VP, Anti Money Laundering (AML), Compliance Officer, Group COO Retail

United Overseas Bank Ltd.; Singapore; On-site; SGD 60,000 - 100,000; Full time

Job summary

Join a leading bank in Asia where you will play a crucial role in managing risk and compliance related to Anti-Money Laundering and Counter Financing of Terrorism. This dynamic position involves conducting comprehensive reviews and assessments of customer relationships, ensuring adherence to regulatory standards, and providing guidance to business units. You will collaborate with various stakeholders to develop effective risk mitigation measures and conduct training to enhance awareness of AML controls. This is an exciting opportunity to contribute to the financial sector while promoting ethical banking practices and safeguarding the institution's integrity.

Qualifications

• 5+ years of experience in AML/CFT/Sanctions.
• Knowledge of MAS 626 Regulations and Guidelines.

Responsibilities

• Conduct post-STR reviews and risk assessments on customer relationships.
• Provide guidance on AML/CFT standards and conduct compliance training.

Skills

Analytical Skills

Interpersonal Skills

Communication Skills

Resourcefulness

Education

Bachelor’s Degree in Business Management

Tools

Microsoft Office Suite

Job description

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Posting Date: 6 Feb 2025

Location:

Singapore (City Area), SG, 048624

Company: United Overseas Bank Ltd

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

TheRetailfunction provides Personal and Business Banking customers with financial solutions tailored to their needs. We help them manage their money wisely and meet their financial goals through an extensive range of products and services. These include deposit, insurance, secured and unsecured loans, investment and wealth advisory services.

We design and provide products and services that empower our customers to enjoy greater banking convenience while they extract more value from their money. In particular, we are focused on promoting and developing healthy saving and investment practices across generations.

The COO Office has Business Risk & Control teams across various risk types, acting as safeguard for the business

Job Responsibilities

• Conduct comprehensive post-STR reviews and holistic risk assessment on customers’ relationships and their related parties, including but not limited to customers’ KYC profiles and transactional patterns
• Make recommendations on account strategy and liaise with various stakeholders for follow-up actions to ensure satisfactory case resolutions
• Identify key risk areas and work with relationship managers to ensure suspicious activities are adequately addressed with supporting documentation and institute effective risk mitigating measures
• Provide guidance to Business Units to ensure consistent interpretation and implementation of AML/CFTstandards in the review of customer relationships
• Undertake investigations into suspected ML/TF activities
• Review 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
• Keep abreast and assess impact of evolving AML/CFT requirements and typologies and assist Business Units to develop procedures, processes and internal controls in order to manage risks and strengthen the first line of defence
• Support Business Units in ensuring adherence to Group AML/CFT and Sanctions policies, guidelines anddirectives Perform UAT on new/enhanced features and suggest improvements for the relevant AML systemsor processes
• Conduct Compliance Training to raise staff awareness on AML/CFT controls, trends and typologies

Job Requirements

• Bachelor’s Degree in Business Management or related fields
• Working knowledge of MAS 626 Regulations and Guidelines
• Relevant 5 or more years of experience in AML/CFT/Sanctions
• ACAMs certification and prior experience in AML system and process design is preferred
• Resourceful, meticulous, analytical with strong interpersonal and communication skills
• 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.