KYC Analyst

Rainfall Ventures; Bengaluru; On-site; INR 600,000 - 900,000; Full time

Job summary

Qualifications

• Minimum bachelor's degree, preferably in business, economics, finance, or other technical disciplines.
• 1–3 years experience in KYC/compliance in financial services/banking.
• Experience with U.S. markets in fintech/banking sectors.
• Strong understanding of AML/KYC compliance, screening and financial crime.
• Experience with screening/data mining and using different search engines.

Responsibilities

• Identify, monitor, evaluate and address customer account actions to address potential risk, fraud or suspicious activity.
• Understand and manage KYC and AML processes.
• Support the origination and in-life management of deposits by handling due diligence during onboarding and reviews.
• Process applications through a workflow system within SLAs and compliance policies.
• Conduct enhanced due diligence on high risk customers, including evaluation of sources of wealth and intended use of account.
• Investigate suspicious clients generated by screening systems like WorldCheck and OFAC.

Skills

KYC compliance

AML risk assessment

Due diligence

Cross-functional collaboration

Education

Bachelor's degree

Tools

WorldCheck

OFAC list

Job description

About Novo

Small businesses are the backbone of the US economy, comprising almost half of the GDP and the private workforce. Yet, big banks don’t provide the access, assistance and modern tools that owners need to successfully grow their business.We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to banking platform for small businesses (SMBs). Novo is flipping the script of the banking world, and we’re excited to lead the small business banking revolution.At Novo, we’re here to help entrepreneurs, freelancers, startups and SMBs achieve their financial goals by empowering them with an operating system that makes business banking as easy as iOS. We developed modern bank accounts and tools to help to save time and increase cash flow. Our unique product integrations enable easy access to tracking payments, transferring money internationally, managing business transactions and more. We’ve made a big impact in a short amount of time, helping thousands of organizations access powerfully simple business banking.

Why Novo?

Novo is a rapidly growing series B fintech startup with a mission-driven team that’s passionate about helping every small business in AmericaPositive, inclusive, supportive culture cheering you on your journeyWe work with very new technologies and architecture patternsOffices in NYC and India

We are looking for a KYC Analyst who understands how to ensure that our platform can continue operating in an efficient manner while minimizing downside losses and reducing friction in the onboarding process. If you're passionate about working for a revolutionary early-stage startup, poised for rapid growth and expansion then we want to chat. Are you ready to revolutionize the small business banking industry with us?

About the Role

• Identify, monitor, evaluate and address customer account actions to address potential risk, fraud or suspicious activity.
• Understand and manage KYC and AML processes.
• Support the origination and in-life management of deposits by handling the Customer/Enhanced Due Diligence during on-boarding and in-life periodic reviews.
• Process all applications through a workflow system effectively, within agreed SLAs and goals, and in compliance with company policies and procedures.
• Perform due diligence checks on prospective and existing customers, such as requesting KYC information and documentation.
• Conduct enhanced due diligence on high risk customers, including evaluation of client responses to sources of wealth and intended use of account.
• Investigate identified suspicious clients generated by the screening system, such as WorldCheck and OFAC list.
• Analyze the AML/CFT risk of Politically Exposed Persons (PEP), adverse information, business exposure in high risk & sanctioned countries and escalate the issues to the Legal Team for approval.
• Follow internal policy and procedures when dealing with account related suspicious activity.
• Cross reference multiple databases for potential undesirable client matches.

Requirements for the Role

• Minimum bachelor's degree, preferably in business, economics, finance, or other technical disciplines.
• 1-3 years experience working in KYC/compliance related role in the financial services/banking industry.
• Background working in U.S. markets, in a fintech/banking sector, or both.
• Strong understanding of AML compliance, KYC due diligence, screening and financial crime.
• Experience with Screening/Data mining and using different search engines in prior role.
• An interest in financial crime and idea of digging deeper, looking into customer behaviours and identifying key characteristics of fraudulent users.
• Work on process improvements, conducting training and develop standard operatingprocedures.
• Ability to oversee critical analytics projects from end to end independently.
• Ability to think outside the box, work with limited data, and find solutions to unorthodox problems.
• Excellent written and verbal communication skills.
• Ability to work in a fast paced work environment and culture.
• Ability to thrive in an ambiguous environment and adapt quickly to changing priorities; focused on getting things done in a highly organized way.
• Ability to work cross-departmentally, without the need for extensive hierarchical corporate structure.
• An inquisitive and highly detailed oriented work ethic.

Novo values diversity as a core tenant of the work we do and the businesses we serve. We are an equal opportunity employer, indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information or any other protected characteristic.