CDD Analyst - Wealth Management (1 year contract)

Responsibilities

• SoW Remediation: Enhancement of source of wealth ("SoW") corroboration and documentation for Periodic Reviews in line with MAS AML/CFT Notices and ACIP paper - Best Practices on Source of Wealth Due Diligence.
• Risk-Based Assessment: Apply a risk-based approach when assessing client profiles and Source of Wealth, determining the scope and depth of review required based on factors such as client risk rating, complexity, transaction activity, and observed changes since the last review.
• Transaction Analysis: Review account transactions to access consistency with the client's stated profile and Source of Wealth, identify unusual or unexpected patterns, and assess whether further review, clarification, or escalation is required.
• Document Validity and Ongoing Monitoring: Ensure client documentation remains valid and fit for purpose, and that updates are initiated promptly to reflect material changes in client circumstances.
• Reporting and Governance: Provide input into CDD dashboards, management reports, and governance updates to support Senior Management oversight of Periodic Review outcomes.
• Main Tasks
• Conduct end-to-end Periodic Reviews (including uplift of SoW) for Wealth Management clients, applying arisk-based approach to determine the scope, depth, and intensity of review
• Assess client profiles, Source of Wealth, and transaction activity in a manner proportionate to the client's risk rating and complexity, to determine whether the overall risk profile remains appropriate
• Identify material changes since the last review and assess whether enhanced review, additional corroboration, or escalation is required, based on risk considerations.
• Support onboarding reviews where required.
• Exercise sound professional judgement when assessing complex client profiles or documentation gaps
• Evaluate the sufficiency of alternative corroboration where standard documents are unavailable
• Clearly document conclu

Additional Information

The CDD BusinessAdvisory and Support (CBAS) 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) units to 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 initiatetrigger 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 The primary focus of this role is to conduct Periodic Reviews for Wealth Management clients, with the focus on assessment, corroboration and uplifting the Source of Wealth "SoW". The role requires the exercise of sound professional judgement in evaluating complex client profiles, identifying material risk changes, and determining whether enhanced review or additional corroboration is required on a risk-based approach. The job holder is expected to ensure conclusions are well-reasoned, clearly documented, and aligned with regulatory expectations and the Branch's internal policies and procedures. Job holder may be required to provide support for onboarding reviews where necessary.

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