Anti-Money Laundering - Associate
The AML BU CoE department provides a Customer Identification Program (CIP) and Customer Due Diligence (CDD) service to State Street's Business units spread across globally. The department is tasked with procuring Client Identification document, validating the requirements as per the requirement matrix. The team's primary responsibility is to support the Business Units in onboarding the customers as per the agreed timeline and periodically review the existing customers as per their Risk Rating. The team will collaborate with FIU, Compliance, all Lines of Business Units and KYC Shared Services in order to comply by the AML policies and requirements.
The BU CoE team, which is based in Hyderabad & Bangalore, India, is responsible for collecting and analyzing client data, documents and publically available information on State Streets' new and existing clients to comply with firm's AML/KYC Policy and Procedures. The team is, further, responsible for ensuring that all existing clients of State Street are renewed in accordance with firm's AML/KYC Policy and Procedures. RESPONSIBILITIES :
Responsibilities will include:-
REQUIREMENTS : Education and Experience
- Validating CIP/CDD documentation provided by the business independently from various websites and vendors and requesting missing documentation
- Reviewing and tracking CIP/CDD documentation for all customers in line with applicable KYC Policies & Procedures
- Completing the necessary forms and documentation required to support CIP/CDD as fully auditable
- Notifying local management of operational issues.
- Completing CIP assessment using corporate compliance tools and methods prior to account opening and on an on-going basis
- Engaging with State Street Shared service units and providing updates and the necessary reports to KYC managers for use in reporting to Compliance and business oversight teams
- Graduate and above
- Knowledge of KYC is essential with at least 1-2 years' experience
- Accuracy in processing in line with SOPs with minimum errors
- Flexible to work in shifts and extended working hours if required.
- Possessing good understanding on end-to-end KYC process is mandatory.
- Ability to perform KYC reviews on different entity types, such as Trusts, Hedge Funds, regulated entities, SPV etc.
- Should have worked on World Check, Lexis-Nexis and negative searches.
- Understanding of complex ownership structure.
- Ability to communicate confidently, efficiently and clearly in both written and verbal forms.
- Strong time management skills and flexibility in re-prioritising tasks
- Good Microsoft Excel and Word skills
- Ability to perform effectively to strict deadlines
- Must be detailed oriented and analytical and should possess strong customer service skills.
- Display good team player spirit