KYC Specialist - Policy & Process

Business Function: As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards, and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business – they were made just right for you.

Job Purpose: This role is crucial for maintaining and enhancing the effectiveness of KYC (Know Your Customer) policies and processes. You will use data analysis to identify risks, improve efficiency, and ensure compliance with regulations.

Responsibilities:

• Develop and Maintain KYC Policies and Procedures: Research, draft, review, and update KYC policies and procedures, ensuring accuracy, clarity, and accessibility. Manage the central policy documentation.
• Identify and Mitigate KYC Risks: Use data analysis to identify trends and patterns indicating potential KYC risks. Develop and implement risk mitigation strategies, recommending policy and process improvements.
• Optimize KYC Processes: Improve KYC processes using data analysis and process mapping. Document and implement enhancements to boost efficiency and reduce risk.
• Recommend Policy and Process Changes: Propose specific revisions to KYC policies and procedures to improve effectiveness and address identified risks.
• Monitor KYC Compliance: Track and report on KYC compliance using data analysis. Create reports highlighting areas for improvement and develop KPIs for compliance and risk mitigation.
• Support Audits and Inspections: Prepare for and support internal and external audits and inspections, including data gathering, responding to inquiries, and tracking remediation efforts.
• Stay Current on Regulations: Conduct research to remain informed on current KYC regulations and best practices.
• Collaborate with Stakeholders: Work with various departments to ensure alignment and implementation of KYC policies and procedures.

Requirements:

• Bachelor's Degree and minimum 6 years of relevant experience in a banking institution, preferably in private banking.
• Strong analytical skills and proficiency in data analysis tools (e.g., Excel, SQL, Python, data visualization software).
• Excellent organizational and communication skills; meticulous attention to detail.
• Proficiency in Microsoft Office Suite.
• Understanding of risk management and KYC principles.
• Ability to work independently and collaboratively.
• Proactive problem-solving skills.