CID is a Pune-based team within the UK Financial Crime Compliance (FCC) function of the bank. The team advises and leads on all second line of defence activity related to financial crime compliance Know You Client (KYC) matters, and Client Due Diligence.
The team sets the CDD Procedures for onboarding as well as the approval for all IWM clients and high risk IB clients.
The role of Client ID is to process new UK client relationships across Investment Banking, Private Banking and Asset Management.
Specifically, Client ID data analysts verify the identity of prospective new clients in accordance with the FCA rules, the UK’s Joint Money Laundering Steering Group (JMLSG) Guidance Notes and Credit Suisse policies and procedures.
In addition, Client ID data analysts verify that sanctions and reputational screening has taken place using a variety of systems;
ensure that our clients are correctly categorised as Retail, Professional or Eligible Counterparties according to the FCA rules.
Client ID data analysts are also expected to become involved in project work designed to continually improve the operational efficiency of the team.
Certain projects will involve other parts of Compliance not directly linked to the employee’s day-to-day responsibilities.
Responsibilities include (but are not limited to) :
Ensuring Client ID team undertaking the identification and approval of clients in an effective and timely manner.
Working with the 1LoD to ensure submission of client files for review meet the required standards
Assisting on approval of account openings for higher risk clients and complex accounts as required.
Ensuring the Client ID team is performing the necessary control checks in accordance with procedures.
Management of resource allocation within the team
To work in partnership with the Client ID Team Leader for Controls to ensure FCC meets it 2LoD obligations for setting appropriate KYC / CDD standards and client approvals
Working closely with the IWM and IB Coverage teams to support the business.
Need to work in UK shift
Qualifications and Attributes
The expectation is that in order to undertake the role, the incumbent should have at a minimum of 5 years’ experience working in a financial crime position at a financial institution.
KYC SME (subject matter expert) including close working knowledge of UK regulatory requirements in relation to client on-boarding.
Understanding of the Investment or Private Banking environment would be preferable.
The incumbent will need to have sufficient gravitas as they will be liaising with very senior managers in the business lines.
They need to be able to and will be expected to provide credible challenge to the business.