PURPOSE OF THE ROLEThe Analyst, Corporate Banking Service Centre provides regional support in defending the Bank against money laundering (ML) / terrorist financing (TF) risks through know your customer (KYC) document collections, verifications, client profile reviews, account monitoring and reviews of country portfolios. The Analyst will be responsible for solving clients’ anti-money laundering (AML) / KYC issues in a prompt and communicative manner and for adherence to controls and compliance with procedures and policies of the Bank. The incumbent will be responsible for supporting the Corporate & Investment Banking (C&IB) sales teams in the AML / KYC aspects of account opening for existing / potential customers, some of whom may be establishing new businesses, including collection, digitization, and review of all associated KYC documentation, which may vary according to type of account, etc. Additionally, the incumbent will support C&IB in the completion of periodic client reviews and transaction monitoring activities. The Analyst will be a subject matter expert in AML / ATF matters, assisting in the management of risks associated with the legal and regulatory requirements related to the products and services provided by C&IB and the management of ML / TF risks within the assigned countries that they support.
KEY ACCOUNTABILITIES- Provides operational AML / KYC support to the Corporate team by executing key AML activities and tasks, such as onboarding, periodic client reviews, and transaction monitoring, to ensure strong relationships with customers are nurtured and maintained, while adhering to AML / ATF controls, as per policy and jurisdictional guidelines. Provides a high-level of service to both Corporate Banking clients (including affluent clients) and internal partners to exceed expectations and ensure that Corporate service standards are followed at each customer touchpoint within their portfolio, with the aim of building loyalty and expanding the share of wallet.
- Works with the Corporate Managers and Client Service Officers (CSOs) to open accounts for existing and potential clients in the units within their assigned portfolio, some of whom may be establishing new businesses. Undertakes AML / KYC collection, digitization, verification and profile review activities in the onboarding and periodic client review processes, in accordance with established policies and procedures, which may vary according to type of account and / client. Ensures clients meet applicable KYC regulatory requirements, as outlined in the AML policy.
- Accurately assesses and documents the profile requirements of the client in partnership with Corporate Managers and CSOs during the pre-assessment and onboarding of new clients to ensure appropriate KYC collection with regard to the level of due diligence required for respective clients and their assigned risk ratings. Ensures onboarding activities are aligned to AML / ATF mitigating controls, as per policy and framework, and completed within a timely fashion.
- Performs analysis to verify the nature of business and branch / Bank connections for new and existing clients, in accordance with required activities (onboarding / periodic reviews). Establishes and maintains records on core systems (iCAP, ICBS and CIF customer systems) while providing operational support to business units on the AML / ATF programme and local regulatory requirements, thus supporting front line business development and continued maintenance of client profiles.
- Liaises with the business and internal partners (e.g. Compliance, Audit, and others, as required), in order to complete key AML / ATF tasks related to onboarding, periodic client reviews, transaction monitoring / reporting, internal audits, correspondent banking and third party requests for information (RFIs), many time-sensitive in nature; while acquiring appropriate guidance from Compliance and addressing issues for resolution for frontline operations.
- Analyses and monitors client profiles and data components in accordance with AML / ATF and required KYC activities and tools, ensuring adherence to risk service standards on legislation relating to KYC, ML / TF and other compliance responsibilities / issues, including politically exposed people (PEPs) measures and all other enhance due diligence (EDD) rules for the acceptance and retention of client businesses.
- Reviews and analyzes transaction data in daily reports for unusual activity; investigates, researches and reports as necessary as per Bank policy via the unusual activity report (UAR). Reviews findings with Corporate Manager(s) as required, to ensure accurate and timely reporting is conducted.
- Responsible for staying well informed and up to date on various jurisdictional regulatory requirements to facilitate providing coverage for other analysts during planned / unplanned leave, thereby ensuring that all processes are completed within established service level agreements (SLAs).
- Proactively stays abreast of / and analyzes developing industry and compliance trends, as per self-development training plan, ensuring Corporate Banking teams’ are adhering to all governance and control guidelines, as prescribed by Bank policy.
- Escalates relevant matters to the Senior Manager, Corporate Banking Service Centre, including any process or policy challenges and where possible, identifies and recommends ideas / solutions for rectification.
- Completes regular analysis, reviews and reporting of overall progress of exception based client relationships, possible gaps and / or issues regarding AML exemptions lists, and timeliness, including context of required and acquired approvals, assists the Senior Manager, Corporate Banking Service Centre in managing the supporting processes such as AML exceptions, cash intensive business exemption list, transaction monitoring exemption list and overall approvals for the C&IB across the region.
- Provides guidance to Corporate Managers on AML / ATF matters to ensure appropriate application of the Bank’s AML / ATF compliance framework and to ensure that local regulatory requirements are consistently met.
EXPERIENCE, SKILLS AND KNOWLEDGE REQUIRED-
- Minimum of 3-4 years banking experience
- Specific customer service and / or banking operations experience
- Good understanding of Corporate Banking / or banking operations and how they related to risk management measures and protocols
- Exposure to banking risk management support functions
- Proficient in relationship management, handling both client and internal queries in an efficient and timely manner
- Well versed in delivering high-quality work in a fast-paced environment combined with the ability to keep calm under pressure, remain civil, and open to ideas from others
- Working knowledge and experience of compliance requirements for corporate clients, including complex company structures and enhanced due diligence practices
- Knowledge of laws and regulations relevant to banking, company structures and other financial services
- Knowledge of the AML / ATF regulatory landscape within a financial environment
- Understanding of sanctions and politically exposed persons (PEPs)
- Understanding of key regulatory requirements across sectors throughout the Caribbean
- Working knowledge of the operational elements in the banking environment
- Sound understanding of KYC requirements as they relate to client onboarding and periodic client reviews, specifically on customer due diligence components work in conjunction with transaction monitoring intentions
- Knowledge of the risks associated with the products and services available to C&IB clients
- Good knowledge and understanding of roles and responsibilities within C&IB
- Knowledge of Corporate processes, policies and procedures
- Proficiency and experience in Corporate Banking applications would be an asset
- Good writing and communication skills, awareness of when and how to convey information and / or ideas concisely in ways that will be clearly understood
- Competency in PC applications, e.g. word processing - Word, presentations - PowerPoint, Office, etc.); in addition to the ability to quickly learn relevant and potentially complex, add-on applications, as required
- Analytical, with the capability to provide practical solutions and prioritize workload with multiple deadlines
- Good problem-solving and critical thinking skills
- Detail oriented, with an aptitude for research, in addition to collecting and reviewing data
- Effective organizational and multi-tasking skills combined with effective time management
- Ability to identify, escalate, and communicate issues to management in an effective and concise manner
- Good interpersonal skills to work effectively with customers and staff
- Sound judgement when handling dissatisfied clients
- Dedicated and disciplined
- Quality conscious with the ability to consistently deliver at the highest standard