Overview

Payment Operations

Vice President, Sanctions Screening – (2500003G)

Description

 

As the Sanctions Screening Operations Manager, you will be responsible for leading the sanctions screening within OCBC. This role involves collaborating closely with internal and external stakeholders, including business units, Group Financial Crime Compliance, and Technology teams, to ensure the effective and compliant screening of transactions against relevant sanctions lists. You will play a crucial role in mitigating risks associated with financial crime while enhancing operational efficiency. You will collaborate closely with internal stakeholders, including Financial Crime Compliance, Risk Management, and Operations teams, to ensure that our sanctions screening processes are robust, efficient, and aligned with regulatory requirements. Your leadership will be pivotal in fostering a culture of compliance, enhancing operational efficiency, and ensuring that OCBC remains vigilant against potential sanctions violations.

Key Responsibilities

  • Establish and implement a Sanctions Screening Operating Model by developing a comprehensive framework that outlines the processes, roles, responsibilities, and technologies essential for effective sanctions screening within OCBC.
  • Ensure that the operating model aligns with regulatory requirements and industry best practices, with the primary objective of maintaining compliance and effectively managing financial crime risks.
  • Oversee the end-to-end sanctions screening process, ensuring timely and accurate screening of all transactions and customers against applicable sanctions lists.
  • Develop, implement, and continuously improve policies, procedures, and systems related to sanctions screening, ensuring compliance with local and international regulations.
  • Conduct regular assessments of the sanctions screening framework to identify gaps and implement enhancements to improve effectiveness and efficiency.
  • Collaborate with technology teams to optimize sanctions screening tools and leverage advanced analytics and automation to enhance detection capabilities.
  • Provide expert guidance and training to team members and stakeholders on sanctions compliance, screening methodologies, and best practices.
  • Lead investigations into potential sanctions alerts and violations, ensuring thorough documentation and reporting of findings to senior management and regulatory bodies.
  • Prepare and present comprehensive reports on sanctions screening activities, including metrics on alerts, investigations, and compliance performance, to senior management.
  • Foster strong relationships with internal and external stakeholders to promote a collaborative approach to sanctions compliance and risk management.

 

Qualifications

 

  • Bachelor’s degree in Finance, Business Administration, or related field; relevant certification (e.g., CAMS) preferred.
  • 10-15 years experience in sanctions screening, compliance, or risk management within the banking or financial services industry.
  • In-depth knowledge of sanctions regulations, including OFAC, UN, EU sanctions, and relevant regulatory frameworks.
  • Exceptional analytical skills with a keen attention to detail, enabling effective assessment of complex information and risk scenarios.
  • Proficiency in sanctions screening systems and tools, as well as advanced skills in Microsoft Office Suite (Excel, PowerPoint, etc.).
  • Strong communication and interpersonal skills, with the ability to engage effectively with diverse teams and stakeholders.
  • A proactive and strategic mindset, with a proven ability to identify compliance challenges and implement innovative solutions.
  • Ability to work independently and manage multiple priorities in a dynamic and fast-paced environment.

 

Primary Location

: Singapore

Job

: Payment & e-Banking

Organization

: Payment Operations

Schedule

: Permanent

: Full-time

Job Posting

: 23-Jan-2025, 8:35:09 AM

Tagged as:

About OCBC Bank

OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

OCBC and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

OCBC’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include about 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.

OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.

OCBC's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.