KYC Associate Job Description

KYC Associate Job Description

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KYC associate provides assistance and support as required by Manager, KYC/AML and the EDC team to ensure the maintenance of KYC/AML standards and policy compliance in accordance with the legal and regulatory obligations set by CME Group’s Compliance division.

KYC Associate Duties & Responsibilities

To write an effective KYC associate job description, begin by listing detailed duties, responsibilities and expectations. We have included KYC associate job description templates that you can modify and use.

Sample responsibilities for this position include:

Perform the required KYC screening on clients by documenting and corroborating the information obtained on the client as required by the KYC procedures, utilizing a variety of independent research sources
Analyze client data, documentation and negative news in order to determine the client risk profile as established under the firms KYC procedures
Collaborate with the Client Onboarding Team and Financial Crimes team, locally and globally
Be responsible for reviewing and ensuring the required AML/KYC Regulatory requirements are met
Liaise with Compliance on specific requirements and regulations arising under special circumstance
Liaise with Credit, Legal, Front Office, Client Onboarding and the Clients as a necessary part of the KYC process
Perform Client Rolling Reviews
Process, analyze and document FinCEN 314(a) OFAC and Urgent List searches
Prepare and document suspicious wire activity
Prepare SAR narratives

KYC Associate Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for KYC Associate

List any licenses or certifications required by the position: CAMS, KYC, AML, ACAMS, CFE, PMI

Education for KYC Associate

Typically a job would require a certain level of education.

Employers hiring for the KYC associate job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Business, Finance, Graduate, Accounting, Military, Economics, Management, Law, Education, Criminal Justice

Skills for KYC Associate

Desired skills for KYC associate include:

Multiple client types
KYC/Compliance/AML procedures and standards
Financial industry with in-depth expertise in various lines of business
Global Custody
Securities
Cash
Escrow
Derivatives
Loans
Collateral

Desired experience for KYC associate includes:

Support client onboarding and adoption of clients
Facilitate the AML Risk Assessment process
Collect due diligence information from the client and the business groups we support
Follow approved QA procedures with reviews
Complete work within timeframes defined within related SLAs escalating any quality or timeliness issues to Manager for follow-up
Knowledge management for KYC policy and procedures

KYC Associate Examples

1

KYC Associate Job Description

Job Description Example
Our company is looking for a KYC associate. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for KYC associate
  • Establish the client’s information and ownership hierarchy
  • Understand the regulatory status and business conducted by the client
  • Kick-off renewals and liaise with Sales for required documents and sign-off
  • Review all KYC entries / records and liaise with the on-boarder for any issues or questions
  • Conduct due diligence research on current and potential clients, entities and interested parties
  • Fulfill various research requests including news runs, preliminary background inquiries and stock and company research
  • Manage the firm's various subscriptions
  • Pay invoices related to subscriptions
  • Maintain the physical library within the firm
  • Updating procedures as and when needed
Qualifications for KYC associate
  • Experience in managing small teams would be desirable
  • Capturing and reporting all metrics/KPIs for the KYC/ONB team
  • Performing quality audits are performed and tracking all follow-up actions
  • Performing all Compliance testing in a timely and accurate manner
  • Responding to decentralized teams questions and documentation requests
  • Ability to effectively work with Business Lines, other Operations teams, Compliance
2

KYC Associate Job Description

Job Description Example
Our growing company is hiring for a KYC associate. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for KYC associate
  • Ensure on-boarding and client name/ownership changes are completed in adherence to policy and within specific timeframes
  • Responsible for reporting on specific client on-boarding and refresh metrics
  • Deliver a high standard of service to the customer needs
  • Monitor and analyze production reports
  • Development and execution of strategies aimed at improving Hub performance
  • Project-manage the execution of the MIS reporting development plan in coordination with Ops, Business and Technology stakeholders
  • Create and maintain MRM deck
  • Validate accuracy of data and ensure completeness of client information documentation
  • Validate client documentation is accurate and uploaded into the KYC record system
  • Confirm client screening and follow up for additional approval for PEP’s
Qualifications for KYC associate
  • Able to lead, coach and advise more junior team members
  • Familiarity with regulations
  • Project management skills and ability to manage multiple responsibilities and work streams required
  • Retail mutual fund or hedge fund experience
  • Lead the morning call for daily prioritization
  • Perform Periodic Review and manage the work performed by Service delivery Center in off shore location
3

