KYC Due Diligence Specialist
KYC Due Diligence Specialist
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Job Description
GENERAL DESCRIPTION OF POSITION
The Know Your Customer (KYC) Due Diligence Specialist is responsible for the identification of applicable risk factors found during the onboarding of new customers or found during ongoing due diligence of existing customers including name screening of internal/external Watch Lists. This Specialist is tasked with making determinations associated with the appropriateness of risk factor designation and the accuracy of submitted questionnaires forms and/or documentation related to customer identification due diligence and customer risk.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Maintains continuous awareness of policy/procedure updates resulting from changing regulatory requirements and adheres strictly to the Code of Ethics and all BSA/AML information security and confidentiality requirements without exception. This duty is performed daily about 15 of the time.
2. Supports frontline personnel with the onboarding of new customers or the updating of existing customer information and escalates more complex due diligence scenarios to the Team Lead; communications are managed in both verbal and written form via callin line or electronic messaging. This duty is performed daily about 15 of the time.
3. Reviews incoming due diligence questionnaires to ensure appropriate risk indicators are identified and imported into the risk rating system. This duty is performed daily about 20 of the time.
4. Processes due diligence Alerts generated by the CDD/EDD behavior risk level and risk segmentation agents of the automated risk rating system; escalate customers requiring research to the Team Lead. This duty is performed daily about 20 of the time.
5. Supports the Due Diligence Team participation in BETA opportunities presented within the customer riskrelated systems. This duty is performed daily about 10 of the time.
6. Processes Watch List Alerts including OFAC generated by the namescreening system and communicate close matches where appropriate. This duty is performed daily about 10 of the time.
7. Assists with certain user tests for updated or new risk scenarios as assigned by management. This duty is performed as needed about 10 of the time.
8. Completes required BSA/AML training and other compliance training as assigned. This duty is performed quarterly.
9. The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily.
10. Perform any other related duties as required or assigned.
QUALIFICATIONS
To perform this job successfully an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge skill and/or ability required.
EDUCATION AND EXPERIENCE
Broad knowledge of such fields as accounting marketing business administration finance etc. Equivalent to a four year college degree plus 12 to 18 months related experience and/or training or equivalent combination of education and experience.
COMMUNICATION SKILLS
Ability to read and understand documents such as policy manuals safety rules operating and maintenance instructions and procedure manuals; ability to write routine reports and correspondence. ability to effectively communicate information and respond to questions in persontoperson and small group situations with customers clients general public and other employees of the organization.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts interest commissions proportions percentages area circumference and volume. Ability to apply concepts such as fractions ratios and proportions to practical situations.
CRITICAL THINKING SKILLS
Ability to define problems collect data establish facts and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
REQUIRED CERTIFICATES LICENSES REGISTRATIONS
Not indicated.
PREFERRED CERTIFICATES LICENSES REGISTRATIONS
Not indicated.
SOFTWARE SKILLS REQUIRED
Intermediate: Spreadsheet Word Processing/Typing
Basic: 10Key Accounting Alphanumeric Data Entry Contact Management Database Presentation/PowerPoint
WORKING CONDITIONS
Normal working conditions as found within an office setting wherein there is controlled temperature and a low noise level plus a minimum of distractions.
ENVIRONMENTAL CONDITIONS
The following work environment characteristics described here are representative of those an employee encounters while performing essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
PHYSICAL ACTIVITIES
The following physical activities described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.
Semirepetitive low physical. Semirepetitive type work which requires periods of concentration for varied time cycles as prescribed by the tasks.
While performing the functions of this job the employee is continuously required to sit use hands to finger handle or feel talk or hear; occasionally required to stand walk reach with hands and arms stoop kneel crouch or crawl. The employee must occasionally lift and/or move up to 25 pounds; frequently lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision; and color vision.
ADDITIONAL INFORMATION
Twelve 12 to eighteen 18 months of related experience and/or training
Qualifying experience must have been continuous and recent preferably within a financial institution.
Bachelors degree focus desirable for position: Criminal Justice Banking Compliance/AML Specialized Political Science Mathematics or Economics
Experience working with customer risk rating models inclusive of demographic transactional and behavioral scoring methodologies is preferred
Required Experience:
Unclear Seniority
Employment Type
Full-Time
