Commercial KYC Analyst
Job Code/ Req#:
A major financial institution located downtown Chicago has an immediate need for a Commercial KYC Analyst to onboard new clients, as well as updating customer data for existing profiles to create a composite picture of a client’s banking profile and history. This group works directly with the Commercial Banking, TPS Sales and the AML risk office to collect the appropriate data and use this to assess customer risk.
Monitoring and Reporting (85%):
- Respond to onboarding and/or update requests from Commercial Banking and TPS Sales teams.
- Gather required customer AML data and enter it into the AML book of record system to either create a new or update an existing KYC Checklist.
- Review deal files, third party websites and system information to augment data, scanning and storing screenshots or documents as required.
- Adjudicate hits on any system name searches by consulting with internal OFAC Unit.
- Work with the U.S. AML Office High Risk Unit to assess and update high- risk ratings as needed.
- Work with Commercial Banking and TPS Sales teams to obtain RM and TPS review and approval of all AML data.
- Ensure Livelink folders are accurately maintained, scanning all current information including final KYC checklist, and all associated additional client documentation.
- Complete clients’ AML annual reviews which include review of all current client information on all available systems, drafting a revised KYC Checklist based on that information, and requesting the RM and TPS Sales representative to review and approve each draft.
- Respond to and provide day-to-day processing of all requests for an assigned market to provide the expected level of customer service and meet target dates.
- Advise lines of business regarding AML information and documentation requirements and ensure that no deals, loans or account openings move forward until required AML risk assessments and KYC Checklist have been completed.
- Recognize and escalate high-risk triggers to the appropriate area for review and decision.
- Accurately and thoroughly complete final KYC Checklist and electronic storage of all related supporting documentation such as Office of Foreign Asset Control (OFAC) results, third party website information, and client identification documentation.
- Inform lines of business when a customer is prohibited based on information provided or gathered from other sources.
- Manage several requests simultaneously, prioritizing as needed to meet promised deadlines and client demand. Review the teams’ work for accuracy and completion and escalate findings to the appropriate Team Leader.
- Maintain up to date subject matter expertise in the areas of AML and banking regulations by reviewing the appropriate reference material and completing annual compliance training courses, as required, to effectively manage risk, operational and compliance requirements.
- Apply subject matter expertise and institutional knowledge of U.S. P&C customers, products and services to adhere to banking regulations and company directives
Strategy and Change Management (5%)
- Identify any gaps, issues and best practices and raise them to the management team.
- 3-5 years of experience in a similar capacity, ideally in a FI
- Relevant experience in professional risk management or compliance
- AML and risk control expertise
- Knowledge of AML banking compliance, including transaction monitoring and banking product risk
- Institutional knowledge of products and services as well as business unit policies and objectives
- Ability to use computer applications and database management tools, including MS Office Suite
- Knowledge of credit analysis, credit management or treasury management
- Ability to work with high-level security access in a professional and ethical manner
- Ability to independently prioritize and proactively manage multiple responsibilities in a fast-paced working environment
- KYC experience
- Experience liaising with overseas team members
- CAMF designation
- Excellent communication skills, both oral and written
- Highly organized individual
- Ability to meet tight deadlines (VERY important)
- Highly flexible individual- work will vary from day to day
- Bachelor’s Degree, preferably in focal areas of finance, economics or an accounting related field
For immediate consideration, please send resume and salary expectations to email@example.com. Local candidates only. Thank you.