Regional Compliance Manager
Newly created role
About Our Client
Our client is a fintech firm with a new presence and setting up their base in Singapore. It is part of a leading global company with regional offices in many locations around the world.
a. Identify, assess and manage effectively, the risks that the Company may be exploited to launder money or finance terrorism;
b. Take a risk-based approach to managing these risks and focus more effort on higher risks;
c. Carry out a risk assessment identifying potential business vulnerabilities to money laundering and terrorist financing;
d. Prepare, maintain and approve a written policy statement, controls and procedures to show how the Company will manage the risks of money laundering and terrorist financing identified in risk assessments;
e. Review and update the policies, controls and procedures to reflect changes to the risk faced by the Company;
f. Advising and training employees on development and equipping these persons to implement policies adequately, including putting in place systems to support them;
g. Making sure that the policies, controls and procedures are communicated to and applied to subsidiaries or branches in or outside of Singapore;
h. Monitoring effectiveness of the Company's policies, controls and procedures and making improvements where required;
i. Carrying out, or overseeing the carrying out of, ongoing monitoring of customer relationships and sample reviewing of said relationships to ensure compliance with Singapore requirements;
j. Receiving and making decisions on internal reports and reports of suspicious activities or terrorism financing from directors, representatives and employees of the Company;
k. Take suitable action with respect to suspicion and where necessary, reporting suspicious activity and other reportable transactions to the Suspicious Transaction Reporting Office ("STRO");
l. Ensuring that the STR includes detailed account of the relevant facts and nature of the transaction, copies of the relevant documents if available and the submitter's contact details (including name, identification number, contact number and address);
m. Reporting regularly on key AML/CTF risk management and control issues, and any necessary remedial actions, arising from audit, inspection, and compliance reviews, to the Company's BOD, at least annually and as and when needed;
n. Having in place systems to identify when the Company is transacting with high risk third parties and countries identified by Singapore or financial sanctions targets advised by MAS in accordance with section 27A of the MAS Act and taking additional measures to manage and lessen the risks;
o. Keeping proper records of all transactions for which a suspicion is raised (whether or not referred to the STRO), together with all internal findings and analysis done in relation to them;
p. Developing and/or continuously reviewing the Company's AML/CTF systems to ensure they remain up to date and meet current statutory and regulatory requirements, including that of the outsourced arrangements with TFR;
q. Having oversight of all aspects of the Company's AML/CTF systems which include monitoring effectiveness and enhancing the controls and procedures where necessary, including that of the outsourced arrangements with TFR;
r. Maintaining all regulatory licenses required for the operation of the business; and
s. Assisting with audits,
The Successful Applicant
5+ years' experience in AML Compliance and Money Services Business at a senior level
Thorough knowledge of MAS regulations pertaining remittance, money changing and payments services.
Full understanding of applicable regulatory requirements and international standards.
Authoritative Knowledge of AML Compliance, KYC/AML provisions, International Sanctions, Transaction Surveillance, compliance and AML reporting.
Knowledge of risk management concepts
Ability to work and drive compliance projects under own initiative and experience when targets and tasks are set
ACAMS or ICA certification is a plus
What's on Offer
Attractive offer with good exposure to the fintech space and a newly created role in an entrepreneurial and dynamic setting