Senior Financial Crime Investigations & Operation Analyst

  • Negotiable
  • Singapore
  • Permanent, Full time
  • Standard Chartered Bank
  • 21 Sep 16

Please view Job Description for details.

  • Assist the Regional Head FCC Controls and Head FCIO (ASEAN), to meet his/her obligations in terms of local laws, regulations and Group Policies and Standards for the prevention of money laundering.
  • To promote, throughout RFCIO team, the culture and practice of Compliance within the letter and spirit of regulatory requirements and ethical standards in the conduct of business, and to oversee the compliance unit with those requirements and standards.
  • To investigate cases and transactional trends for the purpose of identifying suspicious transactions / activities and escalate Suspicious Transactions Reports to the Head FCIO (ASEAN) or designate, in compliance with Group Policy and Procedures, laws and regulations in Singapore and other ASEAN and South Asia regions on AML/CFT.
  • To investigate and dispose CSU alerts escalated by Chennai CSU team, in compliance with Group Policy and Procedures, laws and regulations in Singapore and other ASEAN and South Asia regions as appropriate.
  • To perform Quality Assurance and support other related activities for TSU and CSU.


  • Key Roles and Responsibilities

    Overall Responsibilities
  • Scope of role include Standard Chartered Bank (SCB) Singapore Branch, SCB (Singapore) Limited, Standard Chartered Bank ASEAN and South Asia countries and Governance oversight of all SCB Subsidiaries in the company as Regional Financial Crime Intelligence Operation Analyst.
  • Develop effective controls and procedures for identifying, monitoring, reporting and record keeping of suspicious activities - ensure that significant cases of suspected money laundering are subject to appropriate investigation and disclosure where necessary. Keep the procedural manual up to date.
  • Ensure that suitable procedures and controls are in place for Transaction Surveillance Unit. This includes ensuring that:
    • Staff are adequately trained and made aware of the most up to date local legal and regulatory requirements
    • Appropriate methodologies, management information and approval processes are in place to monitor and manage the level, nature and timeliness of escalated cases and the resources required to action them.
    • Effective quality assurance processes are in place
    • Timely identification and escalation of key risk issues to the management
    • Meet SLA relating to TAT and accuracy, ensure at minimum productivity levels are met, review capacity levels on a regular basis, roll out new DSes within agreed time frame and ensure timeliness in submission of MIS.
  • Contact point for all external law enforcement agencies in respect to Production Orders to the Bank. Also conducts further review of customer's features in Production Orders for possible misuse of their accounts with the Bank.
  • Maintain registers such as SAR, Case registers up-to-date & ensure timely escalations, trigger event mails are sent to RM/business touch points.
  • Ensure that records of suspicious activity reports are kept in accordance with the Bank's record retention requirements.
  • Coordinate information requests from Commercial Affairs Department relating to STRs and ensure that they are promptly attended to maintain all records evidencing the Bank's compliance with respect to each request. Ensure compliance with Singapore regulations (specifically MAS 626 and such other regulations as disseminated by Legal & Compliance, Singapore)
  • In respect of transaction surveillance, establish and develop effective working relationship with Business Units, Group Financial Crime Compliance, GSSC Transaction Surveillance team and Country Compliance.
  • Coordinate information requested from supported countries and Group FCC, relating to AML and ensure that they are promptly attended.
  • Monitor with the respective CMLPO's and external resources significant changes to local money laundering risks and legal / regulatory requirements. Communicating these changes and providing guidance to the FCC tSU on how such requirements should be met.
  • Maintain or coordinate with the relevant operations unit to ensure that the relevant lists and database used in the transaction monitoring and review of potentially suspicious activities are up to date and promptly notify the relevant units of the change where appropriate.
  • Conduct quality assurance reviews on work performed by the GSSC Transaction Surveillance team, CSU team and cross functional quality assurance check within RFCIO.
  • Ensure quality of review undertaken in TSU Chennai satisfies the requirements of the business and the local legal and regulatory requirements pertaining to respective countries. This includes reviewing the appropriateness of actions taken on a sample of alerts / cases.
  • Ensure that appropriate internal resources, systems, procedures and controls are in place and are operating effectively.
  • Secure 'Acceptable' audit ratings for the unit and ensure timely resolution of audit and risk related issues.
  • Establish and develop effective working relationships with Head FCC (ASEAN) and South Asia countries and other personnel of business units.
  • Cooperate and support the management in implementation of any other initiative (including intelligence exchange but not limited) that may arise during the course of the year.
  • Ensure timely reporting and escalation of significant risk issues to management.
  • Support Technology initiatives up to and including development of BRDs to support required system enhancements, UAT and system evaluations.
  • Coordinate IT initiatives and managing database and systems used by the unit to ensure operational issues are promptly addressed
  • Coordinate & perform BCP / DR testing in addition to taking appropriate measure for managing crisis situation.
  • Initiate and drive operational excellence activities to improve effectiveness & efficiency of the unit.
  • Build overall talent within the team by encouraging staff members to undertake local / international certifications relating to AML and cross train members of staff.


