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VP, Regulatory Compliance Officer, Group Compliance

Posting Date:  25-Dec-2021

Raffles Place, Singapore, SG

Company:  United Overseas Bank Limited

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.

About the Department

The Compliance function is a strategic partner and a trusted business enabler to the Board and senior management. It is our responsibility to ensure that the Group continuously fulfils its regulatory obligations in today’s tight and dynamic regulatory landscape. To do that, we work closely with internal stakeholders to identify and to assess regulatory risks. This collaboration also includes developing practical solutions that integrate regulations into operational requirements as well as actively shaping and promoting stronger compliance culture and literacy in the Bank.

Job Responsibilities

We are looking for strategic and forward-looking individuals with sound understanding of the banking business operations and underlying risk exposure to add value through:

  • Providing regulatory advisory related to financial services industry-related banking regulations, US Foreign Account Tax Compliance Act (US FATCA) and the OECD Common Reporting Standard (OECD CRS) to business units and support units.
  • Performing regulatory risk assessments to assess business risks.
  • Crafting annual compliance plans for and engage corporate functions on the matter.
  • Reviewing and testing compliance with applicable compliance laws, rules, standard and internal policies & procedures.
  • Providing governance oversight of overseas entities including advising them, reviewing compliance documents such as compliance manuals, compliance plans, and review & testing programs.
  • Developing and reviewing policy.
  • Fielding and addressing MAS’ queries in collaboration with internal stakeholders.
  • Assisting in conducting research on regulatory regimes in and outside Singapore.
  • Keeping abreast of regulatory changes and disseminating regulatory updates.
  • Maintaining e-learning training programs, including supporting Human Resources’ initiative to transform the training programs into mobile-friendly format.
  • Collaborating with internal stakeholders on data analytics and automation project (e.g. using analytics to generate samples for compliance reviews).
  • Execute other tasks as assigned.

Job Requirements

  • Good degree in Accounting, Banking & Finance, Law or equivalent.
  • 6-10 years in legal, tax, compliance, audit, risk management or regulatory work in the financial services industry (within a banking environment is a plus).
  • Strong knowledge of and practical experience in the US FATCA and OECD CRS would be essential to performing well in this role.  Knowledge in the other financial services industry-related regulations such as the Banking Act and Securities & Futures Act is a strong plus.
  • Good knowledge of banking business operations and products and services.
  • Strong analytical, writing and communication skills, meticulous, and ability to work independently.
  • Good stakeholder management skills.
  • Team player and demonstrated ability to manage multiple demands and priorities.
  • Good judgment, problem solving skills and be results/task oriented to ensure sound implementation of controls, compliance processes and procedures.
  • High personal standard of integrity, ethics and commitment to fulfilling the objectives of the position.

Be a part of 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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