VP, KYC Monitoring, Private Bank
3 days ago
Posting Date: 6 Jan 2025
Location:
Raffles (City Area), Singapore, 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
UOB Private Bank is dedicated to managing the wealth of high-net-worth individuals with investment assets of $5 million and above. Keeping in mind our clients' financial objectives, we provide tailored products and solutions that draw on the Group's comprehensive suite of personal, business and investment services.
The Private Bank KYC Monitoring Team is a sub team of the UOB Private Bank Client Onboarding & Review Team, which is part of the Private Bank COO Office. Members of the KYC Monitoring Team perform various roles post client onboarding, these include transactions review as part of periodic client reviews, investigations, watch list and grey list management, UAR filing, post-STR account management, name screening and client segment transfers.
The team plays an important role to ensure the clients' profile and the account activities remain consistent with the purpose of a Private Banking relationship, as well as conforming to the regulatory requirements and compliance expectations with respect to the Private Banking AML business risk appetite.
The KYC Monitoring Team also provides guidance and partners the client facing teams to mitigate the potential AML/CFT risks as part of aforementioned responsibilities.
Job Responsibilities
•Clearance of system generated name screening alerts or manual screenings
•Conduct AML preliminary checks for transfer of clients to other banking segments
•Perform enhanced due diligence and transactions review of Grey List accounts, accounts filed with STR and any ad-hoc reviews. Ensure appropriate level of due diligence is completed and the nature/conduct of high risk client relationship is appropriate, flagging any issues with relationship manager, Group Compliance and Senior Management when necessary.
•Prepare submission of UAR to Group Compliance
•Partner to the front office on KYC related matters and to provide prompt, concise guidance to stakeholders and handle escalations expeditiously
•To proactively identify areas of improvement and suggest viable solutions
•To participate in AML related projects as a content provider or a stakeholder
•To perform management reporting and data analysis on key operational risk items
•To ensure no repeat review findings by Business Compliance, Group Compliance, Internal or External Auditors.
Job Requirements
•Bachelor's degree in any Finance & Banking or equivalent fields
•At least 3 - 10 years of hands-on experience in the AML field (client onboarding review, ongoing periodic client review, transactions monitoring) in a Private Bank and must be familiar with the MAS 626 requirements or other international AML/CFT standards•Ability to multitask and manage a high number of priorities in a fast-paced environment Strong organisational skills with excellent attention to detail
•Able to deliver the solution in an effective and timely manner
•Able to apply lateral thinking when analyzing issues or solving problems, experience in research & analysis of data and documents
•Good verbal and written communication skills, hands on and versatile
•An expert in the use of Microsoft Office applications (i.e. Excel, Powerpoint, Word)
•Team player, self-motivated and diligent towards attaining goals
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.
Apply now and make a difference.
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