Head, CFS AML Risk Management (CARM)

15 Dec 2018
19 Dec 2018
Contract type
Full time
CARM is an operational risk management team under OCBC Consumer Financial Services (CFS) Singapore business unit. The team actively works in partnership with CFS Operational Risk Management & Compliance (ORMC) and Regulatory & Compliance Unit (RCU) to manage CFS AML Risk in a highly demanding and fast paced environment, with opportunities and exposure in the area of proactive AML risk management for aspiring AML expertise individuals.

The Head of CARM will drive and uphold CARM strategic objectives of:
  • Effective ongoing reviews of escalated and periodic AML/CFT triggers within 1 st LoD,
  • Efficient & effective risk mitigating actions and controls
  • Provide oversight on performance of key risk and control indicators to CFS senior management team
As part of CFS, the Head of CARM will be a key AML/CFT expertise and subject matter expertise to :
  • Provide MIS reporting and medium to longer term views and assessment on AML risk to CFS management team, including effective initiatives and action plans that meet both the requirements of AML/CFT compliance.
  • Provide continuous support to internal CFS stakeholders in achieving business growth as well as top in class customer banking experiences.
  • Provide advice and guidance on handling ML/ TF risk matters, and on the prevention, detection and reporting of suspicious activity.
  • Keep abreast of all AML developments and collaborate with the relevant stakeholders to adopt industry best practices.
  • Lead/ participate actively in AML initiatives/projects (across the Bank and within CFS).
  • Lead CARM to ensure efficient and timely clearance of reviews/cases while complying with regulatory standards and OCBC policies with the following teams:
    • Investigation and Exit Management (IEM)
    • CDD Reviews (CDD)
    • Recovery & Remediation (R&)
    • Control Monitoring & Training (CMT)

The incumbent will lead a team of AML expertise within CFS in operational risk management covering effective reviews, approvals, transformation initiatives as well as training, developing and guiding the team on:
  • Reviewing and analysing customer profile in the relevant AML/CFT/Sanctions scope of work,
  • Provide overall Sanctions, ML/TF risk assessment on customers profile, identifying key risk areas for attention,
  • Early identification, effective and timely management of issues and internal controls.
  • Recommend and provide risk mitigating plan for senior management consideration.
  • Implement effective risk mitigating actions/plans for CFS as part of the team's risk management activities.
  • Policy review, gap analysis and implementation.
  • Driving effective and efficient AML risk management transformation initiatives by leveraging on data analytics and technology.
  • Building a team of highly effective and motivated AML expertise individuals.
  • Maintaining strong and effective engagement and building trust with internal and external stakeholders in areas of AML/CFT/Sanctions scope of work, including compliance testing, audit reviews and supervisory visits.

Key Relationships :
  1. All CFS Departments
  2. Group Legal & Regulatory Compliance
  3. Group Operations & Technology
  4. Group Audit

  1. MAS
  2. ABS and Member Banks
  3. External Auditors

Reports to : Head, GCFS Risk & Prevention



Degree with minimum 10 years of broad based AML/ CFT experience in overseeing AML monitoring and review activities (i.e. transaction monitoring, screening & sanctions, KYC). Strong knowledge of consumer banking products, services and processes as well as regulations governing the consumer banking business and products.

Individuals with at least 5 years of demonstrated team management experiences.

Technical skills:
  • Strong technical knowledge and understanding of regulatory requirements relating to sanctions, money laundering and terrorism financing.
  • Knowledge of regulations governing the consumer banking business, and consumer banking products
  • Strong operational process management skills.
  • Individuals with AML compliance experiences will be highly considered.
  • Professional certification in AML / CFT Compliance (e.g. ICA Diploma in AML, ACAMS) strongly preferred

Personal Traits:
  • Passionate in developing a career in risk management and compliance.
  • Good team player and demonstrated strong and effective leadership, interpersonal and training skills.
  • Demonstrated strong people management skills and good stakeholder engagement.
  • Strong process improvement orientation and agile learner. High degree of comfort in exploring automation for process enhancements.
  • Ability to manage a high volume processing shop while meeting stringent SLA to maintain strict turnaround times.
  • Independent self-starter, committed and focused individuals
  • Strong analytical abilities, and business & risk assessment acumen.
  • Positive and progressive behavioural traits
  • Good written and oral communication skills and ability to interact effectively with people at different levels
  • Forward looking and embraces technology to drive efficient and effective AML risk management.


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