
OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker. OCBC and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services. OCBC’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include about 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang. OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. OCBC's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
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