KYC Analyst

KYC Analyst

6 Months

London

One of our large Financial clients is looking for a KYC Analyst to join their team;

To act within the first line of defence, in the three lines of defence model. The role is designed to protect the Bank by identifying Financial Crime and Sanctions risks associated with the onboarding of new clients into the Bank, and conducting periodic due diligence on all existing clients, using a risk based approach.

• To ensure that the client information registered in the KYC systems are consistent and have been correctly completed. This includes any customers classifications required for regulatory purposes. The role will also ensure that the correct regulatory notices and customer communication have been stored and where necessary have been correctly acknowledged by the customer.
• To escalate and formally report any client, or client activity which appears to expose the Bank to any Sanction or Financial Crime risks to the second line for advice / guidance.

Background

• The function of this role is to process client KYC files, in relation to the onboarding of new clients into the Bank, and the amendment update and Periodic Review of the existing client population.
• This includes but is not limited to the investigation and documentation of the client's ownership structure and ultimate beneficial owner. The identification and investigation of any associated PEP's providing detailed rationale of their materiality and classification for approval by the MLRO. The examination and classification of negative news articles and the rationale for the classifications, including the ongoing monitoring of serious negative news articles. The checking and where necessary escalation of any sanctions related exposure, the purpose and nature of the engagement and the clients underlying business profile. The role will also be required to check and liaise with the Relationship Managers in regard to their KYB answers and the quality, consistency, accuracy and suitability of client documentation. The role will also need to review the risk calculations and consider its suitability, or whether a written representation should be made to the MLRO for a RAM override to more accurately reflect the client's perceived risk. Should the risk be deemed as high, the holder of the role will need to check the RM's enhanced due diligence assessment.

• Analyse FO submissions for new client onboarding or client periodic reviews, ensuring adherence to the CPD AML / CTF Standards, regulatory guidance and internal policies. Where necessary ensuring timely escalation to the relevant second line for further advice and guidance.
• Where required participate in the on the job training of new staff to the team, ensuring that they obtain a full understanding of the systems used as part of their role and the policies and procedures to be followed.
• Participate as directed in the remediation of files identified as requiring additional work by the Compliance Monitoring reviews, ensuring that the remediation is fully completed within the allowed timescale and any issues are escalated as soon as identified.
• Attend meetings with the Front Office teams as required, providing help and guidance in relation to KYC matters and where necessary working within the Front Office teams for short periods to assist RM's in the use of the systems or the completion of their tasks within the Periodic review process.

Skills:

• Good understanding of the regulatory framework associated with Financial Crime / Sanctions / AML and to keep abreast of the changes to this.
• Previous experience of working within a CDD team in a financial institution would be a benefit
• Externally recognised qualifications in relation to AML and Customer Due Diligence are desirable, but not a prerequisite (e.g. ICA Certificates / ACAMS)
• Excellent communication skills both written and verbal and the ability to communicate complex issues and regulatory requirements to all levels of the organisation.
• Ability to collaborate and work within a team, supporting others to ensure the overall team objectives are achieved.

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