KYC Onboarding Officer- Trade Finance
Job Type : Permanent, Full Time
Salary : £45000 – £55000/annum plus banking benefits
Our client, a wholesale bank, is seeking a KYC Onboarding Officer to join their team on a permanent basis. This is a Hybrid role, 2 days in the office and 3 working from home.
The role will involve client on-boarding, client risk assessment, client monitoring/investigations, reporting and correspondence, testing compliance systems, compliance project support and advice and guidance.
Responsibilities include (but not limited to):
* Undertaking client due diligence checks and determining the nature and level of due diligence required to comply with financial crime compliance regulations.
* Facilitating the onboarding process for new customers, guiding through procedures and requirements.
* Validating KYC documentation.
* Verify the identity of new or existing customers and examining different type of documents and information.
* Using databases, external and internal, and conducting research as part of this due diligence.
* Document review to confirm their legal authenticity
* Customer documentation translation to English with annotations
* Maintain accurate and updated customer records and information in the database
* Check that all appropriate information is contained in the KYC review of documents to meet all regulatory and legal requirements
* Ensure compliance with AML/KYC regulations, Internal policies, and procedures
* Performing customers and related parties’ screenings for sanctions, PEP and adverse media, searching for potential risks or discrepancies, reviewing, assessing and escalating if necessary
* Report any suspicious or unusual activity to compliance.
* Supporting the Business in ensuring AML risk assessments have been properly completed.
* Collecting and submit all customer information completing the customer risk rating assessment for evaluation and categorize their level of risk
* Identification escalation and completion of any adverse media report write up regarding the bank’s clients for senior management.
* Support on updating Financial Crime policy/procedures and address any changes in procedures
* Stay updated on regulatory changes and industry best practices related to KYC procedures
* Liaise with customers regarding doubts, issues, or other business matters, to clarify any discrepancies or request additional information when necessary
* Collaborate with other departments to fulfil information on customer records.
* Update the client risk rating assessment for other departments based on their feedback about their clients.
* Involvement in system testing with regards to customer and accounts by identifying weakness or inefficiency in systems, suggesting enhancements and possibilities from a customer experience perspective.
* Prepare customer periodic review, including gathering of data information, review, checking customer activity, documentation, and records, to complete assessment for Customer relationship manager and compliance review and sign off.
* Assessing risks associated with customer, products, customer behaviour trends, review of customer accounts, to prevent money laundering and terrorist financing and update the CRRA accordingly.
* Participate in remediation on any missing documentation or assessment that is not compliant with regulation
* Assisting the MLRO in producing reports for senior management.
* Attend GMM and ARC to produce minutes.
Skills:
Solid experience and understanding of the AML requirements for a wide range of client types including: Private Individuals, Trusts, Charities and Corporate entities with both simple complex ownership structures in high-risk jurisdictions.
Solid experience of applying a risk-based approach when analysing the profile of a prospective client and deciding what CDD requirements should be applied.
Clear understanding of the various financial crime and reputational risk-factors to consider when onboarding a new client.
Experience in compiling and summarising escalations (PEP sign off, Adverse Media sign off, High Risk client sign off) for Senior Management review / periodic review. The successful candidate must be able to demonstrate the ability to carry out research, analysis and summarise the results of their findings in a clear manner.
The successful candidate must have strong written and verbal communication skills and be comfortable engaging with internal stakeholders of all levels as well clients.
Detail oriented with the ability to multi-task, prioritize work assignments, communicate effectively with internal staff and clients, and complete assignments accurately and in a timely manner.
For more information, please send CV to Sonia Smith quoting job reference 16673SS
