Sumitomo Mitsui Banking-posted 5 months ago
$75,000 - $120,000/Yr
Full-time • Entry Level
Hybrid • Jersey City, NJ
5,001-10,000 employees
Credit Intermediation and Related Activities

The KYC Quality Control Associate position is part of the Compliance Operations Department, specifically within the Account Control Group (ACG) QC. This role is responsible for performing processes related to Know Your Customer (KYC/CIP), assessing the quality of KYC folders, assisting with specialized projects, and supporting the ACG VP with day-to-day operational processes and reporting. The associate may act as a team leader or individual contributor, ensuring operational efficiencies and customer data integrity in accordance with internal policies and compliance with AML/BSA/OFAC regulations.

  • Ensures operational efficiencies and customer data integrity in accordance with internal policies and procedures of SMBC and Head Office and compliance with AML/BSA/OFAC regulations.
  • Performs new customer onboarding, account opening, account updates, and static data maintenance.
  • Provides quality control of KYC (Know Your Customer) and CIP customer information and assures verification in accordance with AML policy and procedure.
  • Ensures adherence to the SMBC KYC Program and supports industry-mandated changes or system changes by participating in the change process.
  • Collects and reviews all required KYC information and documentation within prescribed time frame.
  • Confirms that verification documents are obtained and work performed by the ACG Analyst are completed within a prescribed time frame.
  • Conducts background checks (i.e., OFAC, politically exposed persons, 311 and adverse information checks).
  • Maintains evidence of search results in the KYC system and escalates to the BSA Officer any confirmed or suspected name matches associated with material negative information.
  • Troubleshoots routine and some complex issues with KYC/CIP system and various subsystems to resolution.
  • Provides quality check for updates made to existing customer records including appropriate documentation review.
  • Performs quality check reviews on alerts or cases and tracks deficiencies to enhance procedural standards.
  • Works with the ACG VP to ensure business continuity under all conditions with strict adherence to established guidelines and deadlines.
  • Very strong technical knowledge of AML, Bank Secrecy Act, Foreign Asset Control.
  • Very strong level knowledge of KYC (Know Your Customer) process and regulations.
  • Strong knowledge of banking policies, statutory and compliance regulations.
  • Strong knowledge of market practices related to compliance operations.
  • Good judgement, sense of urgency and accountability; time-management skills; critical thinking skills.
  • Ability to supervise and train others.
  • Ability to execute in a high pressure environment.
  • Good interpersonal skills.
  • Strong written and verbal communication skills.
  • Competitive salary range between $75,000.00 and $120,000.00.
  • Eligibility for an annual discretionary incentive award.
  • Comprehensive benefits portfolio.
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