Customer Due Diligence Associate

Description

BACB is a UK bank that offers trade finance and investment expertise to clients in specialist markets, especially Africa and the Middle East.

We have been helping businesses with trade finance and complementary products for over half a century, focusing on trade flows to and from Africa and the Middle East as well as real estate in the UK.

Our in-depth knowledge of the countries and practices where our clients operate ensures that we put them first.

Additional Info

• Hybrid Working: 3 days onsite, 2 from home
• Location: City of London
• Contract Type: Permanent

Job Summary

The CDD Associate is responsible for conducting customer due diligence when onboarding new clients, completing periodic/trigger reviews and ongoing name screening, in line with BACB policies, procedures and regulatory obligations.

The Associate must also work collaboratively with key stakeholders in both the first and second line of defence to ensure that BACB understands its customers, and customers’ business, and operates appropriate systems and controls in the prevention of financial crime and money laundering.

Key Work Outputs and Accountabilities

• Responsible for the management and accurate completion of customer files as allocated by Senior Associates within the team - New onboards, Periodic and Triggers Reviews & Ongoing screening
• Takes ownership and individual accountability of assigned cases
• Provides accurate and complete due diligence to Quality Control (QC)/Financial Crime Risk (FCR)
• Able to recognise and mitigate reputational and other compliance/financial crime risk triggers
• Conducting analysis and onboarding due diligence of case files
• Performing data quality controls, reconciliations and other checks in respect of customer data across various systems
• Obtains documentary evidence of all investigations and ensures effective record keeping in line with policy
• Reporting or escalating any concerns to FCR, the MLRO, or Head of CDD
• Uses appropriate case management tools and techniques to progress alerts in order to meet timescales for investigation
• Conducts in-depth analysis, risk assessment and due diligence and where necessary further investigation of information provided/obtained/requested
• Conducts in-depth analysis and investigation of sanctions, adverse media and PEP alerts, whether system generated or referred by other areas of the bank

Required Qualifications and Experience

• Minimum of two years’ experience within the KYC/AML/Financial Crime banking sector
• Previous experience of EDD/PEP (high risk) onboarding
• Experience of onboarding/reviewing a wide variety of client types, such as Financial Institutions, PLCs, Corporates, SPVs, Trusts, Funds
• Understanding of the UK regulatory environment with regard to financial crime prevention, sanctions regimes and other regulatory requirements (e.g., UK Money Laundering Regulations, JMLSG, FACTA/CRS, MiFID)
• Ability to work to deadlines with a high degree of accuracy
• Working knowledge of systems such as World-Check One (or other screening solutions), Bankers Almanac, SWIFT KYC Registry
• Experience of FACTA, CRS, MiFID onboarding requirement