Source of Wealth Specialist (Private Banking) - Greater China Market

Location: Singapore

Type: Full-time

Job Summary

This position is part of the Anti-Money Laundering Risk Management (AML Risk) function, within the Account Management Team (AMT) under Private Wealth Management (PWM).

Responsibilities

• Review existing account profiles to identify gaps in SOW information and corroboration
• Analyse collected information and perform reasonableness and plausibility checks to build comprehensive SOW write-ups, enhancing existing write-ups or drafting from scratch
• Work with the Sales team to enhance account profiles and SOW corroboration, providing guidance and desktop research for benchmark analysis or profile updates
• Identify high AML risk factors and red flags, and engage with Sales and Compliance to resolve issues as needed
• Prepare SOW/AML risk assessment summaries, and present material findings or risk concerns to AML Risk Supervisors for further action
• Ensure SOW/SOF data, approval records and supporting documentation are properly retained
• Draft SOW assessments and review peer submissions, depending on team caseloads

Eligibility Requirements

• 5+ years of relevant experience in source of wealth reviews in private banking or for high-net-worth clients, at top tier banks, financial institutions or risk advisory firms
• Fluent in spoken and written Mandarin and English. Cantonese is an advantage.
• Proven ability to write detailed SOW narratives from scratch, consolidating Chinese and English information into a precise English summary
• Strong research skills, with the judgement to rely on primary sources
• Strong knowledge of AML/SOW review for various entity types (personal holding companies, trusts, SPVs, limited partnerships, funds, foundations)
• Strong understanding of AML/CFT regulations, including MAS and HKMA requirements
• Confident and articulate, able to explain requirements clearly to Sales stakeholders and hold a position when challenged