Vice President, Risk Governance and Advisory - Fraud, Group Wholesale Banking

Company: 1011 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.

Job Description

About the Department

The Wholesale Bank function operates a dynamic business model that provides financial services and solutions to help our clients achieve their strategic business objectives. Our mission is to become the premier-provider of banking services and solutions for Asia-based commercial banking companies (small medium enterprises), large corporations, financial institutions as well as multinational corporations. Our coverage teams work in full alignment with specialised teams across Transaction Banking, Investment Banking, Global Markets and Group Retail to deliver seamless solutions to our clients.
 

Job Responsibilities

The successful candidate will be part of the Group Wholesale Banking (“GWB”) Business Risk and Control Management (“BRCM”) Fraud advisory team with the key responsibilities are as follows:

Advisory & Strategy

• Act as the subject matter expert within the Business Risk and Controls Management (BRCM) function on credit and vendor fraud-related matters, specifically around fraud frameworks, investigation approaches, and surveillance – where appropriate, advise Fraud Operations on emerging themes.
• Influence the business segment-level Anti-Fraud strategy, ascertaining the implications of new regulations (and translation of framework & credit fraud 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 where credit and vendor fraud are involved.
• Engage Group Wholesale business stakeholders in identifying and advising required systems and efficiency analytics to aid Fraud Surveillance, including identifying and working with Data Analytics teams on risk management initiatives.
• Collaborate with internal stakeholders within the bank (e.g. Group Compliance) to provide domain knowledge and feedback based on detective analytics models developed by the bank to enhance Fraud Detection & Surveillance
• 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 Fraud Operations on credit / vendor 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 Group Retail.
• Serve as first-point of contact for fraud-related cases escalated by Fraud Operations, providing SME knowledge on credit / vendor fraud and expert advisory on cases (including supporting enhanced investigations, supporting determination of settlement outcomes, and providing advisory on retention of customer relationships as required)
• Maintain a strong sense of the business segment’s case escalation framework, to promptly identify and escalate cases to Group Compliance and/or to GWB senior management, where required

Governance & MI

• Develop and support definition and analysis on credit / vendor 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.

Training

• Assist to provide guidance, training, and support to the business units within the segment, and represent BRCM on projects and working groups as required; work closely with Group Compliance to provide inputs to mandatory and thematic Anti-Fraud training.
• Assist to educate customer touchpoints on emerging fraud risks / attack vectors which may be encountered by customer segments within the business, and potentially lead to increased volumes of customer queries.

Job Requirements

• Degree or professional qualification in business or banking/financial services related areas.
• At least 10 years of relevant compliance advisory experience in fraud, anti-fraud framework and fraud investigations.
• Hands-on experience in operationalising fraud policies and guidelines
• A team player, strong interpersonal, communication and presentation skills; must have a go getter mindset. 
• Good knowledge/understanding of banking and financial services laws & regulations, compliance best practices and understanding of financial products & systems
• Ability to work effectively, under pressure, in a rapid changing environment, as well as autonomously and as an effective member of a dynamic team
• Possesses good analytical and problem-solving skills
• Able to work on multiple assignments
• Self-driven, meticulous and able to operate expeditiously

Additional Requirements

Be a Part of the 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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