GBM Business Services Officer (KYC Analyst)

About HSBC:

HSBC Saudi Arabia provides investment banking services to the full spectrum of corporate and institutional clients in both the private and government sectors, including public companies; private companies and establishments; funds; government agencies; and family businesses and offices.

Role Purpose:

KYC/RMU Operations is part of Digital Business Services in HSBC. The objective is to provide Global Banking & Markets clients with a globally consistent, and best in class KYC/CDD process for Saudi Arabia. This includes journey from onboarding request to account activation. KYC/CDD profiles are being prepared in accordance with Group and Regulatory Policy, both in Global and Local policies perspective, by obtaining information and documents as required from the client/business, undertaking all the necessary due diligence checks, ensuring appropriate escalations are followed and customers are correctly risk rated.

Role holder will have assigned Productivity, Service standards and Quality targets to be met with, as per the book of work demands for the service supported. These will be notified to the job holder at the time of objective setting and reviewed in line with performance review meetings.

Principal Accountabilities: Key activities and decision making areas:

Impact on the Business

Jobholder needs to ensure HSBC SA is compliant with all relevant regulation and Group policy. To achieve this, the jobholder needs to perform the following tasks. His / Her main responsibilities are:

• Ensuring KYC reviews are undertaken to the required quality standards on a timely basis
• Analyze the risk associated with the client from a technical perspective
• Working in close coordination with Client and or respective teams for deficient KYC information required in order to complete KYC requirements as per policy applicable. Working effectively with key stakeholders to ensure mutually satisfactory resolution of key issues and the respective responsibilities are understood and implemented
• Analyze the risk associated with the client in accordance with regulatory requirements
• Review/update KYC profiles for sign off in accordance with the Group Policy and local regulatory requirements
• Recommend/undertake further due diligence where required. Refer adverse findings. Ensure a conclusion is reached with regard to risk, additional due diligence
• High Quality output on both productivity and quality is expected with minimal or nil rework,
• Foreseeing the risks and adopting new policies, technology changes and changes with ease, Cohesive working with colleagues and other members

Customers / Stakeholders

• Undertake reviews of extended due diligence to assess risk. Provide comments and escalate to Compliance for agreement and approval
• Perform research via internal and external sources including client interaction via emails or the respective departments involved with CDD
• Gather and analyze documentation in accordance with regulatory KYC requirements
• Undertake screening checks. Review hits to determine course of action. Refer to as require
• Escalation route needs to be adopted keeping the line manager in loop

Experience / Qualifications:

• 1-2 years of relevant experience is required
• Good understanding of financial regulatory environment and AML risk implications.
• Good Communication Skills
• Thorough understanding of various client types: financial institutions, corporate, Public and Private companies, funds, SPV’s etc
• Ability to interpret complex changes in regulatory guidelines and assess impact