Reporting to the APAC Regional Head of AML Compliance, the successful candidate will have a proven track record to be able to demonstrate the ability to lead a team of compliance professionals, having primary accountability for 2nd line of defense responsibilities for the Citi Singapore franchise Anti-Money Laundering Program. The role of the Primary AMLCO is to ensure the overall execution of Citi's AML Program and local regulatory requirements across all legal vehicles in Singapore. The role will have direct accountability for the key activities in India as outlined below.
In addition, the role may have AML country cluster responsibilities acting as a point of escalation for some or all of the Southeast Asian Country AML teams and will provide oversight and guidance as appropriate for the key activities outlined below.
Responsibilities include but are not limited to the following:
Regulatory Engagement responsibilities:
Serve as principal contact with local regulators on AML matters
Lead in the preparation and engagement with local regulators for AML-related regulatory examinations and supervisory visits;
Respond to inquiries from local regulatory bodies, governmental agencies and/or law enforcement authorities, as required.
Regulation and Policy responsibilities:
Review the Regulatory Inventory to confirm inclusion of all AML laws, rules and regulations (LRRs) for the country or legal vehicle;
Identify new AML LRRs and changes to existing LRRs, working with the Chief Country Compliance Officer (CCCO), as appropriate;
Analyse impact of regulatory changes and develop and oversee action plans to achieve compliance; working with the CCCO and impacted business lines/functions, as appropriate.
Raise Corrective Action Plans (CAPs), as applicable, to ensure compliance with local AML-related laws, rules and regulations;
Revise local AML policy documents to align with Global AML policy documents and LRR updates and socialize with relevant country staff.
Know Your Customer (KYC) responsibilities:
Act as KYC Risk Evaluation Management Designee as required, reviewing customer due diligence records for clients booked to the relevant jurisdiction/legal vehicle;
Ensure that the relevant local rules and requirements for customer due diligence are accurate and up-to-date in critical business systems related to onboarding and account documentation;
Investigation and reporting responsibilities:
Act as Citi Financial Intelligence Unit (FIU) designee, as required, reviewing AML transaction monitoring alerts as well as manual escalations and undertaking investigations of potential suspicious activity;
Prepare and submit Suspicious Activity Reports (SARs) to local authorities as applicable;
Work with the regional AML Monitoring Risk Management team to ensure that appropriate transaction monitoring is in place as required by local regulations. This may also include the development and/or implementation of monitoring processes and solutions (e.g., automated vs. manual processes, thresholds and other parameters)
Prepare, review and/or provide oversight for any other regulatory mandated reporting such as cash transaction reporting, as applicable
Assess local AML training needs;
Coordinate with Training Representatives to ensure local training attendance records are documented appropriately;
Complete annual continuing education requirements
Governance, Risk & Control responsibilities:
Ensure that local AML-related issues requiring Corrective Action Plans are resolved in a timely manner, regardless of whether the issue is owned by second-line or first-line of defense;
Undertake regular Manager Control Assessment (MCA) testing for local AML assessment unit and ensure results are documented appropriately, with deficiencies actioned as required;
Lead in the preparation for local AML-related internal audit reviews and Compliance Assurance Risk Reviews;
Complete the annual AML Enterprise Wide Annual Risk Assessment for local AML assessment unit and assist in other ad-hoc global and regional analyses including sanctions and anti-bribery, as required;
Report to local AML committee(s) and/or BRCC or other applicable governance forums on AML-related matters;
Ensure that any local AML-related issues requiring escalation are brought to the attention of regional senior management and to regional governance forums, as appropriate.
Non-presence country (NPC) oversight where required
Work with Business to ensure proper AML controls are in place for new product/services/locations
Championing a high performance environment and implementing a people strategy that attracts, retains, develops, embraces diversity and motivates teams (includes AML colleagues) by fostering an inclusive work environment
Communicating vision/values/business strategy and managing succession and development planning for the team
and/or relevant experience(s)
The ideal candidate should have a minimum of 10 years of related experience in Anti-Money Laundering Compliance or a similar compliance or risk control-related function in the financial service industry.
Bachelor's Degree or relevant equivalent experience or professional qualification. Professional qualification may include ACAMS Certified Anti-Money Laundering Specialist ("CAMS") and International Compliance Association (ICA) certification in Financial Crime Prevention.
Preference will be given to candidates with AML/ Compliance/ Legal/ regulatory / audit background and/or internal candidates who have a proven track record in leading teams in a similar role.
Preferred: Strong candidates will have advanced technical knowledge of AML regulations and requirements, experience within a highly complex, global financial institution, regulator or related industry.
Knowledge and skills
(general and technical)
Fluency in English language;
Prior experience working in Anti-Money Laundering, regulatory compliance, fraud, audit, in-business risk or related role.
Local language proficiency preferred
Credibility as a subject matter expert and experience of dealing with issues that have a high impact at all levels of the organization;
Experience of working with key country level regulators and industry associations;
Knowledge of local regulatory requirements and obligations and the ability to identify emerging compliance issues and themes;
An ability to influence senior business leaders on all AML risk-related matters affecting the business. The individual should have the ability to independently challenge, when needed, while at the same time being supportive and solution-based and not being perceived as obstructive;
An ability to be "hands on" and "in the trenches" with the direct team, while also bringing a sense of strategic vision and a global sensibility to the function;
Ability to navigate and negotiate through conflicting demands to maintain focus on priority objectives while ensuring key stakeholders' needs are met;
Strong team leadership, communication, interpersonal and management skills, with a track record of leading through change and the ability to effectively communicate the strategic vision to various stakeholder groups;
Effective negotiation skills, a proactive and "no surprises" approach in communicating issues and strength in sustaining independent views. Strong presentation and relationship management and influencing skills are essential;
The ability to thrive and execute in a complex, highly matrixed, global environment;
Job Family Group: Compliance and Control
Job Family: AML Compliance & Risk Mgmt
Time Type: Full time
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