Anti-Money Laundering - Senior Associate

DESCRIPTION

The KYC Shared Services department provides a Customer Due Diligence (CDD) service to State Street business unites utilizing the KYC Share Services. The department is tasked with verifying the identity of customers of State Street business units, risk profiling those customers from a money-laundering  perspective completing money-laundering risk reviews and providing KPI and KRI reporting to Compliance and the businesses -CDD must be completed in accordance with State Street Anti-Money Laundering Compliance policies and process. CDD is completed on all clients, customers and accounts and sub-accounts (collectively “Customers”) of State Street.  This is a permanent position within the department in Bangalore.

RESPONSIBILITIES:    

Responsibilities will include:-

• Providing technical and specialist support to the KYC Shared Services team
• Ensuring State Street KYC / AML Compliance Policy requirements are met and that CDD procedures are followed
• Monitoring and managing the completion of CDD documentation for all customers in line with applicable KYC / AML Policies & Procedures
• Ensuring that all necessary screening takes place in line with the KYC customer matrix provided by compliance
• Notifying local management of operational issues.
• Ensuring KYC / Anti-Money Laundering risk assessments using corporate compliance tools and methods prior to account opening are completed before account opening and on an on-going basis for new accounts
• Managing and reviewing the preparation of MIS on customers’ CDD and  underlying investors
• Reviewing status reports for senior management

REQUIREMENTS:

Education and Experience 

• Graduate and above preferably in Finance
• Hands on experience on complete KYC process

Skills/Knowledge  

• Possess good understanding on end to end KYC process.
• Ability to perform KYC reviews on different entity types, such as Trusts, Hedge Funds, regulated entities, SPV etc.
• Understanding of ownership structure.
• Should have good understanding of USA Patriotic Act and CIP.
• Should have good knowledge on World Check, Lexis-Nexis and negative searches.
• Knowing how to access Business information sources such as ORBIS, One Source, Bloomberg, etc, is an added advantage.
• 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
• Ability to engage with colleagues from different State Street sites and  locally
• Excellent organizational and administrative skills
• 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