KYC/AML Due Diligence (Must speak Spanish)

Company Geneva Consulting Group
Reference 482671794
Sector Other
Town/City New York
Locations New York , USA
Job Type Permanent
Date Posted 2nd Aug


Job Description

Job Description Business: Global Banking & Markets
Role Title: Associate Client Manager (CMEDD)
Role Purpose - Performing Enhanced Due Diligence risk assessments and AML calls for correspondent bank customers.

Client Operations - Client Management Group Overview
The Client Management Team is responsible for supporting Global Banking Relationship Managers in global client onboarding and the on-going management & oversight of due diligence renewal activities through the full client lifecycle on behalf of Global Banking & Markets both as a customer group and product provider.
CMEDD role specifics:
  • To lead and perform enhanced due diligence on third party correspondent banks and make appropriate decisions and recommendations in line with the correspondent bank risk appetite statement.
  • Review and analyze data and intelligence on dedicated high-risk countries and regions, focusing on the political and regulatory environment.
  • Review and analyze transaction activity of the customer.
  • Schedule and conducts EDD call with customers and internal stakeholders (FCC and FIG GRBs/RM's).
  • Prepare and sign off of EDD reports.
  • Track post visit action points and ensure that they are completed accurately and in a timely fashion.
  • Working closely with FEDD Team.
Principal Accountabilities: Key activities and decision-making areas
Typical KPIs and Targets
Leadership & Teamwork
  • Lead by example by ensuring own portfolio of cases are managed appropriately and also providing guidance to Case Management Support or where applicable, to junior colleagues.
  • Provide support and direction to Client Management Support (this includes off-shore or near shore colleagues)
  • Liaise with business area/Product Partners as needed and provide advice on CDD requirements
  • Support the Client Management Heads by ensuring activities and daily tasks are conducted in a way that ensure alignment to the longer-term strategy of the Banking Middle Office
  • Support the Sector Coverage Teams in preparing for various risk, control or Governance committees
  • Support the Client Operations Change program
  • Ensure all sector specific Client Management Support understand their pipeline, objectives, and priorities and deliver accordingly.
  • Lead by example - all cases managed appropriately; professionalism when dealing with all stakeholders.
  • Delivery focused.
Operational Effectiveness & Control
  • Evaluate the agreed Service Levels relating to CDD renewals or services provided by Client Operations and ensure these are managed across all functions and any external service providers
  • Provide management information that demonstrates that status of the renewal processes as measured against the defined standards, clearly articulating gaps and issues. The Client Manager is accountable for ensuring the right level of MI and reporting is delivered to meet the requirements of client, business and internal stakeholders
  • Highlight problems areas and blockages and use initiative to suggest ideas to change and improve processes.
  • Strong emphasis on the maintenance of an effective and rigid control environment ensuring quality and adherence is never compromised.
  • Support the RM and Client through the conversion to the new Global AML standard including having a clear understanding of the additional due diligence requirements and how they will impact the client and support clients and functional SME's in the gathering of this information
  • Support business and renewal delivery teams to build alignment to the standards and to introduce the required controls and measures
  • Adhere strictly to compliance and operational risk controls in accordance with company and regulatory standards, policies and practices - at the agreed standards. Where applicable, report control weaknesses, compliance breaches and operational loss events.
  • Ensure compliance with all relevant internal instructions (FIMs, GSMs, circulars) and external regulatory requirements, including the management of operational risk and adherence to the Group's standards of ethical behavior
  • Managing client KYC portfolios by taking ownership of the renewal process, as well as interactions with KYCs, Relationship Managers and the client to drive resolution of KYC cases.
  • Ensure all regulatory assessments and CDDs have been conducted against the client according to local and global requirements and in accordance with FIMS
  • Thorough understanding of all controls and identification of process / control improvements.
  • Understating of any impacting KRIs and ensure controls are in place to deliver work to the expected standard
  • No repeat failings on control related incidences.
Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities)
  • Working effectively with key stakeholders using strong influencing skills to ensure mutually satisfactory resolution of key issues against extremely tight deadlines and aggressive regulatory expectations.
  • Working in a pressurized, time-sensitive environment.
  • Keeping the RMs and Sector Coverage teams abreast of changes to process as a result of changes to either regulatory or Bank Policy requirements to ensure that we are fully mitigated against risk, including reputational along with ensuring no issues are encountered during internal or external (regulatory) audits
  • Providing support and guidance to KYCS production and other functional delivery teams to ensure that internal SLA's with the business are met - there is a clear expectation that relationship with the onboarding delivery teams will need to become more formalized through the definition and usage of clear service levels
  • The role plays a key part in joining together the priorities and requirements of the business with the availability of internal and external service providers (e.g. KYCS, Credit, etc.). The role holder will have to build deep knowledge about the client and work closely with the business and functional delivery teams to ensure priorities are aligned with resource availability and ensure issues are resolved in a timely manner
  • Building trust and strengthening the relationship with the Sector Coverage teams
  • The job holder will require the ability to assess information from various sources to ascertain risks.
  • Discretion and high level inter-personal skills will be required.
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
The Banking Middle Office Client Manager plays a central role in managing client onboarding and renewals for GBM - operating in a dynamic, pressurized, time-sensitive environment, the Client Manager interacts with a wide range of internal and external stakeholders which includes the client, Relationship Managers, Credit due-diligence, Client Documentation Group, KYC & Client Due-Diligence, Entity & Account Maintenance and product partners to ensure all requirements are understood to support key BMO services.
The ability to work effectively across the business lines and geographies is also critical, liaising with product, risk compliance and in country stakeholders. Awareness of the changing risk culture across Banking is important. Good communication skills are required to ensure that CMEDD achieves its aims of developing the correspondent banking business within changing parameters.

Management of Risk (Operational Risk / FIM requirements)
  • To abide by the Group Policies by containing compliance risk in conjunction with the relevant Compliance Department. The term compliance embraces all relevant laws, rules and codes with which the business has to apply.
  • To continually re-assess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures, management restructures, and the impact of new technology in conjunction with the donor Group companies.
  • Client Manager must take ownership of the entire on-boarding process and instructions delivered to downstream support functions must be decisive. Extra care must be taken with complex clients and products to ensure no gaps are created in the validation and verification of data in the on-boarding process
Observation of Internal Controls (Compliance Policy / FIM requirements)
  • Maintains internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
Knowledge & Experience / Qualifications (For the role - not the role holder. Minimum requirements of the role.)

Knowledge and skills
  • Strong knowledge of AML/KYC regulatory requirements
  • Thorough understanding of legal structures and activities type of correspondent banks and others (including financial institutions, corporate organizations, funds, SPVs etc.)
  • Strong analytical skills
  • Excellent written and verbal communication skills
  • Excellent planning and organizing skills
  • Proficiency in using MS Office software
  • Good abilities in use of internet search engines
  • Fluent in English (written and spoken) and a local language for location where English is not the preferred Business Language
  • Fluent in Spanish as an asset
  • Solid and proven relevant work experience within the banking / financial services industry.
  • ..... click apply for full job details

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