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Enhanced Due Diligence Associate – (2200002M)
The role of the EDD Associate will be:
Responsible in delivering enhanced due diligence for the Retail Business.
The role of Enhanced due diligence is to identify, prevent and create and implement an enhanced due diligence framework to mitigate customer risks borne through services and/or products that we provide to our customers’ vis-a-vis the customer data that we collect. Lack of such a framework can lead to increased opportunities for money laundering or terrorist financing through our services and/or products.
- Develop and implement an enhanced due diligence framework
- Institute controls towards enhanced due diligence
- Review of customer information and related transactions, analysing complex data to determine if activity appears suspicious and warrants further investigation by the MLRO
- Responsible for conducting initial and periodic reviews when certain events occur that may give raise the risk profile for certain customers
- Compile and assess customer due diligence documentation for flagged customers on Sanctioned and watch lists
- Analyse politically exposed persons (“PEP”) and prepare accurate reports on the analysis performed and supporting documentation provided
- Analyse client profiles and information according to prescribed internal policies and procedures on AML, FATCA, and UFAA and mark them as appropriate for continuous monitoring. the client on-boarding process to ensure that valid FATCA documents are received, validated and clients classified as required in source systems
- Identify any inconsistencies/gaps in client information and identify US indicia
- Oversee enhanced review of accounts to ensure all are FATCA compliant
- Reporting to the relevant stakeholders on all unusual transactions
- Marking clients as high risk for continuous monitoring
- Filing returns to Regulators based on the set deadline
- Investigate and promptly respond to all KYC enquiries
- Ensuring that due diligence controls and processes are mapped out and implemented within the affected business functions
- Monitoring risks that have been identified in relation to the function and following up with the relevant functions to ensure that compliance is achieved.
- Record all incidences in barn-owl or the risk management system as the case may be as well as in CRM.
- Ensure maintenance and safety of all documentation relating to identified risk cases.
- Custodian of processes and procedures manual for enhanced due diligence for retail life business.
Knowledge, experience and qualifications required
- Bachelor’s degree in a business, statistics, mathematics or a related field
- Atleast 2 to 3 years of client due diligence experience
Technical/ Functional competencies
- Data analytical skills
- Data modeling skills
- Decision-making –ability to make strategic decisions in a timely and effective manner
- High moral and ethical standing
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Unposting Date: 04-07-2022
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