HSBC Group

Business: Global CDD Operating Unit
Open positions: 1
Role Title: CDD QC Analyst GSC’s
Global Career Band: 7
Location:  Bangalore
Recruiter Name: Aliya S
Why join us?

WPB Risk Operations sits within HOST operations. The objective of WPB Risk Operations is to provide Global Banking & Markets and Commercial Banking & Retail Banking clients with a globally consistent, and best in class KYC process, in over 50 countries. It ensures that KYC profiles are prepared in accordance with Group and Regulatory Policy, obtaining documents as required from the client/ relationship manager, undertake all the necessary due diligence checks and ensure appropriate escalation is followed according to Policy requirements.

KYC Operations is responsible for providing centralized services via KYC production teams, validation of clients in support of both client on-boarding and periodic maintenance of client information. It has been tasked with creating a KYC utility service to provide a consistent approach for KYC across the 54 countries of the Group for all the LoB. The organization is expected to go through a transformation for the next 5 years where new policies, processes and technologies will be implemented. Throughout this time, the organization will need a dedicated, senior process manager that will drive organization’s continuous improvement activities.

WPB Risk Operations sits within the Group KYC Operations Business Service, formed with the objective of providing Retail Banking and Wealth Management with a globally consistent & best in class CDD/KYC process.
The Opportunity:

The role encompasses a number of tasks involving KYC analysis for RBWM line of business focusing primarily on regulatory sensitive work. Focus is on high quality and hence aspirants are expected to conform to AML Regulations, policies/procedures.  This role also involves liaising with onshore Product specialists and Relationship Managers (RM’s) to ensure timely resolution of queries. 
What you’ll do: 

Impact on the Business/Function

Operations

• Complete end to end customer due diligence based on LOB procedures for all individual client types

• Navigate through system records, existing document repositories and publicly available information to complete due diligence.

• Maintain customer files by compiling available information and consolidating into the KYC system (e.g. BPM)

• Undertake CDD review process steps like risk assessment, customer screening, Source of Wealth determination, ID&VA and KYC

• Perform Negative News & Facts Screening using tools prescribed by in-country FCC Team (e.g. LexisNexis, Factiva, etc)

• Using reliable websites, analyze the Source of Wealth information and provide a concise summary for the Relationship Manager to comprehend the details and obtain the necessary information from client to complete the SOW.

• Determine the Source of Wealth (SoW) specifics such as Net worth, tangible & intangible assets and Source of Wealth Type using Financial Statements and independent, reliable sources such as Forbes report.

• Provide logical justification for the decisions taken when completing the CDD profile

• Identify Exceptions & Approvals required as per LOBP and ensure they are in place prior to profile being approved.

• Identify the Financial Crime Risk Indicators to escalate to in-country FCC.

• Ensure Data Quality controls are maintained, and data elements captured correctly.

Typical Targets and Measures

• Thorough knowledge of LOB procedures and AML policies for all client types.

• Managing requests assigned in a timely and accurate manner, contributing towards positive client experience of the end-to-end remediation process.

• Taking ownership of KYC Review related problems as they arise working closely with all CDD functions, and respective line of business to ensure bottlenecks are resolved in an efficient and timely manner.

• Thorough knowledge of LOB procedures and AML policies for all client types.

• Managing requests assigned in a timely and accurate manner, contributing towards positive client experience of the end-to-end remediation process.

• Taking ownership of KYC Review related problems as they arise working closely with all CDD functions, and respective line of business to ensure bottlenecks are resolved in an efficient and timely manner.

• Appropriate identification of negative news & facts using reasonable judgment and create a report for escalation to in-country FCC team when negative news/facts is identified.

• Highlight Financial Crime Risk Indicators promptly to the appropriate risk functions.

• Ascertain the appropriate financial information used to finalize the customer’s CDD profiling.

• Provide a accurate summary of clients Source of Wealth inclusive of all the details from various sources to ascertain how the individual made the first one million up to the current net worth.

• Adhering to all performance level agreements at all times.

• Complete CDD related duties as assigned.

• Complete other related duties as assigned.

• Proactively develop understanding of the business and product area thus creating a knowledge base with in CDD

• Working closely with the Assistant Managers and Quality Checking Analysts providing support and coverage as appropriate

• Interact with different teams namely RM’s, Client Liaison teams, Account opening, KYC to resolve the issues

• Complete tasks within Service Level Agreements (SLAs)Working closely with the Assistant Managers and Quality Checking Analysts providing.

• Ability to work with tight deadlines and under pressure.

• An active participant during crisis management and process team meetings and Provide support and guidance to your peer group in order to meet CDD objectives.

• Own the profile management of requests assigned.

• Contributing to positive and productive environment through openness, flexibility, positive attitude and prompt reporting and escalation of issues and proper time management.

• Should be an active team player.

• Operational Effectiveness & Control Identifying the customer’s issues and queries accurately. The issues and queries should be analyzed, resolved and answered by following the standards, procedures, policies and group guidelines.

• Perform activities as per the set quality standards and meet quality parameter defined in for the process. Work on feedback and ensure errors are not repeated.

• Adhere to the compliance/ audit requirements set and communicated by the GSC management; keep the confidentiality of sensitive information of users; ensure breach of confidentiality is immediately bought to the attention of the line manager.

