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On-site
Experience
Experienced
About the role
This role sits in the Client Onboarding Team within the COO Division of Julius Baer Singapore. You will review and assess AML/KYC risk for Standard and Medium Risk client relationships, escalating higher risk accounts to Compliance. It suits an experienced KYC or AML professional with people management exposure who is comfortable advising front office and senior stakeholders.
What you'll do
Review and approve onboarding of new client relationships and accounts across individuals, domiciliary companies, legal entities, financial institutions, trusts, funds and external asset managers, ensuring compliance with bank policies, MAS 626 Notice and Guidelines, and mitigating legal, regulatory and reputational risk
Assess the adequacy of Source of Wealth narratives and corroboration submitted by the Front for new prospects and existing clients opening new accounts
Client Onboarding Officer job at Julius Baer, Singapore | WorkJio
Review and assess the risk of opaque legal structures
Address true matches for Sanctions and other AML/CFT risks identified during name screening at onboarding
Advise Front employees on KYC/CDD matters
Advise management and local risk committees on the AML/CFT risk of client relationships
Lead a team of 5-8 Client Onboarding Officers
Support Senior Management in ensuring onboarded relationships comply with regulations and internal policies, actively managing operational, regulatory and reputational risks
Build strong relationships with stakeholders including Front Office, Legal, Compliance and Risk Management teams
Approve or reject new account opening applications for Standard and Medium Risk relationships, escalating higher risk cases to Compliance
Work with Head Office and overseas offices, particularly Hong Kong, Dubai and Thailand, on account opening input
Manage first level escalations from the team and assess if further escalation to the Head of Client Onboarding is required
Conduct quarterly quality checks on approved accounts to identify knowledge or systemic gaps
Ensure KYC/CDD issues are identified, assessed and documented, and that relationships are not established where measures cannot be completed, with timely escalation to AML Controls
Provide timely assistance and cooperation to MAS or law enforcement requests for information
Drive continuous process improvement initiatives
Good to know
Full time position based in Singapore
Requirements
At least 8 years' experience in KYC Onboarding or AML, preferably in Private Banking
Good understanding of the Private Banking and Wealth Management industry
Strong knowledge of MAS 626 Notice & Guidelines
Good understanding of the private banking or trust industry
Experience preparing reports and strong Excel skills
Prior people management experience preferred
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