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Due Diligence Associate

AT Wells Fargo
Wells Fargo

Due Diligence Associate

Hyderabad, India
  • About Wells Fargo India & Philippines (WFIP)

    Wells Fargo India & Philippines (WFIP) enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. WFIP operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about WFIP at our International Careers website.

    Department Overview

    Corporate Due Diligence team (CDDI) is seeking a highly motivated, detailed oriented and talented professional for a career opportunity as a Due Diligence Associate.

    CDDI is Wells Fargo's enterprise solution for customer due diligence, supporting all major lines of business and operating as an extension of the onboarding process for new business and high net value individual customers, as well as the bank's high risk third party non-customer relationships. CDDI also provides ongoing due diligence and negative news monitoring for all relationship managing lines of business. CDDI is a component of the Customer Due Diligence.

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About the Role

The Due Diligence Associate conducts due diligence and investigations on commercial customers and their related parties (owners, board of directors, and chief level executives), as well as the bank high net value clients seeking to expand or establish new credit relationships. Primary due diligence and investigative responsibilities involve conducting comprehensive background investigations on individuals and business entities to identify and mitigate credit (willingness to pay), financial crimes, and reputational risk associated with existing lines of business portfolios and prospects while adhering to the Corporate BSA/AML policies. The components of the background investigation include, but are not limited to criminal and civil litigation, bankruptcies, judgments, and tax liens, corporate registration, adverse news, and the initiation of in-country investigations for high risk international customers. The Due Diligence Associate are expected to review and analyze investigations data from a suit of sources compiled in a data aggregator. The investigation findings will have a high degree of complexity and will require confirmation or a phase positive determination. Investigation results are summarized in an investigation summary report and delivered to the line of business that is managing or establishing the relationship

Key Job Responsibilities
  • Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate degree of complexity and risk to determine appropriateness for Wells Fargo.
  • Conducts comprehensive research and/or background investigations on individuals, entities, organizations or locations to identify and mitigate associated sanctions, credit, financial crime, and reputational risks and thoroughly documenting findings.
  • Reviews and analyzes due diligence data from a variety of sources to determine overall risk.
  • Screens customers, prospects and/or transactions against various regulatory reporting lists and regionally based sanctions watch lists.
  • Evaluates risks to determine permissibility under sanctions, regulations and/or BSA/AML regulations. Works with high risk customers (e.g. casinos, MSBs, payment processors) to understand controls and activities. Provides appropriate direction to the line of business. Escalates confirmed sanctions alerts, PEP matches and other risks appropriately.
  • Performs non-documentary Customer Identification Program on domestic customers in accordance with regulations and bank policy.
  • Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act and various sanctions regulations, and in accordance with policy/procedures set by the bank.
  • Prepares and submits regulatory reporting and requests. Consults with peers, line of business managers and other external parties regarding due diligence findings. Participates in moderate to complex project initiatives as the primary subject matter expert
  • Develops/delivers procedures or training; or mentors Associates with less experience. Effectively manages work requests to meet performance expectations.
  • Essential Qualifications:

    3+ years of experience in risk (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk) and a University degree in Business or related discipline

    Desired Qualifications:
  • Ability to take initiative and work independently with minimal supervision in a structured environment
  • Ability to research, analyze, and determine a course of action for financial transactions
  • Knowledge and understanding of regulatory compliance requirements surrounding USA PATRIOT Act and Anti Money Laundering (AML) requirements
  • Basic Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
  • Ability to provide strong customer service and develop customer relationships
  • Subject matter expert and Training skills
  • Strong organizational and time management skills with the ability to manage multiple responsibilities and tasks simultaneously.
  • Posting End Date:

    *Job posting may come down early due to volume of applicants.

    We Value Diversity

    At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

    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.

    Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

    Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

    Applicants with Disabilities

    To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .

    Drug and Alcohol Policy

    Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.

    Wells Fargo Recruitment and Hiring Requirements:

    a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

    b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.

    Client-provided location(s): Hyderabad, Telangana, India
    Job ID: WellsFargo-R-406345
    Employment Type: Full Time

    Perks and Benefits

    • Health and Wellness

      • Health Insurance
      • Health Reimbursement Account
      • Dental Insurance
      • Vision Insurance
      • Life Insurance
      • FSA
      • HSA
      • Mental Health Benefits
      • Short-Term Disability
      • Long-Term Disability
    • Parental Benefits

      • Adoption Assistance Program
      • Family Support Resources
      • Birth Parent or Maternity Leave
      • Non-Birth Parent or Paternity Leave
      • Fertility Benefits
      • Return-to-Work Program
    • Work Flexibility

      • Hybrid Work Opportunities
    • Office Life and Perks

      • Commuter Benefits Program
    • Vacation and Time Off

      • Paid Vacation
      • Paid Holidays
      • Personal/Sick Days
      • Volunteer Time Off
    • Financial and Retirement

      • 401(K) With Company Matching
      • Performance Bonus
      • Stock Purchase Program
    • Professional Development

      • Tuition Reimbursement
      • Access to Online Courses
      • Internship Program
      • Associate or Rotational Training Program
      • Promote From Within
      • Mentor Program
    • Diversity and Inclusion

      • Employee Resource Groups (ERG)
      • Diversity, Equity, and Inclusion Program
      • Unconscious Bias Training

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