Assistant Manager, Compliance; AML​/CFT

We are seeking a proactive and analytical individual to support and strengthen the AML/CFT compliance framework and processes. The role involves managing and implementing AML/CFT controls, advising stakeholders, performing enhanced customer due diligence (“ECDD”) reviews, conducting suspicious transactions reviews, providing support to junior team members and ensuring compliance with applicable regulations and MAS Notices.

• Provide advisory to the first-line business units on AML/CFT-related areas such as customer onboarding, due diligence requirements, and risk mitigation measures.
• Review high-risk and escalated cases including PEPs, adverse media, high premium and complex structures.
• Assess source of wealth and source of funds for high-risk customers

• Escalate and advise on cases with true hit on sanctions
• Review cases with sanctions risks and recommend the handling to manage the risks

• Review the transaction monitoring alerts investigated by the team and elevate suspicious activity.
• Submit Suspicious Transaction Reports (STRs) to STRO when required.

• Support regulatory audits, MAS inspections and internal audits related to AML/CFT.
• Assist in preparing periodic AML reports, risk assessments, and regulatory returns.

• Contribute to the development and regular review of AML/CFT policy, procedures and risk assessment framework.
• Participate in control testing, quality assurance reviews, and remediation activities.
• Identify process improvements to enhance effectiveness and reduce false positives.
• Review controls and procedures to ensure compliance with the applicable requirements.

• Deliver AML/CFT training and awareness sessions to staff and representatives.
• Collaborate with first-line business units to ensure consistent understanding and application of AML/CFT controls.
• Participate in AML-related projects and/or undertake tasks assigned from time to time.

• Bachelor’s degree
• Professional certification such as CAMS, ICA, or IBF in AML/CFT is an advantage.
• 4 – 6 years of AML/CFT or compliance experience, preferably in insurance, banking, or financial advisor space.
• Strong knowledge of MAS AML/CFT Notice and Guidelines, Financial Services and Markets Regulations and Targeted Financial Sanctions, and insurance regulations.
• Experience with sanctions management and AML/CFT reviews of universal life insurance policies and unit trusts is an advantage.