As a Compliance Associate you will support the IFX business predominantly the Compliance team servicing mainly corporate clients and occasionally retail clients. You will work directly with the Due Diligence Manager and Sales/Client Relationship Managers that are responsible for the client relationships to complete client KYC adoptions and reviews, ensuring strict adherence to IFX KYC policy and procedures & Anti-Money Laundering (AML) Compliance requirements. This particular role will focus on the onboarding of new clients which will involve CDD and EDD checks, including PEP, sanctions and adverse media screening, ownership structure, risk assessments, and occasional compliance audits with clients. As part of your role, you will deal with HR industries and situations managing complex ownerships structure, and onboarding different type of entities such as funds, charities, trusts, partnerships, offshore entities and financial institutions.
- Undertaking AML/CDD checks and risk assessments for new onboarding corporate clients
- Applying EDD for high risk customers as part of onboarding or periodic reviews. To identify the risks and or mitigating controls where enhanced due diligence is carried out.
- Reviewing and carrying out PEP, Sanction and Adverse Media checks as necessary, ensuring ongoing checks are completed in a timely fashion and any false positives are recorded and escalated as required.
- Request submission of documents from clients according to periodic review timelines and follow up to ensure complete and timely delivery, fill in relevant KYC forms – systems, and update client KYC profiles driven by material events such as change of client name, ownership or negative news etc
- Conducting event driven reviews when required
- Supporting the Due Diligence Manager in presentation of clients in relevant internal committees
Competencies and experience
- Relevant experience in a similar role with a minimum of 2 years’ within a financial institution
- An understanding of KYC law – regulations, compliance risk as well as non-financial risk, and documentation aspects of KYC process for correspondent banking relationships
- AML Certificate or Diploma with ICA/ACAMS would be an advantage
- Experience in conducting risk assessment on various corporate structures e.g., funds, charities, trusts, partnerships, offshore entities, financial institutions
- Motivated self-starter who can handle competing priorities and work effectively in a challenging, fast-paced environment
- Strong analytical and organisational skills; a proactive and fast learner
- Strong writing skills, capability to document relevant information in a clear, structured and comprehensive way
- Excellent communication skills and the ability to build and maintain relationships with colleagues and clients at all levels of seniority
- Team player with strong work ethics
- Resilience and commitment, ability to plan, prioritise and work under pressure
- Accuracy, diligence and the ability to deliver high quality results within tight deadlines
- Command of MS Office applications and general computer proficiency