Know Your Client (KYC) Client Onboarding

Know Your Client (KYC) Client Onboarding

Job ID: 3181538
Full/Part-Time: Full-time
Regular/Temporary: Regular
Listed: 2018-10-15
Location: New York, United States of America


Operations provides support for all of Deutsche Bank's businesses to enable them to deliver transactions and processes to clients. Our people work in established global financial centres such as London, New York, Frankfurt and Singapore, as well as specialist development and service centres in locations including Bucharest, Moscow, Pune, Dublin and Cary. We process payments in excess of a trillion euros across the bank's platforms, support thousands of trading desks and enable millions of banking transactions, share trades and emails every day.

A dynamic and diverse division, our objective is to make sure that all our services are executed in a timely and professional manner, that risk is minimised and that the client experience is positive. We are proud of the professionalism of our people, and the work they do. In return, we offer excellent career development opportunities to foster skills and talent.

Position Overview

Job Title: Know Your Client (KYC) Client Onboarding
Location: New York, New York

About Deutsche Bank

We are Germany's leading bank with strong positions in Europe and significant presence in the Americas and Asia Pacific. We're driving growth through our strong client franchise, investing heavily in digital technologies, prioritizing long-term success over short-term gains, and serving society with ambition and integrity. We serve our clients' real economic needs in commercial and investment banking, retail banking and transaction banking, and provide ground-breaking products and services in asset and wealth management. That means a career packed with opportunities to grow and the chance to shape the future of our clients.

Role Summary:

In accordance with Anti-Money Laundering Requirements, banks, such as Deutsche Bank AG ('DB'), are obliged to perform Know-Your-Client ('KYC') reviews on all new clients they adopt and periodic reviews of these clients as per their risk category. These checks and reviews are made in strict accordance with regulatory requirement and the bank's internal policies. Responsibilities of KYC Analyst include verification of client data, performing due diligence checks, reviewing KYC documentation, and risk assessment, liaising with the Business and Compliance/AML teams and advising on KYC requirements.

Key Responsibilities


Perform new client adoptions and periodic reviews for clients by;

  • Confirming KYC data requirements,
  • Collecting relevant KYC information,
  • Undertaking research via internal and external sources,
  • Gathering and analyzing KYC documentation in accordance with regulatory and Deutsche Bank AML policy requirements
  • Classify clients from a risk and regulatory perspective
  • Undertake KYC due diligence reviews in a timely manner, as per Deutsche Bank policies
  • Analyze AML risks associated with the client. Potential risks and operational issues should be identified and escalated as appropriate
  • Work effectively with key stakeholders using strong influencing skills to ensure the mutually satisfactory resolution of key issues and that the respective responsibilities are understood, agreed, and escalated where required
  • Identify 'red flag' situations and escalate in line with Deutsche Bank policies and procedures
  • Appropriate and confidential handling / sharing of sensitive client data
  • Ensure KYC documents are indexed and loaded in the document image system that validate the risk profile for the customer
  • Implement any required change in static data and resolution of any matters arising from the review
  • Contribute ideas and participation to further improve and streamline the KYC processes

You will have: (Skills/Experience):
  • Experience (AML/KYC/compliance related) within the corporate financial services industry and/or research/analytics role in other banks or financial institutions
  • Familiarity with AML/KYC regulations and industry guidelines (FSA, JMLSG, 3rd EU Money Laundering Directive, MiFID, US PATRIOT Act, US Bank Secrecy Act, US Foreign Corrupt Practices Act (FCPA) and UK Bribery Act)
  • Understanding of Control, Compliance/AML and Investigation functions in the banking industry
  • Understanding of the possible implications of financial sanctions on banks and financial institutions (OFAC, HM Treasury, EU and UN sanctions)
  • Understanding of the end to end KYC and client on-boarding processes
  • Strong research background and ability to understand the implications of financial sanctions on individuals/blocked person's/Specially designated nationals (SDN's) and risks of dealing with them
  • Ability to understand the risks of dealing with politically exposed persons (PEP's) and regulatory expectations around dealing with PEP's
  • Understanding of sourcing information from various data sources,(Bloomberg, Factiva, Lexis Nexis etc.) and in several cases utilizing financial reports and audited statements for such purposes
  • Basic understanding of stocks, corporate and wholesale banking products
  • Ability to interpret regulatory guidelines and assessment risk scores
  • Ability to interpret alerts, identify trends and inconsistencies
  • Strong reading, comprehension and critical reasoning skills
  • Attention to detail, strong analytical and problem solving skills
  • Effective communication skills at all levels and across all internal and external stakeholders groups
  • Proficient with MS Office applications
  • Expertise in web search techniques
  • Ability to recognize issues and troubleshoot appropriately
  • Ability to translate and apply policies into routine processes

You will be: (Skills/Competencies):
  • Able to work independently and take ownership of client cases
  • Open minded, - able to share information, transfer knowledge and expertise to fellow team members
  • Excellent team player, - able to work collaboratively in a team and a matrix organization towards achieving collective goals
  • Fluent in both written and verbal English (additional languages are an advantage)

  • Bachelor's degree from an accredited college or university (or equivalent)
  • AML qualification (e.g. CAMS) and or post graduate Compliance degree is an advantage

For candidates applying for positions in the US:

Deutsche Bank is an Equal Opportunity Employer - Veterans/Disabled and other protected categories. Click these links to view the "EEO is the Law" poster and pay transparency statement.

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