Due Diligence Analyst

Due Diligence Analyst

Wells Fargo
3-6 years
Not Specified

Job Description


Job Description :
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 20 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Market Job Description
Department Overview

Wholesale Financial Crimes Operations (WFCO) caters to Onboarding of New to Bank Customers in Wholesale banking domain. Team also has Periodic Review, Data Quality Exceptions and Quality Check Capabilities in WFIP. Financial Crimes Onboarding Team Conducts Know your Customer (KYC) Compliance process for Wholesale Banking Line of business processes in line with the requirements of the USA Patriot Act as well as Wells Fargo corporate AML / BSA policy requirements. Is Responsible for assisting with the implementation and monitoring of a risk-based compliance program to assure compliance with federal, state, agency, legal and regulatory requirements. Reviews Customer Due Diligence information for accuracy and investigate discrepancies and Interacts with compliance representatives to assess potential unusual activity. Financial Crimes QC Team - Conducts QC reviews on Know Your Customer (KYC) Onboarding activity, Monitoring and Surveillance activity, and other financial crimes related activities and processes to ensure compliance with both the USA Patriot Act as well as Wells Fargo Corporate AML/BSA policy requirements. - Analyzes risks or errors and communicate negative findings to relevant Financial Crimes partner for rectification. Periodic Review Team Performs KYC Refresh Activity for Wholesale banking customers. Data Quality Exceptions Team Reviews and resolves Core data element exceptions to ensure Customer data is consistent with Wholesale and enterprise data standard.
About the Role

Due Diligence Analyst should participate and provide compliance support for projects and initiatives with low to high risk to identify assess and mitigate BSA/AML risk in business activities. Analyze risks on
escalated, referred, or alerted negative news. Communicate negative findings to lines of business and supply guidance on course of action. Identify and research the patterns, trends and anomalies in
transactional and customer data to detect, prevent, mitigate and report suspicious activity related to money laundering and terrorist financing. Review Customer Due Diligence information for accuracy and investigate discrepancies. Identify Higher Risk clients and obtain Enhanced Due Diligence where appropriate. Analyze potentially suspicious activity, which will require the review of historical activity along with customer information. Interact with compliance representatives to assess potential unusual activity. Maintain program and procedures, making updates as needed. Assist as needed with examinations and/or audits.
Responsibilities

• Conducting Know your Customer (KYC) Compliance process for Wholesale processes in line with the requirements of the USA Patriot Act as well as Wells Fargo corporate AML / BSA policy requirements.
• Responsible for picking up relevant samples for Data Quality exception to assure compliance with as prescribed in the QC framework requirements.
• Participates in and provides compliance support for projects and initiatives with low to high risk to identify, assess and mitigate BSA/AML risk in business activities.
• Analyze risks on escalated, referred, or alerted negative news. Communicate negative findings to lines of business and supply guidance on course of action.
• Identifying and researching the patterns, trends and anomalies in transactional and customer data to detect, prevent, mitigate and report suspicious activity related to money laundering
and terrorist financing.
• Maintain an Audit Trail of Due Diligence Performed
• Analyze potentially suspicious activity, which will require the review of historical activity along with customer information.
• Interact with compliance representatives to assess potential unusual activity.
• Maintain program and procedures, making updates as needed.
• Assist as needed with examinations and/or audits.
• Sound analytical, critical thinking and problem solving skills.
Market Skills and Certifications
Essential Qualifications
/Experience

• Graduation in any stream.
• 3+ years of experience in one or a combination of the following: financial services, criminal justice, fraud, Bank Secrecy Act, anti-money laundering, or investigations of financial crimes or policy violations; experience in the foregoing Operational Risk Management processes and / or Compliance or Audit Programs of a banking back office operations.
• Familiarity with and working knowledge of BSA/AML programs including all aspects of KYC and / or other related risk and regulatory disciplines.
• Proven ability to collaborate with all levels of management and functional groups.
Desired Skills

• Good Verbal and Written Communication Skill
• Ability To Interpret data
• Analytical skills
• Quick learner
• Domain knowledge within banking.
We Value Diversity
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.

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