ROLE PURPOSE
The DNFBP Section Analyst is a position within the DNFBP division, responsible to effectively discharge mandated role as AML/CFT/CPF and TFS supervisory authority for DNFBPs & Other FIs through review and implementation of policies to mitigate risks identified in DNFBP Sector, conduct of risk-based AML/CFT/CPF and TFS on-site and off-site supervision on sectors and RIs identified as higher risk and planning and conduct of capacity building initiatives for RIs and the relevant authorities to strengthen culture of compliance among DNFBPs and Other FIsStriv
PRINCIPAL ACCOUNTABILITIE
- SAML/CFT/CPF and TFS on-site and off-site supervision of DNFBPs and other FIs: Actively participate as a team member in the planning and conduct of impactful AML/CFT/CPF and TFS onsite and off-site supervision of DNFBPs and other FIs, with a focus on RIs, channels or services identified as higher risk within assigned sectors. Assist in identifying strategic partners who have the capacity to participate in joint AML/CFT/CPF and TFS supervisory activities; and participate in efforts to enhance supervisory capabilities of these partners to cultivate compliance culture within the RIs
- Application of supervisory technology (Suptech) for regulatory oversight: Contribute to the development and maintenance of innovative technological solutions (systems/database/reporting templates) and use of data analytics to identify, profile and monitor large and/or higher risk RIs/firms in assigned sectors, and assist in managing regulatory compliance. In addition, keep abreast with technological advancements and global best practices in relation to risk-based AML/CFT/CPF and TFS supervision of DNFBPs, and contribute to efforts to continually enhance overall process, framework and methods, in line with the risks identified to increase the efficiency and effectiveness of supervisory activities
- Review and development of AML/CFT/CPF and TFS policies: Assist in the review and development of AML/CFT/CPF and TFS policies for assigned sectors to ensure the reporting obligations adhere to international standards and are commensurate with the risks identified. Conduct regular environment scanning to promptly identify and escalate any emerging ML/TF/PF risks which may require appropriate policy or supervisory responses. Participate in on-going efforts to develop FAQs and guidance notes for RIs in assigned sectors, in collaboration with the relevant authorities to ensure the regulatory framework remains relevant
- Capacity building: In collaboration with the relevant authorities, assist in the development and implementation of appropriate strategies for capacity building of RIs/firms to enhance compliance to AML/CFT/CPF and TFS reporting obligations, and towards enhancing AML/CFT/CPF and TFS supervisory capabilities of relevant authorities in assigned sectors to ensure continuity and nurture self-driven compliance by the RI
- Support departmental functions: Provide technical assistance and support to other Sections on FATF/APG/Egmont related matters and/or participate in conduct of special investigations / raids, as instructed by Manager / Deputy Director
- Self-development: Be proactive in seeking opportunities for continuous learning and self-development to ensure the knowledge remains relevant to discharge the mandated role
QUALIFICATIONS
Academic Qualifications: Bachelor's degree in banking and finance, accounting, legal, economics, forensic accounting, risk management, data analytics or related discipline.
Experience: 2 years of experience, preferably in surveillance/ intelligence, supervision, regulation, audit, investigation/ enforcement, compliance, risk management, data analytics and/or legal.
