Client Onboarding & Due Diligence Approver

at  New Tone Consulting Pte Ltd

This position within the Client Onboarding and Lifecycle Management team entails supporting the bank’s processes for client onboarding, ongoing AML/CFT monitoring, and reviews. The successful candidate will be responsible for maintaining high standards in line with the bank’s AML/CFT procedures and may also handle other compliance and risk management tasks or projects as needed.

REQUIREMENTS:

• 3-5 years of AML/KYC experience in private banking, including accounts approval.
• Familiarity with risks and suspicious activities related to private banking clients.
• Knowledge of regulations such as MAS, HKMA, FATF, and Wolfsberg.
• Experience in client onboarding approval in HK and/or SG within the private banking industry.
• Strong understanding of AML/CFT frameworks and regulatory environments.
• Proficiency in MS Office tools.

1) Client Onboarding and Due Diligence

• Conduct thorough and timely reviews of new client onboarding requests, ensuring quality and adherence to AML/CFT procedures.
• Provide guidance to front office and team members on client onboarding, including addressing KYC information deficiencies.
• Independently review KYC/AML/Tax risks, verify clients’ Source of Wealth and Source of Funds, and approve new business relationships.
• Collaborate with key stakeholders like Relationship Managers and Compliance to facilitate smooth onboarding.
• Train team members and front office colleagues on KYC AML matters.
• Assist with client onboarding tasks and post-onboarding activities as delegated.
• Handle queries and clarifications from audits and implement onboarding controls and enhancements as needed.

2) General

• Support the Client Onboarding and Lifecycle Management team on assigned tasks and projects.

• Work with colleagues on remediation projects and prepare management information reports.Organize meetings and training sessions to align front office practices with procedures.