What are the responsibilities and job description for the Due diligence specialist position at Centennial Bank?
GENERAL DESCRIPTION OF POSITION
The Know Your Customer (KYC) Enhanced Due Diligence Specialist is a part of the Customer Risk & Due Diligence Unit of Centennial Bank and is responsible for ongoing review and risk mitigation of customers classified by policy as higher risk of exposure to ML / role is also tasked with making recommendations to KYC Management related to the appropriateness of a specific risk designation based on the outcome of the research, transaction analysis, and questionnaire / form completion for high-risk customers.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Maintains continuous awareness of policy / procedure updates resulting from changing regulatory requirements and adheres strictly to the Code of Ethics and all BSA / AML information security and confidentiality requirements, without exception.
This duty is performed daily, about 25% of the time.
2. Performs customer research and transaction analysis for new and existing customers found to pose a higher risk of exposure to ML / TF based on the bank customer risk rating model, both new and ongoing.
This duty is performed daily, about 50% of the time.
3. Provides input into the risk model feedback loop to ensure customers have scored accurately without compromising the integrity of the model based on customer risk review outcomes.
This duty is performed monthly, about 10% of the time.
4. Evaluates system generated Alerts associated with customers granted custom monitoring profiles when activity exceeds expected.
This duty is performed monthly, about 10% of the time.
5. Submits referrals to the Alert Investigation Team where appropriate or recommends monitoring profile adjustment to Investigation and EDD Management.
This duty is performed monthly, about 10% of the time.
6. Supports KYC EDD Team participation in BETA opportunities presented within the risk rating system for customer risk agents;
may also assist with certain user tests for updated or new risk agents, as assigned by management. This duty is performed as needed, about 5% of the time.
7. Completes required BSA / AML training and other compliance training as assigned. This duty is performed quarterly.
8. The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily.
9. Perform any other related duties as required or assigned.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty mentioned requirements listed below are representative of the knowledge, skill, and / or ability required.
EDUCATION AND EXPERIENCE
Broad knowledge of such fields as accounting, marketing, business administration, finance, etc. Equivalent to a four year college degree, plus 3 years related experience and / or training, or equivalent combination of education and experience.
COMMUNICATION SKILLS
Ability to read and understand documents such as policy manuals, safety rules, operating and maintenance instructions, and procedure manuals;
ability to write routine reports and correspondence. ability to effectively communicate information and respond to questions in person-to-person and small group situations with customers, clients, general public and other employees of the organization.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
Ability to apply concepts such as fractions, ratios, and proportions to practical situations.
CRITICAL THINKING SKILLS
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
REQUIRED CERTIFICATES, LICENSES, REGISTRATIONS
Not indicated.
PREFERRED CERTIFICATES, LICENSES, REGISTRATIONS
Certified Know Your Customer Associate (CKYCA), Certified Anti-Money Laundering Specialist (CAMS), or other related certification
SOFTWARE SKILLS REQUIRED
Intermediate : Word Processing / Typing
Basic : 10-Key, Accounting, Alphanumeric Data Entry, Contact Management, Database, Presentation / PowerPoint, Spreadsheet
WORKING CONDITIONS
Normal working conditions as found within an office setting, wherein there is controlled temperature and a low noise level, plus a minimum of distractions.
ENVIRONMENTAL CONDITIONS
The following work environment characteristics described here are representative of those an employee encounters while performing essential functions of this job.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
PHYSICAL ACTIVITIES
The following physical activities described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.
Semi-repetitive, low physical. Semi-repetitive type work, which requires periods of concentration for varied time cycles as prescribed by the tasks.
- While performing the functions of this job, the employee is continuously required to sit, use hands to finger, handle, or feel, talk or hear;
- occasionally required to stand, walk, reach with hands and arms, stoop, kneel, crouch, or crawl. The employee must occasionally lift and / or move up to 25 pounds;
frequently lift and / or move up to 10 pounds. Specific vision abilities required by this job include close vision; and color vision.
ADDITIONAL INFORMATION
- Three (3) years of related experience and / or training
- Two (2) years of qualifying experience must have been continuous, recent, and within a financial institution.
- Bachelor's degree focus desirable for position : Criminal Justice, Banking Compliance / AML Specialized, Political Science, Mathematics, or Economics
- Experience working with customer risk rating models, inclusive of demographic, transactional, and behavioral scoring methodologies, is preferred
Last updated : 2024-09-27
