JOB PURPOSE:In supporting FAB Singapore and FAB Labuan branches, the Compliance Manager will be responsible to support the VP, Regulatory Compliance, for compliance advisory and regulatory reform management in relation to relating to regulatory requirements issued by the Monetary Authority of Singapore (MAS) and Labuan Financial Services Authority (LFSA). The Compliance Manager will also in the role, be responsible for compliance testing and sample checks as well as Compliance projects execution and management, ensuring adherence to governance processes, preparing Compliance dashboards and management reports, and instituting or updating of policies and procedures.
The Compliance Manager will also assist the Regional Head of Compliance Asia in work relating to regional compliance matters covering FAB’s offices in India, Hong Kong, China, Indonesia and Korea.
KEY ACCOUNTABILITIES:To assist the VP, Regulatory Compliance in the following regulatory compliance related tasks:
Provide support primarily on regulatory compliance advisory and regulatory reforms on Singapore and Labuan regulatory requirements issued by the MAS and LFSA including, inter alia, Banking Act 1970, Securities and Futures Act 2001, Financial Advisers Act 2001, Labuan Financial Services and Securities Act 2010 and subsidiary regulations/notices promulgated by the main Acts. Provide support on regulatory compliance advisory and regulatory reforms pertaining to Singapore and Labuan Foreign Account Tax Compliance Act and Common Reporting Standard. To coordinate and provide value-added feedback on MAS Consultation papers relevant to Singapore Branch by keeping abreast of developments in the local regulatory landscape. Implement, maintain and review the internal Compliance Framework consisting of policies, standard operating procedures and best work practices (tools), etc, covering both regulated and non-regulated business activities and the bank’s business operations, and monitoring oversight to ensure their robustness and effective implementation and compliance by the respective Business Units and Functional Department(s).To assist in the development, maintenance and updating of Compliance Policies and Procedures for Singapore Branch, taking into consideration changes to Group Policies, local regulatory developments and international best practices. Prepare and update all Compliance dashboards and management information decks.To maintain and update the Compliance Compendiums/Registers for Singapore branch covering all regulatory reforms and changes.Compile information as required by Group Compliance.Prepare and collate information requested by the MAS and LFSA in relation to information requests and surveys.Maintain and update all compliance registers such as crossborder approvals, MAS correspondence, whistleblowing, and regulatory events.Provide compliance support (in conjunction with Control Room) to Business/Function units with respect to personal account dealing, outside business interest/activities and gifts and hospitality.To coordinate, assist with and/or prepare, and submit regulatory reporting where Compliance is the regulatory return owner or assist to lodge such other returns on behalf of the Branches.To support the Branches’ audit remediation efforts and to liaise with Auditors, Inspectors and Consultants. Assist in the execution of Compliance Monitoring Testing, ensuring that the sample documents are ready for review and assisting with the review of documents.Maintain and reconcile all paper and e-filing records in a systematicmanner.Perform any other Compliance-related tasksand handle any projects as may be assigned fromtime-to- time.
Regional Responsibilities:Provide support to the Regional Head of Compliance Asia in regional compliance matters relating to the FAB’s offices in India, Hong Kong, China, Indonesia and Korea.
QUALIFICATIONS & EXPERIENCE:Minimum QualificationA recognized diploma/degree in Business, Banking, Accounting, Finance or equivalent
Minimum ExperienceAt least 5 years of related working experience in regulatory compliance, taxation and consultingSingapore regulatory knowledge, to be supplemented by regulatory knowledge in other jurisidictions within Asia region.Familiar with internal controls and banking operations, particularly regulatory compliance.Good writing and communication skillsSelf-starter, resourceful, independent, active team player with tenacity in managing tight schedulesAbility to multi-task, prioritize and deliver consistent results
JOB PURPOSE: The Head of Regulatory Compliance Singapore is primarily focused on Regulatory Compliance for FAB Singapore branch and FAB Labuan branch, with strong emphasis on advisory and regulatory reform. The personnel will be required to provide direct support to FAB Singapore and all its Business Units and Departments on matters relating to Banking Act, Securities and Futures Act and the Financial Advisers Act and to FAB Labuan for all matters relating to regulations issued by the Labuan Financial Services Authority.
The role is responsible for providing assistance in identifying the relevant legislative, regulatory, and best practices requirements and implementing the necessary systems and internal controls to facilitate adherence to these obligations.
The Head of Regulatory Compliance Singapore will hold the regulated appointment of Compliance Officer of FAB Labuan branch.
An integral responsibility of the Head of Regulatory Compliance Singapore involves supporting the Regional Head of Compliance Asia in discharging his responsibilities across the region with respect to supporting FAB’s Singapore and Labuan branches and Indonesia representative office.
