What are the responsibilities and job description for the KYC Manager position at UBS?
United States
Risk
Global Wealth Management
Job Reference #
255032BR
City
New York, Weehawken
Job Type
Full Time
Your role
Do you have a strong understanding of AML/ OFAC regulations? Are you someone who is interested in identifying risks and offering and implementing suggestions that enhance the workplace?
- the role of the KYC Manager is to ensure that the firm and its employees conduct business in accordance with federal and state laws and rules and regulations, including the rules and regulations of the Securities and Exchange Commission, The Federal Reserve Bank, the Commodity Futures Trading Commission, FINRA, and other governmental agencies, self-regulatory organizations and internal policies and industry best practices.
- the KYC Manager is accountable for executing the Know Your Customer (KYC) activities, ad-hoc regulatory requirement reports, and remediation's of the branch. This includes delivering the Compliance program for anti-money laundering, anti-bribery, sanctions, Cross Border, Fiscal Compliance and related disciplines.
- identify key risks in the current client lifecycle management process and recommend strategies to for future state design to mitigate AML risks while operationalizing efficiency levers and reduce account opening lead times
- provide Subject Matter Expertise on potential key risks identified during the EDD review process (e.g., SOW corroboration, negative news/adverse media screening, collection of required UBO/partner documentation, customer activity reviews, client risk rating, etc.)
- develop and implement BSA/AML related frameworks, policies and procedures utilizing a Risk Based Approach consistent with UBS' risk profile
- experience with applicable laws, rules and regulations pertaining to BSA/AML statutory and non-statutory requirements, including, Bank Secrecy Act, PATRIOT Act, FFIEC Examination Manual, FinCEN CDD Rule, etc.
- analyze high risk counterparties, reputational risks, and politically exposed persons (“PEP”).
- guide on-boarding operations in understanding and complying with CIP/CDD/EDD requirements.
- assist in the development, implementation, and periodic performance of key controls.
- ensure client vetting data and document processing comply with regulations, guidelines, standard and UBS policies for all new accounts.
- daily interaction with Advisors, Branch Management, Compliance and legal regarding the questions or issues with account documentation to ensure the timely opening of account.
- analysis of KYC; ensuring all appropriate customer documentation is on file in accordance with internal and external guidelines.
- ensure the accuracy, consistency, and completeness of operational data and documents in UBS data stores.
- maintain an in-depth knowledge of client on-boarding data and document requirements as required by UBS policy
- interact with Advisors, Branch Management, Compliance and Legal regarding the questions or issues with account opening package to ensure the timely opening of account
- act as liaison between Front Office and Compliance after new account package is submitted to Compliance regarding any follow up or further inquiries
- work with branch to escalate prioritizations and issues to Supervisory Office (DSO)
- lead and execute process enhancements to improve quality or efficiency of key work in the KYC platform or other AML processes not supported by the KYC platform
- MIS reporting to senior management
- delivery on targets and objectives in line with timelines dictated by SLA's and quality expectations
- daily monitoring of team’s performance, staffing and work environment
- provide ongoing enhancement suggestions for approach, procedures and other core areas
- ensure preventive and detective KYC controls and monitoring programs are in place and provide adequate coverage
Your team
WMA CAO - Middle Office
Your expertise
- 4 year college degree or international equivalent required; Advanced degree a plus
- excellent written and verbal communication skills
- ability to interact and work closely with business stakeholders at all levels of seniority
- strong understanding of AML/ OFAC regulations
- strong understanding of commercial banking and broker dealer products and services
- possess strong analytical thinking and critical reasoning skills
- ability to work effectively in a team environment
- ability to effectively handle a fast paced environment
- successfully meet established deadline requirements
- Self-motivated with the ability to work independently
- licenses: (Series 7, 9/10) a plus
- AML/Compliance, Risk Management and/or Legal Background
- UBS-MOGUL
- EFC-DNI
- LI-UBS
About us
UBS is the world’s largest and only truly global wealth manager. We operate through four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. Our global reach and the breadth of our expertise set us apart from our competitors.
With more than 70,000 employees, we have a presence in all major financial centers in more than 50 countries. Do you want to be one of us?
With more than 70,000 employees, we have a presence in all major financial centers in more than 50 countries. Do you want to be one of us?
Join us
At UBS, we embrace flexible ways of working when the role permits. We offer different working arrangements like part-time, job-sharing and hybrid (office and home) working. Our purpose-led culture and global infrastructure help us connect, collaborate, and work together in agile ways to meet all our business needs.
From gaining new experiences in different roles to acquiring fresh knowledge and skills, we know that great work is never done alone. We know that it's our people, with their unique backgrounds, skills, experience levels and interests, who drive our ongoing success. Together we’re more than ourselves. Ready to be part of #teamUBS and make an impact?
From gaining new experiences in different roles to acquiring fresh knowledge and skills, we know that great work is never done alone. We know that it's our people, with their unique backgrounds, skills, experience levels and interests, who drive our ongoing success. Together we’re more than ourselves. Ready to be part of #teamUBS and make an impact?
Disclaimer / Policy Statements
UBS is an Equal Opportunity Employer. We respect and seek to empower each individual and support the diverse cultures, perspectives, skills and experiences within our workforce.
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