Job
Description
Department Overview Wholesale Financial Crimes Control Operations caters to Onboarding of New to Bank Customers in Wholesale banking domain. Team also has Periodic Review, Data Quality Exceptions and Quality Check Capabilities in Wells Fargo India Financial Crimes Control operations. About the Role Wells Fargo is seeking a Due Diligence Coordinator... In this role, you will: Investigate and assess alerts generated by AML systems for appropriate clearance or for further escalation, ensuring compliance with applicable internal policies and procedures and external regulations; Review and analyze transactional activity for suspicious/unusual patterns of activity utilizing various internal systems, reports and external data sources; Conclude whether further investigation is warranted based on a reasonable assessment of information obtained; Review, collect and transmit supporting details to the next level of Operations upon conclusion of review; Adhere strictly to compliance and operational risk controls in accordance with Company and regulatory standards, policies and practices; report control weaknesses, compliance breaches and operational loss events; Provide a supporting role to on-shore business partners. Assist in reviewing alerts and provide support on all AML and KYC monitoring functions performed by Global CDD; Maintain program and procedures, making updates as needed. Assist as needed with examinations and/or audits. Sound analytical, critical thinking and problem-solving skills Experience with decision making and report writing Required Qualifications: 0-2 years of Due Diligence experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education Desired Qualifications: Good Verbal And Written Communication Skill Ability To Interpret data Analytical skills Quick learner Domain knowledge within banking Job Expectations: Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate degree of complexity and risk to determine appropriateness for Wells Fargo. Conducts comprehensive research and/or background investigations on individuals, entities, organizations, or locations to identify and mitigate associated sanctions, credit, financial crime, and reputational risks and thoroughly documenting findings. Reviews and analyzes due diligence data from a variety of sources to determine overall risk. Screens customers, prospects and/or transactions against various regulatory reporting lists and regionally based sanctions watch lists. Evaluates risks to determine permissibility under sanctions, regulations and/or BSA/AML regulations. Works with high-risk customers (e.g. casinos, MSBs, payment processors) to understand controls and activities. Provides appropriate direction to the line of business. Escalates confirmed sanctions alerts, PEP matches and other risks appropriately. Performs non-documentary Customer Identification Program on domestic customers in accordance with regulations and bank policy. Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act and various sanctions regulations, and in accordance with policy/procedures set by the bank. Prepares and submits regulatory reporting and requests. Consults with peers, line of business managers and other external parties regarding due diligence findings. Participates in moderate to complex project initiatives as the primary subject matter expert. Develops/delivers procedures or training; or mentors Associates with less experience. Effectively manages work requests to meet performance expectations
