VP, Business Risk Manager, Private Bank

VP, Business Risk Manager, Private Bank

Posting Date: 24 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.

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 Business Risk and Controls Management (PB BRCM) function sits with the PB Business as part of the 1st line of defense, under the PB COO organization. PB BRCM actively drives and maintains oversight of the front to back activities and risk profile of the PB business, in close partnership with the business and supporting control functions. The PB BRCM function has responsibility over ensuring proper management and oversight across Non-financial risk taxonomies, including Investment Suitability, AML/KYC, Anti-fraud, Conduct, Cross border activities, Data Privacy, BCM etc.

Job Responsibilities

As a member of the Private Bank BRCM team, this role will play an important role in assisting the Head of Private Bank BRCM in driving Risk and Regulatory Competency capabilities within the 1st line of defense. Specifically, this role will drive the continuous build out of the PB AML Risk Competency Centre and work closely or manage other members of the BRCM team, as well as Front office and business partners (e.g. Products / COO) on:

1. AML Assurance Review:
   - Design and execute AML assurance testing programs to ensure compliance with regulatory requirements and internal policies.
   - Conduct risk-based assurance testing of AML controls against procedures and guidelines.
   - Identify and report areas for enhancements or remediations.
   - Lead special projects, thematic reviews or investigations through the use of analytics (where possible) around certain key risk taxonomies (e.g. Anti-Fraud).
   - Deploy use of data analytics to pro-actively identify emerging risk hotspots or indicators.
2. AML Advisory:
   - Provide expert advice on AML related matters, including customer due diligence, transaction monitoring, and reporting.
   - Conduct risk assessments and develop mitigating strategies/controls.
   - Collaborate with business units to ensure compliance with AML regulations.
3. Regulatory and Governance Framework:
   - Manage and drive implementation of regulatory change portfolio, ensuring alignment with regulatory requirements and industry best practices.
   - Provide guidance and work with key stakeholders for new regulatory assessments.
   - Manage key risk governance forums, audit and regulatory inspections.
4. Collaboration and Stakeholder Management:
   - Work closely with COO teams, Compliance, and Risk teams to ensure effective AML controls and governance.
   - Develop and maintain relationships with key stakeholders, including regulators, auditors, and industry partners.

Job Requirements

At least 5 years and above of experience in financial institution preferably with background in business risk, compliance, audit or consulting:
• Deep experience in AML and Anti-Fraud regulations and application of requirements within Private Bank frameworks, including assurance testing procedures.
• Good track record in managing regulatory and risk change portfolios, projects governances and inspections.
• Adept at PowerPoint and familiarity in working with data for risk management, particularly in data analytics / automation / visualization skillsets.
• Ability to drive thematic reviews and assessments of risk topics or special cases (e.g. plan, execute, report).
• Possesses the necessary communication skills and ability to work effectively with all levels within the organization.
• Understanding of the Private Bank business and processes would be an advantage.
• Self-starter, motivated, independent, meticulous with analytical mindset to problem solve and drive topics and solutions.
• Undergraduate degree in quantitative programme such as Statistics, Business Analytics, Computer Science or Post-graduate degree in analytics or risk management is preferred.

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.