  • Qualifications and Skills

  • Professional with core compliance or business skills.
  • Effective collaborative skills that contribute to positive working relationships with GSSC, other ASEAN and South Asia Country's FCC and SCB Singapore Business Units.
  • Sound knowledge of applicable AML Laws and Regulations of the respective country and the ability to interpret and apply them to actual situations.
  • Comply with Group Money Laundering Prevention Policy and Procedures to the extent applicable and reporting all Suspicious Transactions to the Line Manager/Team Lead.
  • Detailed understanding of relevant Group and local policies and standards.
  • Good knowledge of banking products and support structure.
  • Good data analytics, application & interpretation skills. An inquisitive approach to practices and procedures. Personal authority and integrity. Independence and resilience.
  • Strong written and verbal communication skills.
  • Technical Competencies
    Category
    Competency
    Proficiency Level
    1.0: Execute Compliance Governance, Frameworks and Models
    1.1: Partner with the business to make decisions based on the knowledge and interpretation of current and possible future policies, practices, trends and information of financial crime
    Core or Intermediate
    1.2: Develop and implement financial crime compliance arrangements/frameworks (programs, policies and procedures) for bank and business lines
    Core or Intermediate
    1.3: Develop and implement risk and Market Integrity methodologies
    Core or Intermediate
    1.4: Deliver effective FCC/Sanctions/AML/ABC training programs to meet the training needs of the business
    Core or Intermediate
    1.5: Advise on how local culture might contribute to financial crime vulnerability
    Core or Intermediate
    2.0: Advise on Sanctions / AML / ABC
    2.1: Analyse comprehensive regulatory impact of Sanctions matters on the bank's business and its operations
    Core or Intermediate
    2.2: Analyse regulatory impact of AML/ABC matters on the bank's business and its operations
    Core or Intermediate
    2.3: Advise business on compliance & regulatory matters relating to Sanctions/AML/ABC as well as financial services industry related practices
    Core or Intermediate
    2.4: Evaluate products, services, geographies and customer segments of the bank that might be vulnerable to Sanction/AML/ABC and regulatory risks
    Core or Intermediate
    3.0: Implement Identification, Monitoring, Testing, and Reporting
    3.1: Implement prevention and detection client due diligence (CDD, EDD and CIP) to verify the identity of clients
    Core or Intermediate
    3.2: Implement FCC/sanctions/AML/ABC risks identification and assessment and advise business on the findings
    Core or Intermediate
    3.3: Resolve suspicious activity alerts (SARs)
    Entry, Core or Advanced
    3.4: Partner with Business and Operational Risk to identify and mitigate financial compliance risks
    Core or Intermediate or Advanced
    4.0: Manage and Mitigate Risks
    4.1: Conclude investigations of non-compliant activities
    Core or Intermediate or Advanced
    4.2: Partner with legal counsel for advice on technical matters
    Core or Intermediate
    4.3: Implement and follow up on strong recommendations to address high risk situations (such as dropping a long standing client/product line/country)
    Core or Intermediate or Advanced
    4.4: Review system safeguards and recommend process enhancements
    Core or Intermediate or Advanced
    5.0: Manage FCC Regulatory Relationships
    5.1: Participate in regulatory and supervisory meetings and consultations
    Core or Intermediate
    5.2: Partner with legal counsels for matters regarding individual liability and country expertise
    Core or Intermediate
    5.3: Resolve conflicts of interest arising from regulations and information security
    Core or Intermediate
    5.4: Partner with regulators locally or globally
    Core or Intermediate
    5.5: Influence and help develop global standards
    Core or Intermediate