Recommend Corporate Banking Department (CBD) policies and procedures to enable CBD’s compliance with Know Your Customer (KYC) requirements. Provide guidance and training to CBD business team and Relation Managers (“RM”). Assist RMs to conduct KYC onboarding due diligences and KYC reviews. Monitor and assess CBD’s KYC end-to-end process and quality. Managing compliance risks associated with CBD business activities and take proactive responsibility and accountability in identifying, assessing, monitoring, controlling, and reporting the risks as the 1st Line of Defense.
1. Policies, Procedures, Controls and Training：
• Understand KYC program requirements and regulatory KYC expectations;
• Review and update CBD KYC-related policy and procedures for compliance with corresponding regulatory requirements and applicable Branch-level KYC policies;
• Communicate with Legal and Compliance Department (LCD) on behalf of the business teams of CBD to ensure the CBD’s KYC procedures enable compliance with regulatory requirements and LCD policies and procedures;
• Provide clear guidance to Relationship Managers (RMs) with respect to the KYC policies and procedures;
• Design CBD KYC controls to help ensure compliance with KYC requirements and policies;
• Define KRIs and standards for CBD KYC process execution;
• Develop and/or conduct business-side KYC training to ensure the RMs in CBD are adequately trained and informed about bank’s AML/Countering the Financing of Terrorism (CFT) policies and procedures.
2. KYC Onboarding Due Diligence and Reviews：
• Assist RMs with KYC due diligence collection from the customers;
• Prepare the appropriate KYC records, including the completion of the KYC questionnaires and Customer Risk Rating (CRR), and serving as a back-up to RMs for World-Check screening of the customer name, tracking KYC approval progress and following-up with LCD on any outstanding items;
• Work with RMs to obtain a completed Request for Information (RFI) or equivalent from the customer, with RM serving as the customer’s primary point of contact;
• Follow up with the KYC approval progress and help resolving any issues found during the process by 1st or 2nd LOD KYC reviews;
• Work with RMs to conduct periodic KYC file reviews according to LCD’s CRR-based review schedule, and update customer information and CRR as needed;
• Assist RMs to update customer files and CRR, as needed, when notified by the RM of ad hoc changes to customer information and/or product usage.
3. KYC Process Monitoring and Reporting：
• Continuously assess effectiveness and sustainability of the CBD KYC process end to end, from onboarding/approval to periodic or event-driven review, and drive improvement;
• Identify and assess the risks present in KYC files under review; escalate to CBD leadership and LCD as appropriate.
• Prepare weekly KYC activity tracking reports, as well as monthly and quarterly KYC segments of CBD monthly and quarterly reporting;
• Prepare CBD compliance risk KRI regularly and communicate with LCD or other department as needed;
• Prepare breach report with detailed analysis and management plan, follow up with progresses and make sure breach is remediated within the timeframe.
4. Compliance Risk Management
• Follows Branch-wide compliance risk management policies and procedure and performs risk management activities on behalf of CBD;
• Provide input for CBD compliance risk management policies and procedures;
• Perform compliance risk assessment for CBD;
• Support LCD conducting compliance risk related testing;
• Prepare compliance risk related reporting on a regular basis;
• Other regular and ad hoc compliance risk management activities of CBD;
• Work with LCD and other department and participate compliance risk and KYC related systems design, business requirements, UAT and implementation.
5. Other Assigned Tasks:
• Be familiar and comply with the applicable regulatory and Branch’s policies and procedures etc.;
• Assist CBD teammates with the various KYC and client onboarding projects as requested;
• Participate in Branch-wide KYC and compliance risk projects as requested;
• Other ad-hoc tasks assigned by team leader and department head.
Education and Experience Requirements:
• A Bachelor’s degree in compliance, economics, finance, marketing, accounting or related fields;
• Minimum 5 years of KYC or compliance experience.
• Excellent interpersonal skills and ability to interact and build relationships with internal and external stakeholders;
• Experienced in task planning, delegation, progress monitoring and evaluation;
• Experienced in problem identification and solving;
• Experienced in handling and prioritizing multiple tasks;
• Familiar and experience with MS Office system (especially PPT, Excel, Word, etc.);