Onboarding Associate

Role

The Onboarding compliance specialist is a vital role within our organisation, responsible for conducting the customer onboarding process. This position requires a high level of diligence, analytical skills, and a deep understanding of KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations and experience onboarding different type of legal entities The ideal candidate will be proactive, detail-oriented, and committed to maintaining the highest standards of compliance and risk management.

Responsibilities

• Customer Due Diligence (CDD): Conduct thorough due diligence on new corporate entities, ensuring that all required information and documentation are collected and reviewed in accordance with AML internal policies.
• KYC (Know Your Customer) Verification: Verify the identity of customers by analysing provided documentation, such as passports, and business registration documents, to ensure compliance with regulatory requirements.
• Screening: Reviewing and carrying out PEP, Sanction and Adverse Media checks as necessary, ensuring ongoing checks are completed in a timely fashion and any false positives are recorded and escalated as required.
• Risk Assessment: Assess the risk associated with new customers based on various factors, including transaction history, business activities, and geographic locations, and communicate findings to management.
• Regulatory Compliance: Stay up-to-date with AML laws and regulations, ensuring that the onboarding processes align with the latest industry standards and legal requirements.
• Communication with Internal Teams and Sales Department: Collaborate with internal departments, including sales, legal, , and operations, to gather necessary information and address any concerns or issues related to customer onboarding.
• Documentation Management: Maintain accurate and up-to-date records of customer information, ensuring that documentation is complete, organized, and accessible for audits or regulatory reviews.
• Even driven reviews and periodic reviews: Request submission of documents from clients according to periodic review timelines and follow up to ensure complete and timely delivery, fill in relevant KYC forms – systems, and update client KYC profiles driven by material events such as change of client name, ownership or negative news, etc
• Advisory Support: Offer guidance to internal stakeholders, such as relationship managers and customer support teams, on AML onboarding requirements and assist in resolving any issues that may arise during the onboarding process.
• Ad hoc tasks: Support Due Diligence Manager for any ad hoc tasks
• Continuous Improvement: Identify opportunities for process improvement in the AML onboarding workflow, suggesting and implementing enhancements to streamline procedures and enhance efficiency.
• Training and Awareness: Provide training to new joiners on AML onboarding procedures and best practices and promoting a culture of compliance within the organization.

COMPETENCIES & EXPERIENCE:

• Experience: Proven experience in onboarding retail and corporate clients for at least 1 years with a financial institution
• KYC and AML Knowledge: A understanding of KYC law, regulations, compliance risk, non-financial risk, and documentation aspects of the KYC process. Sound understanding of how to establish and record Source of Funds / Source of Wealth.
• Risk assessment: Experience in conducting risk assessment on different type of legal entities and corporate structures would be advantage e.g., Funds, Charities, Trusts, Partnerships, Financial Institutions
• Analytical Skills: Strong analytical and organisational skills, with the ability to be a proactive and fast learner.
• Communication Skills: Excellent communication skills, both written and verbal, with the capability to document relevant information in a clear, structured, and comprehensive manner. Ability to build and maintain relationships with colleagues and stakeholders in an effective manner.
• Teamwork: A strong team player with robust work ethics.
• Resilience and Commitment: Resilient and committed with the ability to plan, prioritise, and work under pressure.
• Attention to Detail: Accuracy and diligence with a focus on delivering high-quality results within tight deadlines.
• Technical Proficiency: Command of MS Office applications and general computer proficiency.
• Motivated self-starter: Who can handle competing priorities and work effectively in a challenging, fast-paced environment