Associate KYC Analyst - Business Support Unit

Job title: Associate KYC Analyst

Location: Mumbai

Experience: 1 to 5 yrs

CTC: 12 to 15 LPA

Job Purpose:

The Business Support Unit is an AML/KYC support/control function within the Institutional Clients Group responsible for the preparation, development, due diligence and approval of the electronic KYC Record and supporting appendices in partnership with Relationship Management and Compliance teams.

Job Background/Context:

- Every new and existing client of company's Institutional Clients Group is required to have a KYC Record before an account can be opened. The KYC Record outlines important information about the customer.

- There is a requirement to conduct research for company information from both internal and external sources, documenting specifics required to satisfy regulations. There are differing requirements depending on where the account is being opened. There is a constant need for KYC Record review as there are periodic renewals of the required due diligence carried out based on the risk of the client.

- The BSU owns the end to end KYC process from creation/renewal to approval of the KYC Record and supporting local country appendices.

Key Responsibilities

- Create the KYC Record in the KYC system sourcing information from internal and external sources by the agreed deadline

- Proactively interact with relationship management teams and compliance to update system with information until final approval of KYC Record

- Review information from internal and external sources for company news (Firm website, Regulatory websites, Company website, Dun & Bradstreet, Google etc.)

- Validate the information within the KYC Record and CIP document to ensure completeness and accurate (Company/Entity Formation documents, Ownership, Management, etc.)

- Complete KYC Record incorporating local regulatory requirements/Global BSU Standards and policies

- Take responsibility for KYC Record and associated documentation completion from initiation to approval

- Maintain BSU tool current and be able to demonstrate work carried out

- Report workflow progress to supervisor

- Meet agreed daily targets for KYC Record review and completion within agreed Service Level Agreement timeframes

- Update workflow database regularly throughout the day

- Highlight any discrepancies to Senior Case Managers, Control Team and Section Managers

- Escalate any negative news and high risk cases to RM/PAM/AML Compliance department

- Assist in departmental projects as required

Roles and Responsibilities

Operational:

- Responsible for the due diligence and record creation in the system ensuring highest level of KYC Record quality

- Act as the country coordinator (or participate actively when the SCM is the country coordinator - a) coordinate periodic country calls; b) liaise with compliance; c) be the primary contact for country management for KYC related matters

- Address feedback from SCM to ensure continuous performance improvement

- Ensure initiation email is sent and followed up on as per the prescribed guidelines

- Proactively interact via phone/email/IM with relationship management teams and compliance to update system with information

- Develop strong working relationships with the RM to support business

- Research and collate additional relevant information from internal and external sources to complete KYC Records

- Validate the information within the KYC Record to ensure completeness and accuracy (Company/Entity Formation, Ownership, Management, etc.)

- Perform name screening of entity, directors, beneficial owners, etc. and its disambiguation, as appropriate to client type

- Complete KYC Record Appendix as per local regulatory requirements

- Meet agreed daily targets for KYC Record completion, quality, productivity and customer service

- Highlight any discrepancies to Senior Case Managers and work with the RM,, Compliance, and BSG, EDD and FIU (as applicable) to resolve

- Escalate any negative news and high risk cases to RM/AML Compliance/EDD (as applicable)

- Conduct, validate and rule out NESS searches or escalate to compliance

- Follow expediter process flow and escalate to SCMs, wherever applicable

- Monitor their pipeline of work daily (e.g. coming due) and ensure actioned as per agreed timelines

Communication/Reporting:

- Regularly keep SCMs informed of all significant updates through morning huddles, email etc.

- Update BSU/FCB database daily and report progress to supervisor

- Accurate time tracking

Knowledge/Experience:

- 1 - 5 years- experience in banking, finance or law

- Experience in control/risk or Compliance (AML/KYC) function (an advantage)

- Knowledge of local regulatory KYC/AML requirements

Meghna Bhalerao