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35000-
40000 plus banking benefits
Our Banking client is looking for KYC & Compliance Assistant to join their team on a full-time permanent basis. Ideal candidate must have a minimum 2 years experience in a similar role within a retail or private bank serving HNW customers.
Responsibilities include (but not limited to):
Review the AML due diligence and Customer Risk Assessments for new account openings. Ensure the business team completes Enhanced Due Diligence (EDD) for all higher-risk customers, including documenting Source of Funds (SoF) and Source of Wealth (SoW). Account openings must not proceed without appropriate senior management approval for PEPs and other designated higher-risk indicators.
Ensure all customers are screened for sanctions and negative media at onboarding, during KYC reviews, and upon trigger events. Escalate any potential sanction matches or adverse media.
Review customer account updates completed by the frontline team. Ensure KYC records are up to date and that transaction monitoring is effective. Investigate and escalate any anomalies in accordance with the Bank's AML and CFT procedures.
Ensure that all departments comply with regulatory and policy requirements through periodic controls testing.
Assist in reviewing payments referred to Compliance. This includes verifying transactions against policies and procedures, validating sources of funds and beneficiaries to ensure compliance with sanctions, embargoes, and Bank-imposed restrictions.
Ensure timely review of customer accounts that are due based on their AML risk profile. Analyse account activity for transactions outside the expected profile.
Assist with investigations into Suspicious Activity Reports (SARs) submitted by staff and prepare disclosure reports to the NCA, as required.
Help manage payment screening queues and conduct weekly scans of the customer database to ensure compliance with OFAC, UN, EU, and UK sanctions and embargoes.
Oversee KYC updates during trigger events, such as before a dormant account is reactivated or closed.
Keep senior management informed of developments in relevant laws, regulations, and guidelines that impact the AML risk and control framework.
Assist in maintaining and reviewing the internal compliance procedures manual?especially those related to AML and CFT?as well as related staff guidance.
Identify and perform EDD on higher-risk customers, including PEPs and those linked to high-risk business sectors or countries flagged by the Bank.
Ensure all customer AML risk scores accurately reflect the Banks exposure to money laundering.
Experience and Skills:
Preferably a university degree
Professional qualification (ICA or CAMS) is an advantage
Minimum 2 years experience in a similar role within a retail or private bank serving HNW customers
Solid knowledge of banking products and services
Good understanding of UK AML and CTF regulations
Working knowledge of GDPR and the Data Protection Act
Strong written and verbal communication skills
Ability to manage KYC updates tactfully with customers
Strong analytical skills with the ability to articulate risk clearly
Proficient in Microsoft Excel and database management
For more information on this role please contact Barbara Houghton by sending your CV to Barbara@bhal.co.uk and quoting ref 16876BH.
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