Associate, Client On-boarding - Quality Control Associate, Client On-boarding - Quality Control …

MUFG
in London, United Kingdom
Permanent, Full time
Last application, 23 Jan 21
Competitive
MUFG
in London, United Kingdom
Permanent, Full time
Last application, 23 Jan 21
Competitive
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with around 3,000 offices in more than 50 markets. The Group has over 180,000 employees, and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

The Client On-Boarding team is part of the Client Management Services, which is situated within the Corporate and Investment Banking Division of MUFG Bank. However, this function acts as a centralized 1st line support team, providing support to Investment Banking and Corporate Banking in EMEA, Capital Markets and MUFG Securities both in London and in Amsterdam.

 

NUMBER OF DIRECT REPORTS

0

 

 

MAIN PURPOSE OF THE ROLE 

 

This individual will be responsible for conducting Quality Control (QC) assessments across new on-boarding, Periodic Reviews and Event Driven Reviews – including KYC and Regulatory Classifications. The Client On-Boarding Team covers a highly varied portfolio of Circa. 6,000 entities – ranging from simple listed customers, to much more complex structures, entities and product offerings, as such it will be key for this individual to fully understand all customers and to assist the lead to design effective Quality Control program – identifying and escalating risks appropriately.

 

This function is critical during both on-boarding and other reviews to ensure that the KYC process effectively mitigates the risks of Money Laundering, Bribery and Corruption, reputational and any other associate risks. With this in mind, the successful individual needs to have good experience within KYC, and a demonstrable strong knowledge of the AML/KYC environment.

 

Key stakeholders in this role are; Operational KYC counterparts, QA Counterparts, Financial Crime (2nd line of Defense), Front Office RM/Trader/Account Officers and Audit. Working closely with stakeholders to both standardize and clarify requirements and proactively identify future issues with procedures/process. Driving forward and influencing change is therefore essential in this role.

 

This function will also assist the lead in the development and roll out of a suite of training (related to requirements / roles and responsibilities) for new and existing individuals within the team and for those within the various front office functions, where required. Working closely with individuals to improve the understanding of both the process and the underlying rationale for requirements.

 

KEY RESPONSIBILITIES

 

In this role, you will be responsible for KYC across MUFG’s banking arm and securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the bank and the securities business, subject to the same remit and level of authority and irrespective of the entity which employs you.

 

  • Ensure that thorough and effective Customer Due Diligence is completed, by conducting Quality Control Assessments on entities/structures across all business lines (predominantly the complex structure/entities/product offerings) – including New Business, Periodic Reviews and Event Driven Reviews. Raising issues and ensuring appropriate actions are undertaken before KYC approval.
  • Identifying thematic issues within the On-Boarding process, highlighting to management and recommending appropriate actions.
  • Liaising with Quality Assurance on any issues identified within the QA process, to consider impact and where needed make relevant changes to the QC process. In addition, where remedial action is required – liaising and notifying the operational leads accordingly.
  • Liaising with Financial Crime KYC team on any issues identified within the 2nd line checks / testing, to consider impact and where needed make relevant changes to the QC process. In addition, where remedial action is required – liaising and notifying the operational leads accordingly.
  • Supporting the lead to understand, challenge and implement any changes to procedures.
  • Assist in the development of a suite of Training for New & Existing Team members on all KYC/On-Boarding procedural related aspects.
  • Deliver training, where required, to front office representatives on KYC/On-Boarding procedural related aspects.
  • Deliver and support lean processes, to deliver effective and efficient KYC process.
  • Training and Development of more junior members of the team
  • Act as a Subject Matter Expert in relation to all AML On-Boarding aspects, assisting on ad-hoc queries where required.
  • Support the QC Lead, producing relevant reports to key counterparties, identifying and resolving Anti Money Laundering issues, and providing support/guidance to more junior members of the team.
  • Keep abreast of developments in current trends and progress on money laundering, bribery and corruption and it prevention.

 

WORK EXPERIENCE

 

  • At least 3 years’ experience in Anti Money Laundering, fraud and bribery or Financial Crime roles [ESSENTIAL]
  • Experience with Investment Banking & the On-Boarding of Corporate entities (Inc. Private Companies and SPVs) [ESSENTIAL]
  • Experience of managing a KYC team or function. [BENEFICIAL]


 

SKILLS AND EXPERIENCE

 

Functional / Technical Competencies:

  • Awareness of UK & European Anti-Money Laundering regulations [ESSENTIAL]
  • Knowledge of various corporate structures [ESSENTIAL]
  • Able to communicate effectively to key stakeholders at all levels. [ESSENTIAL]
  • Attention to detail is essential [ESSENTIAL]
  • Ability to effectively utilize Microsoft Office (particularly word & excel). [ESSENTIAL]

 

Education / Qualifications:

  • Degree Level or relevant industry experience [ESSENTIAL]
  • Relevant qualifications in Anti Money Laundering, fraud and bribery or Financial Crime roles. [BENEFICIAL]

 

PERSONAL REQUIREMENTS

 

  • Excellent communication skills
  • Results driven, with a strong sense of accountability
  • A proactive, motivated approach.
  • The ability to operate with urgency and prioritise work accordingly
  • Strong decision making skills, the ability to demonstrate sound judgement
  • A structured and logical approach to work
  • Strong problem solving skills
  • A creative and innovative approach to work
  • Excellent interpersonal skills
  • The ability to manage large workloads and tight deadlines
  • Excellent attention to detail and accuracy
  • A calm approach, with the ability to perform well in a pressurised environment
  • Strong numerical skills
  • Excellent Microsoft Office skills
  • A confident approach, with the ability to provide clear direction to more junior members of the team
  • A strategic approach, with the ability to lead and motivate more junior members of the team 

 

PERFORMANCE AND DUTIES

The role holder will be assessed in accordance with their employing entity’s performance framework and process with relevant input obtained from the dual hatting entity as relevant.

As duties and responsibilities change, the job description will be reviewed and emended in consultation with the role holder. The role holder will carry out other duties as are within the scope, spirit and purpose of the role as requested by their line manager or Department Head.

 

MANAGING CONFLICTS OF INTEREST

  • The role holder will have responsibilities for both MUFG Bank and MUFG Securities EMEA plc.
  • The role holder will be required to perform their duties and responsibilities on an entity neutral basis, without favour.
  • The role holder is required to follow regulatory requirements applicable to ensure each business is appropriately supported and to maintain the legal entity integrity of each of MUFG Bank and MUS.
  • Working terms are dictated by functional mandates, the terms of the Dual-Hat Arrangement Agreement in place between MUFG Bank and MUFG Securities EMEA plc and any other relevant agreements entered into between MUFG Bank and MUFG Securities EMEA plc.
  • The role holder will have responsibility for identifying and resolving where there may be a difference or conflict in needs between MUFG Bank and MUFG Securities EMEA plc, escalating to their manager where required.

 

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.

 

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