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KYC Officer

New York, NY 10004 US

Posted: 12/14/18 Employment Type: Direct Hire Industry: KYC Analyst Job Number: 12505
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Primary functions


q  Responsible for the overall KYC regulatory compliance within the Bank.


q  Maintain a Customer Identification Program (CIP) for onboarding and existing clients.


q  Perform Customer Due Diligence and Enhanced Due Diligence on new and existing clients.


q  Review of KYC documentation to ensure all necessary requirements are fulfilled according to KYC Standard Operating Procedures/Policy.


q  Maintain records of KYC reviews to ensure requirements are completed within a timely manner in accordance with KYC Standard Operating Procedures/Policy.


q  Ensure compliance to various regulations and guidelines that are issued by local regulatory authorities (including compliance to various regulations that relate to anti money laundering and terrorism financing).


q  Study new and revised guidelines that are issued by domestic / international non-regulatory agencies such as FATF, Basel, and Wolfsburg etc.; liaise with Head Office-Compliance and execute/implement the requirements according to the decision at HO and after the approval of AML Committee.


q  Support branch operations by providing compliant solutions to regulatory requirements and intervene where necessary to stop a transaction / process / business proposal.


q  Pro-actively escalate critical issues (compliance/regulatory) to branch Management / AML Committee and Head Office – Compliance, so that timely actions are taken; and bank is not investigated, charged, fined or publicly castigated by any regulatory authority.


q  Responsible for initiating money laundering related investigations and drawing conclusion and initiating Suspicious Activity Report to the regulatory authorities, if approved by AML Committee.


q  Evaluate, train and motivate branch to enhance their skills and knowledge of Anti Money Laundering, compliance and regulatory matters. Document and record details of trainings provided (training(s) to centralized processing staff should be arranged through Head Office Compliance –who will be responsible to impart such trainings upon request of compliance).


q  Conduct special investigation on the request from Head Office, branches and Other Regulatory Bodies in liaison with Head office-Compliance.


q  Ensure that AML & Compliance related Standard Operating Procedures and processes are followed at branch & centralized processing department and are kept up to date in respect of applicable regulations.


q  Ensure that all internal audit reports, those are conducted in the branch relating to Regulatory Compliance are retained, reviewed and that an action plan on the audit observations is properly executed / regularized within the deadlines. This function needs to examine and evaluate the adequacy and effectiveness of internal controls/audit in line with local regulatory requirements to ensure ARCG audits covers all the functions of the branch and meet all the control requirements of various legislations and regulatory guidelines.


q  Ensure all regulatory recommendation/observations that are raised in periodic examinations are regularized in timely manner; in case of need matter should be escalated to Head Office-Compliance.


q  Perform additional tasks / Conduct Compliance related investigations as required / determined by Head Office, identifying any issues / concerns and report findings/recommendations for corrective action as required.

Ø  Assist Branch MLRO, Head Office Compliance and Branch Management in attaining compliance objectives.


Ø  Maintain ongoing awareness/current knowledge of all applicable internal / external regulatory requirements –identify issues that could impact the branch / bank and escalate any serious issues/ breaches/ violations to Head Office-Compliance and Branch Management; develop/monitor action plans for its closure in liaison with Country Manager and Head Office-Compliance.


Ø  Review new regulatory legislations; promptly communicate all regulatory notices/circulars to all concerned areas, provide interpretations if necessary to Branch management and HO-Compliance; develop/monitor action plans towards its implementation.


Ensure continuing compliance of branch processes/systems/products -review branch procedures, service level agreements etc. in line with various regulatory

Ø  legislations & guidelines; where deficiencies are detected, make recommendations to Country Manager and HO Compliance in order to bring procedures / processes in line with the requirements.


Ø  Manage Regulatory Examinations; ensure implementation/regularization of inspection / audit recommendations and observations with the deadline(s). Keep Country Manager/ HO Compliance updated.


Ø  Respond to queries that are sought by local Regulatory Authorities / Law Enforcement Agencies / Head Office & Overseas branches relating to local laws/regulations, in timely manner with complete and accurate information.


Ø  Arrange to receive all local regulatory circulars and notices (from Compliance perspective) by subscribing to them; ensure that these are made available to every employee at the branch. Update Country Manager/ HO-Compliance.


Ø  Submit monthly Compliance-MIS to IBG-Compliance; ensure capturing of compliance related issues those are resolved and pending.


Ø  Highlight risks proactively and in a timely manner and keep a vigilant eye on branch activities to identify any unusual activity.


Ø  Operates in a strictly regulated environment and requires in-depth knowledge of various local regulations.

Ø  Sound knowledge of banking practices & laws, Bank’s policies / procedures / systems & controls in Branch.

Ø  Responsible for monitoring compliance and supporting Branch Management / HO – Compliance in institutionalizing a strong Compliance Culture.

Ø  Maintain cordial and professional rapport at all times and good interactive relationship with key personnel across all areas of the Bank.

Ø  To develop excellent working relationships with the Branch Management, Departmental Managers, other Officers in the Branch without compromising on independence and professionalism.

Ø  Analytical thinking and educative judgment on regulations and their branch wide implementation.

Ø  Clear understanding of business transactions, initiatives and relationship requirements with close coordination with relationship team without losing focus on risk, regulations and control issues.

Ø  Ability to assess the gravity and sensitivity of transactions and act accordingly – appropriate ‘decision-making’ ability is required.

Ø  Contribute in the development of product, systems policies and procedures related to compliance and AML at branch level.

Ø  Perform investigations and raise SAR as the branch MLRO in line with the policies / procedures and applicable regulations.

Ø  Maintain and develop relations with various Business Units and Regulators.

Ø  Responsible for administrative and office support.

Ø  Graduate with 7 – 10 years banking experience.

Ø  Good understanding of local regulatory rules and regulations.

Ø  Knowledge and Understanding AML Law and various Banking legislations.

Ø  Computer literate and good command over spoken and written English

Ø  Good presentation skills

Ø  Efficient and logical approach to problem solving.


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Matt Eidlen

Matthew Eidlen has more than 10 years of recruitment and temporary staffing experience. He is a graduate of The College of Staten Island/City University of New York with a major in Economics and Marketing. He has developed an expertise in recruiting talent in the areas of compliance, mortgage services, litigation support, and all areas of operations and risk. He provides both temporary and direct hire recruitment services. He provides temporary staffing and permanent recruiting services to our expanding client base.
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