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Senior Associate - Anti Money Laundering

3.00 to 5.00 Years   Hyderabad   24 Apr, 2021
State Street Corporation
Job LocationHyderabad
EducationNot Mentioned
SalaryNot Disclosed
IndustryBanking / Financial Services
Functional AreaOperations Management / Process Analysis
EmploymentTypeFull-time

Job Description

DESCRIPTIONThe AML BU CoE department provides a Customer Identification Program (CIP) and Customer Due Diligence (CDD) service to State Street s Business units spread across globally. The department is tasked with procuring Client Identification document, validating the requirements as per the requirement matrix. The team s primary responsibility is to support the Business Units in onboarding the customers as per the agreed timeline and periodically review the existing customers as per their Risk Rating. The team will collaborate with FIU, Compliance, all Lines of Business Units and KYC Shared Services in order to comply by the AML policies and requirements.The BU CoE team, which is based in Hyderabad & Bangalore, India, is responsible for collecting and analyzing client data, documents and publically available information on State Streets new and existing clients to comply with firm s AML/KYC Policy and Procedures. The team is, further, responsible for ensuring that all existing clients of State Street are renewed in accordance with firm s AML/KYC Policy and Procedures.RESPONSIBILITIES:Responsibilities will include:-

  • Providing technical and specialist support to the BU CoE team
  • Ensure that all necessary documentation takes place in line with the KYC customer matrix provided by compliance
  • Liaise with the Shared services team to ensure timely completion of client onboards.
  • Ensure State Street AML/KYC Compliance Policy requirements are met and that CIP/CDD procedures are followed
  • Manage the completion of CIP/CDD documentation for all customers in line with applicable AML Policies & Procedures
  • Notifying local management of operational issues.
  • Ensuring KYC / Anti-Money Laundering risk assessments using corporate compliance tools and methods prior to account opening are completed before account opening and on an on-going basis for new accounts.
  • Conduct 4- eye check on cases submitted by the reviewers.
  • Provide assistance to managers by preparing status reports for senior management.REQUIREMENTS:Education and Experience
  • Graduate and above
  • Hands on experience on complete KYC process is mandatory.Skills/Knowledge
  • Possess good understanding of end-to-end KYC process.
  • Should have sound knowledge on various risk rating requiements including EDD procedures.
  • Ability to perform KYC reviews on different entity types, such as Trusts, Hedge Funds, regulated entities, SPV etc.
  • Understanding of complex ownership structure.
  • Should have good knowledge on World Check, Lexis-Nexis and negative searches.
  • Knowledge on Business information sources such as ORBIS, One Source, Bloomberg, etc, is an added advantage.
  • Ability to interpret KYC policies, procedures and laws and put into practice
  • Ability to engage with colleagues from different State Street sites and locally
  • Excellent organizational and administrative skills
  • Ability to support other staff and to participate in the process to ensure work is completed accurately and on time
  • Should have eye to detail and analytical skills while conducting quality checks.
  • Ability to perform effectively to strict deadlines.
The above cited duties and responsibilities describe the general nature and level of work performed by people assigned to the job. They are not intended to be an exhaustive list of all the duties and responsibilities that an incumbent may be expected or asked to perform.,

Keyskills :
customer relationsinsurancequalitysalesmishedge fundsworld checkdue diligencebusiness unitsshared servicesaccount openinganalytical skillsfamily partnershipsbusiness informationantimoney laundering

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