KEY ACCOUNTABILITIES: To assist the Head of Compliance Singapore in the following: Provide support on regulatory compliance advisory covering Banking Act, Securities and Futures Act (SFA), Financial Advisers Act (FAA).To support all FAB Singapore Business Units and Departments from the 2nd line regulatory advisory perspective. These include the Global Markets, Global Corporate Finance, Global Transaction Banking, Financial Institutions, Coverage and Corporate Coverage departments.To maintain and update the Compliance Compendiums / Registers for Singapore branch and keep abreast of global and local regulatory reform, providing thought leadership to the bank for regulatory reform management.To develop, maintain and update Regulatory Compliance Policies and Procedures for Singapore branch, taking into consideration changes to Group Policies, local regulatory developments and international best practices.Provide take the lead for Singapore branch and provide advisory support on cross-border reforms such as FATCA, CRS.To coordinate, assist with and/or prepare any regulatory lodgements as required, which will include MAS Surveys, Information Requests and Statistical Returns. To coordinate and provide feedback on MAS Consultation Papers relevant to FAB Singapore Branch.To develop, establish and implement, maintain and review the Singapore internal Compliance Framework- consisting of compliance policies, standard operating procedures and best work practices etc, covering both regulated and non-regulated business activities and the bank’s business operations, and monitoring oversight to ensure their robustness and effective implementation and compliance by the respective Business Units and Department.To carry out Regulatory Compliance related Monitoring and Assurance Testing on all business units and functions for Singapore. To provide periodic, regular and accurate reports to the Senior Management, both local Singapore and H.O., and if necessary, the Board of Directors, on regulatory compliance matters, which includes the updating of the latest legislations and regulations, raising of significant regulatory matters, concerns or breaches of regulations etc, assess and suggest ways to mitigate and manage these risks.To support the branch’s audit remediation efforts with respect to compliance related matters and to liaise with Auditors, Inspectors and Consultants.To provide regulatory compliance advisory inputs on legal documents and agreements, where appropriate, and where necessary, to seek and liaise with lawyers or H.O. Legal on relevant legal documents works.To handle projects as designated by the Head of Compliance Singapore.
As the Compliance Officer for FAB Labuan, to undertake the same scope of responsibilities as outlined in the points above, but in the context of Labuan Financial Services Authority as the country regulator.
QUALIFICATIONS & EXPERIENCE: Minimum Qualification:A recognized degree in Business, Banking, Accounting, Finance or equivalent
Minimum Experience:Minimum 15 years working experience, of which 10 years must be in Compliance Expert knowledge of the Banking Act, Securities and Futures Act (SFA), Financial Advisers Act (FAA) and corresponding regulations and MAS guidelines and notices.Preferably a minimum of 5 years experience in a team leading capacity.
Knowledge, Skills and Attributes: Ability to communicate confidently with internal and/or external stakeholders including regulators and auditorsStrong communication (oral and written) and interpersonal skillsPossess initiative, well structured, driven and meticulousAbility to work independently and in a teamAbility to multi-task and deliver results under tight scheduleCapable of providing solutions to mitigate risks in the business
JOB PURPOSE: To build, manage, maintain and strengthen the business relationships with corporate clients and commodities clients based in Singapore and SEA region through understanding the clients requirements and proposing suitable solutions/ products and services to clients and through close collaboration with other teams such as Products and Credit partners, Treasury, etc. in order to achieve the target revenue and to ensure the client’s investments would be sustainable and consistent thus enabling high client satisfaction and loyalty.
KEY ACCOUNTABILITIES: Client Relationship Management Participate in the identification of new clients and ensure the proper articulating of the value-add the services/ products and relationship with FAB would offer them in order to attract new clients and increase the size of the department’s portfolio and market share. Manage the daily interactions with clients and provide superior client service to improve clients’ experiences, grow assets and liabilities, and maximise FAB’s profitability. Identify early warning signals and take remedial action to mitigate any credit risk in the portfolio.Ensure that any temporary overdraft or excess over limit are regularised within a reasonable time.Ensure that the Bank is in possession of all required facility documents duly executed by the client.
Business Development Initiate prospects and assess opportunities for an assigned portfolio of corporate relationship and new clients.Work closely with Representative Offices, Branches and Head Office to generate business leads. Cross sell various products of FAB’s portfolio such as corporate finance, transaction services, debt markets, treasury and Islamic banking products to existing client accounts, based on the requirements of the client, in order to contribute to the increase in product penetration and wallet share of the existing clients.
Internal CollaborationDevelop a close working relationship with all departments/ sub-departments including Product partners (Debt Markets, Global Transaction Services, Islamic Banking, Corporate Finance, and Treasury & Global Markets) and Credit Risk and Compliance.
Client and Market AnalysisConduct analysis on clients’ financial health and needs as well as their industries/ markets on regular basis in order to identify lending, selling, and cross-selling opportunities and improve FAB’s profitability.
