Director, Head of Compliance for APAC / Singapore Money Laundering Reporting Officer (MLRO)

Team Summary

Visa is looking for a Head of Compliance for Currencycloud within the APAC region who will also act as the Singapore MLRO for the regulated entity in Singapore. Currencycloud is part of the regulated entities within Visa’s payment business under Visa Direct / Money Movement Solutions (MMS). This role is part of the second-line Compliance function within Visa’s Group Compliance. 

What this role does at Visa:

Based in Singapore, this position is responsible for the overall AML/CFT and sanctions compliance of Currencycloud’s regulated business within APAC, including compliance with MAS regulations and global AML/CFT standards, while driving strategic oversight for regional AML programs. This position will also serve as the MLRO of Currencycloud Pte Ltd, a licensed Major Payments Institution (MPI) in Singapore and will be reporting to the Group MLRO based in Ireland. This role will lead a team with members across Singapore, Hong Kong and Australia. 

The core responsibilities for this role are as follows:

• Lead the APAC second line AML advisory team, including other regional MLROs, including provision of oversight on the regional AML/CFT framework and programs within APAC region and ensure that the relevant controls are duly incorporated in the framework, policies and programs to meet local regulatory requirements, horizon scanning etc.
• Serve as Singapore MLRO and act as the primary point of contact for AML/CFT and sanctions matters for the Singapore regulated entity, including ongoing maintenance of a robust AML/CFT framework which is in line with MAS Notice PSN01 and other relevant Notices, Guidelines etc. and ensuring that sufficient reviews / QAs are in place that commensurate with the nature, size and complexity of the regulated activities within the business and the ML/TF risks arising from those businesses 
• Coordinate and provide responses to AML/CFT and sanctions-related regulatory queries (RFI). 
• Provide support to the AP Regulatory Team in regulatory inspections and audits on AML/CFT and sanctions matters. 
• Provide decisions over filing of suspicious transactions (STR) and exercise oversight over the STR process, including maintenance of proper records on all investigations and reviews based on trigger events, TM alerts or escalation channels as well as provision of additional information where required by the relevant law enforcement agencies (e.g., CAD, MAS).
• Work closely with first-line Compliance function such as the New Business Onboarding (NBO) team who is responsible for Customer Due Diligence, Enhanced Due Diligence, Periodic Reviews etc. on clients, partners, third party service providers etc.
• Ensure existing onboarding / KYC framework and ongoing screening controls are in place to adhere with global and local sanctions requirements.
• Ensure Group Transaction Monitoring (TM) logics are appropriate and in line with regional regulatory requirements and provide guidance to the TM team over reviews / alerts where required.
• Work closely with relevant functions to address communications and request for information from clients and banking partners in relation to AML/CFT matters. 
• Develop AML/CFT and sanctions related training materials and conduct training to the business stakeholders on a regular basis. Maintain all training records and attendance where required. 
• Provide accurate and timely advice to the Business over AML/CTF and regulatory requirements, ensuring that risks are being adequately managed while balancing business objectives. 
• Drive and lead regional AML risk assessments and ensure alignment with global compliance standards.
• Responsible for comprehensive reporting including local dashboard and metrics reporting
• Regulatory Change Management: Keep abreast of changes in AML/CFT regulations and ensure timely updates to policies and procedures.
• Participate actively in Regional and Global team discussions, including sharing of local practices, updating on regulatory developments etc

 This is a hybrid position. Expectation of days in the office will be confirmed by your Hiring Manager. 

Basic Qualifications:

• 10 or more years of work experience with a Bachelor’s Degree or at least 8 years of work experience with an Advanced Degree (e.g. Masters/ MBA/JD/MD) or at least 3 years of work experience with a PhD

Preferred Qualifications:

• 12 or more years of work experience with a Bachelor’s Degree or 8-10 years of experience with an Advanced Degree (e.g. Masters, MBA, JD, MD) or 6+ years of work experience with a PhD
• To apply for this role, we are looking for someone who has bachelor’s degree or higher education qualification and at least 10 years of working experience within AML/CFT compliance functions in the financial / payments industry. Experience as MLRO and professional AML accreditation is required. Legal backgrounds are not mandatory but welcome. 
• Good knowledge of the AML/CFT legislations and regulatory requirements in Singapore and APAC region. 
• Proven leadership experience managing multi-jurisdictional compliance teams.
• Experienced in financial crime risk assessments, AML/CFT investigations and Sanctions review (preferred).
• Experience in advising on and overseeing the implementation and use of technology solutions for transaction monitoring, sanctions screening, and other compliance activities.
• Experienced in policies and procedures implementation including drafting them. 
• Ability to provide training on key AML/CFT and sanctions to Business stakeholders.  
• Comfortable working across regions and multi time zones – although the role will be autonomous within region, strong collaboration with Currencycloud’s Fincrime Compliance and Regulatory group functions in other regions such as UK and US will be required from time-to-time.  
• Excellent written and verbal English and Mandarin communication skills.  
• Specific certifications like CAMS (Certified Anti-Money Laundering Specialist) or ICA (International Compliance Association) qualifications are required.

Visa is an EEO Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. Visa will also consider for employment qualified applicants with criminal histories in a manner consistent with EEOC guidelines and applicable local law.