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- Tasks: Lead client onboarding and ensure compliance with KYC regulations.
- Company: Join a global Wealth Management Firm supporting ultra-high-net-worth individuals.
- Benefits: Enjoy competitive salary, remote work options, and professional development opportunities.
- Why this job: Be part of a dynamic team making a real impact in wealth management.
- Qualifications: 8+ years in AML and client review within Private Banking required.
- Other info: Opportunity to collaborate with senior management and enhance onboarding processes.
The predicted salary is between 54000 - 84000 £ per year.
THE COMPANY: We are working with an international Wealth Management Firm, who has offices across the globe and assists UHNI and Family offices to manage their wealth.
THE RESPONSIBILITIES:
- Lead, manage and guide Private Banking clients’ account opening KYC profile in accordance with bank’s policy and regulatory expectations.
- Ensure thorough, timely and quality review of new client onboarding requests including account approval and sign off.
- Approval and sign off of low, medium and high risk accounts.
- Advise front office and other colleagues within the team on client onboarding matters including deficiencies in KYC information and documentation for onboarding.
- Perform independent and thorough review, including KYC/AML/Tax risk identification, plausibility checks as well as corroboration of clients' Source of Wealth and Source of Funds.
- Review and approve new business relationships with Independent Asset Managers, Referral Intermediaries, and counterparties.
- Collaborate with key stakeholders involved in the process, viz, Relationship Managers, Team Heads, Market heads, Compliance, and other colleagues within the bank to ensure seamless onboarding.
- Provide training to team members on matters pertaining to KYC AML.
- Assist to respond to queries, clarifications resulting from internal, external, statutory or regulatory audit.
- Identify gaps and implement onboarding controls including system and process enhancement that are fit for purpose.
- Review client documentation by performing signature verification, version and completeness check.
- Organize quarterly meetings and focus group training to align front office practices with current procedures.
- Deliver regular progress reports to senior management.
- Identify and investigate suspicious activity or transaction, prospect or client and make necessary recommendations to senior management.
- Liaise with Relationship Managers for issues and deficiencies identified during review.
- Update and implement periodic review processes.
- Prepare monthly report based on the extraction provided by AML Exit desk and dissemination of the report to relevant stakeholders.
- Provide support to FO teams to facilitate management approval.
- When New Marketing Guidelines are to be implemented: Planning work to include Market penetration numbers, pipeline numbers, etc.; Lead the engagement with FO to provide any feedback as required by Compliance or Counsel, collaborate internally on implementing FO control and operationalization.
EXPERIENCE REQUIRED:
- Minimum 8 years of experience in AML and client review and Account approval in a Private Wealth/Private banking industry - please do NOT apply if you do not have the relevant Account approval experience in Private banking/wealth management as the client is only considering this experience.
- Must have experience of signing off and approving low, medium and high risk accounts (from a Private Bank or wealth management firm only).
- University degree in Accountancy, Finance, Business Administration or equivalent, or higher education is preferable.
- Knowledgeable and sensitive to the risks and suspicious activities.
- Experienced in investigating suspicious transactions.
- Experienced in handling operational incidents and operationalization of policies.
- Strong understanding of AML/CFT framework and the regulatory environment and its applicability.
- Familiar with MS Excel and preparation of statistics for reporting.
Contact Detail:
Compliance Professionals Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Client Onboarding Life Cycle Management (Associate Director)
✨Tip Number 1
Network with professionals in the wealth management and private banking sectors. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends in client onboarding and KYC processes.
✨Tip Number 2
Familiarise yourself with the specific regulatory requirements and compliance standards relevant to the role. This will not only enhance your understanding but also demonstrate your commitment to the field during interviews.
✨Tip Number 3
Prepare to discuss your experience with account approvals and KYC processes in detail. Be ready to provide examples of how you've successfully managed high-risk accounts and resolved issues in previous roles.
✨Tip Number 4
Showcase your leadership skills by highlighting any training or mentoring experiences you've had. This is particularly important as the role involves guiding team members and collaborating with various stakeholders.
We think you need these skills to ace Client Onboarding Life Cycle Management (Associate Director)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your relevant experience in AML and client review, particularly in the Private Banking or Wealth Management sector. Emphasise your account approval experience and any specific achievements related to KYC processes.
Craft a Compelling Cover Letter: Write a cover letter that directly addresses the responsibilities outlined in the job description. Use specific examples from your past roles to demonstrate your ability to lead client onboarding and manage KYC profiles effectively.
Highlight Relevant Skills: In your application, clearly outline your skills related to KYC/AML compliance, risk assessment, and your familiarity with regulatory environments. Mention your experience with MS Excel and reporting, as these are crucial for the role.
Showcase Leadership Experience: Since the role involves guiding and training team members, include any leadership or mentoring experiences you have had. This will show that you can not only manage processes but also develop others in the team.
How to prepare for a job interview at Compliance Professionals
✨Showcase Your Relevant Experience
Make sure to highlight your 8+ years of experience in AML and client review, particularly in the Private Banking or Wealth Management sector. Be prepared to discuss specific examples of account approvals you've handled, especially for low, medium, and high-risk accounts.
✨Demonstrate Your Knowledge of KYC/AML Regulations
Familiarise yourself with the latest KYC and AML regulations relevant to the wealth management industry. During the interview, be ready to discuss how you have applied this knowledge in your previous roles, particularly in identifying suspicious activities and ensuring compliance.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills and decision-making process. Think about past situations where you had to investigate suspicious transactions or implement onboarding controls, and be ready to explain your approach and the outcomes.
✨Emphasise Collaboration Skills
Since the role involves liaising with various stakeholders, it's crucial to demonstrate your ability to work collaboratively. Share examples of how you've successfully partnered with Relationship Managers, Compliance teams, and other departments to ensure seamless onboarding processes.
