KYC Quality Control Associate

The anticipated salary range for this role is between $75,000.00 and $120,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

Within the Compliance Operations Department, the Account Control Group (ACG) QC is responsible for performing processes related to Know Your Customer (KYC / CIP), assessing the quality of KYC folders, assisting with specialized projects, and supporting the ACG VP with day-to-day operational processes and reporting within ACG. May act in capacity of team leader or individual contributor.

Scope

Reporting to the ACG Associate or ACG VP, the ACG QC performs specialized tasks, routine operational day-to-day actions such as quality checking KYC profiles, and / or assists the ACG VP in directing day-to-day work of employees. Reviews the work of administrators and representatives, resolves some complex matters; escalates as appropriate. May have a formal or informal management role by supervising and / or training others. May direct and manage staff and workflows in accordance with ACG and SMBC standards and policies. Additionally, may manage staff training, employee relations, workforce planning, and mentorship. Works closely with ACG VP to recommend improvements to policies and procedures. Depending on experience, may act as an SME for department and across function.

Number of direct reports : up to 5

Role Objectives

Primary Responsibilities :

• Ensures operational efficiencies and customer data integrity in accordance with internal policies and procedures of SMBC and Head Office and compliance with AML / BSA / OFAC regulations.
• Performs new customer on boarding, account opening, account updates and static data maintenance. Provides quality control of KYC (Know Your Customer) and CIP customer information and assures verification in accordance with AML policy and procedure. Ensures adherence to the SMBC KYC Program; supports industry-mandated changes or system changes by participating in the change process; recommends changes through compliance with bank policies. Activities of the ACG team are governed by SMBC’s Policies and Procedures. The ACG QC assists the ACG VP as assigned to ensure that the following are adhered to by all employees within the department : ensures that CIP information and mandatory DD / EDD information is collected prior to account opening; collects from the RM and reviewing, for adequacy and accuracy, all required KYC information and documentation within prescribed time frame. confirms that verification documents are obtained by the RM and work performed by the ACG Analyst are completed within a prescribed time frame; conducts background checks (i.e., OFAC, politically exposed persons, 311 and adverse information checks), maintains evidence of search results in the KYC system and escalating to the BSA Officer any confirmed or suspected name matches associated with material negative information.
• Troubleshoots routine and some complex issues with KYC / CIP system and various subsystems to resolution.
• Provides quality check for updates made to existing customer records including appropriate documentation review. Also performs quality check reviews on alerts or cases and tracks deficiencies in order to enhance procedural standards and takes initiatives to suggest, plan and implement changes.
• Working with the ACG VP, ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.

Qualifications and Skills