The Know Your Client (KYC) Operator role focuses on client onboarding (COB) and exceptions in line with regulatory standards and jurisdictions.
The KYC Operator provides regular communication to senior Bank stakeholders on changes in KYC, Anti Money Laundering (‘AML’) and Anti Financial Crime (‘AFC’) areas and ensures any changes required are implemented with minimum disruptions.
The KYC Operator also assists the Bank’s clients, managing all KYC and account opening requirements with appropriate governance and controls. They operate in an environment of strict adherence to Standard Operating procedures (‘SOP’s) and Operation Level Agreements (OLA’s) to achieve accurate and timely account opening to help execute trades.
In accordance with Anti-Money Laundering Requirements, Banks, such as Deutsche Bank AG ("DB"), are obliged to perform Know-your-client (“KYC”) reviews on all new clients they adopt. These checks and reviews are made in strict accordance with regulatory requirement and the bank’s internal policies.
The project involves verification of the Client data, performing due diligence checks on the Clients, reviewing KYC documentation performing the risk assessment of the Client, liaising with the Business/Compliance, advising on KYC requirements and signing off on new client adoptions.
Position Specific Responsibilities and Accountabilities:
Summary of essential job functions:
- Understanding the various stages of Client onboarding process including KYC, credit, AML and static set up. Relevant experience in establishing efficient ways to accurately setup and manage client static will be preferred
- Preferred prior experience / understanding the trade life cycle of any of the market products ie, FXMM, OTC, Equities, Fixed income
- Experience in SSI set up, Swift will be an added advantage
- Effective communication skills – to be able to manage relationships with stakeholders virtually.
- Ability to identify issues and provide feedback to improve quality and reduce defects
- Open minded, able to share information, knowledge and expertise with peers and team members
- Eye for detail and willingness to question current state practices
- Independent, self-motivated and a team player.
- Ability to use sound judgment to determine due diligence quality and if meets regulatory standards.
- Excellent verbal and written communication skills
- Strong analytical and problem-solving skills and organizational skills
- Recording quality issues in the client static space
- Preparation of MI on the results of the quality assurance for global consumption
- Regular communication and close looping of the results with the relevant operations team at the vendor
- Suggestion of ways to improve quality or change processes based on existing knowledge
- Highlight significant quality issues to management with suggested plans for improvement
- Interface with other stakeholders within the bank to enable better quality output
- Suggest automation opportunities to improve quality and own delivery through engagement with managers
- 7 to 13 years of relevant work experience (AML/KYC/compliance related) within corporate financial services industry, Research/Analytics role in other Banks / KPOs etc
- Understanding of Control, Compliance, Investigation/chasing functions in banks
- Familiarity AML/KYC regulations and industry guidelines (FSA, JMLSG, 3rd EU Money Laundering Directive, MiFID)
- Ability to interpret regulatory guidelines and assessing risk scores and entity types
- Ability to interpreting alerts
- Ability to identifying trends and inconsistencies
- Understanding of end to end KYC process
Communication and Reasoning skills
- Good reading comprehension and critical reasoning skills
- Good analytical writing skills
- Good communication skills to communicate at all levels, onshore and & stakeholder management
- Ability to work independently and take ownership
- Hands on experience in using internet
- Familiarity with MS Office application
- Ability in formulating search criteria and expertise in web search techniques
- Expertise on internal systems and resources
- Attention to details and quality
Logical reasoning and problem solving
- Ability to troubleshoot issues
- Ability to translate policies into routine processes
- Willingness to work in shifts
- Graduates with good academic record
- Overall experience of atleast 7 years in Banking/Financial services industry
- Good understanding of the various banking products and services specially Client Static
- Experience of working in a matrix environment, and accustomed to bridging the gap between disparate organizations and cultures.
- Good knowledge of current regulatory trends and developments
- Knowledge of reference data/client onboarding an added advantage
- Work in risk and control or similar quality related functions will be an added benefit.
Our values define the working environment we strive to create – diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.