Job Title
Wealth Management - Client Onboarding/KYC Specialist
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Job Summary
Our client, a leading Private Wealth Manager, is seeking an experienced Client Onboarding/KYC specialist to join their team for an initial 12-month contract in either Sydney or Melbourne.
About the Role
The ideal candidate will have private banking and wealth management onboarding understanding for UHNW/HNW and trusts, working in a Compliance/AML function or has onboarding experience at another top-tier global bank.
Key Responsibilities:
* Review documentation from Sales, including Client Identification Program (CIP) documents, Account Opening Documents, and other required documents. Communicate timely and effectively to Sales on missing documentation, inconsistent information, and incorrect data capture in the onboarding platform.
* Escalate regulatory concerns or exceptions to the Manager for further review and discussion; conduct Enhanced Due Diligence where necessary. Submit accounts with high-risk triggers or high-risk accounts for Global Financial Crimes (GFC) signoff.
* Review and validate the accuracy of values that impact clients' ML/TF risk, such as Source of Wealth (SoW) and Total Net Worth.
* Continuous and active engagement with Sales teams to share KYC and ML/TF guidance, with the objective to improve the standard and quality of KYC and client due diligence.
* Ensure account opening documentation and relevant approval records are retained properly in internal databases and monitor the receipt of any outstanding documentation within required timeframes.
Requirements:
* Knowledge of account structures of various complexity.
* Knowledge of trusts, charities, and foundations (a plus).
* Knowledge of CIP requirements for onboarding High Risk clients (a plus).
* Excellent verbal and written communication skills.
* Organized and detail-oriented.
* Self-motivated and enthusiastic.
* Able to understand associated risks and importance of work (e.g., red flags, high-risk industries).
* Base-level knowledge of complex entities, especially trusts.
Education and/or Experience:
* Bachelor's degree required or equivalent education or experience.
* 3-6 years of relevant working experience in the financial services industry. Candidates with less experience may be considered.
* Ideally with previous experience in Compliance or Risk within a private bank or onboarding in a top-tier bank.