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Due Diligence Associate

  • Operations
  • Full time
  • R-225614

About this role:

This position will be working with the Periodic Review team within the Financial Crimes Operations organization. The PR team is responsible for Ongoing Customer Due Diligence (CDD) profile reviews which provides the opportunity to update and refresh information in the system of record. The Due Diligence Associate will report to a Due Diligence Associate Manager. 

In this role, you will:

  • Review CDD requirements and required jurisdictional requirement documents to determine necessary screenings and investigations.  
  • Identify events (at onboarding and/or throughout customer lifecycle) that could be material for the businesses.
  • Support financial crimes teams as needed to perform research and/or to confirm/discount matches.
  • Conduct and provide guidance with process/product owner specific to implementation and execution of business-specific guidelines relating to client on-boarding, client periodic reviews, and quality processes.
  • Provide support in the interpretation of policy, guidelines, and governance programs.
  • Participate in and provide compliance support for projects and initiatives with high risk to identify, assess and mitigate BSA/AML risk in business activities.
  • Act as a subject matter expert on due diligence documentation requirements and data sources. Gather and input data utilizing multiple internal systems and/or external 3rd party resources to identify documentation required to meet policy or regulatory requirements.
  • Act as a focal point for escalated issues and assist in department guidance; develop and deliver procedures/training.
  • Support and implement initiatives with low to moderate risk.
  • Interaction with the internal partners to support the process.
  • Effectively manage work requests to meet performance expectations. 

Required Qualifications:

4+ years of experience in one or a combination of the following

  • Familiarity with and working knowledge of BSA/AML programs including all aspects of KYC and / or other related risk and regulatory disciplines.
  • Bachelor’s degree in business, finance or economics.

Desired Qualifications:

  • Knowledge and a broad background in Commercial Banking and in Corporate and Investment Banking.
  • Experience in operational risk management processes and/or compliance and / or audit and / or regulatory programs with KYC duties.
  • On-boarding/periodic review KYC customer processing or financial crimes investigations experience strongly preferred.
  • Thorough understanding of CIP/CDD/EDD requirements.
  • WF AML/Sanctions credential, ACAMS, CFE or CRCM designation.
  • Strong analytical skills.
  • Excellent communication and relationship/partnership building skills.
  • Proficiency in Office Suite (Excel, Word, PowerPoint, Outlook) and SharePoint.
  • Bachelor’s degree in business, finance or economics.


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, 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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