Financial Crime Compliance Manager, Compliance

Position Description

The Financial Crime Manager is responsible for managing the financial crime compliance function for all the licensed CLSA entities in Singapore (“CLSA SG Entities”), provide advice/collaborate with business and relevant support functions in the development of controls, processes and procedures to ensure AML/CFT risks are effectively identified and mitigated, and to ensure effective monitoring of clients and transactions, for timely identification and reporting of AML/CFT related irregularities and suspicions to management and regulators.

The Financial Crime Manager will report to the Head of South East Asia Compliance, and the Regional Head of Financial Crime Compliance, and will be supported by the regional Finance Crime Compliance team in Hong Kong.

Key Areas of Responsibilities

The Financial Crime Manager will be principally responsible for managing the financial crime prevention function for CLSA SG entities, covering all business lines in Singapore, including, institutional equities, investment banking/corporate finance, equity derivatives, FICC, wealth management and asset management. The primary responsibilities include, amongst others:

• Acts as the Senior Manager under the MAS Guidelines on Individual Accountability & Conduct responsible for financial crime prevention, and is principally responsible for managing the AML/CFT risks of all CLSA SG Entities in accordance with MAS Notice SFA 04-N02 and its associated guidelines, and the CLSA group AML/CFT policy.

• Conducts Enterprise-Wide Risk Assessment on Money Laundering and Terrorism Financing for all CLSA SG Entities.

• Acts as the MLRO for all CLSA SG Entities, and is responsible for effective monitoring of all business relationships and client transactions to identify all potential irregularities and suspicions from AML/CFT perspective, and submitting STRs to the MAS/CAD in a timely manner.

• Monitors the daily operations of the CLSA SG Entities and ensure that adequate financial crime prevention measures are adopted in accordance with all regulations, policies and procedures.

• Advises management, businesses, operations and support teams on AML/CFT requirements, so as to facilitate client on-boarding, business initiatives and negotiations

• Reviews KYC measures conducted by the client onboarding team and conducts periodic reviews on the KYC documentations that are maintained to ensure that all applicable regulatory and internal requirements are adhered with.

• Ensures all clients of CLSA SG Entities are given appropriate AML/CFT risk ratings and enhanced CDD measures are implemented for all high risk clients.

• Assists with ad-hoc checks, risk reviews, remediation and screenings of clients, vendors, counterparties as and when needed

• Monitors development and provides key updates on related AML/CFT laws, regulations and risk trends and to escalate any key or high risk financial crime compliance issues.

• Provides advice/collaborate with the business and relevant support functions in the development of AML/CFT controls, processes and procedures to ensure risks are effectively identified and mitigated.

• Represents the Financial Crime Compliance function during New Product Approval process, provides financial crime prevention related advice and ensure that such requirements are delivered.

• Examines the appropriateness of the group’s financial crime related policies (amongst others, AML/CFT policy, Anti-Bribery and Corruption policy and Sanctions policy), practices and actions and make any necessary amendments or changes so that these are appropriate for the operations of the regulated business activities of the CLSA SG Entities.

• Conducts Financial Crime related trainings for Singapore staff as may be required, and ensure all relevant staff completes the trainings.

• Conducts monitoring to ensure that all relevant businesses and employees comply with the relevant Financial Crime related policies.

• Timely escalations to the Head of South East Asia Compliance, the Regional Head of Financial Crime Compliance, and local management on all material AML/CFT issues or exceptions pertaining to CLSA SG Entities

• Provide monthly Financial Crime Compliance updates to local management, and periodic updates to the board of directors of CLSA SG Entities.

• Handles MAS, SGX, internal and external audits relating to AML/CFT focus areas.

Requirements

• At least 10 years’ working experience in compliance. With relevant account opening and KYC experience, some of which must be within a financial institution

• Degree holder required, preferably in Law, Accounting or related discipline.

• Financial Crime/AML related certifications/qualifications e.g ACAMS

• Familiarity with or direct experience in Financial Crime, including significant retail, wealth management, institutional brokerage experience

• Good knowledge of securities laws, specifically the SFC regulations, AMLO, operations, products and services, especially those of Hong Kong.

• Self-motivated, independent and pleasant personality with excellent inter-personal skills.

• Attention to detail, organisational and multi-tasking skills. Ability to manage competing stakeholders.

• Demonstrated leadership ability as well as sound Management skills (to develop, guide and direct team members)

• Excellent analytical skills with the ability to analyse large amounts of data, decipher higher risk attributes (transactional, geographical, product, customer type, etc.) and disposition appropriately

• Quick logical thinking ability

• Good presentation skills

• Proficiency in Microsoft Office Applications for both data collection and interpretation of the results that can presented clearly and concisely

• Good command of written and spoken English. Proficiency in Chinese will be advantageous.

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