Consultant - AML - Pune
Consultant - AML - Pune
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Job Description
About Northern Trust:
Northern Trust a Fortune 500 company is a globally recognized award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the worlds most successful individuals families and institutions by remaining true to our enduring principles of service expertise and integrity. With more than 130 years of financial experience and over 22000 partners we serve the worlds most sophisticated clients using leading technology and exceptional service.
JobTitle:ConsultantCRF Review Team
JobOverview
Seeking an experienced professional for the Consultant role in AML/KYC compliance US Wealth Management responsible for ensuring adherence to regulatory frameworks performing due diligence identifying suspicious activities and facilitating effective Individual/Institutional client onboarding and monitoring processes to mitigate financial crime risks.
KeyResponsibilities
- ConductthoroughAML/KYCreviewstoverifyClientidentityandassessthe details providedwithregulatorystandards.
- Performcustomerduediligence(CDD)andenhancedduediligence(EDD)forWealth Management clients.
- Monitorandanalyzedetailstoidentifysuspiciousbehaviorsandpotentialmoneylaunderingorterroristfinancing.
- PrepareandpresentSuspiciousActivityReports(SARs)andescalateconcernsasrequired.
- MaintainaccuraterecordsofKYCdocumentationandhaveclientonboardingdata updated inrelevantsystems.
- CollaboratewithinternalteamsincludingRiskComplianceandFrontOfficetoensureseamlessonboardingandcomplianceprocesses.
- AssistwithinvestigationsrelatedtoAMLalerts andregulatoryaudits.
- StaycurrentwithdevelopmentsinAML/KYCregulationsindustrybestpracticesandemergingfinancialcrimetrends.
- Provideguidanceandtrainingtojuniorstaffpromotingqualityandcompliancestandards.
- ParticipateinprocessimprovementinitiativestoenhanceefficiencyandeffectivenessofAML/KYCcontrols.
- Works with line management and other colleagues to ensure that the AML support team in Pune meets the required audit risk and compliance standards as determined from time to time in accordance with advised changes in processes and procedures pursuant to amendments in prevailing legislation guidance and best practice.
- Responsible for ensuring regulatory/compliance requirements are met
- Analyze monthly management information to understand where quality at an individual process team or management company needs to be addressed
- Ensure that appropriate segregation of duties controls are in place at all times
- Ability to identify risks in the process and implement controls to mitigate the. Knowledge of RCSA.
- Initiate and lead initiatives to drive productivity and capacity utilization continuously improve internal efficiency scalability and effectiveness while reducing risk within the group.
- Demonstrate strategic thinking in managing change migrations transitions and projects
- Analyze the MIS and provide quality input to the operations groups on improvement opportunity.
- To work with the team internal departments and group projects area on any allocated projects.
- To work with internal departments to evaluate and implement changes in proposed new regulations and to ensure that all requirements are met
RequiredSkillsandQualifications
- BachelorsdegreeinFinanceBusinessLaworrelatedfield;relevantcertifications()preferred.
- Provenexperience(minimum7years)inAML/KYCcompliancewithinafinancialinstitutionorrelatedsector.
- StrongknowledgeofKYCAMLlawsregulatoryrequirementsandcustomerduediligenceprocedures.
- Organizational Knowledge of Wealth management KYC process to onboard entities i.e. NGO LLC LLP Trust Funds Individual etc. AML Regulations and CIP.(business knowledge expert knowledge and external events impact) including below:
KYC Remediation
Periodic Client Review (PCR)
Customer Due Diligence (CDD)
Client Onboarding & Maintenance
U.S. Person & Entity Verification
W-9 / W-8 Documentation Check
Low Risk Rating Validation
Beneficial Ownership Confirmation
Risk-Based KYC Approach
CIP Controls
Trust & Entity Document Review
Source of Income Verification
CRM Workflow Management
Periodic Client Review (PCR)
Customer Due Diligence (CDD)
Client Onboarding & Maintenance
U.S. Person & Entity Verification
W-9 / W-8 Documentation Check
- Client Service and Quality (quality relationship building and client satisfaction)
- Administration (Anticipates needs execution planning process specialist quality seeker and time management)
- Leadership (Addresses difficult issues builds effective teams focused on goals champions new initiatives fosters development gives timely feedback and coaching Idea generator and sets challenging performance standards )
- Understand and implement principles of quality delivery.
- Accuracy and attention to detail.
- Excellentanalyticalandinvestigativeskillswithattentiontodetail.
- ProficientinusingKYC/AMLcompliancetoolsandMicrosoftOfficeapplications.
- Ability to manage multiple priorities in a fast paced environment and meet deadlines.
- Strongcommunicationandinterpersonalskillsforeffectivecollaborationwithinternalandexternalstakeholders.
- Soundunderstandingofvariouscustomertypescorporatestructuresandjurisdictionalriskfactors.
- Abilitytointerpretcomplexregulatoryinformationandapplyitpracticallyforcompliancepurposes.
- Abilitytomentorandcoachjuniorteammembers.
- Proactiveapproachtoidentifyingprocessgapsandrecommendingimprovements.
- FamiliaritywithglobalAMLregulationssuchasFATFrecommendationsBSAUSAPatriotActetc.
INTERNAL CANDIDATES:
- 24 months as an Associate Consultant/Technical Coordinator OR 12 months as a Consultant
- Knowledge of NT Trust and banking source account opening systems
- Knowledge of trust and banking product documentation to verify required legal documents and associated information to understand legal entity setups and account ownership.
- Some knowledge of Northern Trust Wealth Management business is ideal
- DIRECT REPORTS TO
Section Manager
- INTERNAL KEY STAKEHOLDERS
Home Locations Leads/Managers / Senior Management
US Wealth Management Client Relationship Form Review Team
Northern Trust AML Compliance
BU Control
NT Risk
AML teams in Home locations
Upstream & downstream teams
Peers and Support functions
Eligibility for Internal partners
- 24 months as a Technical Coordinator/Associate Consultant to move as a Team Leader/ Consultant.
- Movement within TL and Consultant is 12 months
Working with Us:
As a Northern Trust partner greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged senior leaders are accessible and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
Wed love to learn more about how your interests and experience could be a fit with one of the worlds most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process please email our HR Service Center at .
We hope youre excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
About Our Pune Office
The Northern Trust Pune office established in 2016 is now home to over 3000 employees. The office handles various functions including Operations for Asset Servicing and Wealth Management as well as delivering critical technology solutions that support business operations across the globe.
Our Pune team takes our commitment to service to 2024 they volunteered more than 10000 hours into the communities where they live and work. Learn more.
Required Experience:
Contract
Employment Type
Full-Time
