Assistant VP/Manager, Complaints Investigation Unit Officer, Group Compliance
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. In Asia, we operate through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia and Thailand, as well as branches and offices.
Our history spans more than 80 years. Over this time, we have been guided by our values — Honorable, Enterprising, United and Committed. This means we always strive to do what is right, build for the future, work as one team and pursue long-term success. It is how we work, consistently, be it towards the company, our colleagues or our customers.About the Department
Group Compliance is a strategic partner and trusted business enabler to the Board and Senior Management to ensure that the Bank continuously fulfils its regulatory obligations in today’s tight and dynamic regulatory landscape.
We work closely with our internal stakeholders to identify and assess underlying regulatory risks; develop practical solutions that integrate regulations into operational requirements; and actively shape and promote stronger compliance culture and literacy in the Bank.
The competitive business environment and constant product innovation coupled with the ever evolving regulatory landscape propel the compliance function to go beyond regulatory advisory to focus on active risk identification and management, instilling a robust regulatory compliance control framework and active participation in the provision of sound and sustainable solutions to meet businesses’ emerging needs.Job Responsibilities
Key Job Duties and Responsibilities
- Investigate complaints in relation to the Financial Advisers Act and its subsidiary legislation through the conduct of interviews with the relevant stakeholders, review of sales document against the regulatory requirements as well as Bank’s policies and guidelines
- Assess the investigation findings in relation to the investment sales process including the following:
- Determine if there is any misconduct committed by the sales representatives; and
- Assess the Business Division’s compliance with regulatory requirements, especially with the Financial Advisers Act
- Report investigation findings, ensuring objective analysis and recommendation
- Follow up on remedial action to be taken
- Assist in the management of the compliance requirements for the Business / Support Sectors under the purview of the division
Other Job Duties and Responsibilities
- Analysis and reporting of investigation data and trends by developing and executing data analysis to determine significant trends or key risk areas
- Provide management reporting of breaches by Business / Support Sectors to the Group Head of Compliance
- Assist and facilitate the training for the staff of Business / Support Sectors on regulatory requirements, including:
- preparing training materials and quizzes
- reviewing/revising existing training materials and quizzes; and
- delivering compliance training on key regulatory risk areas to the staff of Business / Support Sectors
- Handle or participate in ad-hoc projects that require compliance support. This includes participating in relevant MAS and ABS Project Committee meetings and liaising with regulators, and internal and external auditors, as and when necessary
- Assist Section Head in matters related to the Regulators and Auditors (Internal and External)
- A Degree or relevant qualification from a recognized institution with minimally 3 years of working experience in the banking industry, preferably in retail banking, wealth management or insurance.
- Be familiar with the Financial Advisers Act and its related notices / subsidiary legislation. It will be advantageous to have knowledge on one or more of the following legislations – Securities & Futures Act, Banking Act and Insurance Act.
- Prior experience in banking or insurance compliance, legal advisory, operational risk management within business units or internal / external audit will have an advantage.
- Strong analytical skills, meticulous, proactive, able to think creatively and work independently with excellent verbal and report-writing skills to effectively interact with colleagues and external parties of all levels.
- A strong team player and proficient in Microsoft Office applications
In line with the new direction, we are looking for strategic and forward-looking individuals with sound understanding of the banking business operations and underlying risk exposure to join our Group Compliance - Retail Division. Individuals who possess good understanding of business operations, controls and/or risk management in areas related to Private Banking, Retail Banking, or Business Banking are welcome to apply.
United Overseas Bank Ltd (UOB)