Due Diligence Coordinator

About this role:

Wells Fargo is seeking a Due Diligence Coordinator.

FCO performs screening and alert dispositioning for over match score of 84% & above of Wells Fargos customer relationships, as well all international and domestic wire transfers, global remittances, ACH, credit card/prepaid cards, trade finance, official checks and other payment products. The Consultant will perform screening to detect politically exposed persons (PEPs) & MRB holding accounts directly or indirectly through beneficial ownership. The role also entails Negative News screening for certain account/customer records.

In this role, you will:

• Support Due Diligence group
• Seek ways to improve client onboarding process, on-going periodic client reviews and quality control activities
• Conduct complex comprehensive research or background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate associated sanctions, financial crime, and reputational risks
• Receive direction from supervisor and escalate non-routine questions
• Interact with immediate team and Due Diligence area on wide range of information
• Engage with clients indirectly through relationship managers to support meeting policy and regulatory requirements

Required Qualifications:

• 2+ years of Due Diligence experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

• Minimum 2 years' Experience in Financial Crimes, Operational Risk, Fraud, Sanctions, Anti-Bribery, Corruption, or equivalent experience.
• Screens customers, prospects and/or transactions against various regulatory reporting lists and regionally based sanctions watch lists.
• Evaluates risks to determine permissibility under sanctions, regulations and/or BSA/AML regulations. Reviews transactions / profiles of high risk customers (e.g. casinos, MSBs, payment processors) to understand controls and activities.
• Escalates confirmed PEP matches. MRB, Negative News and other risks appropriately.

Job Expectations:

• Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate degree of complexity and risk to determine appropriateness for Wells Fargo.
• Conducts comprehensive research and/or background investigations on individuals, entities, organizations or locations to identify and mitigate associated sanctions, credit, financial crime, and reputational risks and thoroughly documenting findings.
• Reviews & analyzes due diligence data from a variety of sources to determine overall risk.
• Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act and various sanctions regulations, and in accordance with policy/procedures set by the bank.
• Consults with peers, line of business managers & other external parties regarding due diligence findings.
• Shift time: Flexible

Role: Banking Operations - Other

Industry Type: IT Services & Consulting

Department: BFSI, Investments & Trading

Employment Type: Full Time, Permanent

Role Category: Banking Operations

Education

UG: Any Graduate

PG: Any Postgraduate