Due Diligence Associate

2 months ago

Bengaluru Karnataka, India Wells Fargo Full time

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

**In this role, you will**:

- Engage with clients directly or indirectly through relationship managers to support meeting policies or regulatory requirements and focus on client satisfaction
- Conduct comprehensive research and background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate risks through documenting findings
- Review basic issues, policies or procedures for which answers can be quickly obtained related to lower risk tasks and deliverables with narrower impact
- Run periodic due diligence reporting supporting processes reflective of the current business environment
- Gather and input data utilizing resources to identify documentation required to meet policy or regulatory requirements
- Receive direction from supervisor and exercise judgment while developing understanding of function, policies, procedures, and compliance requirements
- Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals

**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**:

- Financial crime Operations - Screening and Investigations (S&I) is seeking a highly motivated, detailed oriented and talented professional for a career opportunity as a Due Diligence Associate.
- Customer due diligence, supporting all major lines of business and operating as an extension of the onboarding process for new business and high net value individual customers, as well as the bank's high risk third party non-customer relationships. CDDI also provides ongoing due diligence and negative news monitoring for all relationship managing lines of business. CDDI is a component of the Customer Due Diligence.
- The Due Diligence Associate conducts due diligence and investigations on commercial customers and their related parties (owners, board of directors, and chief level executives), as well as the bank high net value clients seeking to expand or establish new credit relationships. Primary due diligence and investigative responsibilities involve conducting comprehensive background investigations on individuals and business entities to identify and mitigate credit (willingness to pay), financial crimes, and reputational risk associated with existing lines of business portfolios and prospects while adhering to the Corporate BSA/AML policies.
- The components of the background investigation include, but are not limited to criminal and civil litigation, bankruptcies, judgments, and tax liens, corporate registration, adverse news, and the initiation of in-country investigations for high-risk international customers. The Due Diligence Associate are expected to review and analyze investigations data from a suit of sources compiled in a data aggregator.
- The investigation findings will have a high degree of complexity and will require confirmation or a phase positive determination. Investigation results are summarized in an investigation summary report and delivered to the line of business that is managing or establishing the relationship.
- 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 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. Provides appropriate direction to the line of business. Escalates confirmed sanctions alerts, PEP matches and other risks appropriately.
- Performs non-documentary Customer Identification Program on domestic customers in accordance with regulations and bank policy.
- 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.
- Develops/delivers procedures or training, or mentors Associates with less experience. Effectively manages work requests to meet performance expectations.
- Experience in risk (inc

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