Regulatory Compliance Advisory

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, 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
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'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 Objectives
• To promote a culture of compliance across the Bank.
• To set Bank's policies covering ethical and compliance standards.
• To establish and implement appropriate compliance risk management techniques to ensure that the Bank's Regulatory Compliance Risks are managed effectively.
• To set compliance training standards and facilitate the provision of appropriate training.
• To manage regulatory relationships at a Bank level and develop a plan to promote a pragmatic and healthy regulatory climate with regulators.
• To report to the Regulatory Compliance Advisory Head on the effectiveness of the Bank's compliance arrangements, including the results of compliance monitoring, significant breaches, any instances of regulatory censure, e.g. fines of sanctions imposed, key changes in the CLRS and on liaison with the SBV.
• To assist the Regulatory Compliance Advisory Head in ensuring procedures are maintained and subject to periodic evaluation; and reporting to the CCEO and informing Businesses of the changes in the Compliance Laws, Rules and Standards ("CLRS") relevant applicable regulations on a regular or ad-hoc basis.
• To assist relevant Businesses in developing and reviewing internal regulations to ensure compliance with the CRLS, and handle issues related to the observance of the CLRS.
Responsibilities
Regulatory Compliance Advisory Officer shall perform following key responsibilities:
• Identifies, assesses and documents the Regulatory Compliance Risks associated with the business activities of UOBV including new products, services, business practices and business operations and material changes to existing business and customer relationships, etc.
• Facilitates a robust assessment of the main Regulatory Compliance Risks through a risk and control self-assessment framework in collaboration with the Businesses.
• Facilitates Businesses in the development of guidelines for use by the Senior Management, their line managers and staff where applicable.
• Assists the Senior Management in educating relevant UOBV's staff on regulatory compliance issues, and acts as a point of contact within Vietnam for regulatory compliance queries from UOBV's staff.
• Provides advice, guidance and on-going training to UOBV's staff on the appropriate implementation of Compliance's frameworks which include policies and procedures such as those contained in Regulatory Advisory Compliance's policies/ CLRS where applicable.
• Advises the various units of UOBV and the Senior Management on regulatory obligations that are listed in Compliance's Regulatory Risk Assessments. This includes the provision of advice on the implications of changes in the CLRS.
• Monitors, tests and reports compliance related to Regulatory Compliance Risk Governance Framework and internal policies/procedures to the Senior Management and the MC and, if required, to any regulatory authority. However, the responsibility for ensuring day-to-day compliance remains with all Businesses.
• Makes enquiries into regulatory compliance incidents and complaints that Compliance is identified as a stakeholder or directly involved by relevant parties, and carrying out further investigations into such incidents and complaints as appropriate.
• Acts as the key liaison officer with relevant external bodies, including regulators, standard setters and external experts (if required); and
• Fulfils its responsibilities under the compliance plans developed for UOBV in accordance with its regulatory compliance risk management framework including performing compliance review on a risk-based approach.