Analyst, Client Onboarding Quality Assurance
The Client On-Boarding team is part of the Client Management Services, which is situated within the Corporate and Investment Banking Division of MUFG Bank. However, this function acts as a centralized 1st line support team, providing support to Investment Banking and Corporate Banking in EMEA, Capital Markets and MUFG Securities both in London and in Amsterdam.
MAIN PURPOSE OF THE ROLE
This individual will be responsible for conducting Quality Assurance (QA) assessments across new on-boarding, Periodic Reviews and Event Driven Reviews – including KYC and Regulatory Classifications. The Client On-Boarding Team covers a highly varied portfolio of Circa. 6,000 entities – ranging from simple listed customers, to much more complex structures, entities and product offerings, as an associate within the QA function this individual will need fully understanding all customer types and the global QA toolkit – identifying and escalating risks appropriately.
This function provides a critical independent and retrospective sample review of all KYC processes conducted within the 1st Line of Defense; identifying weakness, thematic issues and recommending appropriate remedial and procedural actions. In addition, this area will provide key support to both the On-Boarding team and the wider Client Management Services function, including but not limited to; developing and delivering a suite of Management Information for key stakeholders, analyzing/enriching and delivering the book of work within Client On-Boarding team.
Key stakeholders in this role are; Operational KYC counterparts, QC Counterparts, Financial Crime (2nd line of Defense), senior management, and Audit. This individual will be a key Subject Matter Expert within the QA team, supporting the QA lead to ensure the highest standards are maintained, processes are as efficient as possible and management information is effective. Driving forward and influencing change is therefore essential in this role.
In this role, you will be responsible for Quality Assurance Assessments across MUFG’s banking arm and securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the bank and the securities business, subject to the same remit and level of authority, and irrespective of the entity which employs you.
- Performing QA reviews of KYC activity conducted across MUFG’s Banking arm and securities business, to determine whether outputs meet the established quality objectives set out within the Global QA Standards. Initially this will be focused on work conducted within London, but as the function is established further EMEA offices will fall in scope of this QA function.
- Analyse observations/ findings, perform de-briefing sessions to provide feedback and ensure enhancements in performance of Client Management Services function.
- Deliver an effective independent and retrospective review of processes to ensure a thorough & effective Customer Due Diligence is being conducted. Assist other members of the team and work on ad hoc projects where necessary.
- Develop an effective suit of Management Information reports for key stakeholders, for related activities covered within the Client Management Services function.
- Conducting analysis of the upcoming book of work within the Client On-Boarding team, enriching the data (through groupings and common alignment identifiers) and delivering output to the On-Boarding team and key stakeholders
- Ensuring that the results of the QA reviews are communicated to the appropriate parties, tracked and addressed in a timely manner.
- Providing support to the QA Lead to identify and summarize review objectives, purpose and scope.
- Escalating errors and exceptions identified during QA reviews and the validation of action plans to address QA findings.
- Managing the coordination with Regional Issues Management to monitor and track the resolution of QA identified issues and action plans.
- Assist with the establishment of appropriate QA management routines and ensuring proper awareness of QA review results through the reporting of QA related Key Performance Indicators and Key Risk Indicators.
- Monitoring regulatory developments, such as changes in the regulatory environment, which may impact the 1st Line of Defense QA function.
- Be aware of regulatory and internal deadlines relating to renewal dates of records and prioritize accordingly.
- Keep abreast of developments in current trends and progress on money laundering, bribery and corruption and it prevention.
- Share knowledge and experience with team members to ensure a consistently high level of performance.
- Multi-year hands on experience in Client On-boarding and/or KYC / QA or audit functions within Anti Money Laundering, fraud and bribery or Financial Crime roles [ESSENTIAL]
- Experience with Investment Banking & the On-Boarding of Corporate entities (Inc. Private Companies and SPVs) [ESSENTIAL]
SKILLS AND EXPERIENCE
Functional / Technical Competencies:
- Awareness of UK & European Anti-Money Laundering regulations [ESSENTIAL]
- Advanced knowledge of Financial Crime prevention and KYC customer requirements with a "think outside the box approach".
- Knowledge of various corporate structures [ESSENTIAL]
- Able to communicate effectively to key stakeholders at all levels. [ESSENTIAL]
- Attention to detail is essential [ESSENTIAL]
- Advanced time management skills and ability to execute tasks within tight deadlines.
- Ability to effectively utilize Microsoft Office (particularly word & excel). [ESSENTIAL]
Education / Qualifications:
- Degree Level or relevant industry experience [ESSENTIAL]
- Relevant qualifications in Anti Money Laundering, fraud and bribery or Financial Crime roles. [BENEFICIAL]