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IPB US Compliance Business Control Officer
- Primary Location: United States,California,San Francisco
- Education: Bachelor's Degree
- Job Function: Compliance and Control
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: Yes, 10 % of the Time
- Job ID: 19022819
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
About the Role
- Act as an effective leader of the Know Your Client (KYC) processes supporting the Sales and Client Engagement organization.
- Responsible for controlling all KYC activity tracking and completion, driving highest quality of execution as per Post Execution Quality review standards, and achieving timeliness completion of activities.
- Manage classification and effective assessments of Controllable and Uncontrollable scenarios for KYC activities to guarantee on time completion of controllable cases.
- Leads escalation processes representing the Sales and Client Engagement organization, providing case background insights, proper articulation of reasons for escalation, potential risk, and mitigating approach/actions.
- Escalates any potential or material AML or Sanctions risks discovered during on-boarding or maintenance of KYC profiles to the Financial Professional, Business Unit Control Officer (BUCO), Direct Manager, ACRM, and/or FIU.
- Coordinates relationship closure recommendation process for AML processes to ensure timely response and effective tracking of cases.
- Leads control enforcement processes to mitigate potential AML risks, creating visibility over process effectiveness.
- Lead KYC Making process in coordination with Sales and Client Engagement organization and KYC Maker Manager/Supervisors to ensure effective initiation and completion of KYC activities in every stage of the process.
- Act as Subject Matter Expert (SME) for Known Your Client (KYC) processes and AML standards.
- Lead feedback, coaching, and training around KYC processes and Anti Money Laundering efforts to guarantee appropriate execution in Sales and Client Engagement organization.
- Assess, monitor, and drive execution around Key Performance indicators, including but not limited to: concentration of volumes by Relationship Manager and KYC Maker, timeliness metrics at stage level, First Submission Approval rates, Post Execution Quality review rates, and remediation efforts.
- Drive and support Root Cause Analysis process, at the case/group level, and assist in the statistical exercise to uncover opportunities for improvement and influence process owners and participants to effectively fix root cause detected.
- Act and main Sales & Client Engagement support for control and KYC activity completion processes.
- Perform in-depth reviews for cases to obtain/provide guidance around KYC processes or potential AML risks, working directly with ACRM and business leaders.
- Support capacity assessment analysis to ensure coverage is in place to support KYC activity completion.
- Maintain guidance documentation for processes owned by the team, including updating material as necessary, obtaining required approvals, safekeeping of those updates, and delivery of corresponding communications.
- Support all activities related to improve overall employee satisfaction within the unit.
- Maintain a controlled and motivating operating environment ensuring that potential risks are mitigated with the implementation of relevant and effective controls.
- Respond to MCA, Compliance testing, and Audit reviews to support an effective assessment and design potential corrective actions for vetted recommendations.
- Manage constructive interaction with IPB Management, BUCOs, Financial Professionals, CBSU analysts, and other staff members, as needed, in support of AML/KYC activities.
- Work with Management to identify and execute process improvement opportunities to align with business objectives.
- Define, negotiate, and implement service standards, SLAs, processes, procedures, controls and metrics for the supervised team.
- Escalate any issues or identified discrepancies encountered throughout analysis and review support offered by the supervised team.
- Accomplish assigned tasks (including time sensitive tasks) within defined targets and adapt to changing priorities.
- 5 years of Business experience in the Consumer and Commercial Banking industry and experience within a medium/large financial organization, including knowledge of banking products and different types of transactions.
- Bachelor’s Degree or equivalent experience.
- Proven success in a client-focused environment.
- Relevant work experience and understanding of global and local AML KYC regulations, associated risks of non-compliance and changing dynamics, and knowledge of KYC processes throughout the client lifecycle.
- Understanding of the interdependencies of roles within KYC process and requirements for KYC Record successful completion across relevant client types.
- Experience with regulatory compliance, AML transaction/risk monitoring tools, and solving AML related issues.
- Highly effective verbal and written communications skills.
- Strong time management, analytical skills, and problem solving skills.
- Sound independent judgment and decision making skills.
- Proficient Microsoft Office user (i.e. Excel, Power Point).
- Understanding of Bank’s policies and procedures.
- Strong commitment to the business and team.
- Focused and driven attitude to support Sales with the Due Diligence process.
- Bilingual – English and Mandarin (San Francisco).