Global Sanctions Compliance Specialist
1 day ago
We are seeking an experienced Global Sanctions Compliance Specialist to join our team at United Overseas Bank. This is a critical role that requires a deep understanding of sanctions laws and regulations, as well as strong analytical and problem-solving skills.
About the Department
Our Compliance function is a strategic partner to the Board and senior management, ensuring the Group fulfils its regulatory obligations in today's complex regulatory landscape. We work closely with internal stakeholders to identify and assess regulatory risks, develop practical solutions, and promote a stronger compliance culture and literacy within the Bank.
Job Responsibilities
- Submit, review, and assess monthly suppression rules for payment screening.
- Participate in policy decisions on screening risk tolerance, list management, screening approach, and strategy.
- Monitor and interpret developments around sanctions laws, regulations, and risk trends, and their impact on screening controls across the Group.
- Provide advice on name and transaction screening from an AML/CFT & Sanctions perspective to key stakeholders in the Business and Support Units, Group Technology & Operations.
- Design and implement robust quality assurance programs to ensure tuning and optimization approaches in screening systems do not result in the Bank breaching policies, standards, and procedures.
- Review and contribute to the maintenance of Group Sanctions Policies and Procedures to ensure effectiveness and relevance to laws, regulations, and best practices.
- Provide consistent advice and implementation of Group Sanctions Procedure and the Group Watchlist Management and Screening Standards.
- Provide key updates on sanctions or screening-related matters to respective business forums and risk committees.
- Work alongside Business Units and Business Compliance Officers in managing sanctions and screening controls and risk.
- Other support as required by the Head of Sanctions Policy, Advisory, and Training from time to time.
Requirements
- Degree and/or professional qualification in business or banking/financial services related areas.
- At least 5 years of relevant work experience covering tuning and optimization of sanctions / AML screening systems in a global/regional financial institution with a wide geographical coverage.
- Expert knowledge and experience with the Fircosoft Continuity system functionality, algorithms, and parameters will be an added advantage.
- Prior experience in implementing machine-learning models or cutting-edge market solutions aiding in reducing false positive alert rates will be a plus.
- Good knowledge and understanding of relevant sanctions laws & regulations, name/payment screening best practices, and the constantly evolving payments and name screening landscape.
- Self-driven, meticulous, and resourceful, yet able to exhibit strong interpersonal and stakeholder management skills.
- Ability to embrace and manage a multi-cultural stakeholder base.
- Ability to appreciate the business and market environment in which the Bank operates and the key risks the Bank is exposed to.
- Ability to identify, assess, monitor, and mitigate risks in order to implement a robust Sanctions and screening framework to protect the Bank.
- Ability to work effectively under pressure in a rapidly changing environment, autonomously, and as an effective member of a dynamic Sanctions Policy, Advisory, and Training team.
What We Offer
As a valued employee of United Overseas Bank, you can expect a competitive salary range of SGD $120,000 - SGD $180,000 per annum, depending on experience. Additionally, we offer a comprehensive benefits package, including medical insurance, retirement savings plan, and paid vacation leave.
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