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Senior Due Diligence Consultant

About this role:

Due Diligence owns the client due diligence process and engages with clients, relationship team and third parties to mitigate risk via a thorough due-diligence process which may include: conducting comprehensive research and/or background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate associated sanctions, credit, financial crime, and reputational risks and thoroughly documenting findings. Engages with clients directly or indirectly through relationship managers to support meeting policy / regulatory requirements in a manner consistent with Wells Fargo s values and focus on client satisfaction. Consults and provides guidance to business groups and process/product owners on the implementation and execution of business-specific programs, processes and controls that review bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a low to moderate degree of complexity and risk to determine appropriateness for Wells Fargo. Consults and provides support in the interpretation of policy, guidelines, and governance programs for low to moderate risk and complexity due diligence programs. Gathers and inputs data utilizing multiple internal systems and/ or external 3rd party resources to identify documentation required to meet policy or regulatory requirements. Analyzes data to identify issues to be escalated for review of compliance with regulatory and department guidance. Supports business in execution of due diligence reporting processes and controls. Aggregates, evaluates, reports results and escalates where necessary. Supports and implements initiatives with low to moderate risk. Internal interaction with team to support identification, management and mitigation of business-specific risk programs. Operates independently and effectively manages work requests to meet performance expectations .

In this role, you will:

  • Conduct full KYC/AML verification checks on all new and existing clients clients in accordance with relevant jurisdictional, requirements, regulations, and firm policies as appropriate.
  • Investigate ownership and control of the client to identify all ultimate beneficiaries and possible PEPs for KYC and risk management purposes.
  • Provide advice to the business in order for them to obtain information and documentation required to ensure compliance with relevant Anti-Money Laundering laws, rules and regulations.
  • Investigation of the client’s background utilizing all available internal/external systems, to develop a full picture of who the client is and whether any high risk factors are revealed.
  • Liaise and co-ordinate with various other departments as necessary regarding client on-boarding.
  • Ensure that all relevant KYC/AML information is adequately recorded, especially information relating to source of funds / source of wealth and expected account activity, for risk management purposes.
  • Liaise with the business or operations where necessary in order to provide the client with a clear understanding of firm and regulatory requirements.
  • Assist with the ongoing maintenance of client information and documentation.
  • Assist with updating procedures and trackers related to Customer due diligence BSA / AML program
  • Assist with ad-hoc projects, as required

Required Qualifications:

  • 5 plus years’ experience in a KYC/CDD or risk management role or similar role.
  • Solid AML compliance experience, with a good understanding of AML laws, rules and regulations in applicable jurisdictions including all aspects of CIP / CDD / EDD; some knowledge of the global AML regulatory environment is required.
  • Excellent interpersonal and communication skills and experience dealing with front office staff, relationship teams and financial crimes risk management on a daily basis.
  • The ability to work unsupervised, and willingness to work to deadlines to get the job done when required.
  • Strong organizational skills, attention to detail, and adherence to strict deadlines in a fast faced and high pressure environment.
  • Senior Associates would also be expected to step into support leadership where necessary on the day to day management of work and teams.
  • Senior Associates are expected to lead processes on efficiencies and work flow management.
  • The Senior Associate will be a mentor and coach to junior members of the team and assist with managing the integration of new team members in the team.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.


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