Client Lifecycle Management - Senior Associate
London, LND, United Kingdom
Job Description
Role Title: Client Lifecycle Management, Senior Associate
About Westpac: We are Australia’s first bank and oldest company, and one of four major banking organisations in Australia. This opportunity sits in our London office working for Westpac Institutional Bank (WIB), the division of Westpac, which services the needs of our corporate, institutional, and governmental clients.
How will I help?
The Customer Lifecycle Management (CLM) Team has the task of on-boarding Westpac Institutional Bank customers and reviewing customer files periodically (including population management) against Westpac’s AML framework. They will conduct a thorough assessment of the related parties to comply with internal and external regulatory requirements. This role will support onboarding clients across London, Germany, and New York jurisdictions.
The CLM Associate / Senior Associate will be required to partner closely with various business stakeholders including Corporate and Institutional Banking (CIB), Financial Markets (FM), Treasury (TSY), Fund Onboarding, Product System Set up teams, Global Derivative Compliance, General Compliance, Financial Crime, and First Line Risk to facilitate the businesses’ On-boarding & ongoing KYC obligations.
With the continuing change in the regulatory landscape across the UK & US markets, high quality and consistency of the On-boarding and KYC processes needs to be observed.
The role is accountable for:
* Interacting with clients/WIB Relationship Managers to lead the On-boarding of customers to WIB
* Liaising with Compliance / Financial Crime Compliance (FCC) / Operations / Legal and other stakeholders to confirm documentation requirements and complete necessary regulatory submissions, tax and compliance information to ensure relevant on-boarding requirements are met
* Co-ordinating the establishment of new accounts or amendments to existing accounts
* Prioritizing and completing the periodic review of customers and preparing client-specific KYC-related analysis and completing Customer Due Diligence
* Engaging and working with Business Units to assess documentation requirements for customers as part of the ongoing KYC requirements, reviewing supporting documentation to ensure accuracy
* Liaising with internal Compliance & FCC personnel on the application of KYC policy
* Interacting with clients/WIB Relationship Managers to obtain KYC and other compliance information and documentation to complete the periodic review process
* Demonstrating the ability to adapt timely and adequately to the new Anti-Money Laundering (AML) policies, processes, procedures, and system knowledge
* Reviewing and evaluating adverse media related to clients and associated parties, assessing materiality of any adverse news identified and escalating where required
* Responsibility for the review and approval from WIB Relationship Managers of customer files
* Adhering to all designated time frames, managing workflow to the specified deadlines and raising formal extension requests where appropriate
* Where necessary, undertaking quality checks on existing & new clients on-boarded in London & New York
* Completing requirements of client population management and off-boarding activity
* Performing MIS reporting to management/internal stakeholders on KPI & KRI, including the update of internal reports to ensure up-to-date MIS is available at all times
What’s in it for me?
You’ll be joining a highly supportive and collaborative team with international coverage during a period of exciting growth within the international business.
You will have access to a comprehensive range of Westpac benefits including flexibility and various leave entitlements.
What do I need?
* Minimum 5 years of experience in the On-boarding, KYC/AML space in the Banking industry
* On-boarding, KYC / Periodic Review / Quality Control experience in on-boarding various structure complexity for Banks, NBFI, Funds, Corporates, Supranationals, SPVs, Investment Managers, and Trusts
* Working knowledge of corporate and institutional banking products including but not limited to bilateral, deals and syndicated facilities, financial markets inc. debt trade.
* Control focused mindset and good understanding of regulatory and reputation risks
* Strong knowledge of local AML requirements
* Ability to work under pressure in a team environment
* Self-motivated, able to take ownership and accountability of tasks performed and ability to work independently, escalating where necessary
* Academic qualification, preferably in a Business-related discipline (Economics, Accounting, Finance) is highly regarded
* Derivative Reform Classification knowledge is highly regarded
What’s it like to work there?
When you join, you’ll become part of the broader Westpac Group family – where we aim to be a friendly, switched-on team working for a single purpose - Creating Better Futures Together – it’s what we do, who we are and why we come to work every day. As an equal opportunity employer, we’re proud to have created a culture where people can be their best, in an environment that values diversity and flexibility.
Within the Westpac Group, you will be part of the Institutional Banking division, where our vision is to be a high performing and innovative institutional bank, committed to enabling the growth of our global clients, our economy, and delivering sustainable shareholder returns.
How do I Apply?
Start Here. Just click on the APPLY button.
As part of our commitment to creating a diverse and inclusive workplace, this role is open to experienced candidates seeking a discussion around workplace flexibility. We invite candidates of all ages, people with a disability, and Indigenous Australians to apply.
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