Customers / Stakeholders

• Maintain relationships with internal stakeholders in the Customer Due Diligence (CDD) services department, LOB front office, AML Compliance and other areas to help ensure requisite support for timely completion of CDD Reviews

• Liaise with Relationship Managers, Middle Office Team and Business Management team to complete the CDD reviews

• Maintain professionalism during interaction/communications with customers/RM/Middle Office (including phone/written correspondences) as part of the process to complete CDD Reviews

• Deal with customer’s enquiries in a positive and timely manner

• Deliver outstanding customer service to all internal and external customers representing customers needs and helping stakeholders achieve strategic goals aligned to customer needs

Leadership & Teamwork

• Deliver updates to the front line and KYC Services on trends and issues that surfaced in the risk review process to help create and maintain a compliance culture.

• Maintain awareness of AML policy updates, procedural changes and updates in compliance guidance which forms the basis for how we assess money laundering and terrorist financing risk.

Operational Effectiveness & Control

• Ensure activities comply with applicable internal policies and procedures and external regulation.

• Escalate more complex or significant issues to manager to ensure their timely resolution.

• Participate in special KYC Services review, projects and training efforts, as required.

Major Challenges 

• Need to build thorough knowledge and understanding of LOB procedures and other policies. Ability to recall and navigate different client types having different ID&V/KYC requirements.

• Ability to adapt to the complexities involved in collaborating source of wealth specifics from multiple sources (including independent websites) to arrive a holistic Source of Wealth (SoW) description which the front line (line of business) can also comprehend and challenge clients as necessary to obtain the necessary information.

• Ability to continuously track and adopt changes to policies & procedures which are expected to remain dynamic in the near future.

• To complete the CDD Reviews in a timely manner and ensure periodic review timelines are adhered as per the final risk rating for the client

• The most significant challenge in the role is ensuring the highest standards of customer service in terms of timeliness and customer experience, as these are key services that also differentiate the bank’s offerings to customers and will accordingly impact customer loyalty and future business customer intends to do with HSBC.

• To fully understand the existing regulatory environment and processes of the business and impact on day-to-day activities.

• To be aware of changes in the AML and compliance world which will impact performance.

Management of Risk 

• To abide by the Group business risk and control management policy by containing Information risk in conjunction with relevant compliance Department. The term compliance embraces all relevant laws, rules and codes with which the business has to apply.

Observation of Internal Controls 

• To maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.

What you will need to succeed in the role:

• Review customer profiles to identify possible patterns of money laundering and terrorist financing activity, ensuring compliance with applicable internal policies and procedures and external regulations.

• Demonstrate strong understanding of Source of Wealth and Source of Funds of individual clients.

• Proficiency in analyzing Source of Wealth and Source of Funds using limited information from multiple sources (e.g. Forbes report, company website, etc)

• Perform PEP/Sanctions and Negative News Screening using industry standard tools such as World-check, LexisNexis, FACTIVA, etc

• Conclude whether further investigation is warranted based on a reasonable assessment of information obtained from reliable and independent sources.

• AML qualification (e.g. ACAMS) and or post graduate Compliance degree is an advantage.

• Support the Middle Office or Client Contact Unit team is completing the Approval process.

• Review, collect and transmit supporting details to the front line (line of business) upon conclusion of review.

• Prioritize work to ensure re-works and Post Approval work is complete on time;

• Adhere strictly to compliance and operational risk controls in accordance with Company and regulatory standards, policies and practices, report control weaknesses, compliance breaches and operational loss events.

• Follow appropriate escalation matrix and proactively highlight questionable profiles based on logical reasoning against text-book approach towards procedures.

• Keep current with understanding of systems, policies, procedures and US regulations.

• Provide a supporting role to on-shore business partners. Assist in reviewing alerts and provide support on all AML and KYC monitoring functions performed by Global CDD;

• Work on short-term projects/assignments with primary focus on quality

What additional skills will be good to have?

• A bachelor’s degree or with equivalent industry/functional experience. Functional experience needs to be minimum of 2 years’ experience in reviewing customer profile to ensure they meet the AML/Sanctions/KYC requirements (E)

• Experience in working on High Risk, SCC, High Net worth customer retail and entity profiles.(E)

• Contribute to higher STP and Maintain rejection rates below 5% by optimal usage of Inference Document.(E)

• Prior Experience in writing plausibility statement for customers on similar Enhanced Due Diligence roles is an added advantage (E)

• Experience of working with tools such as CRT,GWIS,DMS, RMCI etc (D)

• Computer literate and ability to work on basic applications like MS Excel, MS Word and Lotus Notes (E)

• Excellent Communication skills in English – written and verbal (E)

• Ability to be flexible and willing to change along with changes in corporate and department objectives in addition to recommending changes to assist in meeting these objectives. (E)

• Ability to learn quickly and adapt to evolving and changing priorities. Procedures change frequently; selected candidates are expected to implement the changes immediately with minimal training. (E)

• Ability to learn quickly and adapt to evolving and changing priorities. Procedures change frequently; selected candidates are expected to implement the changes immediately with minimal training. (E)

• Ability to meet daily target and stretch target.(E)

• Is self-motivated, pragmatic - sense of urgency is a must (E)

• Willing to work a flexible schedule to accommodate business needs.   (E)_
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  HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”

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