B4465 Enhanced Due Diligence - VP 8/18/2016
New York, NY
JOB DESCRIPTIONAPPLY YOUR SKILLS AND QUALIFICATIONS WILL INCLUDE
* o Basic Qualifications
* o Bachelor's Degree
* o 4+ Years experience in financial services or equivalent professional environment, with detailed understanding of the Banking Industry - key providers, client groups and products, especially focussed on AML/KYC processes and impact for clients and colleagues.
* o 4+ Years of experience of managing client/senior stakeholders relationships - in particular balancing AML rigour with positive client experience
* o Preferred Qualifications
* o Strong analytical skills with good attention to detail and ability to draw conclusions from complex and contradictory information, and present recommendations in a simple and coherent manner
* o Exceptional written and verbal communication skills
* o Driven, with a focus on client-driven solutions, strategy setting and decision making
* o Ability to manage and influence senior stakeholders at clients as well as other parts of the bank (such as Financial Crime and KYC Ops), demonstrating diplomacy and working to reach positive client and colleague experience
* o Enquiring and determined with the ability to challenge and question stakeholders
* o Demonstrates effective planning and organising with an ability to execute actions at pace
* o Team player and relationship builder- with a strong ability to collaborate and effect positive change
* o Extensive experience and comprehensive understanding of delivering complex analysis and recommendations - in particular with experience in AML/KYC and/or Corporate Banking
* o Full understanding of economic, market and customer trends and development
* o Comprehensive business knowledge - in order to understand the markets in which the relationship teams' customers operate and the business issues they are likely to face
* o Comprehensive understanding of control environment - including risk management and related processes
* o Language skills would be beneficial, although not essential, specifically Spanish.
OVERALL PURPOSE OF ROLE:
* o Leading and facilitating Enhanced Due Diligence (EDD) reviews of Correspondent Banking Relationships maintained by the Corporate Bank.
* o Identifying and understanding the AML/ Sanctions/ABC Risk associated with Corresponding Banking relationships is at the heart of this role.
* o Analysing the findings of the EDD reviews and making recommendations to maintain or exit a relationship or undertake further EDD to mitigate risks identified.
* o The role holder will work in partnership with Front Office relationship teams and Know Your Customer CDD delivery teams to complete high quality EDD for high risk clients. They will operate at a senior level: delivering reports that will allow senior management within the business to make decisions on On-Boarding and maintaining Correspondent banking clients ; taking key presenter roles at Governance committees within the Business ; and representing Client within external Financial Crime Compliance communities.
KEY ACCOUNTABILITIES AND SKILLS REQUIRED:
* o EDD delivery and client engagement - 50%
* o Subject matter expert on EDD, initially for Correspondent Banks, and will proactively engage with Relationship Directors and clients on managing AML risk.
* o Responsible for conducting face to face meetings and telephone calls with clients to gather and investigate EDD information. External stakeholders likely to be senior - MLRO/ Head of AML/ Head of Compliance. Such meetings will involve negotiation because the role holder will be requesting and scrutinising sensitive client information whilst balancing the need for a positive client experience.
* o Deliver risk assessment-orientated EDD by reviewing and analysing data gathered in meetings, from public sources and Clients internal data. Report conclusions by compiling EDD reports and delivering recommendations. EDD reports and presentations will need to convey complex messages succinctly and role thus requires high standard of written and verbal communications. Expected to challenge and investigate the due diligence undertaken by KYC Operations.
* o In coordination with the Relationship Director, who ultimately owns the AML risk, deliver recommendations on how to proceed with the client relationship (continue to on-board, proceed to exit), escalating where necessary. Will include presenting to the Head of Corporate Banking Financial Crime, Local Financial Crime and Head of FI Coverage / Regional Heads within high risk committees as necessary.
* o Intelligence gathering - 20%
* o Review CDD where further investigations are required (i.e. PEPS), applying sound judgement given the information available and accounting for the wider client context and external environment
* o Undertake trigger analysis, ensuring necessary steps are taken to initiate, investigate and close these as they arise.
* o Expected to be an innovative thinker with regards to EDD intelligence, with awareness of wider regulatory impacts and changes in the sectors in which our clients operate
* o Design and process improvement - 20%
* o Support on EDD design improvements and process structuring, such that the team operates efficiently. Expected to be proactive and generate forward thinking solutions
* o Engage with change programmes to enable improvements such as testing processes and running pilots. Role holder would be expected to account for the wider picture across the Bank when supporting improvements, and would be responsible for generating creative ideas with regards to optimising and embedding EDD
* o Team development - 10%
* o Contribute towards Corporate Banks' EDD strategy, in particular driving a culture of change by acting as a SME, coaching and guiding relationship teams on managing their AML risk
* o Support the EDD Director in setting the sector-wide strategy for EDD
* o Attend and present at relevant committees as necessary
* o Share best practice with other members of EDD as well as colleagues in relationship teams
* o Support expansion the team's scope to cover all high risk clients, potentially by developing sector expertise
* o Key Performance indicators
* o Delivery of EDD strategy objectives achieved across Customer, Company and Colleague metrics.
* o No adverse regulatory findings.
* o Quality of client information improved.
* o Achievement of personal objectives, as agreed with line manager.
* o Adherence to the Values, embedding those behaviours amongst the wider team.
* o STAKEHOLDER MANAGEMENT AND LEADERSHIP.
* o The role holder will be required to manage senior stakeholders both internally and externally
* o DECISION MAKING AND PROBLEM SOLVING.
* o Analysing complex issues and providing recommendations will be a key to successful execution of responsibilities of the role.
* o RISK AND CONTROL: ALLCLIENTS COLLEAGUES HAVE TO ENSURE THAT ALL ACTIVITIES AND DUTIES ARE CARRIED OUT IN FULL COMPLIANCE WITH REGULATORY REQUIREMENTS, ENTERPRISE WIDE RISK MANAGEMENT FRAMEWORK AND INTERNAL CLIENTS POLICIES AND POLICY STANDARDS.