Due Diligence Associate

1 week ago

Bengaluru, India Wells Fargo Full time

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

**In this role, you will**:

- Financial Crime Compliance ("FCC") has primary responsibility for the execution of the firm's enterprise-wide Anti-Money Laundering ("AML"), anti-bribery, and government sanctions compliance programs and, among other things, performs enhanced due diligence and government sanctions screening, as well as surveillance and investigations designed to identify potential terrorist financing, money laundering, bribery, corruption, and market abuse, or other suspicious activity.
- Conducting customer risk review in line with client policy to fulfill Know Your Customer (KYC) requirements.
- Complying with the BSA requirements to prevent, detect and deter money laundering and terrorist financing through the review of system generated alerts.
- The responsibilities would include due diligence review and a decision to close with no risk or escalate to a case investigation accompanied by a thorough analysis.
- Conducts comprehensive research and/or background investigations on individuals, entities, organizations or locations to identify and mitigate the risk related to sanctions, financial crime, and reputational risks and thoroughly documenting the findings.
- Responsible for identifying, researching and analyzing complex financial crimes transactions and referrals, policy violations and/or unusual situations.
- Monitoring of clients for negative news and to identify the Politically Exposed Persons (PEP) that could pose an AML or reputational risk to the firm, sanctions and OFAC screening.
- Reviews of internal client account documentation, external supporting documentation, and third-party vendor informational sources.
- Investigate, analyze, and summarize any derogatory information for WIM High Risk clients.
- Perform detailed analysis to detect patterns, trends, anomalies in transactions and relationships across multiple businesses/products and articulate the findings in detail.
- Proactive review and follow-up on referrals and queries.

**Essential Qualifications**
- Minimum 2-4 years of relevant experience in Anti-money laundering, KYC, CIP, Enhanced due diligence, Customer due diligence, Negative news Screening, Sanctions investigation.
- Extensive knowledge of the consumer banking industry as it relates to BSA/AML KYC operations and regulations
- Understanding of the opportunities and challenges in the digital finance sector, particularly as they relate to AML and Fraud
- Ability to prioritize workflows and ensure deadlines are met
- Would be required to demonstrate logical thinking, domain understanding
- Ability to foresee risks, be proactive and predictive while developing risk mitigation plans
- Ability to exercise independent judgement and discretion handling highly sensitive casework
- Strong leadership attributes with multitasking abilities
- Must have good written and verbal communication skills.
- Bachelor's Degree with good academic track record.

**Desired Qualifications**:

- Possess good knowledge in AML, CDD, ODD & EDD, Screenings and familiar with US regulations (Bank Secrecy Act, USA PATRIOT Act and Economic Sanctions laws).

**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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