Job Description

Main Responsibilities

Review the Bank's AML due diligence and Customer Risk Assessments for new account openings. Ensure the business team completes Enhanced Due Diligence (EDD) for all higher-risk customers, including documenting Source of Funds (SoF) and Source of Wealth (SoW). Account openings must not proceed without appropriate senior management approval for PEPs and other designated higher-risk indicators. Ensure all customers are screened for sanctions and negative media at on boarding, during KYC reviews, and upon trigger events. Escalate any potential sanction matches or adverse media. Review customer account updates completed by the frontline team. Ensure KYC records are up to date and that transaction monitoring is effective. Investigate and escalate any anomalies in accordance with the Bank's AML and CFT procedures. Ensure that all Bank departments comply with regulatory and policy requirements through periodic controls testing. Assist in reviewing payments referred to Compliance. This includes verifying transactions against Bank policies and procedures, validating sources of funds and beneficiaries to ensure compliance with sanctions, embargoes, and Bank-imposed restrictions. Ensure timely review of customer accounts that are due based on their AML risk profile. Analyse account activity for transactions outside the expected profile. Assist with investigations into Suspicious Activity Reports (SARs) submitted by staff and prepare disclosure reports to the NCA, as required. Help manage payment screening queues and conduct weekly scans of the customer database to ensure compliance with OFAC, UN, EU, and UK sanctions and embargoes. Oversee KYC updates during trigger events, such as before a dormant account is reactivated or closed. Keep senior management informed of developments in relevant laws, regulations, and guidelines that impact the Bank's AML risk and control framework. Assist in maintaining and reviewing the Bank's internal compliance procedures manual--especially those related to AML and CFT--as well as related staff guidance. Identify and perform EDD on higher-risk customers, including PEPs and those linked to high-risk business sectors or countries flagged by the Bank. Ensure all customer AML risk scores accurately reflect the Bank's exposure to money laundering. Participate in ad-hoc projects as required.
You must be familiar with the banking needs of high-net-worth (HNW) individuals and their businesses, predominantly based in the Middle East. Your responsibilities will include verifying customer accounts, payment instructions, and periodic KYC updates requested by the Bank, including Source of Funds and Source of Wealth.

The KYC Officer sits in the second line of defence (2LoD) and supports the business with on boarding new customers and maintaining relationships in accordance with the Bank's policies and procedures. The role ensures compliance with UK Money Laundering Regulations to prevent financial crime.

You will also assist in data validation on the Bank's core banking systems and contribute to project work, as needed.

Additional Key Responsibilities

Perform Customer Due Diligence (CDD) or Enhanced Due Diligence (EDD) for new customers. This includes verifying identification and KYC information and completing money laundering risk assessments. A strong understanding of the Bank's products, services, client base, and AML/CTF policies is essential. Conduct controls testing across the Bank in line with the Permanent Controls Testing Plan and report findings to the Compliance Officer. Be proactive in customer outreach to keep KYC information current and confirm transactions. Pay special attention to SoF and SoW, documenting all corroborating research and findings. Analyse customer account activity during scheduled reviews to identify any transactions that deviate from expected behaviour. Understand each customer's business and relationships to monitor for unusual activity effectively. Escalate any suspicious transactions to the Compliance Officer & MLRO and assist in further investigations. Maintain clear and efficient communication with internal and external stakeholders during KYC updates. Ensure a complete and auditable record trail. Ensure all changes to customer data are accurately reflected in KYC files and the Bank's core banking systems. Maintain records in accordance with the Bank's policies on data protection, filing, and archiving. Participate in ad-hoc projects as assigned.

Education & Qualifications

Preferably a university degree Professional qualification (ICA or CAMS) is an advantage

Work Experience

Minimum 2 years' experience in a similar role within a retail or private bank serving HNW customers Solid knowledge of banking products and services

Skills & Competencies

Good understanding of UK AML and CTF regulations Working knowledge of GDPR and the Data Protection Act Strong written and verbal communication skills Ability to manage KYC updates tactfully with customers Capable of prioritizing and meeting strict deadlines Strong analytical skills with the ability to articulate risk clearly Proficient in Microsoft Excel and database management

Job Details

Job Type:

Permanent, Full-time

Pay:

35,500.00 - 40,000.00 per year

Benefits

Company pension Luncheon allowance (600) Life assurance Permanent health insurance Critical illness cover Bupa Membership Travel Insurance

Schedule

8-hour shift Monday to Friday

Location Requirement

London, SW3 1LZ

Ability to commute/relocate required.

Job Types: Full-time, Permanent

Pay: 35,000.00-40,000.00 per year

Benefits:

Company pension Life insurance Private medical insurance
Ability to commute/relocate:

London SW3 1LZ: reliably commute or plan to relocate before starting work (required)
Education:

Bachelor's (required)
Experience:

Environmental compliance: 2 years (required)
Work authorisation:

United Kingdom (required)
Location:

London SW3 1LZ (required)
Willingness to travel:

100% (required)
Work Location: In person

Reference ID: KYC Assistant Banque Banorient