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Anti-Money Laundering - Senior Associate
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Who we are looking for
The KYC Operations team primary role is to support Business Units in the timely and accurate delivery of the end-to-end AML / KYC process for onboarding new customers / accounts, completion of periodic reviews and event driven reviews of existing customers / accounts to comply with State Street's AML Policy and Standards.
Why this role is important to us
The team provide Customer Identification Program (CIP), Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) services to State Street’s Business Units globally.
The KYC Team is tasked with collecting and analysing client data, documents and publically available information on State Streets’ new and existing clients, including the screening of entity names against various sanctions lists and performing the Customer Anti-Money Laundering risk assessment.
Within quality assurance tasks KYC Team aim to minimise regulatory, monetary and reputational risk by ensuring accuracy and completeness of KYC records through a 4 eyed quality assurance process.
What you will be responsible for
Role specifics
- Perform Know Your Customer due diligence in line with applicable AML Policies, Standards & Procedures, prior to account openings and on an on-going basis
- Create KYC profiles in the system of record
- Complete the necessary forms required to support CIP / CDD and quality assurance;
- Screen client names and other parties in line with State Street Screening Standards
- Source required CDD documentation independently from various internal and external sources (regulatory websites, company websites, Banker’s Almanac, Lexis Nexis, World Check etc.) and assist team members with the same;
- Cooperate closely with Front Office employees to request all other required CDD documentation from customers
- Validate CDD documentation provided by customers
- Complete Customer AML risk assessments using corporate compliance tools and methods
- Meet agreed KRI / KPI targets for KYC profile reviews, and/or agreed targets for quality assurance reviews, escalating when required
- Ensure all assigned tasks are correctly maintained on designated tracking / reporting tool
- Assist with external regulatory examinations or testing
- Follow the speak up, listen up values - including timely escalation of AML concerns, suspicious activity or any corporate policy breaches
- Notify local management of operational issues
- Attend and participate in AML awareness training sessions to continue to enhance the quality of deliverables
- Assist in facilitating AML awareness training sessions across the team to continue to enhance the quality of deliverables
- Support ad hoc and/ or strategic projects as required
- Complete and validate enhanced due diligence on high risk customers / accounts
- Perform EDD monitoring and PEP analysis as required
- Perform 4-eyed quality assurance checks of KYC records for accuracy / completeness before verification
- Within quality assurance responsibility validate that State Street AML Policies, Standards & Procedures with respect to CIP / CDD are adhered to and that KYC Specialist conclusions are clear, complete and supported by necessary documentation, information and screening results
- Act as a KYC subject matter expert; providing technical expertise and guidance to all KYC specialists as needed
- Collaborate and lead conversations with key stakeholders with regards to the execution and accurate tracking of key deliverables from the Global AML Center
- Provide updates to stakeholders upon request
- Provide support to the KYC Operations Manager if required
- Act as deputy to the KYC Operations Manager in their absence
- Maintain role-specific knowledge of the current anti-money laundering and financial crime risks and issues through completion of the annual AML Academy, and any other financial crime training deemed applicable to the role
General
- Work Parameters Or Boundaries:
- Internal State Street Policies and Procedures.
- Performance Planning and Review System.
- Advanced knowledge of anti-money laundering / know-your-customer regulations and processes
- Intellectual curiosity for continuous learning around AML and KYC
- Excellent interpersonal, organizational and administrative skills
- Good communication skills, ability to provide a constructive feedback
- Good Microsoft Excel and Word skills
- Very good language skills in English
- One or more of the following language skills would be an advantage: French, German, Italian, Dutch, Arabic
- Knowledge of State Street procedures and requirements would be an advantage
- Additional asset: good communication skills especially focused on providing comprehensive feedback
Education & Preferred Qualifications
- Experience in AML (3+ years) is preferred
- KYC process experience for different entity types, such as Trusts, Hedge Funds, regulated entities, SPV etc. would be an advantage (1+ year)
- Experience of analysing complex ownership structures to determine risk exposure and applicable AML/KYC requirements, including jurisdictional uplifts is desirable
- Experience with Prime, World Check, Lexis-Nexis and other negative news searches, would be an advantage
- Experience of analysing High Risk Customer AML Profiles would be an advantage
- Internal promotion: tenure 18+ months
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers
About State Street
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
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