Job Summary: The KYC Analyst will join the Business Support Unit, an AML/KYC support/control function within the Institutional Clients Group responsible for the preparation, development, due diligence and approval of the electronic KYC Record and supporting appendices in partnership with Relationship Management and Compliance teams. Every new and existing client of Citi’s Institutional Clients Group is required to have a KYC Record before an account can be opened. The KYC Record outlines important information about the customer. There is a requirement to conduct research for company information from both internal and external sources, documenting specifics required to satisfy regulations. There are differing requirements depending on where the account is being opened. There is a constant need for KYC Record review as there are periodic renewals of the required due diligence carried out based on the risk of the client. The BSU owns the end to end KYC process from creation/renewal to approval of the KYC Record and supporting local country appendices.
Key Duties and Responsibilities:
The KYC Analyst will also create the KYC Record in the KYC system sourcing information from internal and external sources by the agreed deadline
Proactively interact with relationship management teams and compliance to update system with information until final approval of KYC Record
Keenly review information from internal and external sources for company news (Firm website, Regulatory websites, Company website, Dun and Bradstreet, Google etc.)
The incumbent will validate the information within the KYC Record and CIP document to ensure completeness and accurate (Company/Entity Formation documents, Ownership, Management, etc.)
Complete KYC Record incorporating local regulatory requirements / Global BSU Standards and policies
Take responsibility for KYC Record and associated documentation completion from initiation to approval
Maintain BSU tool current and be able to demonstrate work carried out
Report workflow progress to supervisor
Meet agreed daily targets for KYC Record review and completion within agreed Service Level Agreement timeframes
Update workflow database regularly throughout the day
Highlight any discrepancies to Senior Case Managers, Control Team and Section Managers
Escalate any negative news and high risk cases to RM/PAM/AML Compliance department
Assist in departmental projects as required
Responsible for the due diligence and record creation in the system ensuring highest level of KYC Record quality
Act as the country coordinator (or participate actively when the SCM is the country coordinator – a) coordinate periodic country calls; b) liaise with compliance; c) be the primary contact for country management for KYC related matters
Address feedback from SCM to ensure continuous performance improvement
Ensure initiation email is sent and followed up on as per the prescribed guidelines
Proactively interact via phone/email/IM with relationship management teams and compliance to update system with information
Build strong working relationships with the RM to support business
Research and collate additional relevant information from internal and external sources to complete KYC Records
Validate the information within the KYC Record to ensure completeness and accuracy (Company/Entity Formation, Ownership, Management, etc.)
Perform name screening of entity, directors, beneficial owners, etc. and its disambiguation, as appropriate to client type
Complete KYC Record Appendix as per local regulatory requirements
Meet agreed daily targets for KYC Record completion, quality, productivity and customer service
Highlight any discrepancies to Senior Case Managers and work with the RM,, Compliance, and BSG, EDD and FIU (as applicable) to resolve
Escalate any negative news and high risk cases to RM/AML Compliance/EDD (as applicable)
Conduct, validate and rule out NESS searches or escalate to compliance
Follow expediter process flow and escalate to SCMs, wherever applicable
Monitor their pipeline of work daily (e.g. coming due) and ensure actioned as per agreed timelines
Communication / Reporting:
Regularly keep SCMs informed of all significant updates through morning huddles, email etc.
Update BSU/FCB database daily and report progress to supervisor
Accurate time tracking
Qualifications, Skills and Experience:
The Citi Bank KYC Analyst must hold a University degree in Law, Business/Finance, Math, Economics.
1 – 3 years’ experience in banking, finance or law
Experience in control/risk or Compliance (AML/KYC) function (an advantage)
Knowledge and experience of the technologies and processes used in Citi
Knowledge of local regulatory KYC/AML requirements
Proficient use of Microsoft Applications ( Word, Excel, Access)
Languages: Proficient use of KYC applications ( an advantage)
Customer Services orientated.
Excellent oral and written communication skills. Arabic Language Preferred
Ability to develop strong professional relationships
Strong research skills
Accuracy and strong attention to detail
Ability to multitask and prioritize
Ability to work well under pressure and tight time frames
Strong computer skills
MIS and metrics and efficiency analysis skills
Good organizational skills
Pro-active, flexible, have good organizational skills and must be team player.
Ability to work in a dynamic environment.
Arabic language skills are an advantage for this role
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Citi is a global bank whose mission is simple: "We responsibly provide financial services that enable growth and economic progress." Citi works tirelessly to provide consumers, corporations, governments and institutions with a broad range of financial services and products. We strive to create the best outcomes for our clients and customers with financial ingenuity that leads to solutions that are simple, creative and responsible