Commercial Bank - KYC Solutions - KYC Operations Associate
Commercial Banking serves more than 30,000 clients, including corporations, municipalities, financial institutions, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion.
The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.
KYC Solutions is a firm-wide utility supporting all Lines of Business in the completion of requirements to satisfy the firm’s Know Your Customer (KYC) standards.
We partner with Global Financial Crimes Compliance, all JPMorgan Lines of Business and their KYC Officers and Client Owners and other utilities such as Client List Screening and Client Reference Data Operations to support and maintain the integrity of our Client KYC information.
The KYC Solutions team is seeking a KYC Operations Associate. The role is responsible for ascertaining that all KYC and AML policies are adhered to.
The KYC Operations Associate will possess strong analytical skills, the ability to work independently within a deadline, take initiative and adapt to change.
In addition, successful candidates are quick learners that will be able to readily understand banking and AML concepts and issues, exercise sound judgment and observe the highest degree of confidentiality in the handling information received in connection with their responsibilities.
Job Summary :
The primary responsibility in this role is to manage a team of KYC Operations Analysts and Reviewers to ensure all client KYC records are compliant with regulatory standards, and to drive high quality and timely completion of all client-level due diligence requirements at the onset and renewal of client relationships.
The KYC Operations Associate will be responsible for a team and performance management, producing a critical, detailed, in-depth investigative review of historical transaction activity and / or negative media reviews on clients in line with firm policy and regulatory expectations.
Based on the summary of their investigation, findings, conclusions and recommendations documented in the report, the LOB Relationship Managers and KYC Officers will perform additional follow up and due diligence with the customer.
Enhanced Due Diligence is required to be performed under the firm’s KYC periodic review standards for specific client types.
The objective of the review is to determine (a) if actual activity is consistent with the due diligence information collected, including the client’s stated expected activity, (b) to identify high risk patterns of activity, (c) to highlight potential areas of concern based on negative media findings or risk that require follow up or resolution by KYC team, Relationship Management or Compliance, and (d) to validate the accuracy of the KYC risk rating.
The KYC Operations Associate will assist the client-facing teams to ensure all client KYC records are compliant with regulatory standards, and will ensure high quality and timely completion of all client-level due diligence.
The role will assist in end to end operational activities through the periodic renewal process of all clients. The KYC Operations Associate will review the collection and verification of data performed to ensure all KYC records are accurate and complete prior to a final review by the client-facing team.
The KYC Operations Associate is expected to stay current with all regulatory changes and requirements around client KYC, Suitability and Documentation.
About J.P. Morgan Chase & Co :
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries.
J.P. Morgan is part of JPMorgan Chase & Co. (NYSE : JPM), a leading global financial services firm with assets of $2.1 trillion.
The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of clients and consumers under its JPMorgan and Chase, and WaMu brands.
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package. J.P. Morgan is an Equal Opportunity Employer