Compliance Analyst

Compliance Analyst | Singapore

Role Overview

The Compliance Analyst is responsible for the review of related financial crime/AML procedures across the business, paying particular attention to the on boarding of Enhanced Due Diligence (‘EDD’) clients and subsequent ongoing monitoring.

The individual has a responsibility over the development and maintenance of the monitoring and on boarding policies, in particular with respect to high-risk clients and the applicable parts of the firm’s financial crime risk assessment, including sanctions, country risk assessments and the Group’s risk scoring matrix.

The role involves supporting the Head of Financial Crime and compliance officers based in London and Money Laundering Reporting Officer (‘MLRO’) to ensure all areas of financial crime, including AML, sanctions and ongoing client monitoring and transactional monitoring are all adhered to.

Key Responsibilities & Accountabilities:

Financial Crime / AML:

• Oversight of the financial crime framework within the business for the onboarding and maintenance of high risk clients

• Support the Compliance Director, Head of Financial Crime and MLRO in all areas of Financial crime and AML related matters

• To advise, with the help of outside specialists where necessary, on EDD situations. Up to and including those involving PEP’s and/or sanctions

• Execute and manage all escalations from the Financial Crime team, monitoring and front office, where applicable;

• Understand the financial crime risks within MonFX and keep abreast of all regulatory changes

• Ensure financial crime prevention is communicated to the team, through regular training sessions and education

• To liaise with front office staff where applicable, to encourage an understanding of client risk

• Review AML policies and procedures to ensure they are up to date and meet regulatory requirements and current guidelines

• Ensure the firm’s adherence with its financial crime and all AML regulations are adhered to

• Investigate and provide advice on all positive alerts incl. sanctions, PEP matches and adverse media

• Advise the AML team on high risk accounts and sign off Financial Crime Requirements

• Broad understanding of Financial crime regulations in Singapore;

• To provide relevant input into the firm’s financial crime risk assessment matrix;

• Oversight of suspicious activity reports in absence of the MLRO;

• The continuous review and improvement of Compliance Policies & Procedures, Advice and Training Documentation, to ensure they continue to be compliant with MAS regulatory changes and best practice;

• Ensuring risk based procedures are in place for the review and escalation of due diligence/KYC documentation and information on all clients.

Regulatory Compliance:

• Maintain the Company’s regulatory obligations register for requirements under the Payment Services Act and Securities and Futures Act

• Support in regulatory reporting

• Act of second line of defence in monitoring regulatory compliance

• Liaise with MAS on regulatory compliance matters

• Liaise with auditors including internal auditors and/or inspectors on compliance matters

• Advise on and assist in regulatory compliance queries.

Compliance Culture:

• Establish good working relationships with front office and all other departments so that Compliance is seen as an effective second line of defence providing a professional internal guidance and advisory service;

• Establish good working relationship with the Financial crime team to ensure training and communication with other areas of the business is promoted;

• To set the tone to achieve a high profile promotion of compliance requirements across the business.

Compliance Monitoring:

• Conduct monitoring of regulatory compliance and financial crime compliance;

• To identify and investigate internal suspicious activity/transaction reports and report to the Compliance Director, Head of Financial Crime and MLRO.

• Technology & Data:

• Help to ensure accurate and up to date Compliance records are maintained;

• Act as a contributor to the monthly Compliance reports, presented to the

Qualifications & Skills

• Bachelor’s degree or equivalent qualification

• Previous experience of working within in a similar, regulated financial services industry;

• Wide financial crime exposure to global AML and FC, specifically with high risk, EDD clients;

• Experience in regulatory compliance for regulated payment services firm or capital markets services licensee;

• Demonstrated experience in managing compliance issues across jurisdictions and multiple legal entities.