Credit Approval Collect credit request and documents from the clients and conduct initial analysis, acquiring and evaluating new accounts, structuring credit facilities, performing credit assessment of financial statements, cash flow projections, periodic credit reviews of the existing accounts and loan documentations. Prepare credit memoranda and other information relevant for the credit application package of new credit applications, annual reviews and ad-hoc applications. Ensure the quality of the credit portfolio is maintained by reviewing proposals and identifying and assessing all risks inherent in credit exposures.
Continuous Improvement Identify opportunities for continuous improvement of systems, processes and practices taking into account ‘international leading practice’, improvement of business processes, cost reduction and productivity improvement.
Policies, Systems, Processes & Procedures Follow all relevant departmental policies, processes, standard operating procedures and instructions so that work is carried out in a controlled and consistent manner.
MIS and ReportsPrepare reports in a timely and accurate manner to meet the department’s and FAB’s requirements, policies and standards. Perform any other ad-hoc tasks when assigned.
QUALIFICATIONS & EXPERIENCE: Knowledge & Experience: Degree in Finance, Accounting, Economics, Commerce or relevant disciplines.8 years of relevant experience in corporate banking and client relationship management with multinational banks, preferably with SEA exposure.Strong knowledge of corporate banking product, trade transaction flow, trade structures and transactional risk related to commodity financing.
Skills: Good understanding of the SEA market, with strong Singapore market contacts in Large Corporates.Strong track record of success in identifying, structuring and delivering financing solutions to a diverse client base.Strong marketing, client relationship management and presentation skills.Ability to communicate effectively with clients and internal business units.Awareness of market trends, pricing information and underwriting appetite.Experience in the entire credit process from deal acquisition up to conclusion (including documentation).
JOB PURPOSE: To oversee, supervise and manage the Operations teams (for Trade, Payments, Loan Operations & Treasury) and & Middle Office Support Unit in Singapore.
This role is responsible for:Leading the Operations teams to provide efficient and cost-effective services for Singapore and branches’ that have outsourced their operations to Singapore following the relevant regulations, internal policy and approved procedures.Managing daily fulfilment of clients’ transactional activies, including related client services.Working with stakeholders to implement operation controls, workflows, system and transformation strategy per Group standards and regulatory requirements based on the remit of Operations.Communicating regularly with relevant business units and be updated of market trends and individual customer’s needs.Leading the design, plannning and implementation of new initiativesand change management activities involving operation teamsProviding directions and guidance for all change management.Budget planning and monitoring - headcount and expenses - for the all operation teams.
KEY ACCOUNTABILITIES: Team/ BAU Management: This role leads and manages the Operations teams (Trade, Payment, Loan Operations and Treasury Operations) and Middle Office Support Unit in Singapore, ensuring that the teams deliver on the BAU responsibilities efficiently and in a controlled environment. The team is also offers tansaction processing activities to some branches in the region.
BAU ManagementEnsure all availments of facility complied with the credit conditions stipulated in the Facility Offer Letters and Product Papers for Trade and Non‐Trade Transactions.Ensure proper booking of transactions in the system and timely settlement of transactions.Ensure timely support is provided to the business line with regards to the maintenance of corporate clients’ accounts.Appropriate handling of customer’s queries and those escalated by the team members.Managing and reporting of MIS (volume, capacity utilization, error reporting etc.)Managing regulatory submissions (TGBS & DTCC reporting etc.)Support and enable rollout of new Global Markets (GM) and Global Transaction Banking (GTB) products, including timely support in reviewing New Product Application.
Risk & ControlsMaintain and implement effective controls over the processes in Operations highlighting areas of concerns for remediation and ensuring strict compliance to regulations, policies, and guidelines.Supervise the reviewing of Operating Procedures and workflows in the team, ensuring processes and documents are reviewed regularly and changes to processes are updated and documented.Support the team in all audit engagements, ensuring that audit’s requests are clear and supported effectively, issues highlighted are investigated and responded to swiftly and where necessary matters are escalated for effective management. Maintain no “unsatisfactory” rating and “zero” overdue audit issues for GIA/External Audit.Participate in and plan for the team’s Business Continuity Planning.Act as trusted advisor to lead the investigation of operations incidents and to recommend improvement plan to mitigate risk in the future Ensure completion of RCSA, BIA, BCP and all BCM activities in accordance with the prescribed timelines.
Stakeholder ManagementBeing the first point contact for the Business (Product Heads, RMs, HQ, etc.) and clients in managing Business and Client requirements/needs and also the escalation point when for any operational issues.Communicate constantly with relevant business units and be updated of market trends and individual customer’s needs.
People ManagementResponsible for human capital development - talent identification, career development, succession and back up planning,Contribute to the creation of a high-performance culture and engaged team through effective collaboration.
