Private Banking Compliance Consultant

To support the set-up and growth of the Private Banking business in Singapore, acting as the compliance subject matter expert to ensure all activities, products and client onboarding adhere to MAS regulatory requirements and internal group standards.

Key Responsibilities:

1. Framework & Governance

• Build the compliance foundation for the Private Bank in Singapore from the ground up.
• Develop, author and maintain the core policy suite for Private Banking, including AML/CFT, KYC / CDD / EDD, client risk scoring and client onboarding.

2. Documentation & Product Advisory

• Draft, review and maintain all client-facing and internal Private Banking documentation - account opening packs, client agreements, product term sheets and operational procedures.
• Provide compliance advisory on the full Private Banking product shelf - deposits, FX, lending, insurance and trust referrals, mutual funds, fixed income, equities and structured products - ensuring products are designed and sold compliantly.

3. Systems & Controls

• Define business and compliance requirements for Private Banking systems and controls.
• Partner with Technology, Operations and business stakeholders to design, test and implement PB platforms, ensuring AML, screening and monitoring controls are embedded by design.

4. Client Lifecycle Compliance

• Act as a reviewer and advisor for client onboarding and ongoing monitoring matters, including KYC/CDD/EDD quality, Source of Wealth / Source of Funds assessments, client risk rating, PEP / sanctions / adverse media screening, periodic KYC reviews, transaction surveillance and suspicious transaction reporting / escalation.

5. General

• Undertake other compliance-related projects and assignments as directed by the Head of Department / Team Head.

Requirements:

• Degree in Finance, Banking, Business, Law or a related field.
• 3-5 years of direct compliance experience supporting Private Banking in Singapore, ideally gained in a top-tier private bank, international bank or established wealth manager.
• Strong hands-on knowledge of Private Banking compliance - AML/CFT, KYC/CDD/EDD, sanctions, PEP screening, client risk assessment and transaction monitoring.
• Good understanding of MAS regulations, including MAS 626 and the broader AML/CFT framework in Singapore.
• Bilingual proficiency in English and Mandarin is required - you will be drafting policy and client documents in both languages and liaising with Mandarin-speaking clients and Head Office stakeholders.
• Self-driven, collaborative team player with strong interpersonal and stakeholder management skills.