Our client is seeking an experienced Money Laundering Reporting Officer (MLRO) to oversee our compliance with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) regulations in Singapore.
The ideal candidate will have a strong background in investigation compliance, an in-depth understanding of AML/CFT laws and regulations in Singapore, and be approved by the Monetary Authority of Singapore (MAS) for a similar role. The MLRO will report to the Head of Legal and be part of our global compliance team.
Key Responsibilities:
- Oversee the Singapore AML/CFT compliance program, reviewing and evaluating compliance issues and risks within the organisation.
- Develop, implement, and monitor compliance policies, procedures, and standards of operations.
- Conduct regular risk assessments to identify potential areas of vulnerability and recommend risk mitigation strategies.
- Serve as the primary point of contact for regulatory bodies, including the MAS, for all AML reporting matters.
- Monitor transactions daily and adjust rule settings to effectively detect and prevent financial crimes and high-risk transactions.
- Responsible for STR filings to the Suspicious Transaction Reporting Office and the Commercial Affairs Department of the Singapore Police Force as appropriate and/or required.
- Keep abreast of the latest regulatory requirements to provide advice and support to top management on strategic activities, internal controls, and daily operations.
- Provide guidance and training to the transaction monitoring team, ensuring they are equipped to detect and report suspicious activities effectively.
- Promote a culture of compliance throughout the organisation and ensure that compliance considerations are integrated into business operations.
Qualifications:
- Bachelor's degree in Finance, Law, or a related field. A Master's degree or professional certifications (e.g., CAMS, CFE) is a plus.
- Minimum of 5 years of experience in a compliance role, with at least 2 years as an MLRO or in a similar position.
- Strong understanding of the regulatory landscape in Singapore and knowledge of AML/CFT regulations.
- Proven track record of managing AML/CFT compliance programs in a payment institution or financial services environment. Experience in cryptocurrencies is a plus.
- Excellent analytical, communication, and interpersonal skills.
- Ability to work independently and make sound decisions in a fast-paced environment.
