Anti Money Laundering jobs in Singapore

Location: Raffles (City Area), SG, 048624

Company: United Overseas Bank Ltd

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, 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.

The Retail function provides Personal and Business Banking customers with financial solutions tailored to their needs. We help them manage their money wisely and meet their financial goals through an extensive range of products and services, including deposits, insurance, secured and unsecured loans, investment, and wealth advisory services. We design and provide products and services that empower our customers to enjoy greater banking convenience while extracting more value from their money.

You will be part of the Anti-Financial Crime team within Group Retail that covers a range of banking segments and products. You will ensure that the governance and controls framework is applied and tested for assurance, creating additional risk awareness and an ethical culture within our workforce.

You are a competent subject matter expert in anti-money laundering, countering the financing of terrorism, sanctions, and fraud. As a seasoned practitioner, you will design and conceptualize dashboards and key risk indicators, providing impact analysis, interpretation, advisory, and recommendations to Business Units for the implementation of AML-related policies and practices. You will suggest recommendations to sharpen our risk awareness and provide solutions on how to manage any emerging areas for improvement/risks/trends.

You are a team player and able to effectively collaborate with the business to build an efficient environment for Compliance and Audit. You will enhance the design of the existing framework to provide effective testing and assurance to senior management on the controls.

1. Be familiar with the Group AML/CFT procedures and regulatory requirements.
2. Provide control and quality testing on critical functions and key AML/CFT/Sanctions/Fraud policies, procedures, and guidelines.
3. Proficient in using Data Analytics in testing to be more effective and comprehensive.
4. Continuously design and update test scenarios to keep up with emergent trends.
5. Timely execution of monthly assurance tests and present results meaningfully to stakeholders.
6. Translate test results to learning.
7. Proactively suggest suitable operational advisory to business units for key processes such as customer onboarding and retention of customer relationships.
8. Identify regulatory risk and AML/CFT requirements to assess impact on business segments and escalate potential risk signals.
9. Assist business units to operationalize and develop processes and controls to manage risks.
10. Review new business initiatives for compliance with AML/CFT governance requirements.
11. Conduct investigation into suspected ML/TF activities.
12. Review audit findings from internal & external reviews to assess adequacy of controls and facilitate formulation of corrective actions.
13. Participate in strategic AML projects and initiatives to advise on AML controls.
14. Facilitate the gathering and provision of data/information to Management oversight.
15. Conduct Compliance Training to raise staff awareness on AML/CFT controls, trends, and typologies.
16. Prepare regular management reports to raise awareness on risk areas and exposure.

1. Bachelor’s Degree in Business Management or related fields.
2. Working knowledge of MAS 626 Regulations and Guidelines.
3. Relevant 5 or more years of experience in AML/CFT/Sanctions or relevant Audit or Regulatory experience.
4. ACAMs certification and prior experience in AML system and process design is preferred.
5. Resourceful, meticulous, analytical with strong interpersonal and communication skills.
6. Proficient in Microsoft Office suite of applications.
7. Use of analytical tools such as Power BI, QlikView is an advantage.

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.