Senior Due Diligence consultant

3 weeks ago

Hyderabad, India WELLS FARGO BANK Full time
About the Role

Wells Fargo is seeking a Senior Due Diligence consultant.
Senior Due Diligence Consultant 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.

In this role, you will:
  • Participate in conducting due diligence programs on moderately complex initiatives and deliverables within functional area and contribute to large scale planning related to functional area deliverables
  • Provide subject matter expertise on due diligence documentation requirements and data sources
  • Support business in execution of due diligence reporting processes and controls, interpret policies, guidelines and governance programs
  • Review and analyze client onboarding processes and challenges that require research, investigation, evaluation, and selection of alternatives
  • Provide subject matter expertise on documentation and data sources and exercise independent judgment to guide moderate to high risk deliverables
  • Compile and evaluate report results and escalate when necessary
  • Resolve moderately complex issues and lead team to meet functional area process deliverables
  • Leverage solid understanding of the function, policies, procedures and compliance requirements
  • Collaborate and consult with peers, colleagues, managers and internal and external customers to resolve issues and achieve goals
Job Responsibilities:
  • 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.
  • Conduct comprehensive research for screening individuals, entities, organizations to mitigate risk associated with financial crimes and sanctions to adhere to the guidelines of BSA/AML and OFAC.
  • Familiarity with articulation of adverse articles to substantiate or to escalate news based on materiality of the news to address financial crimes, reputational and corruption and bribery risk and thoroughly documenting findings.
  • Screens customers, prospects 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.
  • Maintain program and procedures, making updates as needed.
  • Assist as needed with examinations and/or audits.
  • Sound analytical, critical thinking and problem-solving skills.
  • Experience with decision making and report writing.
  • Sound domain and process knowledge and support any cross training/In-house training requirements.
  • Mentoring Low/Under Performers.
  • Should be capable of Inhouse Quality check review depending on process need which would help in Real time Feedback.
  • Reduce LOB dependency /Support in-house skilled resources.
  • Act as an SME. Identify and recommend analysis of data quality or integrity issues.
  • Lead teams in the absence of Manager and mentor less experienced staff members.
  • Handle process Escalations.
  • Consult Upstream and Downstream of the processes and provide recommendations on process improvements.
  • Reviews and analyzes due diligence data from a variety of sources to determine overall risk.
  • Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.
  • Collaborate with other departments/functions to resolve KYC related issues and provide guidance on regulatory requirement.
Required Qualifications:
  • 4+ years 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
Essential Qualifications:
  • 8+ years of experience in one or a combination of the following: financial services, criminal justice, fraud, Bank Secrecy Act, US PATRIOT 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.
  • A bachelor's degree or with equivalent industry/functional experience
  • Fluency in spoken and written English
  • Ability to be flexible and willing to change along with changes in corporate and department objectives in addition to recommending changes to assist in meeting these objectives.
  • Ability to balance quality and quantity (volumes) with primary focus on quality.
  • Ability to learn quickly and adapt to evolving and changing priorities. Procedures change frequently; selected candidates are expected to implement the changes immediately with minimal training.
  • Ability to meet SLA's, takes initiative for ensuring timely completion of set tasks.
  • Ability to submit deliverables on a timely manner while still being able to perform additional tasks (work priorities, deadlines, management reports, etc.)
  • Willing to work a flexible schedule to accommodate business needs.
  • Quality-Oriented with high-level of attention to detail.
  • Is self-motivated, pragmatic (sense of urgency is a must)
  • Certification on AML/KYC is preferrable.
  • Proficiency in Office Suite (Excel, Word, PowerPoint, Outlook) and Sharepoint.
  • Leadership and Reporting experience.
Posting End Date:
4 Nov 2024
*Job posting may come down early due to volume of applicants.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

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.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

Applicants with Disabilities

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .

Drug and Alcohol Policy

Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.

Wells Fargo Recruitment and Hiring Requirements:

a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.

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