Customer Due Diligence

View full description

Requirements:

• 7+ years of prior experience in Financial Crimes Compliance, experience at a financial institution is required
• Understanding of Financial Crime, AML and terrorist financing trends and typologies
• Expert-level understanding and execution experience related to Customer Identification and Verification requirements
• Expert-level understanding and execution experience related to the AML due diligence and enhanced due diligence activities associated with opening commercial bank accounts
• In-depth knowledge of AML laws and regulations, including the Bank Secrecy Act (BSA), the USA PATRIOT Act, and OFAC requirements
• Strong analytical and problem-solving skills
• Excellent communication and interpersonal skills
• Attention to detail and a commitment to accuracy
• Familiarity with FBO accounts, third-party senders, non-bank financial institutions, and/or similar third-party money transmission use cases preferred.

Responsibilities:

• Further enhance the Bank’s Customer Identification and Verification processes and controls for retail and commercial banking customers, including fintech relationships
• In coordination with FCC and other first and second-line stakeholders, review and address any manual reviews generated by onboarding tools
• Further enhance business and FCC-led due diligence processes and controls for retail and commercial banking customers, including fintech relationships
• Execute the collection, review, and assessment of due diligence consistent with the Bank’s standards and customer risk ranking methodology
• Perform onboarding Enhanced Due Diligence (“EDD”) collection for applicable customers including the completion of Onboarding High Risk EDD Reviews and ongoing Periodic Reviews
• Collaborate with other departments, including business units, Compliance, Legal, and Third Party Risk Management, to integrate Due Diligence and Enhanced Due Diligence efforts into the overall compliance framework
• Communicate effectively with external law enforcement agencies, regulators, and other relevant entities as needed
• Work collaboratively with the Bank's BSA Officer, AML Operations, Due Diligence Advisory colleagues, and Chief Compliance Officer on improving overall KYC program execution
• Stay up-to-date with evolving AML laws, regulations, and industry best practices
• Identify opportunities for process improvement and implement enhancements to the KYC program
• Assist the BSA Officer with KRI/KPI reporting related to Due Diligence and Enhanced Due Diligence operations
• Develop and communicate ongoing customer risk information to internal and external stakeholders
• Highlight key trends, risks, issues, and opportunities for enhancements for the KYC program