To ensure daily Business as Usual (BAU) operations covering processing and reconciliations are done accurately and timely.
To ensure all policies and procedures are drawn up and in line with MAS Guidelines and Notices and all processes of the company forms to regulatory and internal risk requirements.
To check customers with a list of Specially Designated Nationals (SDN) and Blocked Persons under MAS UN list and, OFAC sanctions and the Terrorism list under Suppression of Financing Act and keep the above lists updated monthly or whenever the regulator updates the lists.
To ensure customers and vendors-on-boarding using risk based approach to due diligence is carried out so that AML/CFT risks and outsourcing risks are kept to a minimal. Continual monitoring of customers and vendors are carried out and any suspicious transactions are reported to the Authority in a timely manner.