MUFG Global Service (MGS) Hiring for AVP – FI EDD Specialist {Wolfesberg & EDD} at Bangalore Full Time

About Us

MUFG Bank, Ltd. is Japans premier bank, with a global network spanning in more than 40 markets. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments, and individuals worldwide. MUFG Banks parent, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the worlds leading financial groups. Headquartered in Tokyo and with over 360 years of history, the Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

The Group aims to be the worlds most trusted financial group through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFGs shares trade on the Tokyo, Nagoya, and New York stock exchanges.

For more information, visit https://www.mufg.jp/english

MUFG Global Service Private Limited

Established in 2020, MUFG Global Service Private Limited (MGS) is 100% subsidiary of MUFG having offices in Bengaluru and Mumbai. MGS India has been set up as a Global Capability Centre / Centre of Excellence to provide support services across various functions such as IT, KYC/ AML, Credit, Operations etc. to MUFG Bank offices globally. MGS India has plans to significantly ramp-up its growth over the next 18-24 months while servicing MUFGs global network across Americas, EMEA and Asia Pacific

About the Role

Position Title: MGS GFCD- Global FI EDD Corporate Title: Assistant Vice President Reporting to: Vice President

Location: Bengaluru

Job Profile

Purpose of Role

• Delivering high-quality and pro-active support to business activities and assisting the firm to do business in the right way
• Performing Enhanced Due Diligence (EDD) on Financial Institution (FFI) clients, for example Foreign Banks, Broker-Dealers, Money Service Businesses (MSBs), Third-Party Payment Processors (TPPPs) etc.
• Being responsible for reviewing a variety of cases of varying complexity, requiring a level of experience needed to effectively assess clients profile, its AML program, transactions, and customer relationships, and provide holistic assessment of the potential financial crime risks.
• Ensuring the FI EDD processes are run efficiently to deliver quality and reliable information, to support the firms business growth and control procedures; and Delivering risk-based assurance to the firms senior management and the Group through independent challenge and quality reporting.

Roles and Responsibilities

• In Global FI EDD, the Financial Institutions Enhanced Due Diligence teams key responsibilities are:
• Reviewing Customer Due Diligence including Ownership structure, PEPs and Customer Risk Ratings.
• Performing Enhanced Due Diligence on onboarding, periodic reviews and event driven reviews providing recommendations for Financial Institutions and Correspondent Banking clients.
• Facilitating client site visits (calls) and reviewing all documentation required.
• Managing the screening processes including adverse media and any resulting escalations to the relevant advisory teams, where necessary.
• Processing ad-hoc advisory requests from Global offices, queries relating to completing KYC on complex ownership structures and complex transactions and providing risk recommendations.
• Analyzing data and producing management reports and Key Performance Indicators to support business decisions.
• Performing quality checks on the FI EDD team output and ensuring any recommendations are communicated to the appropriate parties and addressed in a timely manner.
• Updating procedures and understanding gaps in line with UK and Global regulatory and legal requirements, including advisory guidance and overseeing the provision of training.
• Equally sharing responsibilities of review and QC amongst the FI EDD Specialists in accordance with the Global Financial Institutions Standards; and Supporting business as usual activities and other duties,including ad hoc projects as assigned.

Job Requirements:

Work experience

• Overall, 10 to 15 years of work experience, out of which minimum of 5 years FI KYC with EDD experience is essential for this role.
• Experience of performing KYC with EDD on Financial Institution and Correspondent Banking clients.
• Experience of FI KYC quality checking and/or assurance testing required.

Education & Professional Qualifications

• Bachelors Degree and AML related certifications preferred or equivalent work experience.
• Knowledge of KYC and the regulatory environment.
• General understanding of IT systems used in the KYC area.

Skills and experience

• Strong knowledge and experience in Foreign Correspondent, Wholesale Banking and product risks associated with cross-border transaction banking and payments; trade finance; remote deposit collection; pouch; FX; and derivatives; and client risks associated with foreign financial institutions and non-bank financial institutions.
• Knowledge and experience with FATF and Wolfsberg guidance on AML and sanctions related to correspondent banking.
• Ability to research and investigate complex FI clients and understand their business need to conduct transactions accordingly.
• Strong proficiency in Microsoft Excel to cleanse, develop and interpret data, and produce reports.
• Excellent analytical skills to develop financial/statistical data and reports and evaluate flow of funds on complex relationships
• Demonstrated knowledge and ability to identify and evaluating various white-collar crime, general fraud and money laundering schemes
• Knowledge of outside sources to perform advanced enhanced due diligence; and
• Ability to synthesize information from multiple data sources into a clear evaluation and recommended actions.
• Ability to make risk decisions within established policy and procedure and understand when to advance issues to management for further direction
• Preferred training and experience in management within the banking industry, investigative, and/or legal / compliance functions
• Basic Python scripts running skills to process Transactional Due Diligence. Personal requirements:

Excellent communication skills.

• Results driven, with a strong sense of accountability.
• A proactive, motivated approach.
• The ability to operate with urgency and prioritize work accordingly.
• Some experience of supervising tasks of more junior staff
• Strong decision-making skills ,the ability to demonstrate sound judgment.
• A structured and logical approach to work.
• Strong problem-solving skills.
• Excellent interpersonal skills.
• The ability to manage large workloads and tight deadlines.
• Excellent attention to detail and accuracy.
• A calm approach, with the ability to perform well in a pressured environment.

Equal Opportunity Employer

The MUFG Group is committed to providing equal employment opportunities to all applicants and employees and does not discriminate on the basis of race, colour, national origin, physical appearance, religion, gender expression, gender identity, sex, age, ancestry, marital status, disability, medical condition, sexual orientation, genetic information, or any other protected status of an individual or that individual’s associates or relatives, or any other classification protected by the applicable laws.