Description
MUFG in Hong Kong is seeking an Associate, Know Your Customer (KYC) to join their dedicated team. This role offers the opportunity to work at the forefront of client onboarding for Financial Institutions (FIs) and Non-Bank Financial Institutions (NBFIs), including funds with General Partner (GP) and Limited Partner (LP) structures.
As an Associate, you will be entrusted with managing complex onboarding cases for financial institutions and non-bank entities. Your day-to-day responsibilities will involve performing thorough due diligence on high-risk clients, including those with intricate ownership structures or connections to sensitive jurisdictions, while meticulously analysing ownership details and documenting risk assessments.
Responsibilities:
- Manage assigned onboarding cases for Financial Institutions and Non-Bank Financial Institutions by identifying documentation gaps and supporting timely, efficient onboarding processes.
- Perform enhanced due diligence on high-risk clients such as Politically Exposed Persons (PEPs), clients with complex ownership structures, and those connected to high-risk jurisdictions.
- Analyse ownership information, beneficial ownership details, source of funds, and source of wealth data while documenting risk assessments and mitigation measures thoroughly.
- Investigate red flags, adverse media reports, and suspicious activity indicators; escalate findings promptly to Financial Crime Compliance teams.
- Contribute actively to the development of KYC procedures, risk assessment frameworks, management information systems, audit trails, and regulatory evidence documentation.
- Utilise resources efficiently to minimise avoidable rework and support timely onboarding that enables business activity without compromising compliance standards.
- Facilitate client contact and collection of KYC documentation while providing high-quality service; use reliable public sources such as Bankers Almanac to limit duplicate or unnecessary customer requests.
- Mentor and support junior KYC analysts on case handling techniques, regulatory updates, and internal procedures; provide delivery support or cover for team priorities when needed.
- Collaborate closely with onshore and offshore colleagues as well as cross-functional teams to streamline onboarding processes while maintaining rigorous compliance standards.
- Maintain accurate case status records in centralised trackers; ensure effective end-to-end control of assigned KYC cases by proactively identifying roadblocks, proposing practical solutions, escalating unresolved matters within agreed authority limits.
Requirements:
- 3 – 5 years’ experience in KYC/AML or financial crime roles within a financial institution; exposure to complex or high-risk client analysis is highly desirable.
- Bachelor Degree-level education or equivalent professional experience; relevant AML/KYC or compliance qualification is preferred but not mandatory.
- Demonstrated strong working knowledge of KYC/AML and Counter-Terrorism Financing requirements relevant to Financial Institutions and Non-Bank Financial Institutions, including experience with complex ownership structures.
- Proven analytical skills combined with problem-solving abilities that enable you to manage intricate cases independently while maintaining attention to detail.
- Excellent interpersonal skills paired with written communication capabilities that facilitate effective engagement with clients and stakeholders across diverse backgrounds.
- Proficiency in Microsoft Word, Excel, and PowerPoint for documentation preparation, reporting tasks, and presentation purposes.
- Working knowledge of applicable global standards as well as local regulatory requirements governing financial crime prevention within financial institutions.
- Experience in FI/NBFI onboarding processes including enhanced due diligence procedures, ownership analysis techniques, and stakeholder coordination activities is advantageous.
- Ability to mentor junior analysts effectively by sharing knowledge about case handling methods, regulatory changes, internal procedures, and best practices.
- Capacity for collaborative teamwork across onshore/offshore environments coupled with commitment to maintaining compliance standards throughout all interactions.