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KYC Operations Manager, Wealth Management

Job Seekers Singapore Banking Operations Financial Services - Banking, Financial Services - Financial Markets, Financial Services - Private Banking

Job Summary

  • Singapore
  • Permanent
  • BBBH792966
  • Sep 13, 2021
  • Competitive
Job Description

Morgan McKinley is working in partnership with a Global Bank who is well known for their top tier Investment Banking & Wealth Management services. They are one of the well-recognized tier one houses.

The Singapore team is looking for a VP to join their KYC Operations department. Reporting to the Head of Department, this is a leadership role and you will be expected to lead members across Hong Kong and Singapore office focusing in KYC/CDD which covers client on-boarding, rolling reviews and static data maintenance.

Role and responsibilities

  • Understanding of overall and specific risks within the process, controls available to mitigate such risks and open risks, in supporting the business.
  • Document the open risks, assess magnitude and formulate actions.
  • Ensure risks, controls, procedures and enhancements are documented / updated appropriately and sit within the remit of applicable policies.
  • Able to provide the leadership to the team for running the on-boarding or rolling review process on a timely manner or ahead of schedule.
  • Able to provide proper guidance to the team on required standard and ensure delivery of quality review without major defects.
  • Ability to perform hands on task related to KYC and documents, update system with relevant details, perform checks, validate & upload documents
  • Ensure client information and documents are validated & updated correctly on the systems for seamless feed to other internal systems and reporting (Internal, regulatory etc.).
  • To monitor and manage the new accounts in the pipeline based on priority / agreed SLA; and rolling review accounts in the pipeline without overdue.
  • Ensure client classification is applied in accordance with the prevailing rules and regulations in Hong Kong and Singapore.
  • Continuously work with FCC, Compliance, Legal, Business on completing KYC and client information updates.
  • Identify system / process enhancement focusing on controls and efficiency and work with different stakeholders to implement.
  • Face Internal & external Auditors or regulators and have good understanding of process to provide process walkthrough and samples.

Key requirements

  • Minimum 10 years of relevant experience in compliance, risk management or operations with an investment bank or Wealth Management business, with 5 years of KYC checking experience
  • Prior leadership experience of 3-5 years
  • Ability to work with minimal supervision, oversight and with cross region teams
  • Able to handle reasoning and justification on KYC matters to AML Compliance and Legal teams
  • Well versed with the KYC requirements as suggested by MAS and other major Asia regulators
  • Have a good understanding about the tax implication when on-boarding a new clients or perform a support of change in circumstance.
  • Ability to understand different risk types associated with Clients (Individuals, Private companies, corporation)
  • Strong skills in documenting & storing exceptions and approvals  Flexible and quick to adopt change in policies, systems and requirements
  • Has intermediate knowledge on MS Excel (Formulas, Pivot and Vlookups, etc.) and MS Power points
  • Knowledge and experience on Robotics (e.g. UiPath) and Data Visualization Tool (e.g. PowerBI) is a plus

Only shortlisted candidates will be responded to, therefore if you do not receive a response within 14 days please accept this as notification that you have not been shortlisted.

Morgan McKinley Pte Ltd, EA License No: 11C5502

Lee Boon Hou (Hagen), Registration No: R1870932


Consultant Details

Consultant Details

Hagen Lee
Hagen Lee
  • Senior Consultant
  • +65 6818 3140