Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000 people across 30 countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose – the relentless pursuit of a world that works better for people – we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.
Inviting applications for the role of Senior Associate/Business Analyst/Assistant Manager - Maker- AML/KYC/Remediation
In this role, AML KYC Analyst is responsible for participating in Anti-Money Laundering (AML) monitoring, governance, oversight, and regulatory reporting activities in coordination with and under the supervision of Compliance and Control team. The overall objective of this role is to conduct reviews and assessments for dedicated internal KYC (Know Your Client) program in accordance with standard policies and procedures and using data sources made available.
Responsibilities
1) Assess the work item trigger or reason for the review; gathering all information to determine the
required next steps on the work item to thoroughly complete a KYC review
2) Review policy and procedures with each work item
3) Client Identification, Verification and Screening a. Validate if Client Identification section is successful including verification. b. Complete the screening section. c. Conduct Quality Control (QC) review on all files prior to submission and respond/correct any discrepancies d. Submit Record for Business Approval once review is complete i. If an issue/error is discovered during the Business Approval process, it will be returned to the Maker for resolution ii. If an issue/error is not resolved by referring to standard policies and procedures, refer to the Checker (see below) e. If record is identified during Post Execution Quality Review (PEQR) review (post submission/approval) respond/correct any issues f. Initiate trouble tickets for technology issues identified during processing work item
4) Outreach Requirement: Maker will forward any client outreach requirements to a outreach analyst, and once the information has been received and forwarded to the Maker, the Maker will complete the work item following standard procedures.
5) Information such as customers transactions, source of wealth and source of wealth corroboration, employment (including employer), connectivity to PEP/SPF (Sanctions Screening), could be required. These will be validated based on existing information available or through approved third-party sites. Based on the results, enhanced due diligence checks will be performed which include negative news checks.
6) Conduct reviews of Retail Banking and Cards client account activity, statements, internet research, and client profile information
7) Complete Enhanced Due Diligence (EDD) to obtain and understand client demographic information and to collect information as required for to assess risk
8) Understanding of Governmental and Judicial Senior Public Figures (SPF) for to assess client risk and refer appropriately, following Guidelines
9) Conduct Data Remediation which varies substantially with each assigned project
10) Conduct background checks, gather intelligence, perform customer research and transactional analysis
11) Conduct regulatory and sanction screenings as well as review domestic consumer cases and support complex Periodic Review and Client Refresh processes
12) Provide clear direction on what is needed from the customer to complete a review; forward to the appropriate team to contact customer or initiate Relationship Manager (RM) outreach to obtain client information.
13) Utilize internal and external tools and/or partner with other departments to obtain the required information and to minimize customer outreach and customer friction/impact
14) Escalate unusual activity to Financial Intelligence Unit (FIU) and assist with escalating potential risks
15) Present summarized findings to Compliance and Control team, including recommendations to changes in procedures resulting from review findings and quality assurance review of analyst case work Appropriately assess risk in defined workflows and documentation when business decisions are made, demonstrating consideration for the firm's reputation and safeguarding group, its clients, and assets, and compliance with applicable laws, rules, and regulations
16) Apply sound ethical judgement regarding personal behaviour, conduct and business practices
17) Manage and report control issues with transparency and escalate when necessary
18) Operate in a goal-oriented environment, achieving individual and team performance targets and core competencies
19) Strong organizational, analytical and prioritization skills
20) Conduct Transaction Monitoring to review account details. Assess transaction behavior to ensure alignment with client’s KYC Profile. Ability to assess acceptable vs risk activities.
21) Work and maintain pipeline of work and monitor it at various stages of the KYC Record Lifecycle by utilizing reporting and a workflow tool
22) Comprehend challenging procedures to include compensating controls
23) Conduct a review and document Source of Wealth Corroboration; includes knowledge of Source of Wealth (SOW) requirements unique to the client
24) Ability to utilize multiple internal systems, external vendor tools and internet resources to update and verify KYC Profile as required; to minimize the need for customer outreach
25) Strong understanding of client’s uses of financial products and understanding
various levels of affluence and net worth
26) Screening review to determine if a true/false match in spite of limited identifiers and Screening dispositioning; Make recommendation to for to decide to maintain or exit client relationships
Qualifications we seek in you
Minimum Qualifications / Skills
1) Relevant experience or College degree/University degree
2) Previous experience in Financial Crimes and/or AML Investigations, or Operational Risk
experience 3) Experience with Retail Bank Portfolios
4) Experience completing Screening or Sanctions Reviews
5) Minimum 18 years of age
6) Possess excellent PC and keyboarding skills
7) Ability to spell, read, write, and comprehend English
8) Proficiency with Microsoft Office Products, including Outlook, Word, and Excel
9) Ability to navigate and understand Excel spreadsheets including the use of pivot tables
and slicers to prioritize and track work assignments
10) Willingness to rotate shifts, as needed
11) Must possess procedure driven judgement in order to determine the best solution to an
issue
12) Ability to apply concepts and organize work to ensure compliance timelines are met.
Preferred Qualifications/ Skills
1) Demonstrated analytical skills
2) Strong communication skills
3) Excellent attention to detail
4) Strong intellect and curiosity; investigative skill set
5) Apply a strong understanding of the US Financial System including client spending
patterns, behaviors, and Sources of Wealth
6) Assess data elements to evaluate and complete a KYC Record review for a client
7) Ability to learn quickly and understand nuances
8) Proven record of accomplishment of quickly learning complex work requirements for
multiple short-term assignments
9) Open to work in an environment with constant changes/ad-hoc requests
10) Flexibility and adaptability
D. Education
1) College degree/University degree or relevant KYC experience
Genpact is an Equal Opportunity Employer and considers applicants for all positions without regard to race, color, religion or belief, sex, age, national origin, citizenship status, marital status, military/veteran status, genetic information, sexual orientation, gender identity, physical or mental disability or any other characteristic protected by applicable laws. Genpact is committed to creating a dynamic work environment that values diversity and inclusion, respect and integrity, customer focus, and innovation. Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook.
Furthermore, please do note that Genpact does not charge fees to process job applications and applicants are not required to pay to participate in our hiring process in any other way. Examples of such scams include purchasing a 'starter kit,' paying to apply, or purchasing equipment or training.