Client Verification Team Junior Specialist/Specialist (KYC Analyst/KYC Reviewer/KYC Screening)

Overview

The selected candidate will be instrumental in ensuring adherence to anti-money laundering regulations, sanctions compliance, as well as all pertinent rules and internal protocols.

Client Verification (KYC)

Execution of responsibilities specific to the Client Verification (KYC) Analyst role as outlined in the global Client Lifecycle Management (CLM) procedure, Global Screening procedure, and WLF Screening of clients procedure (including respective local addenda) under the supervision of the Head of CVT.

Account Administration

Management of account opening and ongoing maintenance of documentation for Corporates and Financial Institutions, which includes reviewing and verifying customer documentation for account initiation. Responsibilities also include updating customer information, signing mandates, and ensuring that customer files are complete. This position will entail ongoing evaluation of account opening procedures and documentation updates, along with suggestions for process improvements when appropriate.

Additional responsibilities include the updating and maintaining of static data within the Bank's core systems and verifying signatures.

Key Responsibilities

General

Familiarize and adhere to the CGSS Code of Conduct.

Client Verification

• Comprehend the Global Client Lifecycle Management (CLM) procedure, Global Screening procedure, and WLF Screening of clients procedure (along with respective local addenda).
• Understand the CGSS structure, client segmentation, and the products/services offered across international Commerzbank locations.
• Execute designated tasks related to onboarding, routine and event-driven reviews, account openings, account closures, and offboarding of Corporate Clients and NBFIs.
• Evaluate and verify the quality of initial client data provided by Client Owner(s) / Business Unit(s).
• Validate the completeness and accuracy of mandatory KYC documentation and information provided by Client Owner(s) / Business Unit(s).
• Verify information and documentation submitted by Client Owner(s) / Business Unit(s), including client identity, Beneficial Ownership, and Bearer share information.
• Monitor and follow up on any documentation deficiencies, escalating non-receipt of documents promptly.
• Conduct screenings on clients, beneficial owners, associated parties, legal representatives, authorized signers/traders, and others as specified by CLM procedures.
• Manage the disposition of screening results; solicit additional information and perform escalations as necessary.
• Perform adverse news screenings and manage the disposition of results; request further details and escalate as needed.
• Complete assigned tasks as part of the ongoing screening process, including alert clearance in the respective systems.
• Resolve discrepancies between customer-provided information and that obtained during verification in collaboration with Compliance before finalizing onboarding/reviews.
• Determine Customer Risk Rating (CRR) based on the global CRR methodology governed by Compliance.
• Execute manual overrides of calculated Customer Risk Ratings as authorized by Compliance.
• Ensure that the appropriate Due Diligence is applied during client onboarding and reviews.
• Assist in account opening and closure processes.
• Ensure that Client data elements and Due Diligence checks are accurately documented in the appropriate CLM systems.
• Process changes to client KYC data upon receipt and ensure proper documentation of actions taken.
• Collaborate with Client Owner(s) and Compliance to address questions and resolve issues as they arise.
• Escalate issues to the Local Head of CVT and seek guidance as needed.
• Review, investigate, communicate, and escalate any issues identified during the KYC process as required.
• Support initiatives related to changes in regulatory landscapes, system enhancements, or updates.
• Assist with remediation reviews as necessary.
• Undertake miscellaneous responsibilities as required.

Account Administration

• Ensure compliance with AML, Sanctions, KYC policies, procedures, and regulations.
• Be responsible for the timely creation and maintenance of static data (clients, counterparties, SSI's).
• Guarantee that daily processes are executed in accordance with ComRules, published workflows, and guidelines.
• Ensure that internal controls within executed processes are effective.
• Collaborate closely with the business and Compliance to ensure the timely receipt of complete documentation for client account creation in relevant systems.
• Follow up on outstanding client-related documentation and provide regular status reports on discrepancies to Management when necessary.
• Maintain client account opening documentation files in relevant systems.
• Conduct signature verification.
• Offer recommendations for process improvements to enhance efficiency and operational controls.
• Assist with other duties or projects as assigned by the Local Head of Department.

Formal Education:

• Bachelor's degree in a Business, Banking, Finance, or a related field.
• Completed apprenticeship/training in the financial sector or equivalent experience.
• KYC/Compliance Certification preferred.

Skills and Qualifications

• A minimum of 1-2 years of professional experience in Client Onboarding (KYC) and/or Account Administration operations and Anti-Money Laundering functions within a large financial institution.
• Experience in an international setting is a plus.
• Strong knowledge of Financial Crime prevention, as well as local and international sanctions and KYC practices.
• Familiarity with relevant global and local regulatory requirements and market practices.
• Comply with all internal and external laws, policies, and guidelines such as ComValues, Culture of Integrity, Code of Conduct, ABC Policy, and TRM.
• Ability to analyze and comprehend business and legal documents pertinent to the KYC process.
• Experience in conducting screenings and managing potential hits related to adverse news, designated sanctions targets, and prohibited persons lists.
• Proficient in the use of MS Office Suite.
• Fluent in English; proficiency in German and/or other languages is advantageous.
• Exceptional analytical, oral and written communication, and interpersonal skills.
• Keen attention to detail.
• Strong time management skills with the ability to meet tight deadlines.
• Ability to work independently.
• A collaborative attitude towards sharing responsibilities and engaging with colleagues.
• Active participation in daily operations.
• Resourceful with strong motivational and conflict resolution skills.