Senior VP, Group Retail Anti-Financial Crimes (AFC) Lead

About UOB

United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. UOB's purpose is to build the future of ASEAN. Our purpose guides The UOB Way – that defines our unique culture and belief system, anchored on our values of being Honourable, Enterprising, United and Committed, and our people philosophy of Care, Growth and Trust. 

About the department

UOB Innovation Hub 2 (InnoHub2) is a UOB-wholly owned subsidiary and a Centre of Excellence based in Malaysia, providing Group Business Services (GBS) to support the UOB Group. Started in 2021 with technology application design, development and support, InnoHub2 is expanding beyond technology services to deliver other business services to support the Bank’s growth ambition. We are looking for talented and motivated individuals to be part of the pioneer team spearheading the development and delivery of the new services.
 
As part of the InnoHub2 team, you will have the opportunity to work on Group initiatives and gain regional business exposure. We are dynamic, passionate and purposeful about delivering trusted financial solutions that enables business growth. An exciting career progression with varied opportunities awaits you at IH2. Come grow your career with us.

Job Description

The Group Retail AFC Lead will be responsible for developing, implementing, and overseeing to prevent, detect and mitigate financial crimes such as fraud and money laundering.  

Leading a team in conducting:  

Card and CASA fraud surveillance to deter and secure account holder and customers' interest in their online banking activities by early detection and intervention.  

AML risk assessments, ensuring compliance with relevant regulations, investigating suspicious activities. 

Operational Effectiveness and Control 

1) Fraud Surveillance 

• Manage 3 main functions of operations: 

           a. Current Account & Savings Account (CASA) Fraud Surveillance 

           b. Card Fraud Surveillance 

           c. Authorization Support 24/7 Operations & Services 

• Handling fraud-related inquiries from internal and external stakeholders. 
• Support ad-hoc projects within the Business Unit on anti-scams efforts 
• Conduct regular case to ensure compliance with company policies and procedures (e.g., call quality monitoring, SLA review) 
• Close liaison with enforcement agencies to provide case support. 
• Collaborate with cross-functional teams to provide insight on trending scams and recommendations. 
• Identify opportunities to improve processes and mitigate evolving scam trends. 
• Streamline processes to improve work efficiency, Service Level Agreement (SLA) and productivity. 
• Review & monitor staff performance Key Performance Indicators and conduct performance reviews. 
• Provide training and support to staff on fraud detection and prevention measures. 
• Lead and collaborate with various departments including Operations, Risk, Audit and Compliance on operational issues and resolutions, and discussions.  
• Review Standard Operating Procedures and ensure strict compliance to internal policies and procedures. 
• BCP (Business Continuity Plan) coordinator for the team 
• Drive initiatives and ad hoc assignments. 

CASA Fraud Surveillance  

• Reviewing the fraud alerts actions completed by Fraud Analyst 
• Review high volume transactions data to identify potential fraudulent transactions and its root cause. 
• Decision making on whitelisting / blacklisting actions.  
• Utilize various tools and channels to gather facts and submit case summary for timely escalation to investigation team or touchpoints in accordance to prevailing Service Level Agreement.  
• Collation of monthly statistics for management reporting. 

CARD Fraud Surveillance  

• Collation of monthly statistics on various card fraud types, Card Present, Card Not Present, Scam, Lost & Stolen card, and 3DS transaction to submit for management reporting. 
• Collation on Call Stats and review Call performance to ensure pick up call meets SLA. 
• Respond to fraud-related inquiries from internal and external stakeholders. 

Authorization Support 24/7 Services 

• Collation and maintaining accurate records of all credit card transactions, authorizations for audit reference. 
• Conduct regular reviews Merchant & Card Authorization support needed from UOBs Internal Touch Points & External Touch Points (Visa & MasterCard Associations & other Card Issuing & Acquiring Bank & Acquired Merchants) Operations to ensure compliance with company policies and procedures. 

2) AML Operations 

• Oversees operational performance, i.e., cost, business outcomes and operational & AML risk. Leverage best practices and operational efficiencies across the AML processes. 
• Ensures consistent translation, application, and fulfilment of the policies, ensures SLAs are met and backlogs are remediated in a timely manner, manages operating metrics. Drives team productivity across the various AML processes. 
• Continuously reviews existing processes for opportunities to improve effectiveness and efficiency. Manages the effective communication and execution of the strategy. 
• Improves allocation of resources and realizes synergistic opportunities for the function. 
• Reviews audit reports, compliance reviews, and QA reports and take appropriate action regarding any significant findings. 

Stakeholder Engagement 

• Works with other members of the Group Retail Management and respective stakeholders, to create an appropriate vision and long-term strategy that proactively addresses changes in the industry, company and regulatory environment. 
• Maintains ongoing communication with Group Retail Fraud and AML Ops teams to ensure any impact on the Fraud and AML operations teams are planned for. 
• Stays informed about changes in regulations and engages Group Retail Fraud and AML Ops teams for implementation support. 
• Defines the technology strategy for AFC Ops teams and works with Group IT on delivering against that strategy. 
• Provides timely updates on ongoing activities including significant plans, progress, issues and successes to relevant stakeholders. 
• Establishes effective reporting disciplines and provides reports and presentations to senior management on significant issues. 

Leadership and Capacity 

• Manages the GR AFC Operations, including defining individual roles/responsibilities/goals; hiring; promotions; performance reviews etc. Ensures staff concerns are addressed and team members are given career advancement opportunities in order to maintain high morale and limit attrition. 
• Defines and delivers strategy for AFC Operations effectively and efficiently with adequate governance around risk and cost. 
• Establishes and leads an effective, high performing team through communication, performance management, and development planning and reward/recognition practices. 
• Monitors capacity and identifies skills / knowledge gaps to ensure the Team has the required training, skills, experience and capacity. 

Requirements 

• Degree or equivalent qualification preferred. 
• 10-15 years’ experience in Card and CASA surveillance, Authorization & Fraud Management, anti-money laundering and banking operations 
• Strong domain knowledge in card payment process & systems, AML and Sanctions. 
• Strong experience in managing banking operations, risk management and driving operational excellence (incl. managing a large team including budgets, people strategy and driving efficiency and effectiveness gains). 
• Strong knowledge of the latest financial crime investigation processes and methods 
• Previous experience on fraud surveillance in banking sector or law enforcement agencies will highly be considered. 
• Experience engaging with and influencing Senior Management on financial crime and operational issues. Keen interest in Scam, Fraud and AML Preventions & Detections.   
• Exceptional interpersonal, communication and stakeholder management skills.