Senior Associate/AVP, Financial Crime Compliance Officer, DBS Australia (Sydney)

About DBS Australia

DBS Bank Ltd opened its Australia Branch in Sydney in June 2015 and has been steadily growing since this time. DBS Bank Ltd, Australia Branch (DBS Australia) is regulated by Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC) and Australian Transaction Reports and Analysis Centre (AUSTRAC). The branch offers a wide range of products and services to wholesale clients through our frontline teams in Institutional Banking Group, Global Transaction Services, Global Financial Markets, and Project Finance. All the teams work closely together to ensure a quality service is enjoyed by our clients.

The frontline teams of DBS Australia are supported by dedicated Technology & Operations, Finance, Risk Management Group, Legal & Compliance, and Human Resources teams in Australia.

About Legal & Compliance

DBS Australia Legal & Compliance ensure that the bank's interests are protected by zealously guarding and enhancing its reputation and capital. We also work to maintain a good standing with all our regulators, customers, and business partners. Because we believe that at the heart of business banking is to uphold the values of trust and integrity for all our stakeholders.

Job Purpose

The role is expected to actively support the Senior Compliance Officers and Head of Legal & Compliance in managing compliance, AML, sanctions and financial crime risks across the various business and support units at the Australia Branch.

Key Accountabilities

• Provide sound and responsive advice and support on current and developments of key laws and regulations to support the businesses of the bank
• Assist with development, review and implementation of relevant policies and frameworks including gap and impact analysis.
• Assist to ensure appropriate procedures and guidance are developed to allow compliance and regulatory risk matters, including licensing matters, and deliverables to be managed effectively, on a daily basis.
• Review documentation and materials to ensure adherence to regulatory requirements, liaising and resolving any such issues
• Assist to maintain regulatory relationships and have good knowledge of regulators and the ability to engage with them where necessary

Job Duties & Responsibilities

• Provide sound and timely assistance and advice on regulatory and compliance requirements and matters with the objective of protecting the Branch against potential risks.
• Have good understanding of and regularly maintain close watch on AML/CTF, sanctions and financial crime and other regulations and issues.
• Keep abreast of regulatory developments, assess business impacts and develop, review and implement required framework, processes and tools to comply with new/revised regulatory requirements.
• Assist to develop and execute compliance programme, policies, standards and regulations.
• Assist to conduct compliance reviews and risk assessments of business areas and perform regular monitoring and testing to ensure compliance with regulatory and licensing requirements.
• Implement and attend to the required screening processes including transaction monitoring program that comply with the applicable requirements.
• Analyse data sets and transaction enquiries to identify AML/CTF trends and typologies and unusual activities
• Investigate potential unusual activities and transactions and prepare suspicious matter reports where required
• Regularly assess system performance and proactively identify system issues and make necessary adjustments to maintain optimal functionality
• Assist to implement tools to mitigate regulatory and compliance risks.
• Continued appreciation of the risk profile of the Branch and preventing/resolving regulatory breaches.
• Monitor business activities against the Branch's licences and authorisations and advise where any new product, service or activity may require additional licensing or authorisation and assist with the application for such licensing or authorisation as necessary.
• Work closely with business partners on audit issues.
• Undertake regulatory reporting and provide advisory on these requirements.
• Develop and provide training on compliance topics including AML/CTF, sanctions and financial crime.
• Build ongoing relationships with the business and raise compliance maturity and awareness.
• Act as a subject matter expert in local regulatory requirements and Group policies.

Requirements

• Minimum 5 - 7 years' working experience in the financial crime and/or Compliance function in wholesale banking
• Degree qualified in finance or related discipline with a demonstration of continued professional development in compliance, AML, sanctions and financial crime areas
• Good working knowledge of banking and financial services regulations and best practices including areas on AML/CTF, sanctions and financial crimes
• Good working wholesale banking product knowledge
• Sound ability to interpret and apply regulatory requirements and Group policies to wholesale banking products and services
• Ability to develop and execute frameworks and solutions for implementation
• Strong analytical mindset and attention to detail
• Demonstrated ability to apply sound judgement
• Strong interpersonal and cross-cultural communication skills
• Good stakeholder management skills, including senior and international stakeholders
• Strong time management skills with the ability to meet timelines and achieve objectives
• Ability to work independently and within a team
• Good understanding of risk expectations of regulators and the ability to engage with them where necessary

Apply Now

We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognises your achievements.