Compliance Manager

STATE BANK OF INDIA
  • Job category
    Banking and Finance
  • Job level
    Manager
  • Contract type
    Contract
  • Location
    Central
  • Salary
    S$4000 - S$5500

Job Description

Job Descriptions:

Regulatory Compliance

- To provide compliance advisory in areas of Banking Act, Financial Advisers Act, and Outsourcing to all Business Units and departments.

- To attend to matters pertaining to Marketing and Promotional Materials in regard to deposit, remittance and investment products.

- To keep abreast of all MAS notifications that will have regulatory impact on the bank and perform an analysis, including updating the management.

- To attend to Compliance matters in relation to New Product initiatives including compliance advisory and review of forms.

- To develop/review all policy/manual/procedure in relation in relation to regulatory Compliance, including Manual on Local Regulations, Guidelines of Advertising, Independent Sales Audit Unit Procedure, Governance Framework on Outsourcing.

- To assist on Regulatory Review as scheduled in Compliance Review and Training Plans.

- To plan and execute the Balanced Scorecard Framework that includes Compliance Testing, customer survey and preparation of the report for submission.

- To review forms used by the bank for deposit/investment purposes including Personal Financial Review Form.

- To prepare monthly Compliance Certificate to be submitted to International Banking Group (IBG), India.

- To follow up with all BU/Departments to obtain their declaration Compliance Certificate.

- To attend to all RNF related matters, including Notification for Appointment of a Representative and Cessation of a Representative under the Securities and Futures Act (CAP 289) and/or Financial Advisers Act (CAP 110) ("FAA").

- To coordinate and prepare materials for Video Conference with Regional offices for Compliance exchange of information for Singapore Branch.

- To assist, coordinate, handle enquiry & submission and liaise on MAS Reporting and notification as required under Banking Act and FAA.

Common Reporting Standard (CRS)

- Coordinate information received from Operations/IT for submission.

- Organise/Conduct CRS prep training jointly with Retail Banking/Operations.

- Assist Operations to review CRS guidance.

Anti-Money Laundering

- To provide compliance advisory for new customer onboarding for Retail and Corporate customers.

- To provide Compliance advisory for Credit/Trade Finance customers.

- To assist in advisory/clearance of daily payment gateway screening hits and periodic name screening hits (where required).

- 2nd level checker pertaining to Transaction Monitoring of customers and staff, including Analysis of Alerts, Follow-Up with Relevant Departments for resolution of Alerts, Reporting of True Alerts and STR filing/STROLLS Administrator. Also cover for data quality assurance check in the absence of alternate regulatory compliance officer

- To attend to AML queries from Branches, Operations, Credit, Retail Banking and Trade Finance in relation to customers and transactions.

- To review screening hits in relation to sanctions and adverse news.

- To provide compliance advisory on new projects and initiatives, including detailed analysis.

- To assist in conducting high/low risk corporate customer periodic review.

- To assist in EWRA of ML/TF Risk with BU.

Others

- To cover other team members within Compliance Department in assigned areas during their leave of absence.


Job Requirements:


- A recognized degree, preferably in Accounting, Banking & Finance, Law or equivalent.

- Candidates with Association of Certified Anti-Money Laundering specialist (ACAMS or Diploma in Compliance will be given a preference.

- Minimum 3 years’ relevant experience in Compliance of a sizable financial institute/regulatory body, experience in administering and managing Anti-Money Laundering Program and well versed in banking laws, operations, products and services within Retail Banking with good understanding of the Banking Act, Financial Advisers Act/Regulations, Balanced Scorecard Framework, Representative Notification Framework, CRS/FATCA.

- Excellent communication and interpersonal skills with ability to interact with all levels of staff and management.

- Have the drive, energy and perseverance to succeed in a competitive market environment.


Closing on 05 May 2021

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