United Overseas Bank Ltd (UOB)

First / Vice President, Group Compliance - AML/CFT Advisory

United Overseas Bank Ltd (UOB) | Date Posted: 11-Jul-2018
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Qualification:
'N' Levels / 'O' Levels, ITE/ NITEC/ Higher NITEC, 'A' Levels, Diploma, Bachelor's / Honours, Masters / PhD

Job Description

Functional area: Group Compliance
Employment type: Full-time
Job Type: Permanent

Group Compliance is a strategic partner and trusted business enabler to the Board and Senior Management to ensure that the Bank continuously fulfils its AML/CFT 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 the Bank’s emerging needs.
 
In line with this new direction, we are looking for strategic and forward-looking individuals with sound understanding of the banking business operations to join our dynamic team in Group Compliance AML/CFT Division through:
  • Providing  independent and objective perspective of AML/CFT risk through a robust risk identification, assessment and management process
  • Facilitating internal stakeholders’ design of AML/CFT control processes and solutions that cut across business and geographies through practical applicability of regulatory obligations
  • Monitoring and performing regular assessment of the state of business compliance risks, and enforcing effective remediation through root-cause analysis to address underlying issues
  • Explore development of data analytics to enable proactive monitoring and management of AML/CFT risk, and enhance the effectiveness and efficiency of compliance review work
  • Establishing tailored AML/CFT training programs to foster compliance literacy and promote the Bank's compliance culture and ethical conduct
  • Advising on and enabling the prevention of financial crimes such as money laundering and financing of terrorism
  • Advising the Bank’s leadership on emerging AML/CFT regulations and regulatory issues surrounding strategic initiatives
  • Building good rapport and trust with the regulators through open and transparent communications
Requirements
  • Strong understanding of Prevention of Money Laundering and Countering the Financing of Terrorism Act and other relevant regulations.
  • Possess market acumen to adjust and adapt to the changing regulatory landscape.
  • At least 5 – 7 years of relevant work experience, preferably in compliance, audit or operational risk management.
  • Good writing and communication skills with ability to develop a strong working partnership with external and internal stakeholders.
  • Team player and demonstrated ability to manage multiple tasks and work independently.
  • High personal standard of ethics, integrity and commitment to fulfilling the objectives of the position.
Company Overview
United Overseas Bank Ltd (UOB)
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. Today, UOB is rated among the world’s top banks: ‘Aa1’ by Moody’s and ‘AA-’ by Standard & Poor’s and Fitch Ratings. Generations of UOB employees for the past 80 years have carried through the entrepreneurial spirit, focus on long-term value creation and an unwavering commitment to do what is right for our customers and our colleagues. At UOB, we believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and grow their businesses,