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Due Diligence Associate

  • Job
    Full-time
    Mid Level
  • Government & Politics
    Banking & Finance
  • Chennai
  • 1d left

AI generated summary

  • You need 4+ years in Due Diligence or equivalent, plus experience in KYC Due Diligence (EMEA, APAC, NAM) through work, training, military, or education.
  • You will engage with clients, manage KYC processes, conduct research, maintain customer profiles, collaborate on issues, and stay updated on regulations to mitigate risks and ensure compliance.

Requirements

  • 4+ years of Due Diligence experience, or equivalent (including risk management, client service, operations support, or business process management) demonstrated through one or a combination of the following: work experience, training, military experience, education
  • Experience in KYC Due Diligence (EMEA, APAC or NAM), or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Responsibilities

  • Engage with clients directly or indirectly through relationship managers to support meeting policies or regulatory requirements and focus on client satisfaction
  • Proficient in due diligence databases, KYC software and other investigative tools.
  • End to End KYC experience, knowledge of RFI's/outreach process for gathering requiring client data by profiling their documents.
  • Maintain and update customer profiles in compliance with internal policies and global regulatory requirements.
  • Collaborate with other departments to resolve KYC related issues and provide guidance on regulatory requirements.
  • Stay current with changes in KYC regulations and industry best practices.
  • Engage with clients directly or indirectly through relationship managers to support meeting policies or regulatory requirements and focus on client satisfaction
  • Conduct comprehensive research and background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate risks through documenting findings
  • Review basic issues, policies or procedures for which answers can be quickly obtained related to lower risk tasks and deliverables with narrower impact
  • Run periodic due diligence reporting supporting processes reflective of the current business environment
  • Gather and input data utilizing resources to identify documentation required to meet policy or regulatory requirements
  • Receive direction from supervisor and exercise judgment while developing understanding of function, policies, procedures, and compliance requirements
  • Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals

FAQs

What is the primary responsibility of a Due Diligence Associate at Wells Fargo?

The primary responsibility is to engage with clients and support compliance with policies and regulatory requirements while focusing on client satisfaction, conducting comprehensive research and background investigations, and ensuring proper documentation for KYC processes.

What qualifications are required for this position?

The position requires 4+ years of Due Diligence experience or equivalent experience in risk management, client service, or business process management.

Is experience in KYC Due Diligence preferred for this role?

Yes, experience in KYC Due Diligence, particularly within EMEA, APAC, or NAM regions, is desired for this position.

Will I be required to engage directly with clients?

Yes, you will engage with clients directly or indirectly through relationship managers to focus on meeting policies and regulatory requirements.

What tools or databases should I be familiar with for this role?

Proficiency in due diligence databases, KYC software, and other investigative tools is essential for this role.

How important is it to stay updated with KYC regulations?

Staying current with changes in KYC regulations and industry best practices is crucial to effectively manage compliance and mitigate risks.

What type of research will I conduct in this role?

You will conduct comprehensive research and background investigations on transactions, individuals, entities, organizations, or locations to identify and mitigate risks.

Are there opportunities for collaboration with other departments?

Yes, the role involves collaborating with other departments to resolve KYC-related issues and provide guidance on compliance requirements.

Will there be periodic reporting responsibilities?

Yes, you will run periodic due diligence reporting that reflects the current business environment.

Are applications encouraged from diverse candidates?

Yes, Wells Fargo values diversity and encourages applications from all qualified candidates regardless of various protected characteristics.

Finance
Industry
10,001+
Employees
1929
Founded Year

Mission & Purpose

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with approximately $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in over 40 countries and territories to support customers who conduct business in the global economy. With approximately 250,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.