Corporate Trainee Client Verification Team (KYC) - Penang

Job Summary

The selected candidate will be integral in upholding rigorous adherence to anti-money laundering protocols, sanctions policies, and all applicable regulations and internal standards.

Client Verification (KYC)

Execution of responsibilities specific to the role of Client Verification (KYC) Analyst as outlined in the global Client Lifecycle Management (CLM) procedure, Global Screening procedure, and the WLF Screening of clients procedure (along with relevant local amendments) under the supervision and direction of the CVT local Team Head – KL.

Account Administration

Handling the opening and maintenance of account documentation for Corporates and Financial Institutions, which includes reviewing and authenticating customer documentation for account creation. This role entails updating customer information, managing signing mandates, and ensuring the completeness of client files. The position is also responsible for ongoing evaluations of account opening processes and documentation updates, along with suggesting enhancements to procedures as necessary.

Additionally, the role involves updating and managing static data in the Bank's core system and verifying signatures.

Key Responsibilities

Client Verification

• Familiarize with the Global Client Lifecycle Management (CLM) procedure, Global Screening procedure, and WLF Screening of clients procedure (including local amendments)
• Understand the CTS structure, client segmentation/coverage, and the products/services available to clients across international Commerzbank locations
• Execute assigned duties related to on-boarding, routine and event-driven reviews, account openings, account closures, and off-boarding of Corporate Clients and NBFIs
• Evaluate and verify the quality of initial (potential) client information provided by Client Owner(s) / Business Unit(s)
• Validate the completeness and accuracy of essential KYC documentation and data submitted by Client Owner(s) / Business Unit(s)
• Verify the information and documentation provided by Client Owner(s) / Business Unit(s) including, but not limited to, client identity, Beneficial Ownership, and Bearer share information
• Monitor and follow up on documentation gaps and escalate issues of non-receipt of documentation promptly
• Conduct screenings on clients, beneficial owners, associated parties, legal representatives, and authorized signers/traders as specified by the CLM procedures
• Assess screening results; request additional information and escalate when necessary
• Perform adverse news screenings and assess results; request further information and escalate as needed
• Engage in assigned tasks as part of ongoing (manual and/or system-based) screening processes, including alert clearance in the relevant system
• Resolve discrepancies between customer-provided information and verification findings in collaboration with Compliance prior to finalizing on-boarding/review
• Determine Customer Risk Rating (CRR) following the global CRR methodology overseen by Compliance
• Implement manual overrides of calculated Customer Risk Ratings as authorized by Compliance
• Ensure the appropriate level of Due Diligence is applied during onboarding and reviews
• Assist with account opening and closure processes
• Ensure proper documentation of Client data elements and Due Diligence checks within relevant CLM systems
• Process changes to clients' KYC data upon receipt and ensure proper documentation of actions taken
• Coordinate with Client Owner(s) and Compliance to address queries and resolve issues as they arise
• Escalate concerns to the Local Head of CVT and seek guidance as needed
• Investigate, communicate, and escalate any issues identified during the KYC process
• Support initiatives related to changes in the regulatory landscape, system enhancements, or updates
• Assist with remediation reviews
• Other duties as assigned

Account Administration

• Ensure adherence to AML, Sanctions, KYC policies, procedures, and regulations
• Responsible for the timely creation and upkeep of static data (clients, counterparties, SSI's)
• Ensure daily processes are executed in line with ComRules, published workflows, and guidelines
• Maintain effective internal controls within executed processes
• Collaborate closely with the business and Compliance to ensure complete documentation is obtained for the timely creation of client accounts in the relevant systems
• Follow up on outstanding (client-related) documentation and regularly report discrepancies (when necessary) to Management
• Manage the maintenance of client account opening documentation files in the relevant systems
• Conduct signature verification
• Offer recommendations on work procedures to enhance operational efficiency and controls
• Assist with additional duties or projects as directed by the Local Head of Department

Educational Background:

• The ideal candidate should hold at least a Bachelor's Degree/Post Graduate Diploma/Professional Degree in a Business-related, Banking, Finance discipline, or a similar field

Required Skills and Qualifications

• Preferably at the Entry Level with specialization in Client On-boarding (KYC) and/or Account Administration operations
• No prior work experience necessary
• New graduates are encouraged to apply
• Minimum CGPA of 3.0
• A strong team player with excellent interpersonal and communication abilities
• Fluency in English, both verbal and written, is required
• Proficient in MS Office and related applications

Personal Attributes:

• Detail-oriented
• Team-oriented
• Strong analytical skills
• Able to thrive in a deadline-driven environment
• Interest in working within a new and evolving organization
• Willingness to develop and implement new processes
• Quick learner
• Motivated to learn on the job