Corporate Trainee - Client Verification Team

Job Overview

The selected candidate will be instrumental in maintaining adherence to anti-money laundering and sanctions regulations, in addition to all pertinent rules and internal protocols.

Client Verification (KYC)

Execution of KYC Analyst responsibilities as delineated within the global Client Lifecycle Management (CLM) procedure, Global Screening procedure, and WLF Screening of clients procedure, along with any applicable local amendments, under the supervision of the local CVT Team Head in Kuala Lumpur.

Account Administration

Execution of account opening procedures and the management of account documentation for Corporates and Financial Institutions, which includes reviewing and validating customer documentation for account initiation. This role involves updating customer data, signing mandates, and ensuring the thoroughness of customer files. The incumbent will also be responsible for the ongoing evaluation of account opening processes and documentation updates, as well as proposing enhancements where necessary.

Additionally, this position includes updating and maintaining static data in the Bank's core system and conducting signature verification.

This role is located in Kuala Lumpur, Malaysia.

Key Responsibilities

Client Verification

• Comprehend the Global Client Lifecycle Management (CLM) procedure, Global Screening procedure, and WLF Screening of clients procedure, along with any local addenda
• Understand the CTS structure, client segmentation/coverage, and the products/services offered to clients across international Commerzbank locations
• Execute designated tasks related to the onboarding, periodic and event-driven reviews, account openings, closures, and off-boarding of Corporate Clients and NBFIs
• Evaluate and verify the quality of initial (potential) client data provided by Client Owners and Business Units
• Validate the completeness and accuracy of essential KYC documentation and information supplied by Client Owners and Business Units
• Confirm the information and documentation provided by Client Owners and Business Units, including but not limited to client identity, Beneficial Ownership, and Bearer share information
• Monitor and address documentation deficiencies while escalating non-receipt of documentation promptly
• Conduct screenings on clients, beneficial owners, related parties, legal representatives, authorized signers/traders, and others as specified by the CLM procedures
• Manage the disposition of screening results; request further information and escalate as needed
• Perform adverse news screenings and manage the outcomes; seek additional information and escalate when necessary
• Carry out assigned tasks as part of the ongoing manual and/or system-based screening processes, including alert resolution in the relevant systems
• Resolve discrepancies between customer information and verification findings in collaboration with Compliance prior to finalizing onboarding/review
• Assess Customer Risk Rating (CRR) based on the global CRR methodology maintained by Compliance
• Implement manual overrides of calculated Customer Risk Ratings as authorized by Compliance
• Ensure the appropriate level of Due Diligence is applied during client onboarding and reviews
• Assist with account opening and closure processes
• Ensure that Client data elements and Due Diligence checks are accurately recorded in the appropriate CLM systems
• Process changes to client KYC data upon receipt and ensure proper documentation
• Collaborate with Client Owners and Compliance to clarify questions and resolve issues as they arise
• Escalate concerns to the Local Head of CVT and seek guidance as needed
• Review, investigate, communicate, and escalate issues identified during the KYC process as necessary
• Support initiatives related to changes in the regulatory environment, system enhancements, or updates
• Assist in remediation reviews
• Perform other responsibilities as assigned

Account Administration

• Ensure compliance with AML, Sanctions, KYC policies, procedures, and regulations
• Oversee timely creation and maintenance of static data (clients, counterparties, SSI's)
• Guarantee daily operations are executed in accordance with ComRules, established workflows, and guidelines
• Ensure that internal controls are effectively implemented within processes
• Collaborate closely with business units and Compliance to ensure complete documentation is obtained for the prompt creation of client accounts in the relevant systems
• Follow up on outstanding client-related documentation and provide regular status updates on discrepancies to management as necessary
• Maintain client account opening documentation files within relevant systems
• Conduct signature verification
• Propose recommendations for work processes and procedures to enhance efficiency and operational controls
• Assist with other duties or projects as directed by the Local Head of Department

Educational Background:

• A Bachelor's Degree/Post Graduate Diploma/Professional Degree in a Business-related field, Banking, Finance, or a similar discipline is required

Qualifications and Skills

• Preferably an Entry-Level candidate specialized in Client Onboarding (KYC) and/or Account Administration operations
• No prior work experience is required
• Fresh graduates are encouraged to apply
• Minimum CGPA of 3.0
• A strong team player with excellent interpersonal and communication skills
• Fluency in English, both verbal and written, is required
• Proficient in MS Office and related tools

Personal Attributes:

• Detail-oriented
• Team-oriented
• Possesses analytical skills
• Able to work in a fast-paced, deadline-oriented environment
• Interest in working within a developing organization
• Desire to create and refine processes
• Quick learner
• Willingness to learn on the job