KYC Officer - Banking Operations - Shanghai - 20181023004
- Shanghai, Shanghai Shi, China
- Permanent, Full time
- Societe Generale
- 17 Nov 18
KYC Officer - Banking Operations - Shanghai - 20181023004
Societe Generale is one of the leading financial services groups in Europe. Based on a diversified and integrated banking model, the Group combines financial solidity and a strategy of sustainable growth.
Job Summary / Job Purpose
OPER/KYC carries out on a worldwide basis two main missions within SGCIB:
- Perform verification and controls pertaining to the identity and reputation of clients (customer due diligence) so as to ensure compliance of the Bank with both China local regulatory obligations of AML/CTF vigilance and related SG group policy requirement; and validate the acceptability of the client relationship per internal compliance standards and procedures.
- Ensure the relevance, quality and accuracy of main client description and categorization attributes in SGCIB and SG Group client data bases
Main Responsibilities /Accountabilities / Tasks
Customer Due Diligence
- Identify the customer/s and other relevant third parties for a proposed relationship; establish the nature of the customer's business, risk profile, understand the context of the proposed transaction and services
- Determine appropriate methodology and due diligence approach and information required to verify the identity of the customer and relevant third parties based on global policy and local regulatory requirements.
- Assess the relevance and completeness of information supplied by the Front Office upon the take on of new customers and provide guidance to Business Lines on KYC requirements
- Carry out due diligence checks and information searches per standards of client take on and categorization rules, and undertake additional reputation checks and enhanced due diligence when necessary by screening various public sources
- Analyze and form an opinion on a) the acceptability of the customer/counterparty, b) completeness of the KYC file and c) compliance with internal policy and external regulatory requirements.
- Validate the customer/counterparty on the client referential system in accordance with the KYC assessment, indicating appropriate roles and restrictions, as necessary
- Present the file and KYC analysis to Compliance for review/approval when required or necessary, highlighting material risks or concerns as well as any exceptions or missing information based on internal policy or external regulatory requirements.
- For existing clients, conduct reviews based on designated portfolios in cooperation with Business Lines, the worldwide KYC network and other relevant support functions
- For ongoing reviews or local validations, verify the relevance of client information and data and when required, review the analysis of the risks related to the business activity and products traded with the client and the related classifications and roles in the client referential system.
- Proper documentation and record keeping of KYC/Customer Risk Scoring/CDD/EDD processes for audit trial and regulatory inspection.
- Possibility to be team leader, depending on seniority of the candidate
- Other tasks or projects assigned from time to time.
- Complete and validate the KYC file in the information systems while ensuring the proper readability of information as well as the quality and coherence of data attributes
- Maintain and update client data (e.g. change of name, change of address, merger with other entity, change of ownership) in the client referential database during the review process or when Front Office advise KYC such information
- Ensure customer roles, information, restriction and other specific notations are documented in the client referential and customer database.
Academic Background(degree and major)
University Degree in Banking, Finance, or Accounting
Working Experience /Technical Skills & Know how
Two to five years working experience in a financial institution, with at least one year performing client due diligence/AML/KYC assessments for corporate and institutional customers. Candidates with experience in evaluating higher risk files will be prioritized
Skills & Competencies
Key Skill Areas & Knowledge Required
- Transversal knowledge of the services and products of the corporate and investment banking sector, and/or specialist knowledge of one business area. Candidates with experience in customer due diligence for funds/hedge funds experience will be prioritized
- Ability to examine in detail and understand the structure of a financial transaction, understanding of key issues in relation to AML risk, ability to identify relevant sources of information
- Strong knowledge of China AML/KYC regulatory and compliance issues particularly in the banking and investments sectors, to ensure our KYC standard is compliant with local regulatory requirements
- Sensitivity to the demands and constraints of a capital market environment and financing activities
- Ability to work independently and proactively manage relationships with the local BLs and Compliance with minimum supervision.
- Ability to assess appropriate practical guidance and solutions to onboarding issues without compromising internal controls, policy requirements or external regulatory requirements.
- Capable of delivering various briefings and trainings to the BLs re: KYC policy/regulations and client onboarding process.
- Analytical skills, precision, curiosity, tenacity and autonomy are key qualities in a KYC Analyst job
- Fluent in written and spoken English language and Mandarin;
- Good interpersonal and communication skills, reactivity, sense of service, anticipation and flexibility are essential requirements in this service function
- The position requires effectiveness, team spirit and an ability to work in a fast-paced and demanding environment as well as a strong interest in financial markets and banking activities
- Eagerness to learn and to keep abreast of AML latest issues
- Leadership skills
Fluent English spoken and written skills
Good knowledge of Microsoft Office applications, esp. Excel operation
Internal & External Business Relationship (if applicable)
KYC network as well as other relevant departments including Compliance, Risk and the Business Lines in order to complete the KYC validations as efficiently as possible