Client Onboarding Life Cycle Management (Associate Director)

Compliance Professionals; London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player in wealth management is seeking a seasoned KYC Compliance Specialist. This role involves leading the onboarding process for Private Banking clients, ensuring compliance with regulatory standards, and conducting thorough risk assessments. The ideal candidate will have a strong background in AML, client review, and account approval, with a minimum of 8 years of relevant experience. You will collaborate with various stakeholders, provide training, and enhance onboarding controls. This is an exciting opportunity to make a significant impact in a dynamic environment focused on managing wealth for ultra-high-net-worth individuals.

Qualifications

• Minimum 8 years of experience in AML and client review in Private Banking.
• Strong understanding of AML/CFT framework and regulatory environment.

Responsibilities

• Lead and manage KYC profile for Private Banking clients.
• Review and approve new client onboarding requests and account approvals.
• Identify gaps and implement onboarding controls and enhancements.

Skills

KYC Compliance

AML Knowledge

Client Review

Risk Assessment

Investigative Skills

Operational Incident Handling

Education

University degree in Accountancy

University degree in Finance

University degree in Business Administration

Tools

MS Excel

Job description

THE COMPANY: We are working with an international Wealth Management Firm, who has offices across the globe and assists UHNI and Family offices to manage their wealth.

THE RESPONSIBILITIES:

1. Lead, manage and guide Private Banking clients’ account opening KYC profile in accordance with bank’s policy and regulatory expectations.
2. Ensure thorough, timely and quality review new client onboarding requests including account approval and sign off.
3. Approval and sign off of low, medium and high risk accounts.
4. Advise front office and other colleagues within the team on client onboarding matters including deficiencies in KYC information and documentation for onboarding.
5. Perform independent and thorough review, including KYC/AML/Tax risk identification, plausibility checks as well as corroboration of clients' Source of Wealth and Source of Funds.
6. Review and approve new business relationships with Independent Asset Managers, Referral Intermediaries, and counterparties.
7. Collaborate with key stakeholders involved in the process, viz, Relationship Managers, Team Heads, Market heads, Compliance, and other colleagues within the bank to ensure seamless onboarding.
8. Provide training to team members on matters pertaining to KYC AML.
9. Assist to respond to queries, clarifications resulting from internal, external, statutory or regulatory audit.
10. Identify gaps and implement onboarding controls including system and process enhancement that are fit for purpose.
11. Review client documentation by performing signature verification, version and completeness check.
12. Organize quarterly meetings and focus group training to align front office practices with current procedures.
13. Deliver regular progress reports to senior management.
14. Identify and investigate suspicious activity or transaction, prospect or client and make necessary recommendations to senior management.
15. Liaise with Relationship Managers for issues and deficiencies identified during review.
16. Update and implement periodic review processes.
17. Prepare monthly report based on the extraction provided by AML Exit desk and dissemination of the report to relevant stakeholders.
18. Provide support to FO teams to facilitate management approval.
19. When New Marketing Guidelines are to be implemented: Planning work to include Market penetration numbers, pipeline numbers, etc.; Lead the engagement with FO to provide any feedback as required by Compliance or Counsel, collaborate internally on implementing FO control and operationalization.

EXPERIENCE REQUIRED:

1. Minimum 8 years of experience in AML and client review and Account approval in a Private Wealth/Private banking industry - please do NOT apply if you do not have the relevant Account approval experience in Private banking/wealth management as the client is only considering this experience.
2. Must have experience of signing off and approving low, medium and high risk accounts (from a Private Bank or wealth management firm only).
3. University degree in Accountancy, Finance, Business Administration or equivalent, or higher education is preferable.
4. Knowledgeable and sensitive to the risks and suspicious activities.
5. Experienced in investigating suspicious transactions.
6. Experienced in handling operational incidents and operationalization of policies.
7. Strong understanding of AML/CFT framework and the regulatory environment and its applicability.
8. Familiar with MS Excel and preparation of statistics for reporting.

For further information please contact Hannah Tabatabai.