CDD Head

Head, CDD Business Advisory and Support

[This role is based in Singapore.]

The CDD Business Advisory and Support (CDD-BAS) unit operates as the 1.5 line of defense and functions as a bridge between Branch's Business segments (1st line of defense) and Control / Support (2nd line of defense) unitsto support the Corporate & Institutional Banking (C&IB) and Wealth Management (WM) businesses on Client Due Diligence (CDD) related matters including:

• Documents preparation required for client onboarding and periodic reviews
• Liaising with key stakeholders like Business, Compliance and Ops units to address any gaps in the CDD reviews
• Monitoring of client accounts (including onboarding conditions, adverse news, documentation validity) and initiate trigger reviews
• Conduct AML/CFT related in-house surveillance reviews along with business and compliance
• Prepare MIS (e.g. monthly CDD statistics report) and respond to AML/ CFT regulatory surveys
• Initiation and implementation of process improvement and digital transformation projects to streamline and automate the name screening and review process
  

Job Purpose for Head, CDD Business Advisory and Support

• Responsible for the smooth running of the CBAS team, ensuring timely, efficient and effective management on the end-to-end process of all CDD related matters
• Subject matter expert on CDD matters for the C&IB and WM businesses, representing the businesses in CDD related matters
• Act as trusted advisor to the C&IB and WM businesses on CDD matters
• Advising the businesses on CDD matters and complex CDD cases, leveraging on in depth working knowledge on MAS regulations and guidelines relating to Anti Money Laundering (AML) and Counter Financing of Terrorism (CFT); facilitate and co-ordinate with RMs/ front office and other stakeholders (Compliance, Ops, HO CDD teams)
• Initiate and implement in process improvement and digital transformation projects to streamline and automate the name screening and review process
• Managing outsourcing activities
  

Job Content

1. CDD Advisory

• Act as business advisor on CDD matters, providing the business with guidance and advice on CDD requirements (internal policies and regulations), exercising judgement calls and recommending variation of documentation and approach along with risk mitigants to address CDD requirements.
• As the CDD subject matter expert for the business, facilitate discussions on CDD/AML/CFT matters on behalf of the Business, coordinating with key stakeholders such as Compliance, Ops, Head Office Front Office and CDD teams.
• Reviews complex CDD cases prior submission to Client Acceptance and Review Committee "CARC"
• Be the escalation point for CDD related matters, proactively solving issues and escalating appropriately to business heads and local stakeholders as required.
• Conduct CDD related trainings where necessary.
• Provide support and guidance to the team on handling of complex cases.
  

2. Oversee the team in CDD Documentation Preparation and Client Monitoring

• Manage day to day activities of CBAS team to ensure that the team:
• Works closely with key stakeholders (Compliance, Ops, RMs, Analysts etc.), Head Office, and potentially directly with clients as required, to obtain all necessary supporting evidence for client due diligence.
• Undertakes screening activities to ensure Sanctions, PEP and Adverse Media screenings are performed in accordance with policy and regulations.
• Monitors documentation deferrals and follow up on fulfillment of CARC conditions.
• Monitors adverse news and other triggers to ensure timely initiation of trigger reviews.
• Monitors validity of client documents and initiate requests for updated documents.
  

3. Participating in Financial Crime Risk Committee

• As member of the FCRC, provide CDD matters updates to FCRC on a quarterly / adhoc basis
• Ensure timely and accurate preparation of agenda / meeting materials.
• Ensure prompt closure of action items
• Propose appropriate processes and risk-based approaches on behalf of the business to Financial Crime Risk Committee (FCRC)
• Memo writing and presentation to FCRC to seek approval
  

4. Resource Planning

• Liaise regularly with business to discuss pipelines, conduct workload planning, review status of key onboardings and prioritize open requests.
• Establish and monitoring of KPIs for the unit.
  

5. Audit and Reviews

• Primary point of contact for the business for any audits and reviews relating to CDD / AML / CFT.
• Raising any concerns or observations to Business Heads / Governance Head to enable proactive decision making.
• Providing necessary progress updates around addressing audit observations to ensure timelines are met.
• Take the necessary action to close out audit observations / findings, or where dependent on other units, systems or resources, following up until such closure has taken place.
  

6. Process Improvement and Project Management

• Identify, initiate and implement process improvement and digital transformation projects to streamline and automate the name screening and review process.
• Actively participate in and provide business inputs to CDD related system rollouts and co-ordinate with operations, IT, operations risk, compliance, group units as required.
• Timely update of policies, procedures and frameworks where required.
• Conduct gap analysis against MAS issued circulars and regulations.
• Ensure accurate and timely completion to the CDD related inputs required for the annual Financial Crime Risk Assessment "FCRA" and engage Businesses to review and agree on the responses
  

7. Oversee outsourced activities

• Oversee outsourced activities (i.e., Adverse Media screening alerts management that is outsourced to ENBD Global services)
• Conduct periodic service review meetings with Outsourced Service Providers to ensure adherence to requirements set out in SLA and MAS Outsourcing Notice and Guidelines.
  

8. Team Building

• Frequently interact with key stakeholders such as Compliance, Business Operations and Head Office teams to develop strong partnerships, eliminate roadblocks and ensure continuity of information flow.
• Interact regularly with team members to build strong team spirit.
  

9. Business Governance

• Delegate to Head of Business Governance.
• Supports governance initiatives as delegated by the Head of Business Governance.
  

10. Ad-Hoc Duties:-

• Writing Dept meeting minutes to document discussion points and follow up actions.
• Conduct trainings and preparation of training / presentation decks where applicable.
• Adhoc presentations to Head Office visitors, as and when required.
  

Requirement:-

• Min a Bachelor’s degree from a reputable university. ACAMS Certified is desirable.
• Min 10 years of banking industry experience in KYC / CDD or client onboarding (Audit, Risk, AML may also be areas of experience).
• Min 3 years of experience in a leadership role (i.e., ppl management, delegation, motivation etc.).
• In depth working knowledge of CDD / Compliance / AML procedures and standards.
• Well versed in MAS regulations and guidelines relating to Anti Money Laundering (AML) and Counter Financing of Terrorism (CFT).
• Strong analytical skills with high attention to detail and accuracy.
• Prior experience of adhering to controls and compliance standards.
• Strong time management, organizational, relationship building skills.
• Strong verbal, written, presentation and communication skills.
• Multi-tasking: Ability to handle multiple tasks on hand and complete them simultaneously.
• Ability to grasp / learn complex concepts quickly and to articulate these clearly.
• Resourcefulness, decisiveness, information seeking.
• Passion to impart knowledge and guide.
• Customer service focused.
• Achievement oriented, self-motivated.
• Adaptable to fast changing environment.