Compliance Officer (Digital Assets Industry)

Welcome to Apply: Singaporeans, PR Position Type: Permanent, Full Time

Salary Range: SGD 5,000 - 7,000 monthly

Work experience: 3 years & above

Educational: Diploma or above

Language: English, Mandarin

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Job Responsibilities

1. Regulatory Compliance

• Ensure adherence to MAS regulations governing remittance services.

• Stay updated on regulatory changes and revise policies, procedures, and controls accordingly.

• Prepare and submit mandatory reports to MAS, such as suspicious transaction reports (STRs) and periodic compliance filings.

2. Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)

• Develop and maintain a robust AML/CFT compliance program aligned with MAS standards and global best practices.

• Perform customer due diligence (CDD), enhanced due diligence (EDD), and periodic KYC reviews for high-risk customers.

• Investigate unusual or suspicious transactions and escalate them to the relevant authorities when necessary.

3. Risk Management

• Conduct risk assessments for customers, agents, and transactions to identify potential AML/CFT or fraud risks.

• Implement controls to mitigate compliance risks, including transaction monitoring systems and real-time screening tools.

• Ensure accurate and timely record-keeping of compliance activities as required by MAS.

4. Policies, Procedures, and Training

• Develop and regularly update compliance policies and procedures specific to the remittance business.

• Provide training to employees and agents on compliance requirements, AML/CFT regulations, and ethical practices.

• Conduct internal audits to assess compliance with policies and address any identified gaps.

5. Transaction Monitoring and Reporting

• Monitor transactions to identify patterns of unusual activity or behavior.

• Submit STRs to the Suspicious Transaction Reporting Office (STRO) when needed.

• Maintain transaction records exceeding MAS and FATF thresholds.

6. Licensing and Onboarding

• Support applications, renewals, and modifications of remittance-related licenses in accordance with MAS requirements.

• Ensure compliance standards are met during the onboarding process for agents and sub-agents.

7. Stakeholder Engagement

• Act as the primary liaison with regulatory authorities, including MAS and STRO, and law enforcement agencies when required.

• Address compliance-related inquiries from internal and external stakeholders.

Requirements

• Qualifications: Bachelor’s degree in Law, Finance, Accounting, or a related field.

• Experience: Minimum of 3 years in compliance, AML/CFT, or a related field, preferably within the remittance or payments industry.

• Knowledge: Comprehensive understanding of MAS regulations, the Payment Services Act, FATF standards, and AML/CFT practices.

• Strong analytical and investigative capabilities.

• Excellent communication and interpersonal skills.

• Proficiency in compliance tools and transaction monitoring systems.

• High level of integrity and attention to detail.

• Proactive problem-solving mindset.