Due Diligence Associate

2 months ago

Chennai Tamil Nadu, India Wells Fargo Full time

**About this role**:
Wells Fargo is seeking a Due Diligent Associate

**In this role, you will**:

- Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate degree of complexity and risk to determine appropriateness for Wells Fargo.
- Conduct comprehensive research and background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate risks through documenting findings
- Reviews and analyzes due diligence data from a variety of sources to determine overall risk. Screens customers, prospects and/or transactions against various regulatory reporting lists and regionally based sanctions watch lists.
- Evaluates risks to determine permissibility under sanctions, regulations and/or BSA/AML regulations. Works with high risk customers (e.g. casinos, MSBs, payment processors) to understand controls and activities.
- Performs documentary or non-documentary Customer Identification Program on domestic customers in accordance with regulations and bank's policy.
- Provides appropriate direction to the lines of business through escalating confirmed sanctions alerts, PEP matches and other risks as determined.
- Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act, USA PATRIOT Act and various sanctions regulations, and in accordance with policy/procedures set by the bank.
- Consults with peers, line of business managers and other external parties regarding due diligence findings. Participates in moderate size project initiatives.
- Operates independently with mínimal supervision, and effectively manages work requests to meet performance expectations.

**Required Qualifications**:

- 6+ months of Due Diligence experience, or equivalent (including risk management, client service, operations support, or business process management) demonstrated through one or a combination of the following: work experience, training, military experience, education

**Desired Qualifications**:

- 6+ Months of experience in risk (includes financial crimes, operational risk, audit, legal, credit risk, market risk) and a University degree in Business or related discipline
- Ability to take initiative and work independently with mínimal supervision in a structured environment
- Ability to research, analyze, and determine a course of action for financial transactions
- Knowledge and understanding of regulatory compliance requirements surrounding USA PATRIOT Act and Anti Money Laundering (AML) requirements
- Basic Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
- Ability to provide strong customer service and develop customer relationships

**Posting End Date**:
29 Nov 2024
**Job posting may come down early due to volume of applicants.**

**We Value Diversity**

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

**Applicants with Disabilities**

**Drug and Alcohol Policy**

Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.

**Wells Fargo Recruitment and Hiring Requirements**:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.

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