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VP, AML Compliance (Customer Review Unit), Group Retail

Posting Date:  04-Nov-2021

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

You will be part of the Business Compliance-Retail / BRCM AML Customer Review Unit working closely with the Bank’s Personal Financial Services.  

The Customer Review Unit plays a key role to ensure customers’ profile and account activities are consistent with regulatory and compliance requirements and the Bank’s AML business risk appetite.  The Unit provides guidance and partners customer facing teams to identify and mitigate the potential AML/CFT risks.

You will keep abreast of regulatory developments in the prevention of money laundering and terrorist financing activities and assess its impact on Group Retail.  You will provide interpretation, advisory and recommendations to Business Units on the implementation of AML related practices and due diligence on customers.

Job Responsibilities

•    Conduct holistic assessment on customers’ profile and transactional patterns for Sanctions, ML/TF risk
•    Identify key risk areas and work with relationship managers to ensure suspicious activities are adequately addressed with supporting documentation and institute effective risk mitigating plans
•    Provide guidance to the business to ensure consistent interpretation and implementation of AML/CFT standards in the review of customer relationships
•    Recommend account strategy and manage escalations to Group Compliance, Senior Management and Group AML Committee, when required
•    Manage full suite of customer reviews to ensure timeliness in case closures
•    Provide advisory to business units for customer on-boarding and retention of customer relationships 
•    Identify regulatory risk and AML/CFT requirements to assess impact and assist Business units to develop processes and controls to manage risks
•    Conduct investigations into suspected ML/TF activities
•    Conduct Compliance Training to raise staff awareness on AML/CFT controls, trends and typologies

Job Requirements

•    Bachelor’s Degree in Banking, Business Management or related fields
•    Relevant 5-8 years of experience in KYC due diligence on Individuals
•    Strong working knowledge of MAS 626 regulations, AML/CFT standards, SOW corroboration, local and cross-border ML/TF typologies and risk mitigation
•    ACAMs certification with experience on AML processes, systems and KYC on SMEs is preferred
•    Strong interpersonal and communication skills
•    Meticulous, analytical and resourceful
•    Proficient in Microsoft office suite of applications

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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