Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
KYC team ensures an environment where particular client is complying with the CDD guidelines. They perform the checks on the population managed by On-boarding teams globally and are responsible to have most updated documentation / information updated for clients maintaining relationship with Bank of America
The purpose of the job is to report and analyze data around completeness and accuracy of the “Know Your Customer” data and information that is collected on our clients and to ensure compliance with Anti-Money Laundering policies and procedures. In addition, this job is to ensure that the appropriate Risk related activities are preformed based on the analysis of that client data and in accordance with AML policies. This information is critical in our efforts to comply with internal risk avoidance efforts and external compliance requirements.
- Effectively manage processes for the client, ensuring a high level of operational delivery to customers. Maintain day to day client relationship activities and provide input, preparation and support to team members
- May provide recommendations to ensure that the process (from preparation to approval) is equipped with the appropriate checks and balances to ensure accuracy.
- Serves as the escalation point for issues regarding client profiles, keeping leadership apprised of potential areas of concern. Collaborates with internal stakeholders from other functions to help coordinate AML/KYC/Prevention procedures and policies in overall compliance strategy
- Communicates with internal stakeholders like Global Financial Crime, MLRO’s and external stakeholders like sales/FLU to resolve any issues in the course of client Onboarding
- Review Complex client structure and provide guidance to the AML Ops team to ensure all requirement are accurately met. Maintain a current understanding of global issues, risk and events that could affect a client risk level.
- Provide on-the-ground expertise on Client Due Diligence requirements (global jurisdictions) as well as Quality Assurance Process. Day to day ongoing coaching deliver and Review QA/QC results from Quality Control team associates and address the team’s training deficiencies noted
- Keep Leadership apprised of up to date status of Legal Entities and which may go for potential escalations and Reporting of issues of concern to Operations Support, Senior Leadership
- Oversee the work of Team to ensure it of the highest Quality standards, ensure that the team operates efficiently adheres to Policy & Procedures
- Serve as a first point of contact in an event of any Query comes from regulatory/internal control audit team
- Raise Rebuttal request on the system portal post discussion with team member in case of any incorrect defect marked by Internal Quality Team
- Demonstrate flexibility to manage activities across sites as required and Manage client and cross site team contacts effectively
- Lead/Share insights and subsequent action plans on daily/weekly/monthly calls e.g. operations call, Risk Call, Productivity calls, etc.
- Taking exceptional calls where there is a challenge in obtaining the requirement from client and also help with the 4 – eye check
Education : Any Graduate
Certifications : Relevant AML certifications
Experience Range : 10-12 Years Relevant Experience in AML/KYC/CDD in similar function.
Foundational skills : In depth knowledge of AML / KYC requirements, Knowledge of AML/CTF and Sanctions is essential
- Must be working in a similar role with in the Banking and Capital Markets Industry
- Knowledge of various corporate structures e.g. Funds, Trusts, Partnerships, SPV’s, Complex Structures, SPF/PEP, Negative News, etc.
- Advanced communication and presentations skills
- Problem solving and Decision-making skills
- Focus on quality along with an ability to read, understand and adhere to procedures.
- Should have the appropriate communication skills to deal with the complex and rapidly changing situation
- Participate in most conversations and discussion on variety of topics related to AML/KYC
- Provide support to all the members across sites through mentoring
- Familiarity with Global Banking and market products and knowledgeable of regulatory environment, risk framework, policies & standards.
Work Timings: 12:30 pm – 9:30pm
Job Location: Gurugram
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