Associate, Quality Control

MUFG Americas; City Of London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading financial services group in London is seeking a professional for KYC assessments and AML compliance. The ideal candidate will have over 3 years of relevant experience, excellent communication skills, and a proactive approach to regulatory challenges. This role involves leading quality control assessments to mitigate financial crime risks and develop training for junior team members. Flexible working options may be available.

Qualifications

• At least 3 years’ experience in Anti Money Laundering, fraud and bribery or Financial Crime roles.
• Experience with Investment Banking & the On-Boarding of Corporate entities.
• Experience of managing a KYC team or function is beneficial.

Responsibilities

• Conduct Quality Control assessments for KYC process.
• Support identification of thematic issues in On-Boarding.
• Train and develop junior team members.
• Act as Subject Matter Expert for AML On-Boarding.

Skills

Attention to detail

Excellent communication skills

Ability to manage large workloads

Knowledge of Anti-Money Laundering regulations

Strong problem solving

Education

Degree level or relevant industry experience

Tools

Microsoft Office

Job description

Overview

Do you want your voice heard and your actions to count? Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. MUFG has a global network with around 3,000 offices in more than 50 markets and employs over 180,000 people. The Group offers a wide range of services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. MUFG is committed to integrity, responsibility, long-term relationships, and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, MUFG puts people first, values diverse ideas, and fosters collaboration to drive innovation, speed and agility. We invest in talent, technologies, and tools to empower you to own your career. Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The Client On-Boarding team is part of the Client Management Services within the Corporate and Investment Banking Division of MUFG Bank. This function acts as a centralized 1st line support team, providing support to Investment Banking and Corporate Banking in EMEA, Capital Markets and MUFG Securities in London and Amsterdam.

Main purpose of the role

This individual will be responsible for conducting Quality Control (QC) assessments across new on-boarding, Periodic Reviews and Event Driven Reviews – including KYC and Regulatory Classifications. The Client On-Boarding Team covers a highly varied portfolio of circa 6,000 entities – ranging from simple listed customers to more complex structures, entities and product offerings. It will be key to understand all customers and assist the lead to design effective Quality Control programs, identifying and escalating risks appropriately.

This function is critical during both on-boarding and other reviews to ensure that the KYC process effectively mitigates the risks of Money Laundering, Bribery and Corruption, reputational risk and other associate risks. The successful candidate should have strong experience within KYC and a demonstrable knowledge of the AML/KYC environment.

Key stakeholders include Operational KYC counterparts, QA Counterparts, Financial Crime (2nd line of Defence), Front Office RM/Trader/Account Officers and Audit. The role involves working with stakeholders to standardize and clarify requirements and proactively identify future issues with procedures and processes. Driving forward and influencing change is essential.

This role may assist in developing and rolling out training related to requirements and roles for new and existing team members and relevant front office functions, to improve understanding of the process and underlying rationale for requirements.

Key responsibilities

• Ensure thorough and effective Customer Due Diligence by conducting Quality Control Assessments on entities/structures across all business lines (predominantly complex structures/entities/product offerings), including New Business, Periodic Reviews and Event Driven Reviews. Raise issues and ensure appropriate actions are undertaken before KYC approval.
• Identify thematic issues within the On-Boarding process and communicate findings to management with recommended actions.
• Liaise with Quality Assurance on issues identified within the QA process to assess impact and implement changes to the QC process as needed; notify operational leads of remedial actions.
• Liaise with the Financial Crime KYC team on issues identified within 2nd line checks/testing to implement changes to the QC process; notify operational leads of remedial actions.
• Support the lead to understand, challenge and implement changes to procedures.
• Assist in developing a suite of training for new and existing team members on all KYC/On-Boarding procedural aspects.
• Deliver training, where required, to front office representatives on KYC/On-Boarding procedural aspects.
• Deliver and support lean processes to improve the efficiency of the KYC process.
• Train and develop more junior members of the team.
• Act as a Subject Matter Expert for AML On-Boarding aspects and assist with ad-hoc queries.
• Support the QC Lead by producing relevant reports to key counterparties and resolving AML issues, providing guidance to junior staff.
• Stay updated on current trends in money laundering, bribery and corruption and its prevention.

Work experience

• Essential: At least 3 years’ experience in Anti Money Laundering, fraud and bribery or Financial Crime roles
• Essential: Experience with Investment Banking & the On-Boarding of Corporate entities (incl. Private Companies and SPVs)
• Beneficial: Experience of managing a KYC team or function

Skills and experience

Functional / Technical Competencies:

• Awareness of UK & European Anti-Money Laundering regulations
• Knowledge of various corporate structures
• Ability to communicate effectively to key stakeholders at all levels
• Attention to detail
• Ability to effectively utilize Microsoft Office (particularly Word and Excel)

Education / Qualifications:

• Degree level or relevant industry experience
• Relevant qualifications in Anti Money Laundering, fraud and bribery or Financial Crime roles (beneficial)

Personal requirements

• Excellent communication skills
• Results driven with strong accountability
• Proactive, motivated approach
• Ability to operate with urgency and prioritise work
• Strong decision making and sound judgement
• Structured and logical approach to work
• Strong problem solving and creative thinking
• Excellent interpersonal skills and ability to manage large workloads and tight deadlines
• Excellent attention to detail and accuracy
• Calm under pressure
• Strong numerical skills and excellent Microsoft Office skills
• Confident in providing direction to junior team members
• Strategic mindset with ability to lead and motivate the team

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and heard. We support equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our legal obligations.