Client Due Diligence Specialist - Onboarding (Manager/AVP)

• Ensure thorough, timely and quality review new client onboarding requests including account approval.
• Advise front office and other colleagues within the team on client onboarding matters including deficiencies in KYC information and documentation for onboarding.
• Perform independent and thorough review, including KYC/AML/Tax risk identification, plausibility checks as well as corroboration of clients Source of Wealth and Source of Funds.
• Review and approve new business relationships with Independent Asset Managers, Referral Intermediaries, and counter parties.
• Collaborate with key stakeholders involved in the process, Relationship Managers, Team Heads, Market heads, Compliance and other colleagues within the bank to ensure seamless on-boarding.
• Train team members as well as colleagues from front office on matters pertaining to KYC AML.
• Assist team lead / functional head on tasks related to client onboarding as well as post client onboarding including acting as a deputy as and when delegated.
• Assist to response queries, clarifications resulting from internal, external, statutory or regulatory audit
• Identify gaps and implement controls including system and process enhancement that are fit for purpose and to address current and future requirements in a rapidly changing regulatory environment and an evolving AML landscape, in line with industry best practices.

• Conduct reviews of existing clients to ensure their biodata remains updated
• Handle the alerts arising from the periodic screening of the bank’s customer database
• Conduct periodic reviews of KYC and CDD information of existing relationships including but not limited to higher risk relationships and financial intermediaries.
• Identifies and investigate a suspicious activity, prospect or client and make necessary recommendations to senior management to file the appropriate suspicious transaction reports to CAD and MAS/ HKMA.
• Investigation of suspicious transactions surfaced during periodic review.
• Liaise with relationship managers / business compliance managers for issues and deficiencies identified during review.
• Update and implement periodic review processes.
• Guide team members or relationship managers in conducting the periodic review.

• Support Client Onboarding & Lifecycle Management on the matters that are assigned from time to time in line with overall priorities of the bank.
• Collaborate with other colleagues within the bank to drive and assists remediation and other projects as and when required.
• Prepare Management information reports based on agreed requirements.
• Organize meetings with Front Office and focus group training to align front office practices with current procedures.

• Minimum 5 years of experience in AML/KYC under a risk and control function in a private banking environment.
• Knowledgeable and sensitive to the risks (PEP, Sanctions, reputational risks) and suspicious activities typical of private banking clients.
• Knowledge of regulations including MAS, HKMA and other intergovernmental / non-governmental organization such as FATF / Wolfsberg.
• Client onboarding approval experience in HK and / or SG in PB industry (SoW/SoF, client risk assessment, purpose of accounts).
• University degree in Accountancy, Finance, Business Administration or equivalent, or higher education.
• Preferred skills
• Strong understanding of AML/CFT framework and the regulatory environment and its applicability to Private Banking clients in the areas of onboarding, on-going client reviews and transaction monitoring.
• Familiar with MS Excel, MS Word

OCBC Bank