Customer Due Diligence Analyst

JOB PURPOSE

The role holder is responsible for conducting Client Identification Process (CIP) and Customer Due Diligence (CDD) reviews for assigned portfolio of existing customers in support of the department to manage and mitigate financial crime risk and ensure regulatory compliance.

Key Responsibilities

Core Responsibilities

§ Drive customer-centric initiatives by balancing regulatory compliance with an enhanced customer experience, ensuring the due diligence processes are efficient, transparent and aligned with the bank's customer service standards to ensure a seamless customer journey at the time of onboarding and CDD refreshers.

§ Performs standard Customer Due Diligence (CDD) and Enhanced Customer Due Diligence (EDD) on current, new and/or potential customers within BANK Bahrain and FIs for BANK branches as assigned by team leader and manager. Customer Due Diligence (CDD) is applicable for low/medium risk customers while Enhanced Customer Due Diligence (EDD) for high-risk and very high-risk customers.

§ Ensure that relevant customer information and documentation is collected to develop an understanding of normal and expected activity based on the customer business operations.

§ Monitor, research, analyse, and address all essential compliance activities including but not limited to drilling down on beneficial ownership for higher risk clients, identifying politically exposed (PEP) individuals, negative media, and sanctions issues.

§ Solve problems and investigate/resolve a wide variety of issues and requests that include gathering additional information, setting expectations, and working with other intra or inter department stakeholders to fulfil customer requests.

§ Ensure information and documentation provided by the customers or intra-department stakeholders is correct and in good form, to ensure maintaining high quality standard, high productivity, and produce high quality KYC forms.

§ Collaborate with internal stakeholders to implement policies and procedures that promote a risk based yet customer friendly approach to due diligence

§ When applicable, for High-risk and very high-risk customers, compliance approval is sought for all periodic reviews, onboarding and trigger-based reviews

§ Proactive outreach to customers that fail KYC to encourage/assist them with the completion of the renewal process.

§ Ensure managing unsatisfied customers, which may occur when raising KYC questions, in a professional manner.

§ Ensure adequate responses on all request for information (RFIs) and requests sent by compliance, in addition to executing the actions and outcomes from the RFIs. Furthermore, ensure thorough and cohesive responses to all relevant RFIs on the reverse KYC requests as well as any RFI raised through liaising with relevant internal and external stakeholders whilst ensuring comprehensive responses are sent without breach of due dates.

§ Prepare and adequately support by providing recommendations to escalate in reference to potential unusual activity. Whilst demonstrating capability of conducting a full investigation including Suspicious Activity Report (SAR) and producing recommendations and drafting SAR narratives to report activity deemed unusual.

§ Escalate all necessary issues to management in a timely fashion in a proper and structural manner without tipping-off.

§ Maintain strong good working relationship with the Customer Service Executive, Relationship Mangers and other intra-department stakeholders.

§ Maintain strong working relationship with Compliance and other relevant inter-department stakeholders.

§ Identify and report uncooperative customers to the Team Leader, Account Maintenance and liaise with Team Leader to apply the relevant consequence management measures accordingly.

§ Ensure attending KYC/Anti Money Laundering (AML)/Combating the Financing of Terrorism (CFT) training sessions/courses as assigned.

§ Operate in full compliance with internal policies and procedures as well as applicable regulations and laws, including Financial Crime Module of the CBB rulebook.

§ Stay abreast of policy and regulatory changes to maintain subject matter expertise. Remain cognizant of relevant quality assurance policies and procedures.

Other Responsibilities

§ Data Management: Assist with performing ongoing monitoring of the accuracy of existing customers key data elements. Identify and advise management of risks/trends in terms of achieving and maintaining satisfactory data accuracy.

§ Assist with clean-up efforts to remediate key data where required.

§ Assist with applying the consequence management measures on uncooperative clients identified by BSU or flagged through compliance.

§ Benefit/CRB Portal Access: At all times, employee should ensure authorized access to the respective customer credit reports through securing customer prior consent.

§ Maintain confidentiality and observe data protection and associated guidelines where appropriate.

§ Ensure that logs for different activities undertaken within the department are recorded and kept ready for management as and when requested.

§ Maintain confidentiality and observe data protection and associated guidelines where appropriate.

Self-Management Responsibilities

§ Defines performance goals at the start of the year in discussion with the reporting manager and ensures that the goals are monitored and achieved during the course of the year.

§ Takes ownership of his/her own learning agenda by identifying development needs in consultation with the reporting manager and working towards bridging the gaps through various means which go beyond just training.

§ Understands the competencies relevant to his/her role and works towards displaying as well as developing these effectively.

§ Keeps abreast of relevant professional/industry developments, new techniques and current issues through continued education and professional networks.

KEY PERFORMANCE INDICATOR

§ Ensure to meet the target expiry ratio for all assigned accounts.

§ Satisfactory quality of KYC review and handling of customers. All assigned accounts KYCs must be updated and in line with AML requirements/Compliance policies and procedure.

§ Ensure accurate and timely reporting of all KYC activities (e.g. KYC validation, KYC renewal, etc.)

§ Cross-selling of bank's products and services.

§ KYC/AML/CFT Responsibility which includes raising Suspicious Transaction Reporting (STR) and completing the required training.

§ Ensure authorized access customers' credit reports.

QUALIFICATIONS AND EXPERIENCE

Threshold Qualifications

• Bachelor's degree in any related subject or equivalent is required.

Years & Nature of Experience

• Minimum 1-2 years of practical experience in a bank or same or similar function.

SKILLS AND COMPETENCIES

Competencies

§ Good listener with good communication skills, both verbal and written

§ Strong analytical skills and ability to convey results of analysis in well written KYC forms

§ Ability to work independently and as part of a team

§ Ability to use judgment to address all issues.

§ Ability to partner with Compliance and other stakeholders

§ Detail oriented with strong time management skills and the ability to work well under pressure

§ Able to work well in a fast-paced environment while handling complex client situations

§ Problem-solving ability. The ability to handle and resolve difficult situations, conflicts and complaints in a calm manner.

§ Ability to apply and challenge principles of risk-based KYC, client risk assessment and the products used in a retail and commercial banking business

§ Proficient with Microsoft Suite Applications, including Outlook, Word & Excel

Job Types: Full-time, Contract

Contract length: 12 months

Pay: BD BD per month