Due Diligence Specialist

Due Diligence Specialist

Wells Fargo
1-4 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
Due Diligence team owns the client onboarding process, on-going periodic client reviews, quality control activities. WFIP due diligence teams engage with the US due diligence teams / respective CB/CIB lines of business (relationship managers) to mitigate risk while providing a positive client experience/outcome. Responsibilities
may include: conducting comprehensive research and/or background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate associated sanctions, financial crime, and reputational risks. WFIP Due Diligence team engages with clients indirectly through relationship managers to support meeting policy / regulatory requirements in a manner consistent with Wells Fargo s values and focus on client satisfaction.
Market Skills and Certifications
About the Role
Due Diligence Specialist 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.
    Essential Qualifications
  • 1+ years of experience in financial services, criminal justice, fraud, Bank Secrecy Act, AML, 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.
  • Knowledge and a broad background in Wholesale Banking.
  • Experience in Operational risk management processes and/or compliance and / or audit and / or regulatory programs with KYC Duties.
  • On-boarding KYC customer processing or Financial Crimes Investigations experience strongly preferred.
  • Thorough understanding of CIP/CDD/EDD requirements .
  • WF AML/Sanctions Credential, ACAMS, CFE or CRCM designation.
  • Proficiency in Office Suite (Excel, Word, PowerPoint, Outlook) and SharePoint.
  • Bachelor’s degree in business, finance or economics
    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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