Senior Manager, Client Due Diligence

RBC • Raleigh, NC

8d

About The Position

As the Client Due Diligence (CDD) Manager with RBC Bank, you will be responsible for the oversight and onboarding of new accounts for the domestic US RBC Bank SBL Credit business, and perform periodic reviews in accordance to Anti-Money Laundering (AML)/ Bank Secrecy Action (BSA) requirements or as set by internal policies and procedures. You will manage and undertake due diligence and review processes to understand the AML risks associated with the client relationship and ensure that appropriate Know Your Customer (KYC) and other due diligence is obtained and maintained in accordance with internal and regulatory standards. You will also assist the Director of Credit Originations with fulfillment of the credit origination process including the review of new account documentation packages, support of the credit assessment process, and providing advice on due diligence completed to open new accounts.

Requirements

• 7+ years’ experience at a wealth management firm or other financial institution, with direct experience in BSA and AML regulations and client due diligence
• 5+ years’ management experience of a team of up to 5 director reports and related process BSA and AML processes.
• Strong knowledge of BSA and AML regulations, client due diligence regulatory requirements and affiliated compliance regulations.
• Basic knowledge of banking services and products
• Full knowledge of document requirements for Know Your Client (KYC) regulations
• Experience clearing OFAC false positives
• Understanding of regulations and procedures inherent to financial services, including knowledge of relevant local and Federal regulations
• Technology savvy, including proficiency in MS Office: Word, Excel, Outlook
• Strong written and verbal communication skills
• Demonstrated risk and control mindset
• Demonstrated commitment to high quality standards
• Demonstrated strong analytical skills
• Extremely detail oriented and organized
• Resourceful and creative problem-solving skills, with demonstrated experience in process improvements
• Ability to adapt and operate in a fast paced/changing environment
• Ability to multitask/prioritize workload in an environment with changing priorities
• Ability to successfully perform work independently, while also being able to collaborate and work towards team outcomes

Nice To Haves

• Demonstrated interpersonal effectiveness of working with a diverse set of departments across an organization
• Demonstrated ability to adapt to changing business environments and adjust strategic plan, if necessary
• AML-specific annual training requirement of 10-15 hours to be applied towards CAMS recertification
• Demonstrated experience working with different functional groups at a wealth management firm
• CAMS Certification

Responsibilities

• Manage team and processes to perform the necessary due diligence to ensure potential new clients meet all the current KYC (Know Your Client) and AML (Anti Money Laundering) requirements, including OFAC/World Check and PEP (Politically Exposed Person) Screening, and produce risk-based analysis prior to onboarding for the US Domestic Credit Department.
• Proactively manage and identify opportunities for process efficiency enhancements and propose possible solutions
• Manage team and related processes of reviewing and analyzing the risk rating methodology for new/existing clients. Assimilate findings and escalate necessary items to management or compliance as needed for further actions.
• Proactively resolve queries and escalate identified issues in a timely manner.
• Manage team and process adherence to compliance with controls and procedures of Client Due Diligence policy covering all aspects of account opening and maintenance processes.
• Maintain a working knowledge of AML and OFAC regulations, Bank Secrecy Act, and USA Patriot Act in order to ensure compliance and update internal policies and procedures.
• Ensure the integrity of the client information such as KYC and Source of Wealth is in line with RBC’s risk-appetite and documentation is correct and in good form.
• Regularly review, maintain and update Client Onboarding documentation and procedures to ensure seamless correlation with AML and CDD policies established by RBC.
• Perform periodic reviews of accounts as required by policies or procedures.
• Assist the Director, SBL Operations with internal/external audits (maintain the highest standards of audit and compliance requirements).
• Actively participate in supporting the credit origination process including the preparation of transaction requests for approval of new credit facilities.
• Analyze client documents and financial statements to evaluate credit structure and terms for potential borrowers.
• Prepares supporting information to be used for credit decision recommendations.
• Establish and maintain effective relationships with business partners.

Benefits

• We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper.
• We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• A world-class training program in financial services.
• Opportunities to do challenging work, including leveraging AI and SRE principles to drive innovation and operational excellence.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees