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KYC Analyst

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Citi

17d ago

  • Job
    Full-time
    Senior Level
  • Banking & Finance
  • Pune

AI generated summary

  • You should have 5-8 years of relevant experience, preferably CAMS certified, a bachelor's degree, and be willing to work US night shifts.
  • You will validate KYC records, ensure compliance with regulations, conduct due diligence reviews, monitor customer information, and address discrepancies while maintaining quality standards.

Requirements

  • Need candidate to hold previous relevant experience of minimum 5 to 8 years
  • CAMS preferred
  • Candidate should be willing to work in US shift/night shifts
  • Bachelor's degree

Responsibilities

  • Partner with Relationship Management and Compliance teams to assist with the preparation, development, due diligence and approval of the electronic Know Your Client (KYC) record and supporting appendices
  • Validate the information within KYC records and Customer Identification Program (CIP) documents to ensure completion and accuracy
  • Ensure KYC records incorporate local regulatory requirements / Global Business Support Unit (BSU) Standards
  • Assist Citi on KYC efforts in accordance to the NAM Retail AML KYC Ops (NTB) procedures
  • Perform KYC reviews (Scheduled & Unscheduled Reviews for Individual Client types across varied risk classes) including monitoring and tracking of KYC records, assisting with the development and execution of action plan for expiring records, and ensuring records are not past due
  • Determining if the accounts are in scope
  • Client Identification, Verification and Screening
  • Information such as customer’s address, employment (including employer), connectivity to PEP/SPF (Sanctions Screening), will be validated and confirmed. 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 and social media checks
  • Partner with internal units to ensure adequate due diligence process is carried out for customer accounts and documentation reviews
  • Ensure all information and documentation comply with local regulation and Citi standards
  • Send the requests to Outreach/RM for accounts where information is required to complete the review
  • Any suspicious product usage from AML perspective gets highlighted to senior management for further reviews promptly
  • Ensure to maintain quality standards (90% and above) for the KYC reviews undertaken
  • Ensure any tech issue/procedural clarifications gets highlighted to managers for further review and guidance
  • Ensure to get Quality Control (QC) review done on files prior to submission and respond/correct any discrepancies identified during QC reviews
  • Submit record for Business Approval once review is complete and respond/correct any discrepancies identified during BA reviews
  • Willing to work in night shifts

FAQs

What is the main responsibility of a KYC Operations Analyst at Citi?

The main responsibility is to participate in Anti-Money Laundering (AML) monitoring, governance, oversight, and regulatory reporting activities, while assisting in the development and management of a dedicated internal KYC program.

What qualifications are preferred for this position?

Candidates with a minimum of 5 to 8 years of relevant experience and a CAMS certification are preferred.

Is a specific degree required for the KYC Analyst position?

Yes, a Bachelor's degree is required.

What shift hours will the KYC Analyst need to work?

Candidates must be willing to work in U.S. shift/night shifts.

What types of reviews will the KYC Analyst perform?

The KYC Analyst will perform KYC reviews, including both scheduled and unscheduled reviews for individual client types across varied risk classes.

How will the KYC Analyst ensure compliance with regulations?

The KYC Analyst will ensure that all information and documentation comply with local regulations and Citi standards, and will validate KYC records and Customer Identification Program documents for accuracy.

What kind of collaboration will the KYC Analyst be involved in?

The KYC Analyst will partner with Relationship Management and Compliance teams, as well as internal units, to ensure adequate due diligence processes are carried out for customer accounts.

What is the expected quality standard for KYC reviews undertaken?

The expected quality standard for KYC reviews is 90% and above.

How are suspicious activities managed?

Any suspicious product usage from an AML perspective will be highlighted to senior management for further review promptly.

What is the process for handling tech issues or procedural clarifications?

The KYC Analyst will highlight any tech issues or procedural clarifications to managers for further review and guidance.

Are there opportunities for professional development or further training?

While not explicitly stated, positions like this typically offer opportunities for professional development and training, particularly in compliance and regulatory areas.

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Citi

Finance
Industry
10,001+
Employees
1998
Founded Year

Mission & Purpose

Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation headquartered in New York City. Citi's operation is to provide financial services that enable growth and economic progress. Core activities are safeguarding assets, lending money, making payments and accessing the capital markets.

Benefits

  • Live Well, Stay Healthy

    Citi provides programs and services for your physical and mental well-being including access to telehealth options, health advocates, confidential counseling and more. Coverage varies by country.

  • Paid parental leave

    We believe all parents deserve time to adjust to parenthood and bond with the newest members of their families. That’s why in early 2020 we began rolling out our expanded Paid Parental Leave Policy to include Citi employees around the world.

  • Save well, for now and your future

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  • Keep learning

    Citi provides access to an array of learning and development resources to help broaden and deepen your skills and knowledge as your career progresses.

  • Be well, take time off

    We have a variety of programs that help employees balance their work and life, including generous paid time off packages.

  • Support Your Community

    We offer our employees resources and tools to volunteer in the communities in which they live and work. In 2019, Citi employee volunteers contributed more than 1 million volunteer hours around the world.