Due Diligence Associate

7 months ago

Chennai, India WELLS FARGO BANK Full time

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

**In this role, you will**:
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.

Due Diligence Associate will report to a Due Diligence Associate Manager / Due Diligence Manager within WFI&P Delivery

**Responsibilities**
- 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.
- Conduct and provide guidance with process/product owner specific to implementation and execution of business-specific guidelines relating to client on-boarding, client periodic reviews, and quality processes.
- Provide support in the interpretation of policy, guidelines, and governance programs.
- Participate in and provide compliance support for projects and initiatives with high risk to identify, assess and mitigate BSA/AML risk in business activities.
- Gather and input data utilizing multiple internal systems and/or external 3rd party resources to identify documentation required to meet policy or regulatory requirements.
- Act as a focal point for escalated issues and assist in department guidance; develop and deliver procedures/training.
- Support and implement initiatives with low to moderate risk.
- Interaction with the internal partners to support the process.
- Effectively manage work requests to meet performance expectations.

**Required Qualifications**:

- Graduation in any stream.
- 4+ years of experience in one or a combination of the following: financial services, criminal justice, fraud, Bank Secrecy Act, anti-money laundering, or investigations of financial crimes or policy violations; experience in the foregoing Operational Risk Management processes and / or Compliance or Audit Programs of a banking back-office operations.
- Familiarity with and working knowledge of BSA/AML programs including all aspects of KYC and / or other related risk and regulatory disciplines.
- Proven ability to collaborate with all levels of management and functional groups.

**Desired Skills**:

- Good Verbal and Written Communication Skill
- Ability to Interpret data
- Analytical skills
- Quick learner
- Domain knowledge within banking

**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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