Project ManagementLeading Operations related projects, transformation plan and system upgrade/implementationParticipate in the UAT of various system enhancements and work with global stakeholders on system and process changes as required
QUALIFICATIONS & EXPERIENCE: Knowlede & Experience:Bachelor’s Degree in Business, Economics, Finance or relevant discipline. Minimum 10 years of proven track record in leading and managing operation teams, preferably with reputable financial institutions.Possesses strong operational experience including managing transactional banking and global market products and preferably with at least 2 core processing competency skills in Trade Operations or Payments Operations or Loan Operation or Treasury Operations and/or Middle Office Support UnitPrior experience in establishing new controls and set up would be an added advantage.Strong understanding of regulatory guidelines/requirements and best practices. Experience in onshore/offshore operations will be an added advantage.
Skills:An influential change leader with strong communication skills who can lead the teams through uncertainty under the high work pressure and agile environment. Strong in coaching and mentoring. Strong level of spoken and written English and Chinese.Self starter, strong supervision, and interpersonal skills.Regional exposure and working experience would be a plus.
JOB PURPOSE:This role is responsible for the daily work of the KYC team, specifically being the main checker for all types of workflows - NTB onboarding or Periodic Reviews or Trigger Event reviews processed by the team. Incumbent is expected to be familiar with processing of all KYC files for all client segments, namely Financial Institutions (Banks and Non-Banks Financial Institutions), Corporate and Private Banking.Subject matter expert on KYC, customer on-boarding matters. Incumbent with Private Banking (PB) KYC domain knowledge or experience is preferred and will have added advantageThe role is the first point of contact for resolution of all queries from front office / clients or other internal stakeholders.The incumbent is designated as the de facto Deputy Head of the Department and steps in during the HOD’s absence.This role requires the incumbent to actively collaborate with Technology and Business partners in all change management activities for the KYC/ Due Diligence/ Static Data team, where he/she is expected to contribute, analyse, review and recommend best practices relating to activities managed by the KYC/ Due Diligence/Static data team.Incumbent is expected to monitor and control operational risk throughout the client lifecycle management process.Ensure that processes are regularly reviewed and improved for changes to the Procedures (Internal) / Regulations so that the organisation remains compliant.Active engagement with Auditors, Compliance, Risk groups to manage functional matters.Manage and supervise Junior team members (makers and checkers) to ensure the BAU is run smoothly and adhere to the department procedures.
KEY ACCOUNTABILITIES:Ensure performance of KYC to cover local regulatory requirements stipulated by Regulators across Asia and in accordance with the bank’s AML and KYC Policies and Procedures. This includes reviewing and checking for completeness of CDD information and supporting documentations (including FATCA and CRS forms) for new and existing customers (periodic review) and performing risk assessments in line with the bank’s AML and KYC Policies and Procedures. This applies to all branches in Asia.Manage KYC / CDD trigger events and reviews and ensure appropriate actions are taken in accordance with the AML and KYC Policies and Procedures.Perform checking functions for name screening and searches on prospective customers and existing customer base.Co‐manage the KYC teams in the APAC region, extend the expertise to perform KYC for APAC region.Review and check for completeness of maintenance of static information to facilitate batch screening as per FAB requirements.Ensure 1st line of defense controls and procedures are implemented effectively.Ensure maintenance of customer lists and keep records accurate and up‐to‐date including archiving the records.Prepare and/or review of MIS at required periodicity, prepare the regulatory reports in a timely, accurate and complete manner for submission.Support preparing and refining design documents describing the process steps for projects on digital initiatives and automation of processesMaintain and keep static customer data accurate and up to date in the Core Banking System for Singapore branch.Prepare and review the MIS at various periodicity and issue reporting, ensure KRIs are not breachedParticipate in projects at the branch and regional level including projects on digital initiatives and automation of processes.Participate in project related to having Singapore branch become the regional hub for processing KYC of the APAC region.Perform any other duties given by the Management on an ad‐hoc and project basis.Support the Asia regions in advisory and checker.
QUALIFICATIONS & EXPERIENCE:Minimum QualificationA recognized diploma/degree in Business, Banking, Accounting, Finance or equivalentACAMs or ICA Certified practitioner
Minimum Experience7‐10 years of experience performing KYC in a banking environment.Work experience / knowledge of cross border regulations for performing KYC for APAC region and / or as external or internal auditor is an added advantage.Possesses in-depth knowledge of Singapore regulations on PB KYC standard, including but not limited to, MAS Notice 626 and other guidelines issued by MASExperience in managing KYC team and other stakeholders Familiar with internal controls and banking operations, particularly anti‐money laundering. This includes good understanding of AML risk, risk ratings, source of funds/wealth, related parties, PEPs etc.Good writing and communication skillsSelf‐starter, resourceful, independent, active team player and able to handle work pressuresAbility to multi‐task, prioritize and deliver consistent results.
