Client Verification Team Junior Specialist (KYC Analyst/Reviewer/Screening)

The incumbent will play a pivotal role in ensuring strict compliance with anti-money laundering and sanctions guidelines, all relevant/related regulations and internal guidelines.

Performance of Client Verification (KYC) Analyst specific responsibilities as defined within the global Client Lifecycle Management (CLM) procedure, Global Screening procedure and WLF Screening of clients procedure (and respective local addenda) under the guidance and supervision of Head of Department.

Account Administration

Performance of account opening and maintenance of account documentation for Corporates and Financial Institutions including reviewing and verifying customer documentation for account opening. Updating of customer data, signing mandates and ensuring completeness of customer files. Position is responsible for the ongoing review of the account opening procedures and documentation updates and recommendations for process enhancements where applicable. Updating and maintenance of static data in the Bank’s core system and signature verification are additional tasks of this role.

Key activities:

General

• Understand and comply with CTS Code of Conduct
• Understand the Global Client Lifecycle Management (CLM) procedure, Global Screening procedure and WLF Screening of clients procedure (and respective local addenda)
• Understand CTS structure, client coverage/segmentation and products/services offered to clients in international Commerzbank locations
• Perform assigned tasks as part of the on-boarding, regular and event-driven review, account opening, account closure and off-boarding of Corporate Clients and NBFIs
• Review and assess quality of initial (potential) client data provided by Client Owner(s) / Business Unit(s)
• Perform validation of completeness and accuracy of mandatory KYC documentation and information provided by Client Owner(s) / Business Unit(s)
• Verify information and documentation provided by the Client Owner(s) / Business Unit(s) including but not limited to client’s identity, Beneficial Ownership and Bearer share information
• Track and follow-up on documentation deficiencies and perform escalations of non-receipt of documentation in a timely manner
• Conduct screening on clients, beneficial owners, associated parties, legal representatives, authorized signers/traders and others as defined by the CLM procedures
• Perform disposition of screening results; Request further information and perform escalations as required
• Perform adverse news screenings and disposition of results; Request further information and perform escalations as required
• Perform assigned tasks as part of on-going (manual and/or system-based) screening process incl. alert clearance in respective system
• Ensure discrepancies that arise between the information obtained from the customer and information obtained during the verification process are resolved in cooperation with Compliance prior finalization of on-boarding /review
• Determine Customer Risk Rating (CRR) based on global CRR methodology owned by Compliance
• Perform manual overrides of calculated Customer Risk Rating as authorized by Compliance
• Ensure the appropriate level of Due Diligence is applied to the Client during onboarding and review
• Provide support in account opening and closure
• Ensure Client data elements and Due Diligence checks are properly captured/documented in appropriate CLM systems
• Process changes to client’s KYC data upon receipt and ensure proper documentation of performance
• Liaise with Client Owner(s) and Compliance to clarify questions and resolve issues as they arise
• Escalate issues to Local Head of CVT and guidance as required
• Review, investigate, communicate and escalate if required issues identified during the KYC process
• Support initiatives related to regulatory landscape changes, system enhancements or updates
• Provide support in remediation reviews
• Miscellaneous responsibilities as required

Account Admin

• Ensure compliance to AML, Sanctions, KYC policies, procedures and regulations
• Responsible for timely creation and maintenance of static data (clients, counterparties, SSI’s)
• Ensure daily processes executed according to ComRules, published workflows and guidelines.
• Ensure internal controls within processes executed effectively
• Work in close cooperation with the business and Compliance to ensure complete documentation is received for the timely creation of client accounts in the relevant system(s)
• Follow-up on pending (client related) documentation and submit regular status report on discrepancies (when necessary) to Management.
• Responsible for maintenance of client account opening documentation files in relevant system(s)
• Provide recommendations on work processes/procedures to enhance work efficiency and operational controls
• Assist with any other duties or projects as assigned by Local Head of Department.

Education:

• College degree in a Business-related / Banking / Finance discipline or similar education
• Completed apprenticeship / training in the financial industry or similar experience
• KYC / Compliance Certification preferred

Specialist knowledge (work experience, further qualification):

• At least 1 years professional experience in Client On-boarding (KYC) and/or Account Admin operations and Anti-Money Laundering functions at a large financial institution
• Working experience in an international environment is a plus
• Advanced knowledge of Financial Crime prevention, local and international sanctions and KYC
• Well versed with respective global / local regulatory requirements and market practices
• Adhere with all internal and external laws, policies, and guidelines e.g. ComValues, Culture of Integrity, Code of Conduct, ABC Policy, TRM etc.
• Ability to review and understand business and legal documents required for KYC process
• Experience in conducting screenings and handling of potential hits to adverse news, designated sanctions targets and prohibited persons lists
• Proficient use of MS Office Suite
• Fluent in English; is an advantage
• Excellent analytical, oral and written communication and interpersonal skills
• Strong attention to detail
• Advanced time management skills with the ability to execute tasks within tight deadlines
• Ability to work autonomously
• Good attitude to sharing responsibilities and conferring with colleagues
• Active participation in day-to-day operations
• Resourceful with good motivational and conflict management skills