Anti-money Laundering, Srassc

1 week ago

Bengaluru, India State Street Full time

DESCRIPTION

The KYC Global AML Center department provides a Customer Identification Program (CIP) and Customer Due Diligence (CDD) service to State Street’s Business units spread across globally. The department is tasked with procuring Client Identification document, validating the requirements as per the requirement matrix. The team’s primary responsibility is to support the Business Units in onboarding the customers are per the agreed timeline and periodically review the existing customers as per their Risk Rating. We collaborate with FIU, Compliance, all Lines of Business Units and KYC Shared Services in order to comply by the AML policies and requirements.

The GAC QA team, which is based in Bangalore/Hyderabad, India, is responsible for 4eye check and validation of client data, documents and publically available information on State Streets’ new and existing clients to comply with firm’s AML/KYC Policy and Procedures. The team is, further, responsible for ensuring that all existing clients of State Street are renewed in accordance with firm’s AML/KYC Policy and Procedures

RESPONSIBILITIES:
Responsibilities will include:

- Ensure State Street AML/KYC Compliance Policy requirements are met and that CIP/CDD/EDD procedures are followed for Periodic Review, New Client Onboarding and Event Driven Reviews.
- Manage and approve the completion of CIP/CDD/EDD documentation for all Customers in line with applicable AML Policies & Procedures
- Ensure CIP/CDD/EDD assessments are met using corporate compliance tools and methods prior to account opening are completed before account opening and on an on-going basis for all accounts
- Provide technical and specialist support to the OpsTeam members
- Liaise with the Ops team/management to ensure timely completion of client on boards.
- Thorough knowledge of SOPs/related check points. Should be a SME to the team.
- Identify opportunities for process efficiency and suggest for implementation in a controlled manner.
- Work both independently and as a team in a fast paced production environment.

**REQUIREMENTS**:
Education and Experience
- Graduate and above preferably in Finance
- Hands on experience on complete KYC process, preferably in the Periodic Review process.
- Overall experience of 2.5 years

Skills/Knowledge
- Possess good understanding on end to end KYC process of the BU.
- Ability to perform KYC reviews on different entity types, such as Trusts, Hedge Funds, Charity, Foundation and regulated entities, etc.
- Understanding of complex ownership structure.
- Should have good understanding of USA Patriotic Act and CIP.
- Ability to interpret KYC policies, procedures and laws and put into practice
- Should be able to perform KYC reviews on High, Medium and Low Risk entities along with the EDD procedures
- Good interpersonal skill is required to liaise with the RMs and ability to take Business calls.
- Eye to detail to identify potential errors.
- Ability to engage with colleagues from different State Street sites and locally
- Ability to support other staff and to participate in the process to ensure work is completed accurately and on time
- Ability to perform effectively to strict deadlines
- Strong knowledge on MS Excel to prepare reports
- Good Time management and should be able to prioritize tasks.
- Flexibility in shift.
- Strong ownership and accountability of the tasks assigned.

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