AVP/VP, Sanctions Compliance Officer

As Singapore’s longest established bank, we have been dedicated to enabling individuals and businesses to achieve their aspirations since 1932. How? By taking the time to truly understand people. From there, we provide support, services, solutions, and career paths that meet their individual needs and desires.

 Today, we’re on a journey of transformation. Leveraging technology and creativity to become a future-ready learning organisation. But for all that change, our strategic ambition is consistently clear and bold, which is to be Asia’s leading financial services partner for a sustainable future.

 We invite you to build the bank of the future. Innovate the way we deliver financial services. Work in friendly, supportive teams. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career.

Your Opportunity Starts Here.

• For the great opportunity to be part of our Group Compliance Sanctions team which has the responsibility of designing and managing the Sanctions compliance framework to ensure that it remains robust to manage sanctions risks, and for maintaining a strong compliance culture within the Group.
• For the exciting chance to gain extensive knowledge and subject matter expertise in the field of sanctions compliance - this experience can open up opportunities for career advancement and professional growth within the organization or in other financial institutions or organisations.

• Stay updated with international sanctions regulations and guidelines, including those issued by regulatory bodies like the United Nations Security Council, the Monetary Authority of Singapore (MAS), the US’ Office of Foreign Assets Control (OFAC), the European Union and the United Kingdom’s Office of Financial Sanctions Implementation.
• Stay alert to changes in the geopolitical landscape which may have sanctions implications and adapt your compliance strategies accordingly. Be flexible and adaptable to evolving requirements and emerging challenges.

• Ensure that OCBC’s Sanctions Policies and procedures adequately address the multiple jurisdictional sanctions laws and regulations (including UN/MAS/OFAC/EU/UK sanctions).

• Identify, recommend mitigating measures and work closely with Business impacted by any incremental sanctions risk; seeking senior management’s approvals/ further guidance, where relevant.

• Provide sanctions compliance advisory and training to business and operations units and compliance counterparts within the OCBC Group.

• Monitor and conduct research and follow-up to address major sanctions developments and external reports on sanctions topics.
• Prepare reports on sanctions-related metrics and other sanctions topics to Board, Senior Management and Regulators. This includes analysing Sanctions/PF related suspicious transaction report trends and typologies.
• Maintain a dynamic Sanctions Data Analytics Program to monitor and mitigate sanctions risks effectively and efficiently.

A team of seasoned compliance professionals within Group Legal & Compliance. Group Legal & Compliance takes care of integrity and ensures compliance with all rules and regulations, developing the policies and procedures that manage and mitigate risk. In an evolving world where we’re actively driving digital transformation, it’s no easy task. But we thrive on the challenge because we’re future-ready and focused on driving change.

• Degree qualifications in Accounting/Commerce/Economics/Finance, Banking, Engineering or Law, Political Science or related discipline.
• Min. 7 years’ experience in compliance and anti-money laundering/counter terrorism financing/sanctions compliance with established financial institutions.
• Has relevant AML/Sanctions experience in a regional/head office role.
• Has extensive knowledge of business, operations and the AML/CFT/PF regulatory framework in which bank groups operate.
• Has broad knowledge of the trade finance business and products, cash management services, transaction filtering and the ML/TF/Sanctions risks relating to FI business and operations.
• Is familiar with international sanctions regulations from the United Nations, MAS, US, European Union, UK.

Competitive base salary. A suite of holistic, flexible benefits to suit every lifestyle. Community initiatives. Industry-leading learning and professional development opportunities. Your wellbeing, growth and aspirations are every bit as cared for as the needs of our customers.