Senior Associate/AVP - Compliance

Job Purpose

The incumbent in this role will be responsible for performing due diligence when on-boarding and performing periodic reviews on the Wealth Clients of Lighthouse Canton in a timely and disciplined manner.

The incumbent will also assist the Chief Compliance Officer (CCO) in:

• Performing transaction monitoring and funds flow analysis of the clients.
• Performing periodic reviews of the firm’s vendors and service providers.
• Regulatory Compliance and AML/CFT reporting.
• Conducing training, providing advice and assurance to various Business Functions with regards to Compliance matters.

Individual Contributor or People Manager

• Individual Contributor.

Duties and Responsibilities

(1) Compliance review for client on-boarding and periodic reviews

The incumbent performs the KYC and due diligence on the prospect that is presented to him/her for review. This would require understanding the prospect’s background, performing screenings, determining source of wealth and source of funds, risk assessment, determining the Accredited Investor (AI) status, and subsequently advising the Compliance Head if the on-boarding can be taken up.

The incumbent also performs the periodic review of the on-boarded clients which entails reviewing the client’s status, screenings, transaction monitoring, funds flow analysis and performing the risk assessment.

The incumbent would use LCPL’s technology platform to perform the compliance reviews and manage all client records.

(2) Compliance review of firm’s vendors and service providers

The incumbent will perform the compliance review of the vendors and service providers who intend to (or are currently) working with LCPL for various services.

(3) Regulatory Compliance, Policies Implementation and Reporting

The incumbent will assist the Chief Compliance Officer and his team in timely and accurate reporting to Regulators, implementing strategic plans alongside changing regulatory environment and ensuring the adequacy and efficiency of all Compliance controls / monitoring plans.

• Assist and lead in development, maintenance, and implementation of all applicable Compliance requirements for Group-wide activities (statutory and regulatory), and to map such controls to appropriate regulatory notices and guidelines.
• Formulate and deliver activities through Compliance Monitoring Plans to ensure alignment and Compliance with the Firm’s regulatory obligations.
• Review and provide inputs on Client On-boarding, KYC/CDD process, 0utsourcing Arrangements, Business Partners from an end-to-end perspective, and on an on-going basis.
• Continuous monitoring of external sources (e.g., Regulatory updates, seminars, and workshops) to keep abreast of current and proposed developments and changes, and to update Senior Management and key stakeholders, as appropriate.
• Assist in developing and maintaining Risk Management and Compliance Manuals, as well as Data Protection and Confidentiality requirements.
• Review of existing controls and processes to identify gaps alongside changes in regulatory environment, and to propose recommended enhancements/implementation as necessary.

(4) Project Management, Trainings, and Ad-hoc Assignments

• Frame and assist in Compliance, AML/CFT, and Data Protection training on an on-going basis to raise awareness and culture within the Firm.
• Represent the Firm and/or Risk and Compliance function in projects or events as directed by Head, Risk and Compliance and/or Senior Management.
• Collaborate with key stakeholders, business functions and auditors to drive strong Compliance culture, remediate and mitigate Risk and Compliance issues.
• Assist and lead in any ad-hoc assignments or projects as directed by Head, Risk and Compliance and/or Senior Management.

Qualifications and Skills

Knowledge

• Well versed in Regulatory Environment and Laws (e.g., Securities and Futures Act, MAS guidelines, DFSA rules, etc).
• Experience in Regulatory Compliance and Implementation, AML/CFT, Risk Management, and/or Audit in financial services industry.
• Experience in performing KYC and due diligence for client on-boardings, vendor/service provider engagements in Financial Services Industry.
• Experience in process review and quality improvements.

Skills

• Proactive, meticulous, and attention to details.
• Ability to work independently.
• Good attitude with strong organizational and time management skills.
• Passionate, reliable and with high standards of integrity.
• Strong analytical and problem-solving skills.
• Team oriented, and ability to lead projects and assignments.
• Strong communication and facilitation skills.
• Ability to work/deal with regulators, internal and external stakeholders.
• Process and result orientated, and ability to stay firm on Risk and Compliance decisions.