Change-in-circumstances Review Officer

GENERAL DESCRIPTION

The Change-in-Circumstances Review OFFICER is part of the COO Division of our client in their Client Account Modification Team.

The Change-in-Circumstances Review Officer is responsible to perform KYC plausibility checks, assess AML/KYC risk, review and approve any change in circumstances for Standard and Medium Risk client relationships booked in BJBS with available SLAs.

Additionally, the review also includes assessment of name screening results with appropriate comments from Front office.

KEY FEATURES OF THE POSITION

Client Management (internal & external)

• Support the Senior Management of the Branch in ensuring compliance with external and internal regulations and thus actively manage operational, regulatory and reputational risks.
• Build strong relationships with key stakeholders such as the Front Office, Legal, Compliance and Risk Management teams.
• Perform KYC plausibility checks and assess any AML/KYC risk, review and approve any change in circumstances (CiC) for Standard and Medium Risk client relationships booked in BJBS
• Check quality of submission for name screening for new partners resulting from CiC and where required, request further information from Front office.
• Review and disposition of hits adequately documented. Promptly escalate all true and potential hits within the required timeline.
• Ensure quality service is provided to internal clients i.e. Relationship Managers / Assistant RMs

Business Management

• Review and approve any change in circumstances for Standard and Medium Risk client relationships and ensure compliance with the Banks policies and procedures, and with MAS 626 Notices and Guidelines, and to mitigate risks (legal, regulatory and/or reputational) for the Bank
• Review and assess the plausibility of change in circumstances submitted by the Front for existing clients
• Review and assess the risk of opaque legal structures identified during CiC
• Address Sanction true matches, as well as true matches for other AML/CFT risks identified during the Banks Name Screening processes.
• Provide advice to Front employees on KYC/CDD- related matters· Provide advice to the management and local risk committees on the AML/CFT risk of a client relationship.· Strong commitment to quality service and a desire to drive continuous process improvement initiatives

Regulatory Responsibilities &/OR Risk Management

• Demonstration of appropriate values and behaviours including but not limited to standards on honesty and integrity, due care and diligence, fair dealing (treating customers fairly), management of conflicts of interest, competence and continuous development, adequate risk management, and compliance with applicable laws and regulations.
• Ensure that KYC/CDD issues are properly identified, assessed and documented.
• Ensure that where KYC/CDD measures cannot be completed there is timely escalation to AML Controls, where suspicious activities /conduct is also noted.
• Ensure timely assistance and cooperation is rendered to MAS and law enforcements requests for information.
• Ensure adherence to relevant regulatory laws, compliance policies and procedures when performing quality review 
• Work with Compliance and other stakeholders

SKILLS REQUIREMENTS OF THE POSITION

Personal and Social

• Strong Personality with good organisational skills
• Excellent communication skills
• Ability to effectively manage internal and external stakeholders
• Setting the right priorities and ability to work on multiple assignments at the same time
• A strong sense of responsibility and impeccable integrity
• Strong analytical skills
• Excellent command of spoken and written English, other languages are an advantage

Professional and Technical

• At least 3-5 years experience in either KYC/AML- related role, preferably in Private Banking
• A good degree and understanding of the Private Banking and Wealth Management industry
• Strong knowledge of the MAS 626 Notice & Guidelines
• A good degree and understanding of the private banking industry and or trust company.
• Experience in preparing reports and excellent excel skills
• We are also open to someone with prior screening experience, who is able to apply logical thinking and reasonableness in his/her assessment, thus having the potential to be trained up for KYC plausibility checks.