Due Diligence Associate - Hyderabad, India - WELLS FARGO BANK

WELLS FARGO BANK

Verified Company

Hyderabad, India

2 weeks ago

Posted by:

Deepika Kaur

beBee Recuiter

Description

About this role:

This position will be working with the Wells Fargo Financial Crimes Risk Management Team within the WFCO. The Due Diligence Associate will report to a Due Diligence Associate Manager within India Hub

In this role, you will:

Engage with clients directly or indirectly through relationship managers to support meeting policies or regulatory requirements and focus on client satisfaction.
Conduct comprehensive research and background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate risks through documenting findings.
Review basic issues, policies or procedures for which answers can be quickly obtained related to lower risk tasks and deliverables with narrower impact
Run periodic due diligence reporting supporting processes reflective of the current business environment
Gather and input data utilizing resources to identify documentation required to meet policy or regulatory requirements
Receive direction from supervisor and exercise judgment while developing understanding of function, policies, procedures, and compliance requirements
Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals

Required Qualifications, US:

Required Qualifications, International:

3+ years of exerpience in one or a combination of the following: financial services, criminal justice, fraud, Bank Secrecy Act, anti money laundering, or investigations of financial crimes or policy violations; experience in the foregoing Operational Risk Management processes and / or Compliance or Audit Programs of a banking back office operations.
Familiarity with and working knowledge of BSA/AML programs including all aspects of KYC and / or other related risk and regulatory disciplines.
Proven ability to collaborate with all levels of management and functional groups.
Demonstrated organizational and time management skills with the ability to manage multiple responsibilities and tasks simultaneously.
Sound analytical, critical thinking and problemsolving skills.

Desired Qualifications:

Knowledge and a broad background in Wholesale Banking.
Experience in Operational risk management processes and/or compliance and / or audit and / or regulatory programs with KYC Duties.
Onboarding KYC customer processing or Financial Crimes Investigations experience strongly preferred.
Thorough understanding of CIP/CDD/EDD requirements.
Excellent communication and relationship/partnership building skills.
Proficiency in Office Suite (Excel, Word, PowerPoint, Outlook) and SharePoint.
Bachelor's degree in business, finance or economics.

Job Expectations:

Conducting Know your Customer (KYC) Compliance process for WFCCO processes in line with the requirements of the USA Patriot Act as well as Wells Fargo corporate AML / BSA policy requirements.
Analyze risks on escalated, referred, or alerted negative news. Communicate negative findings to lines of business and supply guidance on course of action.
Identifying and researching the patterns, trends and anomalies in transactional and customer data to detect, prevent, mitigate and report suspicious activity related to money laundering and terrorist financing.
Review Customer Due Diligence information for accuracy and investigate discrepancies.
Identify Higher Risk clients and obtain Enhanced Due Diligence where appropriate.
Analyze potentially suspicious activity, which will require the review of historical activity along with customer information.
Interact with compliance representatives to assess potential unusual activity.
Maintain program and procedures, making updates as needed.
Assist as needed with examinations and/or audits.

We Value Diversity

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company.

They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions.

There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.