CARM Analyst

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.

CARM is an operational risk management team under OCBC Consumer Financial Services (CFS) Singapore business unit. The team actively works in partnership with CFS AML Advisory Team to manage CFS AML Risk in a highly demanding and fast paced environment, with opportunities and exposure in the area of proactive AML risk management for aspiring AML expertise individuals.

Key Responsibilities

• Perform in-depth Source of Wealth (SOW) corroboration and plausibility assessments for high-risk and enhanced due diligence customers, ensuring wealth declarations are adequately substantiated through independent evidence and holistic customer profiling.
• Analysing new and existing customers’ profiles and transactions in the relevant sanctions, money laundering (ML) and terrorism financing (TF);

• Providing relevant sanctions/ML/TF risk assessments of customers’ profiles and transactions, highlighting any key risk area(s) for attention;

• Recommending effective risk mitigating strategies for senior management consideration; and

• Implementing approved risk mitigating strategies by ensuring thorough and consistent execution

Key Learnings & Duties

Key learnings and duties include 1 or more of the following AML/CFT control and risk mitigation activities:

• Conducting Enhanced Customer Due Diligence reviews including Onboarding, PR, TER, name‑screening disposition, transaction review and Source of Wealth corroboration and plausibility assessments;
• Engaging Relationship Managers (RMs) and other internal stakeholders to obtain, assess and clarify information required for customer due diligence reviews;

• Reviewing and/or filing of internal Suspicious Transaction Reports (UTR) to assess if further escalation to Group Regulatory Compliance Unit for STR filing is required;

• Managing customers and internal stakeholders’ request for information and documents;

• Exiting and closure of customer banking relationships;

• Tracking of activities progress through MIS update and reporting;

• Providing AML advisory support to internal stakeholders where required;

• Participating in on demand risk management projects and activities, including optimisation, RPA and AI RegTech initiatives.

Educational and Work Experiences:

• Diploma or Degree holders aspiring to develop a career in AML risk management.
• Minimum 1 year of Sanctions/AML/CFT operational experience, preferably with experience in Enhanced Due Diligence reviews, Source of Wealth corroboration.

And/or

• Certification in Sanctions / AML / CFT.

Technical Skills:

Technical knowledge and understanding of regulatory requirements relating to sanctions, money laundering and terrorism financing. Experience in SOW corroboration.

• Passionate in developing a career in AML risk management and compliance.
• Independent self-starter
• Strong analytical abilities and risk assessment acumen.
• Confident in engaging and challenging stakeholders where appropriate, while maintaining constructive working relationships.
• Committed and focused individuals
• Positive and progressive behavioural traits
• Good team player
• Good written and oral communication skills and ability to interact effectively with people at different levels
• Forward looking and embraces technology to drive efficient and effective AML risk management.

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.