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, Thailand and Vietnam, 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
About UOB
The Compliance function is a strategic partner and a trusted business enabler to the Board and senior management. It is our responsibility to ensure that the Group continuously fulfils its regulatory obligations in today&039;s tight and dynamic regulatory landscape. To do that, we work closely with internal stakeholders to identify and to assess regulatory risks. This collaboration also includes developing practical solutions that integrate regulations into operational requirements as well as actively shaping and promoting stronger compliance culture and literacy in the Bank.
Job Responsibilities
Strategic leadership:
• Define minimum standards on model performance and development methodology (applicable during model development and validation)- this will include qualitative and quantitative standards, as well as a compendium of regulatory requirements as they pertain to model performance
• Provide strategic advice where required on industry leading practices on the adoption and use of AFC analytics and automation solutions
Model validation:
• Take stock of all relevant AML/AFC models (ML and otherwise) to be validated and establish a validation calendar
• Be involved in the ongoing enhancement of model governance policies and processes at the bank by providing relevant inputs, including on model testing, model sign- offs, model bias assessments and approaches, and model compliance with applicable ethics standards
• Check and challenge all steps of the model creation, data usage and value to the business.
• Keep up to date with changes to regulatory requirements and update minimum standards of model development as needed
• Independently validate requirements and use cases based upon regulatory requirements.
Senior Management Engagement:
• Remain involved in the review panel for any new models developed by the Modelling team/other teams
• Provide validation reports/summaries and be involved in direct discussions with regulators when required
• Prepare independent reports on performance of AFC models to senior management on a regular basis
Team and Capacity Management:
• Manage the day- to- day functioning of the validation team, including planning resources, preparing budgets, identifying any enhancements needed on systems and tools used in model validation and monitoring etc.
• Manage the validation team, including defining individual roles and responsibilities; hiring; promotions; performance reviews etc.
• Provide direction and guidance to the validation team as an analytics subject- matter expert as well as an AFC risk & regulatory expert
