United Oversea Bank - UOB ★ 3.2

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, Thailand and Vietnam, 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

- Monitor the developments and changes of local AML/Sanctions laws, the bank AML/Sanctions policies, and compliance AML/Sanctions initiatives and ensure that the business staff are promptly apprised of new and revised AML/Sanctions policies and regulatory developments and advise the impact of these requirements, especially when they will impact the way the business is conducted or products which are offered to our customers. Assist the business to develop their procedures and manuals incorporating regulatory and the bank policies changes.
- Provide oversight, advisory and guidance to the businesses on the AML/Sanctions implementation to ensure that all AML/Sanctions related requirements are appropriately implemented.
- Oversee the review, approval and maintenance of new or existing high-risk clients KYC in accordance with established policies, procedures, and SLA standards/ timeframes. Approval includes determining whether to accept or reject prospective clients/transactions using information gathered during KYC/Transaction processing.
- Assist the business in identifying, investigating, and reporting suspicious activity/transaction; and escalate any potential material risk or sensitive information to Regional AML/Sanctions Compliance.
- Support new product and new business initiatives; provide compliance advisory and assistance to the business by providing the relevant information needed to ensure compliance with regulatory requirements and the bank policies.
- Identify, vet and address potential risks or escalated issues with the assistance of functional partners and key stakeholders
- Utilize information from regulatory changes, new regulations, and internal policy changes to further identify new key risk areas
- Analyze comparative data, prepare and present reports related to AML/Sanctions risk assessments, and monitor AML/Sanctions related issues and escalations
- Develop approaches/action plans to compliance and control issues by weighing various alternatives and balancing potentially conflicting situations
- Create and develop AML Compliance Risk Management (ACRM) standards and policies
- Advise and recommend a plan of action for management based on analysis of risk information
- Assist in coaching and training new recruits
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
- Provide oversight, advisory and guidance to the businesses on AFC, and other tasks as assigned.