VP (AML Compliance), Governance & Controls, Institutional Banking Group

5 months ago

Hong Kong, Hong Kong SAR China DBS Bank Full time

Business Function



Corporate and Investment Banking provides corporate customers with a full range of commercial banking products and services, including cash management services, current accounts, time deposits, trade finance, working capital finance, term loans and foreign exchange. Through our continued commitment, DBS has cultivated long-standing relationships with its customers in the region that are based on account relationship management, service differentiation, product development and rigorous credit standards.

Responsibilities
Reporting to the Team Lead of AML Compliance under Governance & Controls Team, COO Office of Institutional Banking Group, to ensure Corporate Banking (IBG) staff are in full compliance with internal AML risk and compliance policies / standards, external regulations and industry’s best practices.

Preparing and facilitating risk & control self-assessment (“RCSA”) and ensuring there are appropriate rectifications and follow up actions. Following up on issues and action plans arising from RCSA, risk events, internal / external audits, and updating the relevant data bases. Ensuring timely completion of periodic CDD reviews for high/moderate/low risk customers and trigger review. Measuring and monitoring key risk indicators and issues so as to continuously improve control standards of IBG. Assisting in the preparation of monthly reporting of various risk and control committees/ forums Liaising with Compliance on KYC process and AML monitoring and following up on issues arising from them. Key risk indicators collation, analysis, monitoring and reporting. Providing support to the KYC / centralized CDD functions, EWSS batch / on-demand alerts checking / processing and projects / assignments / tasks / jobs under Governance & Controls. Addressing enquiries from IBG or other units on AML/CFT/Sanctions Updating the AML procedures and operating manuals, enhancement of KYC System concerning Operational Risk & KYC Management and supporting managers with AML/Fraud investigations Providing supervisory and coaching support to junior members of KYC Management and coordinating with other departments to determine the proper course of action in handling potentially suspicious activities. To support and assist the role and responsibility of AML Champion, UORM and NPA Champion, Risk Culture Campion etc. which currently performed by IBG G&C Head.


Key Accountabilities

Providing support to all units of IBG to ensure compliance with internal risk and compliance policies / standards, external regulations and industry’s best practices. Conducting compliance check / RCSA , documenting the testing / results and following up on ratification actions. Providing advisory support to IBG on issues relating to compliance, AML and risk controls; Assisting in cleaning up exercise relating to regulations, AML, audit or risk matters concerning IBG; Assisting in ad-hoc assignments relating to compliance, AML, audit or risks; Coordinating, organizing, providing guidance and conducting trainings for AML/CFT/Sanctions related matters, operational risk, compliance and audit areas to promote control and compliance culture and knowledge amongst IBG staff; Developing, implementing the Quality Assurance for CDD review and periodically reviewing the AML/CFT/Sanctions compliance risk governance framework and the related controls for identification, management, monitoring and reporting of AML/CFT/Sanctions compliance risks and issues (including the operation and the enhancement of Account Opening System, KYC Systems and the Core Banking systems) Reviewing, analyze and communicating AML/CFT/Sanctions management information such as trends surrounding fraud, suspicious transactions/filing of the Unusual Activity Escalation (UAE) and sanctions screening hits. Reporting results of AML/CFT/Sanctions risk management reviews and identifying key areas of improvements. Monitoring remedial actions for the identified deficiency in AML and risk controls that require remediation actions Evaluating and communicating new laws and regulations and staying abreast of the AML/CFT/Sanctions regulations, development, and industry practice, at both local and international levels Providing country feedbacks to the revisions to local and Group AML/CFT/Sanctions CDD standards and AML/CFT/Sanctions systems Rendering advice on AML/CFT/Sanctions matters to new banking product and service assessment Formulating internal workflow and recommendations for improvement with the relevant stakeholders related to compliance, AML, or risk controls

Requirements

University degree in Law, Banking, Finance or business related Minimum 10 years’ relevant experience in banking industry. Knowledge of regulatory / statutory policies and industry best practices. Knowledge of banking internal control policies and procedures. Professional qualification () are preferred. Experienced in banking or financial compliance / regulatory areas or audit / accountancy. Control and risk oriented. Good analytical / problem solving skills. Customer service oriented. Good communication and interpersonal skills. Team player. In-depth knowledge of banking operations and financial products. Proficiency in the use of MS office including Excel and PowerPoint

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