Job Description
General Description about the role
The Compliance Manager is a member of the BOSWME UK Compliance Department, working closely with the Head of Financial Crime Compliance, the local Regulatory Compliance teams, the Luxembourg Europe Head Office as well as with the Group Compliance (Bank of Singapore and OCBC). The incumbent is responsible for supporting the Head of Financial Crime Compliance in performing the compliance function and ensure that compliance risks are proactively identified, mitigated, monitored, and reported in line with UK laws and regulation. This key second line-of-defence role will also ensure that the first line-of-defence maintains full responsibility and accountability for the financial-crime related risks taken within the business.
Main Duties
The main duties are including but not limited to:
* Perform independent review of High-Risk client onboardings and periodic reviews submitted by the first line-of-defence;
* Support the UK Head of Financial Crime Compliance in performing investigations, preparing reports and making recommendations on suspicious activities (SAR filings);
* Provide financial crime-related expertise and advice to internal stakeholders;
* Implement compliance controls in accordance with the Financial Crime Compliance Monitoring Plan;
* Maintain knowledge and awareness of key regulatory changes related to Financial Crime Compliance matters impacting the business, including review of relevant local consultation papers, discussion papers, guidance, policy statements, thematic reviews, and enforcement cases. This includes identifying and assessing compliance risks and impact arising from new projects, products/services or UK regulatory requirements;
* Update and implement FCC-related Policies and Procedures in accordance with local requirements and Group standards, policies and procedures; and
* Provide guidance on sanctions related matters, in conjunction with relevant Sanction stakeholders in BOS Group.
* Organize trainings to internal stakeholders to maintain a high level of AML/CFT risk awareness;
* Prepare external regulatory reports, as well as reports to internal management bodies, e.g. BOSWME Executive and Risk Committee, BOS UK Executive Committee etc; and
* Develop finanical crime compliance monitoring plan.
Qualifications
* University degree or higher education in a relevant field. Fluent proficiency in written and spoken English.
* Professional certification such as ACAMS / ICA is preferred, but not a must.
* Minimum of 5 years of relevant work experience, preferably in the AML/CFT compliance function of a private bank or private wealth company.
* Prior regulatory background or experience in AML/CFT control functions, with expertise in Enhanced CDD requirements (e.g. Source of Wealth corroboration, Tax Risk Assessment) is an advantage.
* Strong technical knowledge and understanding of AML/CFT requirements in the UK.
* Deep analytical skills and strong risk acumen to identify material ML/TF gaps and red flags and articulate well-considered risk-mitigation recommendations.
* Excellent interpersonal and leadership skills, and a collaborative mindset.
* Good operational knowledge and skills in IT applications (Microsoft Excel, Word, PowerPoint, etc).