Manager - Private Bank, Client Onboarding
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What you'll do
- Review Account opening, Periodic review and triggering event submissions to ensure compliance to MAS Notice 626 (AML/CFT requirements) and its associated guidelines, specifically concerning Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD).
- Analyse and request for relevant corroborative evidence to validate the legitimacy and path of a client's entire accumulated wealth (e.g., from business sale, inheritance, successful career).
- Review documents submitted to identify and verify Private Banking (PB) clients including identify complex ownership structures and understand legal arrangement of corporate entities
- Provide guidance Relationship Managers (RM) with SOW journey write-up as required
- Liaise with Compliance Team as 1.5 to ensure quality Account opening, Periodic review and Triggering Event Review submission.
- Verify and analyse origin and purpose of funds being transferred to the bank, ensuring consistency with the client's profile.
- Review transactions of PB clients during Ongoing reviews to identify red flags
- Review name screening assessments done by Front Office (FO), to determine if hits are false positives
- Provide independent assessment on materiality of true / unverifiable hits identified.
- Independently conducts monthly quality assurance control testing of PB's end-to-end process including Sales, CA and KYC to ensure compliance with internal and regulatory policies.
- Identify root cause and propose solution to address issues raised by external and internal auditor, AML compliance in their annual or ad-hoc reviews.
- Preparation of management reports for all necessary management meetings
Summarised by NextRaise from the employer’s description, which follows in full below.
Full description from employer
Define your future at HL Bank Singapore
Functional (job responsibilities)
Customer Due Diligence/AML/KYC
- Review Account opening, Periodic review and triggering event submissions to ensure compliance to MAS Notice 626 (AML/CFT requirements) and its associated guidelines, specifically concerning Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD).
- Source of Wealth (SoW) Corroboration:
- Analyse and request for relevant corroborative evidence to validate the legitimacy and path of a client's entire accumulated wealth (e.g., from business sale, inheritance, successful career).
- Review documents submitted to identify and verify Private Banking (PB) clients including identify complex ownership structures and understand legal arrangement of corporate entities
- Provide guidance Relationship Managers (RM) with SOW journey write-up as required
- Liaise with Compliance Team as 1.5 to ensure quality Account opening, Periodic review and Triggering Event Review submission.
- Transaction lookback:
- Verify and analyse origin and purpose of funds being transferred to the bank, ensuring consistency with the client's profile.
- Review transactions of PB clients during Ongoing reviews to identify red flags
- Name Screening:
- Review name screening assessments done by Front Office (FO), to determine if hits are false positives
- Provide independent assessment on materiality of true / unverifiable hits identified.
2) Audit Controls Testing and Requirements
- Independently conducts monthly quality assurance control testing of PB’s end-to-end process including Sales, CA and KYC to ensure compliance with internal and regulatory policies.
- Identify root cause and propose solution to address issues raised by external and internal auditor, AML compliance in their annual or ad-hoc reviews.
3) Management Reporting
- Preparation of management reports for all necessary management meetings
Managerial (team/group responsibilities)
Provide necessary guidance to Junior team members and/or propose process enhancements to improve relevant KYC processes.
Organizational (organizational responsibilities)
To carry out any other duties as directed by Company Management.
About HL Bank Singapore
HL Bank Singapore is the Singapore branch of Hong Leong Bank, a premier regional financial services leader headquartered in Malaysia with a rich heritage of over 120 years. Listed on Bursa Malaysia and a key member of the extensive Hong Leong Group, we operate a robust network of approximately 250 branches across Malaysia, with a strategic regional presence in Singapore, Hong Kong, Vietnam, Cambodia, and China.
As a Full Bank in Singapore, we serve as a vital hub for the Group’s regional ambitions. A cornerstone of this strategy is our sophisticated "advisory-first" wealth proposition through HLB Private Bank and HLB Priority. By combining our deep Asian market roots with a landmark strategic alliance with Swiss private bank Lombard Odier, we provide world-class wealth architecture and bespoke solutions for our clients.
Beyond our wealth focus, we deliver excellence through four core business pillars: Business & Corporate Banking, Personal Financial Services, Private Wealth Management, and Global Markets. This "Integrated Approach" allows our talent to collaborate seamlessly across segments, ensuring we effectively meet the multifaceted needs of high-net-worth individuals, business founders, and corporate enterprises alike.
At HL Bank Singapore, our people are central to our success, and as a recognized Human Capital Partner (HCP) by TAFEP, we are committed to progressive workplace practices and your professional development. We seek digitally inclined, customer-centric performers who thrive in a technology-focused environment, where we empower our teams with AI-enhanced tools and next-generation platforms to lead the industry. As part of a large, diversified conglomerate, we offer unrivaled opportunities to explore new grounds and build a challenging career path within a rapidly expanding regional landscape. Join us to be part of a proven value-creation story and shape the future of your own story at HL Bank Singapore.
Company
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