Team Head Client Verification Team (CVT) - Urgent Role

Job Purposes:

Team Head, Client Verification Team manages tasks assignment to staff members’ of CVT, supervises staff members’ performance and to achieve predetermined team and individual targets. The Team Head is responsible for providing regular reporting to Client Verification Team (CVT) Department Head, coordinating CVT related projects, maintaining communication with stakeholders, and performing escalations if required. In addition, the Team Head will also perform CVT Reviewer specific responsibilities as defined within the global Client Lifecycle Management (CLM) procedure, and act as the coordinator of front to back KYC & account admin processes under the guidance and supervision of CVT Department Head. The Team Head is also responsible to ensure team members are kept up to date on latest developments within the remit CVT team and ensure team members receive necessary training to ensure that they are able to perform their tasks to the standards expected by Commerzbank A.G.

Key Activities:

General:

Understand and comply with CGSS Code of Conduct

Client Verification:

• Understand all relevant published workflows, guidelines, policies, processes and procedures applicable to Client Verification Team (CVT), including but not limited to the Global Client Lifecycle Management (CLM) procedure, Global Screening procedure, WLF Screening of clients procedure and respective local addenda.
• Understand CGSS structure, client coverage/segmentation and products/services offered to clients in international Commerzbank locations.
• Perform assigned tasks as part of the on-boarding, regular and event-driven review, account opening, account closure and off-boarding of Corporate Clients and NBFIs.
• Review documentation of performed Customer Due Diligence incl. validation of completeness and accuracy of mandatory KYC documentation and information.
• Assess performed verification of client information and documentation including but not limited to client’s identity, Beneficial Ownership and Bearer share information.
• Review documented follow-ups performed within the information/documentation gathering process incl. escalations of any non-receipt of documentation.
• Perform a review of screening conducted on clients, beneficial owners, associated parties, legal representatives, authorized signers/traders and others as defined by the CLM procedures.
• Perform assigned tasks as part of the on-going (manual and/or system-based) screening process incl. alert clearance in respective system.
• Check the documentation of performed disposition of screening results.
• Ensure that the correct the Customer Risk Rating (CRR) was calculated based on global CRR methodology or manually adjusted as requested by Compliance.
• Ensure that the appropriate level of Due Diligence and its documentation was applied to the Client at onboarding and review.
• Review all required checks as defined by the CLM & Corporate Client Account opening procedures were performed.
• Check that Client Data elements and performed Due Diligence were properly captured/documented in appropriate systems.
• Assess documentation of performed updates to client’s KYC/Account data.
• Review documentation on performed communication between CVT Analyst and Client Owner and/or Compliance.
• Liaise with CVT Analyst and Compliance to clarify questions and resolve issues as they arise.
• Escalate issues to the Client Verification Team (CVT) Department Head, CGSS.
• Ensure appropriate stakeholder management, providing update on progress of various tasks, and ensuring that stakeholders are provided appropriate, sufficient and timely information for further or follow up action.
• Provide support in generating appropriate statistics/metrics/KPIs that are used for regular management reporting.
• Provide support in potential remediation tasks.
• Participate in Committees and projects with specific task of ensuring overall compliance with strategic and operative targets/projects.
• Provide support/input in responding to requests received from internal and external auditors.
• Miscellaneous responsibilities as required.

Other:

Deputize for Department Head, CVT Asia as instructed / assigned.

Formal Education:

• College degree in a Business-related / Banking / Finance discipline or similar education
• Completed apprenticeship / training in the financial industry or similar experience
• KYC / Compliance Certification preferred

Specialist Knowledge:

• At least 5 years professional experience in Client On-boarding (KYC) and/or Account Admin operations and Anti-Money Laundering functions at a large financial institution
• Working experience in an international environment is a plus.
• Experience in a leadership/management role; extensive product, market and regulatory knowledge.
• Strong interpersonal skill set, particularly in a cross-cultural environment
• Ability to quickly comprehend, simplify and present complex structures, issues and challenges to broad audiences.
• Multi-year professional experience in operations at a large financial institution
• Advanced knowledge of Financial Crime prevention, local and international sanctions and KYC
• Ability to review and understand business and legal documents required for the KYC process.
• Experience in conducting screenings and handling of potential matches to adverse news, designated sanctions targets and prohibited persons lists.
• Ability to review and evaluate documentation of conducted Customer Due Diligence
• Proficient use of MS Office Suite
• Fluent in English; German and/or other language an advantage
• Advanced time management skills with the ability to execute tasks within tight deadlines.
• Ability to work and make decisions independently.