KYC Associate

Job description

· Account on-boarding of new to bank customers, new relationships product and services
· Account on-boarding of existing customers
· Customer Due Diligence Account Review
· Provide Maintenance Service for material changes for existing accounts
· Periodic Review of Trigger Events on Existing Clients
· Verfication of Tax Documentation for FATCA Classification and Tax Transparency
· Support Business and Operations on on-going projects
Impact on the Business
· Receive e-files from the CLM ROs or Analysts which contain HSBC account applications companied by various support documents for new to bank and existing clients.
· Assign and manage in a timely and efficient manner the workload received by the department.
· Manage the Group Mailbox and answer to all questions submitted by collegues and other teams in a professional and in a timely manner.
· Review and conduct account documentation analysis for new accounts and perfom account maintenance documentation for existing clients for all structures (personal, corporate, limited liability company, partnerships, non profit organizations, trusts, foundations, banks) according to Regulation K, Bank policies and procedures. Specializes in the review of Complex Structures of Corporate, Trust and Deceased Accounts. Updates CRM for any Data changes to Client Profiles. Updates Document Tracking and prepares documents for imaging.
· Using knowledge of regulatory laws, the CLM Associate assess if the documents provided meet the requirements to open an account for the client.
· The CLM Associate completes an provide the appropriate approvals for the opening of new accounts as well as for any existing account that is going through an update or PEDR.
· The CLM Associate also reviews, approve and update Private Bank book and record systems when there are changes to in corporate structures such as change in ownership, name changes due to mergers, acquisitions, other entity updates, which require additional due diligence and approvals.
· They work with FCC, Legal, Tax and other areas as necessary during the whole process.
· The CLM Associacie also analyzes and approves Tax Documentation for FATCA Classification and Tax Transparency (where applicable).
· Responsible for ensuring compliance with various banking regulations.
Customers / Stakeholders
· Ensure prompt resolution of all customer service related issues.
· Effectively manage Risk in Private Bank while ensuring adherence to all regulatory and compliance requirements.
Leadership & Teamwork
· Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
· Promote an environment that supports diversity and reflects the HSBC brand.
· Support CLM ROs regarding any client inquiries.
Operational Effectiveness & Control
· To ensure a compliance culture by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
· Minimize Operating Losses.
· “ID & V” Client's names against various databases such as, Reg O, internal watch lists, etc. in order to comply with Regulatory and Bank's new Global Standards derisking initiative.
Major Challenges
· Must be able to work in a fast paced environment and be able to multi task.
· Ability to manage multiple priorities and initiatives with aggressive deadlines and limited resources.
· Responsible for adhering to service levels while driving change and global standards.
· Must support local level expectation and requirements while adopting global standards where possible.
· Must reduce costs while increasing capacity to grow the business and improve customer experience.
· Specialized knowledge in the review of Complex Structures of Funds, Corporate, Trust and Deceased Accounts.
· Manage team projects and Bank initiatives while performing everyday duties.
· Documentation review involves the exercise of extreme discretion and judgment, with the authority to make independent decisions 100% of the time. The accounts presented maybe in line with local legal and regulatory standards however the structure is questionable by pure instinct and experience.
· These decisions require out of the box decision masking as they have significant amount of financial impact and reptutional risk the HSBC.
Role Context
· Reports to CLM DCT Managers, Private Bank.
· Involves multi-team management in a fast paced enviorment that requires sound decision making, flexibility, and strong leadership.
· Has direct interface and daily correspondence with all levels of management, group functions, and various part of the business.
Management of Risk
· Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
Observation of Internal Controls
· Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

Desired profile

Qualifications :

·  Working Knowledge of banking, operational processes, procedures, compliance, policies and applications.
·  Knowledge of the Anti-money Laundering Policy.
·  Working Knowledge of tax forms and the FATCA classifications.
·  Ability to write, implement and make policy recommendations.
·  Ability to handle escalated operational concerns.
·  Analytical and problem solving, decision making, communication and follow-up skills.
·  Working knowledge of computer software; Word, Excel, Microsoft, Power Point, Access Databases, Business Objects.
·  Ability to work in a team environment to deal with all levels of personnel in a courteous, efficient matter.
·  Self-Motivated, dependable and able to meet deadlines.
·  Strong organizational and analytical skills
·  Must be multi-tasked to be able to work in a fast pace and changing environment
·  Must process the ability to work independently
·  Working knowledge of all source systems ( CRM, HBUS-CIF, Global Plus, NetX360, ADP, OBAS, Bimas, Filenet)
·  Able to read, write and speak Spanish is a plus
·  CAMS or FIBA is a plus
EEO/AA/Minorities/Women/Disability/Veterans