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KYC Client Onboarding Vice President
Deutsche Bank
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
Operations:
Our Operations group provides support for all of Deutsche Bank’s businesses to enable them to deliver operational transactions and processes to clients. Our people work in established global financial centres such as London, New York, Frankfurt and Singapore, as well as specialist development and operations centres in locations including Bucharest, Moscow, Pune, Dublin and Cary. We move over EUR 1.6 trillion across the Bank’s platforms, support thousands of trading desks and enable millions of banking transactions, share trades and emails every day.
Our goal is to deliver world-class client service at exceptional value to internal partners and clients. A dynamic and diverse division, our objective is to make sure that all our services are executed in a timely and professional manner, that risk is minimised and that the client experience is positive. We are proud of the professionalism of our people, and the service they deliver. In return, we offer career development opportunities to foster skills and talent.
We work across a wide range of product groups, including derivatives, securities, global finance and foreign exchange, cash and trade loans and trust and securities services as well as cross-product functions.
Position Overview
Client Onboarding Vice President Job Description:
Deutsche Bank is a client-centric global bank. One that is leading change and innovation in the industry – championing integrity, sustainable performance and innovation with our clients, and redefining our culture and relationships with each other.
Before the Bank enters into a relationship with a client, it performs a number of due diligence activities to fully understand who they are and to clarify if they are the type of counterparty it wants to do business with. This activity is described as Know Your Client or KYC and is the primary focus of Client Data Services (CDS).
The KYC activities support a number of regulatory compliance requirements specified by our global regulators and provide a rigorous and robust process of investigation that seeks, with reasonable assurance, to verify and validate the customer’s identity and understand and test the customer’s profile, business and account activity. They also help to mitigate the bank’s reputational risk by verifying a client’s correctness and integrity, helping to prevent it from being used intentionally or unintentionally by criminal elements to support terrorist, money laundering or any other criminal activities.
Role Summary:
In accordance with Anti-Money Laundering Requirements, banks, such as Deutsche Bank AG (‘DB’), are obliged to perform Know-Your-Client (‘KYC’) reviews on all new clients they adopt. These checks and reviews are made in strict accordance with regulatory requirement and the bank’s internal policies. As an Operations Manager you will be responsible for leading your group of KYC Teams and providing support to each of your Team Leaders. You will also be acting as an escalation point and will represent the supervised KYC teams in front of senior stakeholders from the Business, AML/Compliance and other stakeholders.
Key Responsibilities:
Responsibilities/Tasks:
• Leadership and oversight of your KYC Team Leaders and their respective teams.
• Monitor metrics and implement solutions with your Team Leaders regarding any issues identified.
• Contribute to global performance metrics surrounding the KYC processes.
• Central point of contact for the assignment of KYC requests to the appropriate dedicated KYC teams.
• Regional/client segment point of escalation for the Team Leaders, KYC Analysts, internal/external stakeholders and AML investigations.
• Provision of reports/communications for key stakeholders group as required.
• Build and maintain strong working relationships with your KYC Director, Team Leaders, Lines of Business, Operations, Audit, Compliance, and Technology to ensure consistent quality delivery.
• Lead ongoing change initiatives and build/maintain a strong understanding of the relevant DB policies and regulatory environment.
• Ensure the appropriate and confidential handling / sharing of sensitive client data.
• Ensure all policies, procedures and guidelines are followed.
• Embed robust processes to adhere to DB best practice and to enable control and maintenance of quality.
• Encourage a positive and professional working environment
Experience/Exposure:
• A minimum of 8 to 10 years banking/financial services experience, including at least 5 years supervisory/management experience and 3 years KYC/Compliance experience.
• Excellent leadership, people management, coaching and project management skills.
• Strong ability to interpret amendments to regulatory guidance and assessment of the resulting business impacts
• Experience in raising awareness of project benefits, performance management and motivating teams to deliver quality/achieve project objectives in a challenging environment.
• A thorough understanding of the Control, Compliance and Investigation functions within the banking industry
• An awareness of AML/KYC regulations and industry guidelines (FSA, JMLSG, 3rd EU Money Laundering Directive, MiFID, US PATRIOT Act, US Bank Secrecy Act, US Foreign Corrupt Practices Act (FCPA) and UK Bribery Act)
• Understanding of the possible implications of financial sanctions on banks and financial institutions (OFAC, HM Treasury, EU and UN sanctions)
• Strong research background and Ability to understand the implications of financial sanctions on individuals/blocked person’s/Specially designated nationals (SDN’s) and risks of dealing with them.
• Ability to understand the risks of dealing with politically exposed persons (PEP’s) and regulatory expectations around dealing with PEP’s.
• An understanding of the possible implications of financial sanctions on banks and financial institutions (OFAC, HM Treasury, EU and UN sanctions)
• Strong knowledge of the end to end KYC and client on-boarding processes
• Excellent problem solving and analytical skills
• Effective communication skills at all levels and across all internal and external stakeholders groups
• Strong interpersonal skills, inclusive of conflict resolution and relationship management
Skills/Competencies:
• Customer service focused
• Proactive and self-driven
• Able to work well, apply sound judgment and make timely decisions under pressure
• Highly organized and agile
• Open minded, - able to share information, transfer knowledge and expertise to team members
• Fluent in both written and verbal English
Education/Certification:
• Bachelor’s degree from an accredited college or university (or equivalent)
For candidates applying for positions in the US:
Deutsche Bank is an Equal Opportunity Employer - Veterans/Disabled and other protected categories. Click these links to view the “EEO is the Law” poster and pay transparency statement.