Banking

Onboarding & Account Opening Officer

Published:
1st November 2023
Location:
City of London, United Kingdom
Category:
Banking  
Job Type:
Salary:
up to £40,000 per annum plus some benefits
Role:
Compliance

Description

We are recruiting on behalf an international Bank based in the City, who are hiring within their Account Opening back office team. There are two Fixed Term Contracts vacancies starting with 2 months with potential extensions with the intention to cover sick leave. The successful candidate must be immediately available or on a short notice period.

Job Purpose

  • Perform end-to-end checks on all Account Opening applications in accordance with internal control functions including risk screening & sanction tools escalating any AML/CTF cases to MLRO/Compliance function
  • Coordinate with Front Office, Credit, Compliance Teams and management to understand client structure/documentation and agree or give guidance on requirements
  • Handling higher risk accounts, which includes but not limited to, charities, SPVs accounts with complex or opaque structures and those individuals who pose higher level of risk through jurisdiction of domicile or residence
  • Ensuring relationship teams have carried out sufficient customer due diligence, covering source of wealth, source of funds and that the client has been correctly risk classified
  • KYC checks for entities to ensure they are in-line with bank requirements i.e. scrutinizing company, charities or trusts documents and ensuring documents aligns with the information we hold on the potential client
  • Conducting Worldcheck, Accuity, Google, Advance Google searches on all potential clients and ensuring any match found is correctly investigated or escalated (to Compliance/MLRO) if necessary
  • Establishing and maintaining a good working relationship with all stakeholders
  • Effectively liaising with branches regarding outstanding documents and any ambiguities in relation to the accounts
  • Being vigilant in record keeping, e.g. ensuring all original account opening files are received within appropriate time and carrying out post account markings
  • Oversee day-to-day review of on-boarding & amendments for account applications & process: Monitor team's inbox and work queues ensuring SLA time is met
  • Maintaining and managing work load and issues for discussion with Management
  • Monitor branch request status; escalate delays and issues to Manager or relevant function
  • Ensuring all Account information and work is tracked including, clients on-boarded, pending accounts and referred accounts
  • Provide daily, monthly and annual reports with clear breakdowns
  • Process account closure requests as per bank policy and ensure all documentation is in order. Liaise with relevant department for any issues and monitor progress giving updates to branches as and when required
  • Understand, process and action Internet banking & secure key requests. Ensure familiarisation with entire online banking system and ensure correct procedure is followed throughout the process
  • Keep up to date with latest Policies, regulations, bank’s policies and updates in procedures. Ensure all updates are reflected on internal control & review functions
  • Contribute & be involved in process improvement & actively participate in productivity/work quality enhancement
  • Ad hoc Projects & exercises as and when implemented - ensure these are completed whilst managing daily tasks.
  • Data management, organisation & reporting. ALL work to be tracked using excel, shared drives & internal data management systems

Aisha Ishaq

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