Role Overview
KYC role that will ensure new customers are onboarded in compliance with UK regulatory standards. Executing Customer Due Diligence (CDD), managing customer data, and collaborating with internal and external stakeholders to maintain high standards of compliance and customer satisfaction.
Responsibilities
- Customer Due Diligence (CDD): Perform CDD on all new customers, ensuring that the documentation collected complies with UK regulatory and legal requirements. This includes identifying and verifying Know Your Customer (KYC) documents.
- Risk Assessment: Conduct risk assessments and reviews for both new and existing customers, escalating any key risks or Anti-Money Laundering (AML) red flags according to internal policies.
- Compliance Adherence: Ensure adherence to internal Simplified Due Diligence (SDD), CDD, and Enhanced Due Diligence (EDD) requirements, addressing any gaps by liaising with stakeholders.
- Record Maintenance: Maintain up-to-date customer CDD files and spreadsheets, and populate customer data in internal systems as required.
- Screening and Evaluation: Carry out customer screening activities, including evaluating matches with Politically Exposed Persons (PEPs) and taking necessary actions under UK Money Laundering Regulations and Sanction Screening legislation.
- Reporting: Prepare and submit monthly reports on customer relationships to the Management Committee and quarterly reports to the Risk and Compliance Committee.
- Additional Duties: Perform any ad-hoc duties as assigned by the line manager.
Skills and Experience Required
- AML/KYC Expertise: Strong understanding and experience in Anti-Money Laundering (AML), Terrorist Financing, KYC, SDD, CDD, EDD, and Sanctions within the UK financial services and regulatory environment.
- Experience: Minimum 5-7 years of relevant experience in a similar role within a corporate bank in London.
- Corporate Structure Knowledge: Demonstrable knowledge of complex corporate structures and the ability to advise on KYC/CDD/EDD requirements for both direct clients and related parties.
- Regulatory Understanding: In-depth knowledge and application of SDD, CDD, and EDD requirements under UK regulations and Joint Money Laundering Steering Group (JMLSG) guidance.
- Decision-Making: Ability to discern when to make independent decisions and when to escalate issues to a line manager or the second line of defense.
- Proactivity and Collaboration: Proactive in reviewing policies, procedures, and working practices, with a collaborative approach to implementing necessary changes in consultation with the second line of defense.