Due Diligence Co-ordinator

4 weeks ago

Hyderabad Telangana, India Wells Fargo Full time

**About Wells Fargo India & Philippines (WFIP)**

Wells Fargo India & Philippines (WFIP) enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. WFIP operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about WFIP at our International Careers website.

**Department Overview**

Commercial Banking Control Operations caters to Onboarding of New to Bank Customers in Commercial banking domain. Team also has Periodic Review, Data Quality Exceptions and Quality Check Capabilities in Wells Fargo India Financial Crimes Control operations. Financial Crimes Onboarding Team Conducts Know your Customer (KYC) Compliance process for Commercial Banking Line of business processes in line with the requirements of the USA Patriot Act as well as Wells Fargo corporate AML / BSA policy requirements. Is Responsible for assisting with the implementation and monitoring of a risk-based compliance program to assure compliance with federal, state, agency, legal and regulatory requirements. Reviews Customer Due Diligence information for accuracy and investigate discrepancies and Interacts with compliance representatives to assess potential unusual activity. Financial Crimes QC Team - Conducts QC reviews on Know Your Customer (KYC) Onboarding activity, Monitoring and Surveillance activity, and other financial crimes related activities and processes to ensure compliance with both the USA Patriot Act as well as Wells Fargo Corporate AML/BSA policy requirements. - Analyzes risks or errors and communicate negative findings to relevant Financial Crimes partner for rectification. Periodic Review Team Performs KYC Refresh Activity for Commercial banking customers. Data Quality Exceptions Team Reviews and resolves Core data element exceptions to ensure Customer data is consistent with Commercial Banking and enterprise data standard.

**About the Role**
Due Diligence Associate should participate and provide compliance support for projects and initiatives with low to high risk to identify assess and mitigate BSA/AML risk in business activities. Analyze risks on escalated, referred, or alerted negative news. Communicate negative findings to lines of business and supply guidance on course of action. Identify and research the patterns, trends and anomalies in transactional and customer data to detect, prevent, mitigate and report suspicious activity related to money laundering and terrorist financing. Review Customer Due Diligence information for accuracy and investigate discrepancies. Identify Higher Risk clients and obtain Enhanced Due Diligence where appropriate. Analyze potentially suspicious activity, which will require the review of historical activity along with customer information. Interact with compliance representatives to assess potential unusual activity. Maintain program and procedures, making updates as needed. Assist as needed with examinations and/or audits.

**In this role, you will**:

- Support Due Diligence group
- Seek ways to improve client onboarding process, on-going periodic client reviews and quality control activities
- Conduct complex comprehensive research or background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate associated sanctions, financial crime, and reputational risks
- Receive direction from supervisor and escalate non-routine questions
- Interact with immediate team and Due Diligence area on wide range of information
- Engage with clients indirectly through relationship managers to support meeting policy and regulatory requirements

**Required Qualifications**:

- 2+ years of Due Diligence experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

**Desired Qualifications**:

- Conducting Know your Customer (KYC) Compliance process for commercial banking processes in line with the requirements of the USA Patriot Act as well as Wells Fargo corporate AML / BSA policy requirements.
- Responsible for assisting with the implementation and monitoring of a risk-based compliance program to assure compliance with federal, state, agency, legal and regulatory requirements.
- Responsible for picking up relevant samples for Data Quality exception to assure compliance with as prescribed in the QC framework requirements.
- Participates in and provides compliance support for projects and initiatives. with low to high risk to identify, assess and mitigate BSA/AML risk in business activities.
- Maintain an Audit Trail of Due Diligence Performed.
- Interact with compliance representatives to assess potential unusual activity.
- Maintain program and procedures, making updates as needed.
- Assist as needed with examinations and/or audits.
- Sound analytical, critical thinking and problem-solvi

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