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Due Diligence Manager

Wells Fargo
Singapur
Gepostet vor 27 Tagen Permanent Competitive
See job description for details
Position Overview

Due Diligence teams own the client onboarding process and engages with clients, relationship team and third parties to mitigate risk via a thorough due-diligence process which may include: conducting comprehensive research and/or background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate associated sanctions, credit, financial crime, and reputational risks and thoroughly documenting findings. Engages with clients directly or indirectly through relationship managers to support meeting policy / regulatory requirements in a manner consistent with Wells Fargo s values and focus on client satisfaction. Ensures execution of due diligence programs, processes and controls to identify, assess, and mitigate risk. Manages and directs staff on the execution of activities associated with conducting reviews of bank customers, related parties and/or transactions presenting a moderate degree of complexity and risk to determine appropriateness for Wells Fargo. Establishes performance standards, evaluates performance, and trains/coaches staff. Develops/assists in developing training materials. Manages the implementation of procedures, controls, analytics and trend analysis to ensure comprehensive research and background investigations, expertise in data collection and sourcing as well as thorough documentation. Leads implementation of complex and strategic initiatives with moderate risk and complexity. Manages communication and collaboration with business heads, Legal, Audit and regulators regarding risk management of business-specific risk programs. Manages a team of Due Diligence Associates and senior Associates or cross-functional teams in accomplishing goals and priorities.

The position may be filled as an Onboarding Manager, Ongoing Due Diligence Manager or Quality Control Manager. Experience is all three disciplines is required.

Responsibilities:

The primary function of the Due Diligence Manager is to centrally coordinate the client on-boarding, Ongoing Due Diligence and QC activities performed by the business-aligned KYC analyst's in first line.
  • Oversee the business-aligned KYC or QC analysts and provide quality assurance review of the work output of the team members.
  • Rebalance work due to LOB capacity and volume shifts, and where required, assist in performing CDD/ EDD.
  • Track and monitor performance metrics and consolidate into periodic management reporting.
  • Drive consistency of approach and high quality results across all lines of business.
  • Liaise with stakeholders and partners on project initiatives related to due diligence and risk management.
  • Other special projects will be the responsibility of front line KYC managers as it aligns to their realm of responsibility.
  • Provide coaching and feedback to business-aligned KYC analysts, ensuring best practices are adopted across the group. Drive efficiencies, process enhancements and cost reduction strategies to increase output, mitigate risk, and increase Customer experience.
  • Act as a central point of contact for all issues management.
  • If required, seek approvals for policy exception or waivers (e.g. temporary manual work around due to system related issues) to ensure U.S. and local regulatory compliance.
  • Disseminate changes in regulatory or corporate guidance related to Jurisdictional and U.S. KYC expectations.
  • Implement any new or changes in CIP/ CDD/ EDD policy, procedures and standards.
As a Team Member manager, you are expected to:
  • Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
  • Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
Requirements:
  • With 7 - 10 years relevant professional experience
  • Bachelor degree preferred.
  • Relevant experience managing teams focused on Due Diligence and Risk Management activities.
  • Solid AML compliance experience, with a good understanding of AML laws, rules and regulations in EMEA, some knowledge of the global AML regulatory environment would be a plus.
  • Quality Control knowledge and/or leading QC teams.
  • Ability to succeed in a matrix reporting environment.
  • Experience of working in a high pressure environment, working to tight deadlines and displaying efficiency and effectiveness.
  • The ability to work unsupervised, and willingness to work to deadlines to get the job done.
The position may be filled as an Onboarding Manager, Ongoing Due Diligence Manager or Quality Control Manager. Experience is all three disciplines is required.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

Job ID  R-151650
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