Job Description:
About Us
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
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Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
KYC team ensures an environment where particular client is complying with the CDD (Client Due Diligence) guidelines. They perform the checks on the population managed by On-boarding teams globally and are responsible to have most updated documentation / information updated for clients maintaining relationship with Bank of America
Job Description
The purpose of the job is to report and analyze data around completeness and accuracy of the "Know Your Customer" data and information that is collected on our clients and to ensure compliance with Anti-Money Laundering policies and procedures. In addition, this job is to ensure that the proper Risk related activities are preformed based on the analysis of that client data and in accordance with AML policies. This information is critical in our efforts to comply with internal risk avoidance efforts and external compliance requirements.
Responsibilities
- Use Customer Identification Program (CIP)-Customer Due Diligence CDD procedures, existing and newly self-sourced documents, and data in the system of record (SOR), to perform Document Gap Analysis (DGA) to identify all documents/requirements needed to Refresh client.
- Update the requirement with results of DGA and capture outstanding information / documents required from client owner or client.
- Coordinate with Client Outreach Specialist (COS), client owner or client owner delegate for client Outreach.
- Engage outreach employee when additional clarification on satisfying requirements is requested and follow- up when requirements are not received.
- Review client documents for accuracy & completeness to ensure they satisfy KYC requirements per the jurisdiction & business type.
- Execute Enhanced Due Diligence (EDD) on high-risk client types- Money Service Businesses (MSB)s, Third Party Payment Processors (TPPP), Correspondent Banks, Casinos, Banknotes, and Charities and Non-Governmental Organizations (CNGO):
- Manage client clarifications. Review procedures or standards regarding issues from client responses in order to resolve.
- Work with the regional stakeholders confirming Laws, Rules, and Regulation (LRR) impact for the business, products, clients and/or processes.
Requirements
Job Title
Team Leader (IC)
Education
Graduate any stream.
Certifications If Any
AML certification desired
Experience Range
3-5+ years
Foundational skills
- Knowledge on AML KYC & basics of Client due diligence
- Knowledge on Banking & markets
- Basic Understanding of Enhanced due diligence
- Strong Communication Skills
- Good Email Writing Skills
Desired skills
- Familiarity with Global Banking and market products an advantage Knowledgeable of regulatory environment, risk framework, policies & standards.
- Technical skills in excel.
Work Timings
12:30 PM - 9:30 PM
Job Location
Mumbai