This position within the Post Onboarding Review team in Client Onboarding & Lifecycle Management (“COLM”) is primarily responsible to support the Bank’s continued AML/CFT monitoring and reviews. The successful candidate is expected to have a basic understanding of AML and SOW principles and be able to analyse situations to identify gaps and risks in KYC information and documentation, and to be able to work well within a team and yet take initiative and ownership over his/her own area of work.
Roles & Responsibilities
- Review and approve changes to client’s KYC information which includes change in account structure, change in ultimate beneficial ownership, increase in declared net worth etc.
- Identify and assess risk issues relating to clients during the review and provide appropriate resolution and decision making.
- Advise Front Office on requirements pertaining to KYC documentation for existing clients arising from changes in ownership or account structure
- Monitor the Team’s mailbox to ensure enquiries from Front Office are promptly handled or escalated
- Collate and prepare statistics for periodic status updates to Front Office and Senior Management
- Liaise with Relationship Managers or Business Compliance Managers on issues pertaining to outstanding cases
SOW Uplift Project
- The incumbent will be responsible to ensure that the standards of SOW corroboration of High-Risk clients are uplifted to prevailing standards. This includes reviewing the client’s source of wealth to ensure plausibility and to check for appropriate level of corroboration and evidence to identify the client’s original source of funds and wealth growth.
- Perform corroboration and plausibility analysis on the SoW write-up in accordance with the bank’s SoW guidelines.
- Review information from multiple sources to ensure complete and consistent information across the clients’ profile.
- Follow up with the Relationship Managers where additional information or clarifications are required and support them by ensuring the final write-up meets the internal requirements.
- Accurately document your plausibility assessment, with the supporting documents into the template and archive within the system.
- Provide transparency and oversight to senior management to ensure cases are reviewed and completed in a timely manner and any issues are identified early.
- Other administrative duties as assigned by the Supervisors or Team Head
Requirements
- 2 years of experience in similar function. Private banking exposure is preferred but not a must.
- Strong attention to detail and controls, and can grasp new ideas and concepts quickly
- Ability to work under pressure, and manage workload and deadlines effectively
- Sound interpersonal skills and relationship building abilities
- Effective verbal and written communication skills
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Competent in Microsoft Office tools, particularly Excel
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University degree in Accountancy, Finance, Business Administration or equivalent, or higher education
