Mgr/SO, Risk & Control, AML Operations - Preparer-1

1011 United Overseas Bank Ltd; Singapore; On-site; SGD 60,000 - 90,000; Full time

Job summary

1011 United Overseas Bank Ltd in Singapore is seeking an AML Research Specialist to verify sources of wealth for designated clients. You will conduct in-depth analysis of financial information, identify risks, and prepare concise SOW reports for internal stakeholders.

You will work with Relationship Managers and Compliance to resolve discrepancies, escalate red flags, and ensure adherence to CDD/EDD rules, with ongoing training and process improvements to strengthen the bank's AML program.

Qualifications

• Bachelor's degree in Finance, Economics, Accounting, Law, Criminal Justice, or related field.
• Minimum of 2-4 years AML operations, financial crime compliance, due diligence, or similar role.
• Strong understanding of AML regulations including CDD and EDD, Source of Wealth requirements.
• Proven ability to conduct thorough research, analyze complex data, and synthesize information into reports.
• Excellent written and verbal communication; high attention to detail.

Responsibilities

• Conduct in-depth research to identify legitimate sources of wealth for designated customers.
• Analyze complex financial information and structures to explain wealth accumulation.
• Prepare Source of Wealth (SOW) reports with accuracy and quality.
• Collaborate with Relationship Managers, Compliance Officers, and other stakeholders.
• Identify and escalate red flags or inconsistencies to relevant teams.
• Assess findings and recommend account outcomes in line with policy.
• Maintain meticulous records per bank policies and regulatory requirements.
• Stay updated on evolving AML regulations and best practices.
• Participate in training and process improvements within AML Operations.

Skills

AML expertise

Analytical thinking

Research skills

Communication skills

Attention to detail

Team collaboration

Education

Bachelor's degree in Finance

Bachelor's degree in Economics

Tools

Financial databases

CDD/EDD tools

Job description

Company: 1011 United Overseas Bank Ltd About UOB United Overseas Bank Limited (UOB) is a leading bank in ASEAN with a global network in Southeast Asia, Asia Pacific, Europe and North America. Operating through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, we have a global network of about 430 branches and offices in 19 markets. At the heart of UOB is our culture, shaped by the UOB Way and anchored on our four values – Honourable, Enterprising, United and Committed. For more than 90 years, these values have guided how we do right by our customers, collaborate with one another and create long-term value for the communities we operate in. As One Bank, we are committed to helping our colleagues build sustainable careers grounded in purpose, supported by strong values, and enriched with meaningful opportunities to grow.

UOB is rated as one of the world's top banks, ranked 'Aa1' by Moody's Investors Service and 'AA-' by both S&P Global and Fitch Ratings. With a global network of 500 branches and offices across 19 countries in Asia Pacific, Europe and North America. In Asia, we operate through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, as well as branches and offices throughout the region.

Job Responsibilities

• Conduct in-depth research using internal and external sources (e.g., public records, open-source intelligence, regulatory databases, client-provided documentation) to identify and verify the legitimate source of wealth for designated customers.
• Analyze complex financial information, business structures, and legal documents to construct a clear and concise narrative explaining the customer's wealth accumulation.
• Prepare clear, concise and well supported Source of Wealth (SOW) reports, ensuring accuracy, completeness, and adherence to established templates and quality standards.
• Collaborate effectively with Relationship Managers, Compliance Officers, and other stakeholders to gather necessary information and clarify discrepancies.
• Identify and escal potential red flags, suspicious activity, or inconsistencies observed during the preparation process to relevant teams or management.
• Assess findings and recommend appropriate account relationship outcomes, including continuation, escalation, referral, restriction, exclusion, or account closure, in line with the Bank's risk appetite and regulatory requirements.
• Maintain meticulous records of all research conducted and documentation reviewed in accordance with bank policies and regulatory requirements.
• Stay updated on evolving AML regulations, industry best practices, and internal guidelines related to SOW requirements.
• Participate in training sessions and continuous professional development to enhance expertise in AML and financial crime prevention.
• Contribute to process improvements and efficiency initiatives within the AML Operations department.

Job Qualifications

• Bachelor's degree in Finance, Economics, Accounting, Law, Criminal Justice, or a related field.
• Minimum of 2-4 years of experience in Anti-Money Laundering (AML) operations, financial crime compliance, due diligence, or a similar role within the financial services industry.
• Strong understanding of AML regulations, particularly those related to customer due diligence (CDD) and enhanced due diligence (EDD), including Source of Wealth requirements.
• Proven ability to conduct thorough research, analyze complex data, and synthesize information into clear and coherent reports.
• Excellent written and verbal communication skills, with the ability to articulate complex financial concepts clearly.
• High level of attention to detail and accuracy in all work performed.
• Proficiency in using various research tools and financial databases.
• Ability to work independently and as part of a team in a fast-paced, deadline-driven environment.
• Strong analytical and problem-solving skills.
• CAMS or other relevant AML certifications are a plus.

Additional Requirements

Develop (Competency), Engage (Competency), Execute (Competency), Strategise (Competency)

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.