VP, Transaction Monitoring

VP, Transaction Monitoring

Posting Date: 6 Mar 2025

Location: Singapore, SG

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

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

The UOB Group strictly adheres to its Anti Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Sanctions regulatory obligations. Transaction Surveillance Unit (TSU) is responsible for ongoing transaction monitoring (TM) of customer account activities and alert management functions in the context of monitoring, investigation and reporting of ML/TF alerts to ensure material ML/TF risks are identified and mitigated, and suspicious transaction reports (STR) are filed in a timely manner. Reporting to the Head of TSU, the successful candidate will lead and manage a team of alert analysts ensuring that alert handling, investigation and reporting comply with the group’s policies and relevant laws and regulations.

Alert Management

1. Conduct holistic evaluation on potential STR cases, make decisions to file STR and file STR within the regulatory required timeline. Communicate with the Business Units (BU) and update relevant case systems in relation to STR cases.
2. Investigate alerts involving UOB staff.
3. Own overall responsibilities for the performance of the team ensuring that the quality of alert investigations and reports comply with the standard and requirements of TSU alert management procedures.
4. Track, analyze and report key metrics in relation to alert volume, alert turnaround time and alert trends to identify areas for improvement.
5. Help to standardize and implement alert handling processes and procedures.

Quality Assurance and Staff Management

1. Monitor, manage and enhance the quality of alert investigations and reports.
2. Identify training needs. Train alert analysts to utilize relevant systems and tools that increase efficiency.
3. Manage resources and leave plans of the team.

Project & Stakeholder Management

1. Promote collaboration with stakeholders. Handle requests and inquiries from BU and other risk control functions in a timely manner.
2. Identify, report and make recommendations to address any control or process gaps and to promote efficiency.
3. Handle any ad hoc cases or projects in relation to TSU functions and transformation initiatives.

Job Requirements

1. 5+ years of AML/CFT compliance experience in banks/financial institutions including a minimum of 2 years supervisory roles in AML alert management.
2. Experience with Actimize or similar TM and detection tools.
3. Good analytical and problem-solving skills.
4. Good knowledge/understanding of banking and financial services laws & regulations, compliance best practices and understanding of financial products & systems.
5. Strong interpersonal, communication and presentation skills.

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.