Due Diligence Consultant

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Wells Fargo Bank
  • 19 Nov 18

This consultant is functionally managed by the APAC Client On-boarding Manager in the 1st line of defense (“1LOD”). Primary function of the role is obtaining, verifying, and properly recording customer due diligence information and documentation, for KYC technical matters requiring escalation, the APAC Client On-boarding Manager (also in the 1LOD) is the first point of reference. The individual will also assist with ongoing reviews and KYC projects as required.

~~Department Overview
The COO function provides support to the Asia Regional President to create and manage the infrastructure for Wells Fargo’s lines of business operating in Asia Pacific. It is also responsible for managing certain aspects of the company and assists the APAC President in the successful growth of the company.
The COO function provides the leadership and management necessary to ensure that the company has the proper operational controls, administrative and reporting procedures and systems in place to effectively grow the organization and to ensure financial strength and operating efficiency. The COO function directs, administers and coordinates the internal operational activities of the organization in accordance with policies, goals, and objectives established. Partners with the lines of business in region as well as the following functions: operations, human resources, technology, communication & marketing, finance, tax, operational risk, legal, compliance and cross border governance. The COO function assists the APAC President in the development of regional policies and goals that cover operations, personnel, financial performance and growth of the functions and/or business units mentioned above.

Main function of the job:
This consultant is functionally managed by the APAC Client On-boarding Manager in the 1st line of defense (“1LOD”).  Primary function of the role is obtaining, verifying, and properly recording customer due diligence information and documentation, for KYC technical matters requiring escalation, the APAC Client On-boarding Manager (also in the 1LOD) is the first point of reference. The individual will also assist with ongoing reviews and KYC projects as required.
(Note: In addition to these functions, team members are required to carry out such other duties as may reasonably be required)

Responsibilities:
As a Due Diligence Consultant, the primary responsibilities are as follows:
 •            Conduct full KYC/AML verification checks on all new clients in accordance with relevant APAC laws, rules and regulations, and firm policies as appropriate.
•             Investigate ownership and control of the client to identify all ultimate beneficiaries and possible PEPs for KYC and risk management purposes.
•             Provide advice to the business in order for them to obtain information and documentation required to ensure compliance with relevant Anti-Money Laundering laws, rules and regulations.
•             Investigation of the client’s background utilizing all available internal/external systems, to develop a full picture of who the client is and whether any high risk factors are revealed.
•             Liaise and co-ordinate with various other departments as necessary regarding client on-boarding.
•             Ensure that all relevant KYC/AML information is adequately recorded, especially information relating to source of funds / source of wealth and expected account activity, for risk management purposes.
•             Liaise with the business or operations where necessary in order to provide the client with a clear understanding of firm and regulatory requirements.
•             Assist where necessary in the ongoing client review program performing appropriate KYC/AML reviews on the existing APAC client base.
•             Assist with the ongoing maintenance of client information and documentation.
•             Assist with updating procedures and trackers related to Customer due diligence BSA / AML program
•             Assist with ad-hoc projects, as required.

The successful candidate will be able to demonstrate:
•Solid AML compliance experience, with a good understanding of AML laws, rules and regulations in APAC, including all aspects of CIP / CDD / EDD; some knowledge of the global AML regulatory environment would be a plus.
•Excellent interpersonal and communication skills and experience dealing with front office staff on a daily basis.
•The ability to work unsupervised, and willingness to work to deadlines to get the job done when required.
•Strong organizational skills, attention to detail, and adherence to strict deadlines in a fast faced and high pressure environment.