Job Description

SVP/FVP, Business Risk & Control, GR

Posting Date: 5 Mar 2024

Location:
Singapore (City Area), 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. 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 Transformation & COO Office is the enabler to achieve the business goals across the 3 business units of Group Retail - Personal Financial Services, Business Banking and Private Banking.

Group Retail has 13 strategic programs that cover customer touchpoints (digital and omnichannel), core product capabilities (cards, wealth, business banking) in addition to data and productivity programs. Each program has embarked on the new ways of working which is on the journey to develop empowered, cross-functional teams.

The Transformation Office is the central role that maintain the cadence with each program, and brings together the interdependencies across programs.

Job Responsibilities

Advisory & Strategy

• Act as the subject matter expert within the Business Risk and Controls Management (BRCM) function on fraud-related matters, specifically around fraud frameworks, investigation approaches, and surveillance - where appropriate, advise Anti-Financial Crime (AFC) Operations on emerging themes
• Maintain a comprehensive understanding and library of all anti-fraud controls in-place for Group Retail customers - both within Group Retail, and supporting functions
• Maintain oversight of Group Retail\'s exposure to internal fraud, closely liaising with Group Compliance Internal Fraud Investigations as needed; this includes keeping abreast of control deficiencies and action plans identified in internal fraud investigation reports, and tracking implementation against defined timelines
• Influence the business segment-level anti-fraud strategy, ascertaining the implications of new regulations (and translation of framework & policy requirements into business processes), emerging fraud trends, new products / channels launched by the business on anti-fraud activities
• Coordinate setting of the business segments\' fraud risk appetite thresholds and statements
• Engage GR stakeholders in identifying and advising required core engines and efficiency analytics to aid Fraud Surveillance, including identifying and working with Data Analytics teams on risk management initiatives; collaborate with said stakeholders to provide GR-specific domain knowledge and feedback on anti-fraud analytics models
• Proactively identify key emerging fraud risks within the business segment and/or industry and propose risk mitigating measures/controls (based on thematic findings identified from cases escalated)

Policy Operationalisation, Control Design, and Escalations

• Advise AFC Operations on fraud-related matters in a consultative and collaborative manner to support updating / designing Fraud Risk Management controls (including providing oversight on rule changes, reviewing SOPs / process manuals, and ensuring controls are compliant with regulatory requirements and Group-wide Fraud Risk Management Frameworks & Policies) - additionally, provide oversight on regulatory matters / liaising with respective subject matter risk assurance teams across BUs
• Serve as first-point of contact for fraud-related cases escalated by Fraud Operations, providing SME knowledge and expert advisory on cases (including supporting enhanced investigations, supporting determination of settlement outcomes, and providing advisory on retention of customer relationships as required)
• Drive adherence to the segment\'s case escalation framework, to promptly identify and escalate cases to Group Compliance and/or to senior management, where required

Governance, MI, and Training

• Support definition and analysis on fraud metrics and management information (MI) from teams involved in managing Fraud Operations; receive, collate, and sense-check fraud metrics and MI across all teams supporting Fraud Operations, and conduct portfolio analysis to understand patterns across customer segments and risk types
• Organise and manage Line 1 Fraud-related governance forums, ensuring that senior management is periodically updated on key metrics and developments
• Engage in training-related activities to support the business units within the segment on matters of fraud risk (both internal and external), and in advising on customer education & awareness raising in relation to Fraud

Job Requirements

Skills & Qualifications

• Degree or professional qualification in business or banking / financial services areas
• Minimum 8-10 years of experience preferably within an Anti-Financial Crime compliance-related function with anti-fraud expertise in a financial institution (preference for prior experience in a Line 1 Risk & Control role)
• Excellent knowledge of anti-fraud regulatory compliance, risk assessment, processes, and controls, with proven and relevant experience in a compliance-related setting
• Solid knowledge of banking and financial services regulations, and strong understanding of financial products and systems
• Demonstrated experience in managing anti-fraud advisory & policy operationalisation
• Strong stakeholder management experience demonstrated in prior roles (including managing external interfaces)
• Possess creativity, and self-motivation to identify solutions in an ever-changing regulatory environment
• Excellent communication and interpersonal skills to positive influence people to make appropriate decisions, and resolve conflicts effectively
• Ability to exercise considerable judgment and critical thinking in scenarios that are complex and highly sensitive

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.

Competencies

1. Strategise
2. Engage
3. Execute
4. Develop
5. Skills
6. Experience

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