KYC Analyst

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

Reporting to the KYC Associate or KYC VP, the KYC Analyst performs specialized tasks, routine operational day-to-day actions, and/or assists the KYC VP in directing day-to-day work of employees. Reviews 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 KYC and SMBC standards and policies. Additionally, may manage staff training, employee relations, workforce planning, and mentorship. Works closely with KYC VP to recommend improvements to policies and procedures. Depending on experience, may act as an SME for department and across function.

The anticipated salary range for this role is between $61,000 and $90,000. 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.

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 KYC team are governed by SMBC's Policies and Procedures. The KYC Analyst assists the KYC 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 KYC 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.
• Provides quality assurance for updates made to existing customer records including appropriate documentation review. Also performs quality assurance 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 KYC VP, ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
  

• 3 to 5 years of specialized experience in Financial Services
  
• Back office operations. Management experience preferred.
  
• BA / BS (or equivalent experience)
  
• CAMS preferred
  
• Very strong technical knowledge of AML, Bank Secrecy Act, Foreign Asset Control.
  
• Very strong level knowledge of KYC (Know Your Customer) process and regulations.
  
• Strong knowledge of banking policies, statutory and compliance regulations.
  
• Strong knowledge of market practices related to compliance operations.
  
• Good judgement, sense of urgency and accountability; time- management skills.
  
• Ability to supervise and train others.
  
• Ability to execute in a high pressure environment.
  Good interpersonal skills.
  
• Strong written and verbal communication skills