FVP, Head of KYC Review

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 Client Ongoing Review Team is a sub team of the UOB Private Bank KYC Client Onboarding & Review Team which is part of the Private Bank COO Office. Members of the KYC Client Ongoing Review Team perform various roles in the ongoing due diligence of Private Banking client relationships 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 Client Ongoing Review Team provides guidance and partners the client facing teams to mitigate the potential AML/CFT risks as part of the client ongoing due diligence processes and performs quality control over the completed ongoing KYC reviews.

Job Responsibilities

• Lead and manage a team of 6 - 7 staff to review Private Banking clients’ account opening KYC profile for adequacy and compliance with policy requirements and regulatory expectations.
  • Due diligence performed by the team includes review of clients’ journey to wealth, the purpose of opening PB accounts (including wealth management structures), source of wealth (SOW) corroboration & plausibility, reasonableness of CRS declaration vis-à-vis client’s profile, eligibility of accredited investor (AI) status and name screening.
  • The team will liaise with Senior Client Advisors (SCA) and their Assistants (CAA) to complete the required client profiling i.e., SOW corroboration with the supporting evidence, plausibility of the wealth accumulation journey, source of funds (SOF), supporting documents for AI status etc.
  • The team will provide prompt, concise guidance to SCA for proper completion of client profiling and handle escalations expeditiously

• Perform active workload management and prioritization of onboarding cases to reduce KYC review median time.
• Liaise and communicate with key stakeholders e.g., Market Heads, Senior Team Leads on quality of case submissions, and timeliness of follow-ups by SCA.
• Assume the role of Subject Matter Expert for system enhancement project or AML related topics e.g., periodic review of clients’ acceptance policy.
• Collaborate with other teams in the PB Chief Operating Office to deliver consistent best in class client onboarding experience to our clients.
• Proactively identify areas of improvement and provide viable solutions.
• Ensure no repeat review findings by Group Compliance, Internal or External Auditors.

Job Requirements

Bachelor’s degree in any Finance & Banking or equivalent fields.

· At least 15 years of hands-on experience in the AML field (client onboarding review [including documentation], ongoing periodic client review, transactions monitoring) in a Bank and must be familiar with the MAS 626 requirements or other international AML/CFT standards.

· Ability to multi-task, manage a high number of priorities in a fast-paced environment and deliver solutions in an effective and timely manner.

· Strong organizational, communication and interpersonal skills with a track record of leading a client onboarding team.

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.

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