VP1, KYC Client Due Diligence, Private Bank

United Overseas Bank
Singapore, Singapore
17 Jun 2022
17 Jul 2022
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
VP1, KYC Client Due Diligence, Private Bank

Posting Date: 15-Jun-2022

Location: SG

Company: United Overseas Bank Limited

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 Client Due Diligence (CDD) Team is a sub team of the UOB Private Bank Middle Office, which is part of the Private Bank COO Office. Members of the CDD Team perform various documentation formalities review for account opening and change in clients' circumstances.

The team plays an important role to ensure the clients' profile are created & maintained correctly, 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 CDD Team also provides guidance and partners the client facing teams to mitigate the potential AML/CFT risks as part of aforementioned responsibilities

Job Responsibilities
• To review Private Banking clients' account opening documentation for adequacy and compliance with legal, regulatory and policy requirements
• To liaise with Relationship Managers (RM) and their Assistants (CAA) to complete the required account opening documentation; to provide advisory and guidance on documentation requirements where required
• To ensure timely & accurate processing of client documents
• To liaise with the operation teams to ensure accounts are opened in the systems timely
• To ensure document deficiencies are accurately tracked and escalated per procedures
• To review change in client's circumstances based on client's documents received
• To clear system generated name screening alerts or perform manual screening
• To support other teams where necessary on various activities e.g. such as signature verification, information retrieval
• To collaborate with the client onboarding team and other stake holders to deliver consistent best in class account opening experience to our clients
• To proactively identify areas of improvement and suggest viable solutions
• To participate in AML related projects as a content provider or a stakeholder
• To perform management reporting and data analysis on key operational risk items
• To ensure no repeat review findings by Business Compliance, Group Compliance, Internal or External Auditors.

Job Requirements
• Bachelor's degree in any Finance & Banking or equivalent fields
• At least 3 years of hands-on experience in the AML field (client onboarding review [including documentation], ongoing periodic client review, transactions monitoring) in a Private Bank and must be familiar with the MAS 626 requirements or other international AML/CFT standards
• Ability to multitask and manage a high number of priorities in a fast-paced environment
• Strong organizational skills with excellent attention to detail
• Able to deliver the solution in an effective and timely manner
• Able to apply lateral thinking when analyzing issues or solving problems, experience in research & analysis of data and documents
• Good verbal and written communication skills, hands on and versatile
• Proficient in the use of Microsoft Office applications (i.e. Excel, PowerPoint, Word)
• Team player, self-motivated and diligent towards attaining goals.

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.

Apply now and make a difference.

Similar jobs

Similar jobs