Client Onboarding Officer
Client Onboarding Officer
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Job Description
About the client
With a legacy of more than 130 years across the globe our client has been focusing on one thing: helping people achieve their financial goals. As a global wealth manager they understand your needs and take the long view when it comes to your assets. Whether youre starting a company planning for your retirement or want to ensure your loved ones will be taken care of in the future; their experts will help find the solution that is right for you.
They are one of the largest key wealth management providers in the region. Their Asia footprint covers major cities in the region including booking centres in Hong Kong and Singapore offices in Shanghai Mumbai and other key cities in India as well as joint ventures with a Leading Commercial Bank in Thailand and Japan.
They understand the needs of high and ultrahigh net worth individuals in the region and are well positioned to serve them and their families for the long term.
GENERAL DESCRIPTION
The Client Onboarding Officer is part of the COO Division in the ClientOnboarding Team.
The Client Onboarding Officer is responsible to assess AML/KYC risk for high risk accounts for escalation to Compliance and approval of Standard and Medium Risk client relationships booked with available SLAs.
KEY FEATURES OF THE POSITION
People Management
Support the Senior Management of the entity in ensuring compliance with external and internal regulations and thus actively manage operational regulatory and reputational risks.
Client Management (internal & external)
Build strong relationships with key stakeholders such as the Front Office Legal Compliance and Risk Management teams.
Assess AML/KYC risk and approval for new Standard and Medium Risk (Risk Countries) client relationships booked.
Work closely with Head Office and overseas offices (particularly Hong Kong Dubai and Thailand) to provide input on account opening.
Business Management
Review and approve the onboarding of new client relationships and accounts for Individuals Domiciliary Companies Legal Entities Financial Institutions Trusts Fund External Asset Managers 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 adequacy of the Source of Wealth narrative and corroboration submitted by the Front for new to bank prospects and / or existing clients
Review and assess the risk of opaque legal structures
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 the client relationship is not established or exited and 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.
SKILLS REQUIREMENTS OF THE POSITION
Personal and Social
Strong Personality with good organisational skills
Excellent communication skill
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 13 years experience in either KYC OnBoarding and AML 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
Employment Type
Full Time
