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Associate Due Diligence Co-ordinator

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Wells Fargo

1mo ago

  • Job
    Full-time
    Entry Level
  • Hyderabad, +1

AI generated summary

  • You need 6+ months of due diligence experience or equivalent through work, training, military experience, or education.
  • You will conduct compliance processes, analyze risks, identify suspicious activity, maintain documentation, interact with compliance teams, and support audits and updates to procedures.

Requirements

  • 6+ months of due diligence experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Responsibilities

  • Conduct Know your Customer compliance process for Wholesale processes in line with the requirements of the United States of America Patriot Act as well as Wells Fargo corporate Anti-Money Laundering and Bank Secrecy Act policy requirements
  • Pick up relevant samples for data quality exception to assure compliance with as prescribed in the Quality Control framework requirements
  • Participate in and provide compliance support for projects and initiatives with low to high risk to identify, assess and mitigate Bank Secrecy Act and Anti-Money Laundering risk in business activities
  • Analyze risks on escalated, referred, or alerted negative news; communicate negative findings to lines of business and supply guidance on course of action
  • Identify and research the patterns, trends, and anomalies in transactional and customer data to detect, prevent, mitigate, and report suspicious activity related to money laundering and terrorist financing
  • Maintain an audit trail of due diligence performed
  • Analyze potentially suspicious activity, which will require the review of historical activity along with customer information
  • Interact with compliance representatives to assess potential unusual activity
  • Maintain program and procedures, making updates as needed
  • Assist as needed with examinations and audits

FAQs

What is the primary responsibility of the Associate Due Diligence Coordinator?

The primary responsibility is to conduct the Know Your Customer compliance process in alignment with the United States Patriot Act and Wells Fargo's Anti-Money Laundering and Bank Secrecy Act policies.

What qualifications are required for this position?

A minimum of 6+ months of due diligence experience or an equivalent combination of work experience, training, military experience, or education is required.

Will there be opportunities to assist with audits and examinations in this role?

Yes, the Associate Due Diligence Coordinator will assist as needed with examinations and audits.

Is there a focus on diversity and inclusion in the hiring process?

Yes, Wells Fargo values diversity, equity, and inclusion in the workplace and encourages applications from all qualified candidates.

What kinds of activities will the Associate Due Diligence Coordinator analyze?

They will analyze potentially suspicious activity by reviewing historical activity and customer information to detect, prevent, and report suspicious activities related to money laundering and terrorist financing.

Will I need to maintain records of the due diligence performed?

Yes, the Associate Due Diligence Coordinator is responsible for maintaining an audit trail of due diligence performed.

Is there a specific approach to risk management in this role?

Yes, there is an emphasis on proactive monitoring, risk identification, and making sound risk decisions consistent with the business unit's risk appetite and compliance program requirements.

What is the posting end date for this job?

The posting end date is not specified, but it may close early due to a high volume of applicants.

How does Wells Fargo support applicants with disabilities?

Wells Fargo provides accommodations for applicants with disabilities upon request during the recruitment process, as outlined in their Disability Inclusion policy.

Is a drug-free workplace maintained at Wells Fargo?

Yes, Wells Fargo maintains a drug-free workplace and adheres to their Drug and Alcohol Policy.

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Wells Fargo

Finance
Industry
10,001+
Employees
1929
Founded Year

Mission & Purpose

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with approximately $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in over 40 countries and territories to support customers who conduct business in the global economy. With approximately 250,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.