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Division Summary

The KYC team plays an integral part in the governance of client risk management. The KYC team is made up of three functions, KYC Coordination, Client Verification & Screening and Quality Control.

Job Purpose

The KYC Quality Control Analyst is responsible for developing a detailed understanding of the customer and the nature of the proposed or existing business relationship. This involves the analysis of customer documentation and ensuring a comprehensive QC of all documentation held on file. Through gaining a detailed understanding of our proposed customers, all Analysts, regardless of level help to control the risk of ICBC Standard Bank Plc facilitating financial crime.

The KYC Quality Control Analyst is responsible for reviewing the customer information obtained by the Client Verification Team and the analysis they conduct. This requires the use of an internal quality assurance checklist to ensure the quality and consistency of our onboarding and periodic review process.

The ideal candidate will have relevant experience and knowledge of the guidance for customer due diligence set by the JMLSG and the terms of the Money Laundering Regulation. Candidates with experience of dealing with low, medium and high risk entities (including PEPs) would be particularly suited to this role.

Key Responsibilities

• Complete an accurate QC of KYC profiles in a timely manner for new and existing customers using internal KYC systems
• Apply the KYC Business Rules with internal policies and procedures to obtain and analyse the necessary documents for each client type
• Review and validate the information obtained along with analysis completed by KYC CV Analyst to ensure compliance with internal KYC business rules and procedures
• Ensure internal systems are checked for accuracy and completeness
• Ensure the customer's activities and the nature of the proposed or existing business relationship is appropriate and in line with the documents collated
• Assist the business with any queries relating to KYC processes to ensure adherence to internal procedures and industry best practice
• Complete internal QC templates and clearly document any issues uncovered with customer information or KYC analysis
• Liaise and feedback to the KYC CV Team all file inconsistencies and housekeeping points, ensuring all are rectified before issuing final approval of the KYC documentation
• Identify training gaps and work with Head of Quality Control to initiate relevant training sessions.
• Ensure all client classifications are correct and relevant documentation to support classification is on file
• Ensure the screening undertaken by the CV team is to current standards and escalations to Enhanced Due Diligence team are completed as per current process
• Feedback on screening is to be comprehensively advised back to the CV team so continual errors are reduced
• To raise issues/discrepancies where found and proactively engage and heavy participate in providing a solution to the process/procedure to reduce inconsistencies and deficiencies in future.
• Assist with ongoing project work to enhance the effectiveness of the KYC function
• Assist the business with any queries relating to KYC processes to ensure adherence to internal procedures and industry best practice
• Provide standard guidance and support to colleagues through informal (on the job) training/coaching in own area.
• Able to temporarily fill in lead roles, as part of their onward career path
• Provide input and support to various meetings (including minute taking)

Preferred Qualifications and Experience

Knowledge, technical skills and expertise

• Investment Banking (Capital Markets) KYC background with significant experience of reviewing and documenting client relationships
• Sound knowledge of KYC procedures and regulatory best practice (Money Laundering Regulation and JMLSG Guidance)
• Thorough knowledge of KYC procedures and regulatory best practice
• Experience of reviewing and documenting customer relationships with evidence of KYC subject matter expertise
• Detailed understanding of risk and control processes
• Capable of explaining KYC requirements and providing clear instructions to others
• IT literate and ability to quickly adapt to new software systems

Regulatory Classifications (MiFID / PSR / FSCS / FOS / FATCA / EMIR / DODD FRANK)

• Ensure accurate applicate application of:MiFID (Retail, Professional, Eligible Counterparty or Elective Professional) in accordance with the COBs guidance, Complete the FSCS / PSR and FOS classification of all relevant clients.
• Perform a reasonableness test on EMIR / Dodd Frank and FATCA documentation

Competencies

• Effective communication and presentation skills
• Capable of quickly adapting to change
• Strong stakeholder management skills
• Identifying and implementing enhancements to existing processes
• High level of personal integrity and respect for our regulatory requirements
• Thorough knowledge of KYC procedures and regulatory best practice (gained over several years in a similar position).
• A good understanding of UK AML requirements including JMLSG Guidance Notes, the Money Laundering Regulations, the Proceeds of Crime Act, the Terrorism Act and other relevant sanctions screening requirements.
• Experience of reviewing and documenting client relationships using KYC subject matter expertise
• Analytical mind-set with the ability to identify complex ownership structures and apply the relevant KYC or AML procedures
• Strong communication skills with a clear and concise writing style
• Self-motivated, organised and pragmatic approach to work
• Plans and prioritises own work (with reference to line managers), makes best use of own time and meets deadlines.
• Works co-operatively and is a supportive member of the team
• Ability to deliver high quality work under tight deadlines and pressure
• Seeks to improve and develop self responds positively to development needs that are brought to his/her attention
• Familiarity with Regulatory Classifications would be of benefit to candidates in this role