Institutional Investment Operations Associate
1 month ago
About Wells Fargo - Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique
skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
About Wells Fargo India & Philippines
- Wells Fargo India & Philippines (WFI&P) enables global talent capabilities for Wells Fargo & Company, by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. WFI&P operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about WFI&P at our International Careers website.
Department Overview
- Corporate and Investment Banking (CIB) Securities Shared Services Operations is a cross-functional group of teams that provide support for CIB-Markets and the broader Wells Fargo organization. Shared Services are the owners and stewards of both client and reference data with a focus on operational excellence and superior client service. The Shared Services Client Data & Onboarding team is focused on data and documentation gathering that is necessary to onboard new clients, maintain client accounts and support the client throughout the lifecycle of the relationship. The team interacts with all departments within Capital Market Sales as well as Compliance, Settlement Operations, AML/KYC, Middle Office and Credit.
Process Overview
- The Client Onboarding process covers the end-to-end document collection and validation including performing CIP verification / Customer Due Diligence, and collecting Enhanced Due Diligence for higher risk clients in support of the Bank Secrecy Act (BSA) and the WFS Anti-Money Laundering (AML) program while ensuring the process complies with relevant regulations and corporate policies. The team will support the CIB / WFS (Wells Fargo Securities) Line of Business. The function will also include support of change management projects / initiatives and procedures.
About the Role
- This position is within the Wells Fargo Securities (WFS) Know Your Customer (KYC) Customer Due Diligence (CDD) Onboarding Team. The individual will be responsible for assisting with development of consistent AML/KYC, Compliance, and Operational Risk analysis and the management of select technology risk for multiple lines of business. Specifically this role will be responsible for performing CIP verification, reviewing Customer Due Diligence, and collecting Enhanced Due Diligence for higher risk clients in support of the Bank Secrecy Act ("BSA") and the WFS Anti-Money Laundering ("AML") program while ensuring the process complies with relevant regulations and corporate policies.
Responsibilities - The tasks required by this function includes the following:
- Work closely with Client Facilitation team to complete the smooth onboarding of clients
- Gather client documentation from public sources or via the Front Office
- Review and validate customer information to ensure adherence to Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD)
requirements
- Upload data and client documentation into the CIP/CDD onboarding workflow tool and/or System of Record
- Escalate to CIB Heightened Customer Risk Team / 2nd Line of Defense Compliance teams for review and approval, where required
- Coordinate onboarding cases through the various internal stakeholder teams
- Maintenance and enhancement of governance documents (e.g. Process flows and procedures)
- Work with Governance and Compliance teams to implement changes to policies and procedures
- Deliver timely and accurate Management Information system information for Operations management
- Reviewing and validating customer information to ensure adherence to Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements.
- Providing AML guidance and escalation to LOB stakeholders for complex accounts and relationships.
- Coordinating and managing day-to-day evaluation of AML risks throughout customer lifecycle process.
- Updating procedures related to BSA / AML program.
- Documenting process improvements and creating / managing action plans.
- Participating in projects and initiatives to identify, assess, and mitigate
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