Anti-Money Laundering - Senior Associate

JOB DESCRIPTION

Functional Job Title:

Global AML Center (GAC) - Team Lead

Reports To:

Officer

Department

AML Global AML Center (GAC)

DESCRIPTION

The GAC department provides a Customer Identification Program (CIP) and Customer Due Diligence (CDD) service to State Street’s Business units spread across globally. The department is tasked with procuring Client Identification document, validating the requirements as per the requirement matrix. The team’s primary responsibility is to support the Business Units in onboarding the customers are per the agreed timeline and periodically review the existing customers as per their Risk Rating. We collaborate with FIU, Compliance, all Lines of Business Units and Quality Assurance team in order to comply by the AML policies and requirements.

The GAC team, which is based in Hyderabad, India, is responsible for collecting and analyzing client data, documents and publically available information on State Streets’ new and existing clients to comply with firm’s AML/KYC Policy and Procedures. The team is, further, responsible for ensuring that all existing clients of State Street are renewed in accordance with firm’s AML/KYC Policy and Procedures

RESPONSIBILITIES:

Responsibilities will include:-

• Provide technical and specialist support to the GAC Team.
  
• Liaise with the Quality Assurance team/management to ensure timely completion of client on boards.
• Step up and take up proactive actions to resolve issues for the benefit of the team or process.
• Ensure State Street AML/KYC Compliance Policy requirements are met and that CIP/CDD procedures are followed.
• Monitor and manage the completion of CIP/CDD documentation for all Customers in line with applicable AML Policies & Procedures
• Ensure CIP/CDD assessments are met using corporate compliance tools and methods prior to account opening are completed before account opening and on an on-going basis for all accounts
• To review the preparation of MIS, status reports for senior management etc.
• Thorough knowledge of SOPs/related check points. Should be a SME to the team.
• Identify opportunities for process efficiency and suggest for implemention in a controlled manner.
• Work both independently and as a team in a fast paced production environment.

REQUIREMENTS:

Education and Experience

• Graduate and above preferably in Finance
• 3+ years of experience in AML / KYC client on boarding / periodic reviews or compliance function will be added advantage.
• The ideal candidate must have high analytical, management and communication skills

Skills/Knowledge

• Possess good understanding on end to end KYC process.
• Ability to perform KYC reviews on different entity types, such as Trusts, Hedge Funds, regulated entities, SPV etc.
• Understanding of complex ownership structure.
• Should have good understanding of USA Patriotic Act and CIP.
• Should have good knowledge on World Check, Lexis-Nexis and negative searches.
• Knowing how to access Business information sources such as ORBIS, One Source, Bloomberg, etc., is an added advantage.
• Ability to interpret KYC policies, procedures and laws and put into practice
• Should be able to perform KYC reviews on High, Medium and Low Risk entities along with the EDD procedures
• Ability to engage with colleagues from different State Street sites and locally .
• Excellent organizational and administrative skills.
• Ability to support other staff and to participate in the process to ensure work is completed accurately and on time
• Ability to perform effectively to strict deadlines.
• Good Microsoft Excel and Word skills.

• Shit Timing: Fixed (6:00 AM -3:00 PM)
• Work Location: Bangalore

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