Description
Here we have an exciting opportunity to work for Bank of America Merrill Lynch as an experienced KYC Analyst.
KYC Analyst;
Overview
This is an U.K. job only. Review existing accounts and ensure they comply with anti-money laundering regulations. Review customer account data to ensure information is complete and accurate. Review changes in the source of funds and issued capitol and renewing D&B report or other service provider detail. Verify the client listing with the regulator. Monitor customer financial statements and shareholder changes. Periodically review accounts for activity and archive as designated.
Job Description
The analyst will need to perform a review of all existing accounts based upon their risk factor. AML documentation gathering will be required from various sources. Accounts to be refreshed will fall into several categories ie Hedge Funds, Trusts, Private Clients as well as regulated and listed companies across all countries. There is manual intervention and this candidate will need to be articulate.
The Account Review Team is responsible for reviewing account opening documentation for the Bank's branches in its Europe, Middle East and Africa division (EMEA) The risk rating of each client determines the frequency of the Refresh.
The team has a vacancy for an individual who has at least 1 year's experience of AML/KYC documentation and AML regulations with exposure to structured finance deals, SPV's Hedge Funds and Privates
The role includes conducting external research and maintenance of information electronically, therefore, a solid knowledge of PC skills is required, as are good organisational skills
Responsibilities
* Update identification information and evidence any material changes to the business or relationship via a third party source.
* Liaise with the Sales Team to update KYC information not available from a third party.
* Update document repository by scanning additional documentation and checklists
* Obtain renewed certificates for expired US Patriot Act Certificates.
* Update the Risk scoring engine and reassess risk ratings applying any special policy.
* Liaison with Compliance and Sales where necessary
* Monitor name changes and mergers previously not updated and identified as part of the AML refresh
* Refresh approved accounts on a regular basis using the risk based approach
Requirements
* A second European language would be a distinct advantage.
* Strong analytical and communication skills (both oral and written)
* Strong organisational skills
* A flexible, team-spirited approach with the ability to work independently
* A good knowledge of various corporate structures eg Funds, Trusts, Partnerships, SPV's etc.
* Sound knowledge of AML/KYC requirements
* Ability to work accurately to tight deadlines in a demanding environment
* Attention to detail
Prepares and/or maintains documentation pertaining to programming, systems operation and user documentation. Translates business specifications into client documentation. Plans, writes, and maintains systems and user support documentation efforts, including online help screen. Has knowledge of commonly-used concepts, practices, and procedures within AML field. Relies on instructions and pre-established guidelines to perform the functions of the job. Works under immediate supervision. Primary job functions do not typically require exercising independent judgment. Typically reports to a supervisor or manager.
Spring Technology is acting as an Employment Business in relation to this vacancy.
Spring Technology is an Equal Opportunities employer; we welcome applicants from all backgrounds.