Client Verification Team Senior Specialist (KYC Analyst/KYC Reviewer/KYC Screening) - Penang

Position Overview

The selected candidate will be instrumental in upholding stringent adherence to anti-money laundering regulations, sanctions protocols, and all pertinent laws and internal policies.

Client Verification (KYC)

Execution of Client Verification (KYC) responsibilities as outlined in the global Client Lifecycle Management (CLM) framework, Global Screening guidelines, and WLF Screening procedures for clients, under the mentorship of the local Team Head – KL within the CVT.

Account Management

Facilitation of account initiation and maintenance of documentation for Corporates and Financial Institutions, which includes scrutinizing and authenticating customer documentation for account opening. Responsibilities also involve updating customer information, managing signing mandates, and ensuring the thoroughness of customer files. This role is accountable for the continuous evaluation of account opening protocols and documentation revisions, alongside recommending process improvements where necessary.

Additional responsibilities include updating and managing static data in the Bank's core systems and verifying signatures.

Key Responsibilities

General Duties

Comprehend and adhere to the CTS Code of Conduct.

Client Verification

• Familiarize with the Global Client Lifecycle Management (CLM) framework, Global Screening guidelines, and WLF Screening procedures (including local addenda).
• Understand the CTS framework, client segmentation, and products/services available to clients across international Commerzbank locations.
• Carry out designated tasks during the onboarding, routine and event-driven reviews, account initiation, closure, and off-boarding of Corporate Clients and NBFIs.
• Evaluate the quality of initial client data submitted by Client Owner(s) / Business Unit(s).
• Ensure completeness and accuracy of essential KYC documentation and data provided by Client Owner(s) / Business Unit(s).
• Authenticate information and documents supplied by Client Owner(s) / Business Unit(s), including client's identity, Beneficial Ownership, and Bearer share data.
• Monitor and address documentation deficiencies, escalating non-receipt of documents in a timely fashion.
• Conduct screenings on clients, beneficial owners, related parties, legal representatives, and authorized signers as defined by CLM procedures.
• Assess screening outcomes; request additional information and escalate as needed.
• Carry out adverse news screenings and analyze results; obtain further information and escalate as necessary.
• Execute ongoing (manual and/or system-based) screening processes, including alert clearance in the relevant systems.
• Resolve discrepancies between client-provided information and verification results in collaboration with Compliance before finalizing onboarding/reviews.
• Assign Customer Risk Ratings (CRR) following the global CRR methodology governed by Compliance.
• Implement manual overrides of calculated Customer Risk Ratings as authorized by Compliance.
• Ensure appropriate Due Diligence levels are applied during client onboarding and reviews.
• Assist in account creation and closure activities.
• Document Client data elements and Due Diligence checks accurately in relevant CLM systems.
• Process changes to client KYC data upon receipt, ensuring thorough documentation.
• Coordinate with Client Owner(s) and Compliance to clarify issues and resolve queries as they arise.
• Escalate matters to the Local Head of CVT for further guidance as needed.
• Investigate, communicate, and escalate any issues identified during the KYC process.
• Support efforts related to regulatory changes, system updates, or enhancements.
• Assist with remediation reviews.
• Fulfill miscellaneous responsibilities as assigned.

Account Management

• Ensure compliance with AML, Sanctions, KYC policies, procedures, and regulations.
• Oversee the timely creation and upkeep of static data (clients, counterparties, SSI's).
• Ensure daily operations adhere to ComRules, published workflows, and guidelines.
• Implement internal controls effectively within executed processes.
• Collaborate closely with the business and Compliance to secure complete documentation for the timely establishment of client accounts in the relevant systems.
• Follow up on outstanding (client-related) documentation and provide regular status updates on discrepancies to Management when necessary.
• Maintain client account opening documentation files in relevant systems.
• Conduct signature verification.
• Offer suggestions for work processes/procedures to enhance efficiency and operational controls.
• Assist with additional duties or projects as directed by the Local Head of Department.

Educational Background:

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

Qualifications and Skills

• Experience in Client Onboarding (KYC) and/or Account Administration operations, as well as Anti-Money Laundering functions within a sizable financial institution.
• International experience is advantageous.
• In-depth knowledge of Financial Crime prevention, local and international sanctions, and KYC protocols.
• Familiarity with global/local regulatory requirements and industry practices.
• Compliance with all internal and external laws, policies, and guidelines, including ComValues, Culture of Integrity, Code of Conduct, ABC Policy, TRM, etc.
• Ability to analyze and interpret business and legal documents pertinent to the KYC process.
• Experience in conducting screenings and managing potential alerts related to adverse news, sanctioned entities, and prohibited individuals.
• Proficient in the use of the MS Office Suite.
• Fluency in English; proficiency in German and/or other languages is a bonus.
• Exceptional analytical, verbal and written communication, and interpersonal skills.
• Strong attention to detail.
• Advanced time management skills with the ability to complete tasks within tight timelines.
• Capacity to work independently.
• Positive attitude towards collaborative responsibilities and engaging with colleagues.
• Active involvement in daily operations.
• Resourceful with effective motivational and conflict resolution skills.