KYC/KYB Compliance Analyst (Private Banking Department)

Role Overview

This position sits in the Business Compliance Management team within the Private Banking Department. The core focus is to oversee the full lifecycle of third-party due diligence, approval, and periodic review for relationships used in private banking activities.

The role covers a wide range of external parties, including trading counterparties, brokers, issuers, fund houses, referrers, service providers, outsourced vendors, and other third parties that may create regulatory, legal, operational, financial crime, reputational, data, or technology exposure for the Bank.

Key Responsibilities

You will manage onboarding and review work for private banking counterparties and service relationships, making sure each case is properly assessed, documented, and escalated where needed.

• Assess onboarding submissions from the front office for new trading counterparties, brokers, issuers, fund houses, and referrers connected to private banking trading and business activity.
• Carry out due diligence on proposed service providers, including review of corporate details, licensing or regulatory standing, sanctions results, adverse media findings, reputation risk, and financial crime risk indicators.
• Evaluate the relationship’s purpose, scope of activities, products or services, jurisdictional exposure, regulatory licence position, ownership structure, financial statements, and data protection / security capabilities in line with Bank standards.
• Partner with Legal and other internal stakeholders on agreements and documentation such as service contracts, referral agreements, trading documents, reliance structures, and data protection provisions.
• Draft counterparty assessment papers, approval memoranda, due diligence summaries, risk assessments, and escalation materials for management review.
• Keep onboarding records accurate and current, including approvals, conditions outstanding, and periodic review obligations.
• Assist with scheduled and event-driven reviews of existing counterparties and service providers to confirm ongoing appropriateness and compliance with internal requirements.
• Support the team on account opening and periodic review activities for HNW/UHNW clients, as well as ongoing business relationship support and administrative reporting tasks.
• Review and refresh policies and procedures related to private banking business activities and external relationships.

Requirements

• Background in wealth management products and services, with experience in financial institution onboarding reviews and risk assessment.
• Working knowledge of MAS outsourcing requirements and guidelines relating to third-party service arrangements.
• Strong collaboration skills, with the ability to work independently while coordinating effectively with multiple stakeholders.
• Excellent attention to detail, sound analytical ability, and statistical skills.
• Professional qualifications such as ACAMS or a Diploma in Compliance are considered an advantage.

Additional Information

This role is based in Singapore and is a full-time, on-site position. No salary, bonus, or other benefit details were stated in the source.