KYC Associate Job Description

Job Description Example
Our company is growing rapidly and is looking for a KYC associate. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for KYC associate
  • Support creation of executive level presentations on strategy, budget, delivery, risks
  • Develop Operational Readiness Review and checklists to ensure the business has the right resources in place to successfully sustain operations
  • Work closely with Business partners, Operations, Regional COB teams and Compliance to complete KYC
  • Identify the customer/s and other relevant third parties for a proposed relationship
  • Strive to maintain the quality line for Quality Assurance of a minimum of 95% pass rate
  • Keep informed of any changes to processes and procedures, regulatory change and ensure open verbal dialogue with colleagues in other Regions
  • Liaise with the Relationship Managers, Client Integration Officers and Quality Assurance teams to facilitate knowledge sharing and ‘best practices’ to the wider group
  • Manage various strategic programs, on an as needed basis
  • Manage the client on-boarding request, prepare full set up KYC package in terms of local rule and global policy, performing due diligence, KYC documentation collection and the risk assessment of the Client, liaising with the Business/Compliance, advising on KYC requirements for new client adoptions
  • Assist COB team lead in carrying out projects of KYC
Qualifications for KYC associate
  • Ensure Business Continuity Management functions are compliant
  • Coach the junior member in the team (regardless onshore and offshore), promote a client centric with high discipline, tight control environment
  • Strong communication skills both written and oral via various media e-mail, phone, face to face and conference calls
  • Experience of KYC management systems competency in Excel, Word, (Access an advantage) and PowerPoint
  • Manage small projects or other program initiatives, with moderate to low supervision
  • Capture and communicate lessons learned from a project and apply them to future business requirements
4

KYC Associate Job Description

Job Description Example
Our company is hiring for a KYC associate. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for KYC associate
  • Tracking performance, measuring and reporting conducting formal performance reviews on metrics
  • Key stakeholder management, locally in Singapore and beyond
  • Review of existing procedures end to end and bringing them up to new standards
  • Ensure all Procedures incorporate FAQ, KYC Bulletins, Requirements & Standards
  • Manage updates to Procedures as it relates to Operational Change Releases and feedback loop from QC/QA
  • Collaboration with Compliance, Policy and other Senior Stakeholders for feedback/approval to ensure appropriate procedure governance standards are followed
  • Develop a strong working relationship with SME’s from all KYC teams including AML Compliance, Quality Assurance and other COB Global team members
  • Performs quality evaluations on defined samples of completed KYC Due Diligence work product
  • Monthly BCC statistics
  • Manage the onboarding queue management
Qualifications for KYC associate
  • Assist in creation of detailed UAT plans and scripts
  • Knowledge of AML, CIP, EDD and KYC regulatory requirements
  • Ensure all new client relationships have undergone the appropriate client identification screening (KYC) prior to opening a new account and entering into trading and loan transactions
  • All existing clients KYC is refreshed on periodic basis and necessary escalation is performed
  • The critical piece of KYC for wealth is validating the client profile/biography & source of wealth which is provided by Sales
  • Ability to perform hands on task related to KYC and account opening (Including working with sales on information and documents, update system with relevant details, perform checks, validate & upload documents, manage pipeline for new accounts and KYC rolling review- KYC refresh)
5

KYC Associate Job Description

Job Description Example
Our growing company is looking for a KYC associate. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for KYC associate
  • Pipeline reporting/metrics
  • Advise Front Office on the onboarding requirement in accordance to Bank’s AML/KYC standards and regulatory requirement, and partner with Front Office to meet the requirement
  • Review and corroborate KYC information submitted by RM, perform an independent review and risk rate customer in accordance to regulatory requirement Group AML/CFT policy and procedures
  • Follow up with Front Office (RM & ARM) and other stakeholders on KYC related matters and for escalated / prioritised cases
  • Assess and ensure the relevance and completeness of KYC information supplied by Front Office and perform appropriate due diligence checks and information searches to comply with bank standards of client onboarding
  • Highlight deficiencies, suspicious AML or other non-compliance issues to relevant parties and management
  • Prepare reports for management reporting to facilitate relevant reviews and strengthen the control procedures and process
  • Train the Front Office on client documentation and KYC related subjects
  • Coach the junior team members and provide guidance in exception handling
  • Involve in projects for new processes or industry initiatives, and internal / external audits
Qualifications for KYC associate
  • Identify system enhancement focusing on controls and efficiency and work with the IT teams to implement
  • Face Internal & external Auditors and have good understanding of process to provide process walkthrough and samples
  • Ability to fluently speak Cantonese or mandarin is a must as this role will involve interaction with local sales based out of Hong Kong
  • Well versed with the KYC requirements as suggested by MAS and other major Asia regulators
  • Ability to understand different risk types associated with Clients (Individuals, Private companies, corporation)
  • Flexible and quick to adopt change in policies, systems and requirements

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