CAO – Anti Financial Crime (AFC) Testing & QA – Associate

Position Overview

Details of the Division and Team :
We are a business with a vision: to be the leading client-centric global universal bank. This enables us to offer exceptional opportunities to agile minds: people with the insight, passion and ideas to positively embrace new challenges, adding real value to everything we do.
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Our environment enables every employee to realize their potential. We value your unique perspectives, invest in your potential and encourage your personal and professional growth.

Deutsche Bank AG (“DB” or “Bank”) has established the Controls Testing & Assurance department (“CT&A”) as an independent function, reporting to the Chief Administrative Officer (“CAO”). This group was formed from the legacy Testing and Quality Assurance group in Anti-Financial Crime (“AFC”) and the legacy Compliance Testing group in Compliance (“Compliance”). CT&A performs core regulatory prescribed processes for and on behalf of the Bank for AFC and Compliance. The establishment of CT&A as a separate and discrete function within the CAO Office raises its stature and profile at the Bank. CT&A is organizationally independent, not only, from the businesses and other infrastructure groups such as Risk, Operations, but from AFC and Compliance. The head of CT&A has a direct reporting line into the CAO, who is the Management Board Member of the Bank, who has responsibility for, among other things, Legal, AFC and Compliance. As CT&A performs regulatory-mandated processes for and on behalf of the AFC and Compliance functions, there are protocols (the “protocol”) that set out the overarching principles for and the interactions between CT&A on the one hand, and AFC and Compliance, respectively.

Further, the Regulation, Compliance and Anti-Financial Crime (AFC) protect the integrity and reputation of Deutsche Bank. They manage the Bank’s risks and help to avoid unintentional rule breaches and conflicts of interest. At the same time, they also advise on ethical conduct, governance issues and keep our organisation up-to-date on regulatory and political challenges.

AFC’s Mission is:
To be a trusted and respected independent control function that aims to protect the bank from financial crime risk.
To establish a proactive framework to prevent, detect, investigate and report bank-wide financial crime risk events
Deutsche Bank (DB) is committed to the highest standards of Anti-Money Laundering (AML), Embargo & Sanctions, Anti-Bribery and Corruption (ABC), Anti-Fraud and Investigations and Financial Crimes, collectively referred to as Anti-Financial Crime Compliance (AFC). The Management and all employees are required to adhere to these standards to protect DB and our reputation from those who intend to use our products and services for money laundering, bribery, corruption, fraud and/or terrorist financing purposes.

The AFC programme is formulated and directed by the Global Head of AFC. The Global Head of AML/KYC and Business Line AFC reports to the Global Head of AFC and is responsible for ensuring the bank’s AML & KYC framework meets regulatory expectations and these standards are aligned across DB’s businesses. This responsibility extends to branches, subsidiaries and other dependent companies within the respective region (DB Group).

The AFC Testing (AFCT) team, under the overall CT&A Function, is responsible for providing assurance testing on the design and operating effectiveness of the AFC and businesses’ control environment and adherence to applicable AFC, Sanctions & Embargoes and Fraud-related regulations and the Bank’s policies. AFCT develops and executes an annual, risk-based AFC testing plan that covers the risk categories owned by AFC, across all businesses in the region.

The AFC Testing Officer/ Reviewer role reports into the APAC AFC Testing Head or a senior member in the function. The role’s key responsibility is participating in the design, planning and implementation of a globally consistent 2Lo D Testing capability for assuring that the Bank’s controls are robust and correctly executed across the bank.

What we will offer you:
A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That’s why we are committed to providing an environment with your development and wellbeing at its center.


You can expect:

• Flexible benefits plan including virtual doctor consultation services
  
• Comprehensive leave benefits
  
• Gender Neutral Parental Leave
  
• Flexible working arrangements
  
• 21 days of annual paid leave, plus public holiday & Flexible Working Arrangement
  

Your key responsibilities:

• Play a key role in supporting the execution of the testing program for L1 and L2 controls, potentially including reviews at the non-hub offices; the opportunity for travel to other jurisdictions may be available
  
• Participate in the creation of testing plans for areas of identified potential AFC risk;
  
• Maintain the current Testing approach and methodology consistent and up-to-date;
  
• Undertake Tests / Reviews/Checks and assessments of the business records in line with the AFC Testing Plan while working in close coordination with the Global AFC Testing & QA team under the wider Controls Testing & Assurance (CT&A) function
  
• Prepare reports for submission to the Global AFC Testing teams in hub locations detailing the work performed, findings, conclusions and recommendations;
  
• Collaboration with various AFC and Business (1LOD) stakeholders to ensure the implementation of adequate and effective testing program for APAC that meet both Ba Fin and local regulatory requirements;
  
• Liaising regularly with relevant businesses, Business Line AFC Compliance and other colleagues to remain abreast of developments as it pertains to AFCT; ensuring stakeholders are aware of the likely impact on the controls testing program and implementing changes where necessary;
  
• Ensuring that all issues raised in AFCT have adequate remediation plans that are tracked and escalated promptly and appropriately;
  
• Provide Quality Assurance (QA) on transaction monitoring processes in the Asia Pacific.
  
• Compiling reports and trend analysis in preparation for discussion with key Stakeholders from AFC, Business and GTO functions, identifying key issues and areas for improvement;
  
• Sharing best practice and learnings with AFCT colleagues locally/regionally/globally;
  
• Staying abreast of all regulatory developments which may impact monitoring requirements
  
• Assisting in the development and maintenance of appropriate Management Information to inform Senior Management of pertinent matters, in line with global Deutsche Bank/Compliance/AFCT standards;
  
• Assist on projects and initiatives, as required
  

Your skills and experience:

• Minimum 4 years of experience from Financial Services in AFC / AFC Testing/Audit OR Risk Control with working experience in AFC Risk Management.
  
• Proven knowledge and application of relevant AFC, sanctions & Embargoes and Fraud-related regulations and legislations, and experience with regulators and managing regulatory examinations
  
• Proven investigative and analytical skills – enquiry, analysis, interviewing, testing; well versant with technology and applications that can be utilized in an AFC and Controls testing environment.
  
• Effective communication and presentation skills.
  
• Assertive, engaging and able to quickly build and maintain effective working relationships.
  
• Proven ability in report writing and issue drafting, including the ability to record and describe complex issues clearly and succinctly, in a way that are easily understandable by any recipient of the relevant reports;
  
• Attention to detail and ability to identify changes and impact of any changes to documents, systems and processes as against AFC risks, remediation required, etc.;
  
• Multi-cultural awareness and sensitivity; an experience of working within a multinational organization(s) will help.
  
  

" Role is required to be performed on-site at One Raffles Quay office. Relevant vaccination requirements may apply"

How we’ll support you:

• Flexible working to assist you balance your personal priorities
  
• Coaching and support from experts in your team
  
• A culture of continuous learning to aid progression
  
• A range of flexible benefits that you can tailor to suit your needs
  
• Training and development to help you excel in your career
  
  

About us and our teams:
Deutsche Bank is the leading German bank with strong European roots and a global network. Click click here to see what we do.


Deutsche Bank & Diversity

Our values define the working environment we strive to create – diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.

Visit Inside Deutsche Bank to discover more about the culture of Deutsche Bank including Diversity, Equity & Inclusion, Leadership, Learning, Future of Work and more besides.