Financial Crime Associate

7 months ago

Hyderabad, India Wells Fargo Full time

**About this role**:
The Financial Crimes Associate in GSSRG performs screening and alert dispositioning for over 95% of Wells Fargo's customer relationships, as well all international and domestic wire transfers, global remittances, ACH, credit card/prepaid cards, trade finance, official checks and other payment products. The Associate will perform screening to detect politically exposed persons (PEPs) holding accounts directly or indirectly through beneficial ownership. The role also entails Negative News screening for certain account/customer records.

**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.
- Conducts comprehensive research and/or background investigations on individuals, entities, organizations or locations to identify and mitigate associated sanctions, credit, financial crime, and reputational risks and thoroughly documenting findings.
- Reviews & 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. Reviews transactions / profiles of high risk customers (e.g. casinos, MSBs, payment processors) to understand controls and activities.
- Provides appropriate direction to the line of business. Escalates confirmed sanctions alerts, PEP matches and other risks appropriately.
- Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act and various sanctions regulations, and in accordance with policy/procedures set by the bank.
- Prepares & submits regulatory reporting and requests. Consults with peers, line of business managers & other external parties regarding due diligence findings.
- Develops/delivers procedures or training; or mentors less experienced consultants.

**Required Qualifications**:

- 5+ years of experience in Financial Crime Compliance - Sanctions Screening (Customer & Transaction), PEP & Negative News Screening
- Knowledge & understanding of BSA & USA PATRIOT Act, OFAC Sanctions Programs
- Experience using screening tools like World Check, Lexis Nexis, Dow Jones & RDC
- Understanding of payments / transactions such as SWIFT, ACH, Wires etc.
- Ability to identify red flags and disposition alerts using a risk based approach
- Eye for detail, prioritization and time management
- Ability to take initiative and work independently with mínimal supervision
- Basic Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
- Good customer service skills, team work and stakeholder connect
- Strong organizational and time management skills with the ability to manage multiple responsibilities and tasks simultaneously
- Graduate, preferably in Finance / Business Administration

**Desired Qualifications**:

- ACAMS or other industry Certifications
- Control testing or transaction monitoring experience
- Experience as a QC / Maker / 4-eye reviewer

**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.

**Drug and Alcohol Policy**

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

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