CDD Onboarding Specialist, Private Bank

Key responsibilities

Key Responsibilities:

Client Onboarding and Due Diligence

• Ensure the comprehensive, punctual, and high-quality evaluation of new client onboarding requests, including account approval.
• Provide guidance to the front office and colleagues within the team regarding client onboarding issues, such as deficiencies in KYC information and documentation.
• Independently conduct thorough reviews, encompassing plausibility checks and the verification of Clients’ Source of Wealth and source of funds.
• Evaluate and approve new business relationships with Independent Asset Managers, Referral Intermediaries, and counter parties.
• Collaborate closely with key stakeholders involved in the onboarding process, including Relationship Managers, Team Heads, Market Heads, Compliance, and other bank colleagues to ensure a seamless onboarding experience.
• Offer training to team members and front-office colleagues on KYC AML matters.
• Assist the team lead or functional head in tasks related to client onboarding and post-client onboarding activities, acting as a deputy as required.
• Address queries and clarifications resulting from internal, external, statutory, or regulatory audits.
• Identify gaps and implement appropriate controls, including system and process enhancements to meet current and future regulatory requirements in a rapidly evolving AML landscape, in accordance with industry best practices.

Client Reviews

• Conduct reviews of existing clients to ensure the accuracy of their biodata.
• Manage alerts generated from periodic screening of the bank’s customer database.
• Periodically review KYC and CDD information of existing relationships, especially higher-risk relationships and financial intermediaries.
• Identify and investigate suspicious activities, prospects, or clients, and make recommendations to senior management for filing appropriate suspicious transaction reports with relevant authorities.
• Investigate suspicious transactions identified during periodic reviews.
• Collaborate with relationship managers and business compliance managers to address issues and deficiencies identified during reviews.
• Update and enhance periodic review processes.
• Provide guidance to team members conducting onboarding and periodic reviews.

General

• Support Global Front Line Risk and Control by addressing assigned matters in line with the bank’s overall priorities.
• Collaborate with other bank colleagues to facilitate remediation and other projects as needed.
• Prepare management information reports based on agreed-upon requirements.
• Organize meetings with Front Office and conduct focus group training to align front office practices with established procedures.