VP/AVP, Compliance Officer, Group Legal, Compliance & Secretariat (based in DBS Dubai Branch)
Singapore, Singapore | Nationally Chartered Bank
Industry:Banking / Investment Banking
Functions:Financial Services Professional
Legal / Compliance
Job Description:95 people have viewed this job
Group Legal, Compliance & Secretariat ensures that the bank's interests are protected by zealously guarding and enhancing its reputation and capital. We also work to maintain a good standing with all our regulators, customers, and business partners. Because we believe that at the heart of business banking is to uphold the values of trust and integrity for all our stakeholders.
This role sits in DBS Dubai LCS Programme Management.The role is to build, plan and manage key strategic series of initiatives or programme in-line with, and to support AML, Sanctions and CFT risk and operations functions. The strategic initiatives programme strive with an end in mind to advance the LCS organization as a unit - including overseas locations - forward, embracing the best in advent technology and risk management practices against a backdrop of an ever evolving regulatory and business landscape.
The role also has regional implication as strategy building and planning will take current varying landscape found at overseas locations into account with an aim to standardize, and to support levelling of services across the region.
Supports the Head of Compliance in ensuring the Branch’s compliance with local regulations i.e. Dubai Financial Service Authority (DFSA) Rules & Regulations; Client On-boarding relating to IBG and PB in line with Anti- Money Laundering, Counter-Terrorist Financing and Sanctions Module of DFSA. Ensuring the branch’s compliance to relevant Head Office (Singapore) regulations, policies and procedures.
Ensures that the branch meets its regulatory obligations as per DFSA Rulesapplicable in the DIFC and relevant Head Office (Singapore) regulations, policies and procedures.
Client On-boarding relating to IBG and PB in line with Anti-Money Laundering, Counter Terrorist Financing and Sanctions Module of DFSA
Development and Execution of the Compliance Monitoring Plan
Conduct Business AML Risk Assessment
Compliance Advisory to Business
Maintenance and Update of Compliance Policies and Procedures
As per Job duties and responsibilities as indicated below
Support Head of Compliance:
Ensure that the branch meets DBS Group’s policies and standards in relation to LCS matters;
Conduct Business AML Risk Assessment
Regular regulatory updates to senior management and key stakeholders;
Provide guidance to Business unit / support unit on the implementation of compliance and regulatory processes as per DFSA rules;
Complaint Handling and Investigation;
Leave cover in absence of team members
Transaction monitoring for IBG division
Monitoring and oversight on Transaction Surveillance Unit for PB Transactions
Advising IBG/T&O on trade finance related AML/CFT / Sanctions queries
Coordinating with Group FCSS on local queries related to AML / Sanctions
Any adhoc matters as required.
Update compliance register; maintain compliance related records as per Group Compliance Manual and any other relevant records under the purview of Compliance.
Conducts Compliance related trainings
Conducts and completes compliance testing and reporting as per approved Compliance Testing plan and carrying out monitoring programs.
Support customer on-boarding by PB & IBG and ensure that complies with DFSA rules and anti-money laundering legislation applicable in DIFC, and relevant Head office (Singapore) regulations, policies and procedures.
Assist in updating Policies and Procedures to ensure banking procedures accurately reflect compliance requirements
Implementation and ensure adherence to DBS policies on suitability & appropriateness, cross border, client confidentiality and Chinese walls.
Support Head of Compliance in replying internal or external audits queries / regulatory risk assessment visits
Ensure periodic reporting requirements (internal and external) are adhered on a timely basis
Actively support LCS Dubai in new business initiatives/ projects in the branch from a regulatory perspective.
At least 8 years’ banking experience in with at least two years’ experience in governance or control functions in the financial services industry.
Professional qualification, if any
Certifications in AML such as Certified Anti Money Laundering Specialist (CAMS) or International Association Diploma in Anti Money Laundering would be desired.
Knowledge of banking and financial services laws and regulations, private banking business, compliance best practices and understanding of financial products and systems
Ability to be client centric while balancing business needs and controls.
Excellent interpersonal skills to manage relationships with Front Office stakeholders.
An efficient solutions provider with strong analytical and creative problem-solving skills
Sound understanding of AML regulations
Strong organizational and communication skills
Ability to work independently and in team
Ability to use judgement and sound common sense when reviewing a customer/case to ensure all issues and concerns are managed properly and timely
Ability to develop strong partnerships with Business/Support Units as well as with AML Compliance team and colleagues in the FCSS and LCS group