Manager - QA

My client is a Middle Eastern bank looking to grow their KYC team.

This role will primarily be responsible for

1. Performs checks, oversee and manage the KYC process for both corporate and private banking clients, ensuring adherence to all regulatory requirements and internal policies.
2. Conduct Level 2 checks on KYC documentation and customer profiles, verifying the accuracy and completeness of information provided. Ensure that all L2 reviews are completed within the stipulated timelines.
3. Evaluate customer risk profiles and enhance risk mitigation strategies based on findings from KYC reviews, including transaction monitoring and ongoing customer due diligence.
4. Contribute to the development and enhancement of KYC procedures, and guidelines and internal forms to align with regulatory changes and industry best practices
5. Provide training and guidance to junior KYC analysts and other relevant staff on KYC processes, regulatory requirements, and emerging threats in the financial sector.
6. Liaise with internal stakeholders, including relationship managers, compliance teams, and senior management, to facilitate efficient KYC processes and address any potential issues.
7. Analyze KYC data and prepare reports for senior management and regulatory bodies, highlighting trends, risks, and areas for improvement.
8. Identify opportunities for process enhancements and automation within the KYC framework to improve efficiency and effectiveness.
9. Support internal and external audits by providing necessary documentation and explanations regarding KYC processes and findings.
10. Maintenance of static customer data once the access is available for Singapore branch;
11. Support in preparing the team any regulatory reports (not limited to) FATCA /CRS
12. Perform any other duties given by the Management on an ad-hoc and project basis.

Requirements

• Ensure performance of KYC to the standards expected by the Monetary Authority of Singapore and in accordance with the bank's AML and KYC Policies and Procedures. This includes reviewing and checking for completeness of CDD information (including SOW/SOF) and supporting documentations for new and existing customers (periodic review) and performing risk assessments in line with the bank's AML and KYC Policies and Procedures.
• Oversee the execution of client due diligence processes, ensuring thorough assessments of client risk profiles. Ensure that appropriate enhanced due diligence is performed on high-risk clients, including politically exposed persons (PEPs) and clients from high-risk jurisdictions.
• Lead the identification and assessment of potential KYC-related risks associated with new and existing clients. Implement appropriate risk mitigation strategies and escalate issues as necessary to senior management.
• Act as the primary point of contact for internal stakeholders regarding KYC compliance issues, fostering collaboration between departments. Work closely with Compliance, Operations, and Relationship Management teams to ensure a holistic approach to client risk management.
• Ensure the accuracy and completeness of KYC records and documentation across the client base. - Prepare and present regular reports on KYC metrics, trends, and compliance status to senior management and relevant committees.
• Develop and deliver KYC training programs for staff across the organization, promoting awareness of regulatory requirements and internal policies. Stay informed about industry trends and best practices in KYC and compliance to enhance training initiatives.
• Participate in internal and external audits related to KYC processes and ensure timely remediation of any identified issues. Conduct regular quality assurance reviews of KYC files to ensure adherence to established standards and procedures.
• Identify opportunities for process improvement within the KYC function and lead initiatives to enhance operational efficiency and effectiveness.

Perform any other ad-hoc tasks and project work as assigned.