About 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. 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.
Job Description
About the Department
UOB Private Bank
is dedicated to managing the wealth of high-net-worth individuals with investment assets of $5million and above. Keeping in mind our clients financial objectives, we provide tailored products and solutions that draw on the Group's comprehensive suite of personal, business and investment services.
The Private Bank Business Risk and Controls Management (PB BRCM) function sits with the PB Business as part of 1st line of defense, under the PB COO organization. PB BRCM actively drives and maintains oversight of the front to back activities and risk profile of the PB business, in close partnership with the business and supporting control functions. The PB BRCM function has responsibility over ensuring proper management and oversight across Non-financial risk taxonomies, including Investment Suitability, AML/KYC, Anti-fraud, Conduct, Cross border activities, Data Privacy, BCM etc. The BRCM function runs various risk governances, risk assessments, controls, reviews and advisory related activities over the PB business.
Job Responsibilities
As a member of Private Bank BRCM team, this role will play an important role in assisting the Head of Private Bank BRCM in driving Risk and Regulatory Competency capabilities within the 1st line of defense.
Role
Specifically, this role will drive the continuous build out of PB AML Risk Competency Centre and work closely or manage other members of the BRCM team, as well as Front office and business partners (e.g. Products / COO) on:
AML Assurance Review
- Design and execute AML assurance testing programs to ensure compliance with regulatory requirements and internal policies.
- Conduct risk-based assurance testing of AML controls against procedures and guidelines.
- Identify and report areas for enhancements or remediations.
- Lead special projects, thematic reviews or investigations through the use of analytics (where possible) around certain key risk taxonomies (e.g. Anti-Fraud)
- Deploy use of data analytics to pro-actively identify emerging risk hotspots or indicators
AML Advisory
- Expert advice on AML matters, including customer due diligence, transaction monitoring, and reporting.
- Conduct risk assessments and develop mitigating strategies/controls.
- Collaborate with business units to ensure compliance with AML regulations.
Regulatory and Governance Framework
- Manage and drive implementation of regulatory change portfolio, ensuring alignment with regulatory requirements and industry best practices.
- Provide guidance and work with key stakeholders for new regulatory assessments
- Manage key risk governance forums, audit and regulatory inspections
Collaboration and Stakeholder Management
- Work with COO teams, Compliance, and Risk teams to ensure effective AML controls and governance.
- Develop and maintain relationships with key stakeholders, including auditors, and industry partners.
Job Requirements
At least 5 years and above of experience in financial institution preferably with background in business risk, compliance, audit or consulting:
- Deep experience in AML and Anti-Fraud regulations and application of requirements within Private Bank frameworks, including assurance testing procedures
- Good track record in managing regulatory and risk change portfolios, governances and inspections
- Adept at power point and familiarity in working with data for risk management, particularly in data analytics / automation / visualization skillsets
- Ability to drive thematic reviews and assessments of risk topics or special cases (e.g. plan, execute, report)
- Possesses the necessary communication skills and ability to work effectively across the organization
- Understanding of the Private Bank business and processes would be an advantage
- Self-starter, motivated, independent, meticulous with analytical mindset to problem solve and drive topics and solutions
- Undergraduate degree in quantitative programme such as Statistics, Business Analytics, Computer Science or Post-graduate degree in analytics or risk management is preferred
Additional Requirements
Be a Part of the UOB Family
UOB is an equal opportunity employer. UOB does not discriminate on the basis of a candidate's age, race, gender, color, religion, sexual orientation, physical or mental disability, or other non-merit factors. All employment decisions at UOB are based on business needs, job requirements and qualifications. If you require any assistance or accommodations to be made for the recruitment process, please inform us when you submit your online application.
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