Private Banking KYC
Posted 3 days ago by Europe Arab Bank
Negotiable
Undetermined
Undetermined
London Area, United Kingdom
Summary: The role of KYC Analyst at EAB Private Bank involves supporting the Private Banking department with Customer Due Diligence tasks for a temporary period of 6 months. The analyst will ensure compliance with the Bank's policies and procedures while performing due diligence on various client types. Responsibilities include collaborating with Relationship Managers, maintaining accurate KYC records, and adhering to AML regulations. The position requires vigilance in identifying suspicious activities and reporting them accordingly.
Key Responsibilities:
- Support the on-boarding of clients in accordance with the Bank's policies and procedures.
- Review PB client files regularly to meet KYC standards.
- Perform due diligence on PB client accounts, including Enhanced Due Diligence.
- Ensure accuracy and thoroughness of KYC records in the Bank's systems.
- Review and validate information within the Bank’s core system.
- Escalate discrepancies to the Relationship Manager.
- Meet targets for PB KYC reviews in terms of timeframe and quality.
- Act as the first line of defence for the Bank.
- Execute Financial Crime Prevention controls accurately.
- Track outstanding queries and issues to resolution.
- Interact proactively with the relationship management team and Compliance.
- Report unusual or suspicious behaviour to the MLRO.
- Maintain knowledge of regulatory and KYC requirements.
- Report breaches or suspicions to Risk and Compliance departments.
- Identify and escalate new risks/control gaps.
- Manage customer complaints in line with Bank's procedures.
Key Skills:
- 5 or more years in a Private Banking KYC role.
- Experience with High Net Worth (HNW) and Ultra High Net Worth (UHNW) clients.
- ICA or equivalent AML Compliance qualifications.
- Fluency in Arabic is advantageous.
Salary (Rate): undetermined
City: London Area
Country: United Kingdom
Working Arrangements: undetermined
IR35 Status: undetermined
Seniority Level: undetermined
Industry: Other
An opportunity has arisen within EAB Private Bank for the temporary assignment of an experienced KYC Analyst for a period of 6 months.
Role Overview: The purpose of this role is to support the Private Banking department in the completion of initial and ongoing Customer Due Diligence responsibilities ensuring compliance with the Bank’s Policies and Procedures to defined standards of timeliness and quality.
Duties & Responsibilities:
- Work with the Relationship Managers and support the on-boarding of clients (both Individuals and Non Personal/SPVs/Funds/Charities) as per the Bank's policies and procedures.
- Work with the Relationship Managers to review the PB client files on a regular basis as per the Bank’s KYC standards.
- Perform the appropriate due diligence (including Enhanced Due Diligence) on the PB client accounts (Both Individuals and Non Personal/SPVs/Funds/Charities…) by obtaining all required information from internal and/or external sources, carrying out media searches using open source websites, company websites, Banker’s Almanac, Lexis Nexis, and also system screening such as World Check etc.
- Ensure the PB KYC records, including information from internal and external sources obtained throughout the AML customer life cycle from on-boarding to periodic reviews, in the Bank's systems are accurate, thorough and up-to-date.
- Review and validate the information within the Bank’s core system to ensure completeness and accuracy.
- Escalate any discrepancies to the Relationship Manager for agreement on actions required.
- Meet agreed targets for the PB KYC reviews in terms of timeframe and quality.
- As part of the Private Banking team, act as the first line of defence for the Bank.
- Responsible for the accurate execution of Financial Crime Prevention controls in accordance with the Bank's policies and procedures as applicable to the role.
- Track outstanding queries and issues through to timely resolution.
- Ensure actions are tracked and monitored to support the delivery of accurate MI.
- Assist in departmental projects as required.
- Proactively interact with relationship management team, QA & Control Manager for PB, and Compliance.
- Being vigilant to unusual or suspicious behaviour by our customers and to report any suspicion to the MLRO.
- Ensure adherence to the Bank’s AML, Financial Crime and Anti-Terrorism policies and procedures.
- Maintain knowledge of all applicable regulatory, KYC requirements including the Bank’s Risk and Compliance policies and procedures and adhere to these to avoid exposing the Bank to undue risk.
- Report policy, procedure and/or regulatory breaches or suspicions to the Risk and/or Compliance departments in line with the Bank’s policies.
- Accurately execute all controls within own area to minimise risk of policy, procedure, and/or regulatory breaches.
- Identify new risks/control gaps and escalate accordingly to your Line Manager and/or Head of Department.
- Ensure customer complaints are managed in line with the Bank's procedures.
Qualifications, Skill & Experience Required:
- 5 or more years in a Private Banking KYC role essential
- Experience with HNW & UHNW clients essential
- ICA or equivalent AML Compliance qualifications advantageous
- Arabic fluency advantageous