Enhanced Due Diligence Associate

at  HSBC

Job description
Some careers prize diversity more than others.
If you’re looking for a career where you will be respected as an individual and valued for the contributions you make, join HSBC and discover how diversity drives our success. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
We are currently looking for a proactive and diligent Enhanced Due Diligence (EDD) Associate who will be responsible for conducting in-depth reviews of our higher risk customers to prevent potential money laundering and other financial crimes.
The Enhanced Due Diligence Team works in close collaboration with the client coverage teams across Global Banking and Commercial Banking, Business Financial Crime Risk (BFCR), Financial Crime Compliance (FCC), Client Due Diligence teams and other stakeholders taking a lead role in completion of an EDD report to ensure that we have an appropriate fully comprehensive documented evaluation of our highest risk entities.
This is an exciting opportunity to work with internal and external stakeholders to conduct thorough EDD reviews of Correspondent Banks (CBs), Money Service Businesses (MSBs) and Third Party Payment Providers (TPPPs) that pose higher financial crime and potential money laundering risks. You will use your knowledge of financial crime, due diligence and regulatory requirements to provide advice and support to key internal and external stakeholders. The role will report to the Europe EDD team lead.

Your responsibilities will include:

• To proactively lead and perform Enhanced Due Diligence reviews on CB/MSB/TPPP’s to identify, assess and mitigate financial crime risks.
• EDD meetings and regular follow ups with clients and RM/GRB to understand, challenge, and document risks and issues.
• Prepare detailed comprehensive EDD Reports in a timely manner, presenting the risk assessment of the client, make appropriate decisions and recommendations.
• Analysing financial intelligence reports/data including transactional analysis as part of the EDD review.
• Providing support and guidance to other members of the EDD team, Relationship Managers and Global Relationship Mangers, Wholesale Client Services, Financial Crime Compliance and other stakeholders.
• Assessing and promptly escalating risk concerns identified through the EDD process
• Assisting in the identification of the CB population through the analyses of the transactional activity processed via the accounts the client holds with HSBC.
• Managing and owning a book of work while understanding business and regulatory driven priorities.
• Responding to queries and assist with audit or remediation activity as needed

Requirements

The ideal candidate for this role will have:

• Proven experience in conducting Anti-Money Laundering (AML) reviews, demonstrating a thorough understanding of the risks related to financial crime in sectors such as correspondent banking, Money Services Business, Third Party Payment Processors, and payment systems is required.
• Strong analytical, critical thinking skills and experience conducting transactional analysis is required.
• Understanding of foundational Anti-Money Laundering /Counter Terrorism Financing knowledge and strong Anti-Bribery & Corruption and/or sanctions control experience from within a large banking organisation, or from a background in consulting, risk management.
• A proactive attitude, not afraid to take initiative, with the ability to multitask and prioritize effectively under deadlines.
• Strong analytical, critical thinking skills and experience conducting transactional analysis.
• Strong stakeholder management and effective communication skills in order to convey information in an accurate, clear and concise way.
• An willingness to challenge, use judgment and ask the right questions.
• An ability to negotiate and work effectively across geographies.
• Please Note: This is a hybrid role based in London.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.
We take pride in being part of the Disability Confident Scheme. This helps make sure you can be interviewed fairly if you have a disability, long term health condition, or are neurodiverse.
If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:
Email: hsbc.recruitment@hsbc.com
Telephone: +44 207 832 8500.

Your responsibilities will include:

• To proactively lead and perform Enhanced Due Diligence reviews on CB/MSB/TPPP’s to identify, assess and mitigate financial crime risks.
• EDD meetings and regular follow ups with clients and RM/GRB to understand, challenge, and document risks and issues.
• Prepare detailed comprehensive EDD Reports in a timely manner, presenting the risk assessment of the client, make appropriate decisions and recommendations.
• Analysing financial intelligence reports/data including transactional analysis as part of the EDD review.
• Providing support and guidance to other members of the EDD team, Relationship Managers and Global Relationship Mangers, Wholesale Client Services, Financial Crime Compliance and other stakeholders.
• Assessing and promptly escalating risk concerns identified through the EDD process
• Assisting in the identification of the CB population through the analyses of the transactional activity processed via the accounts the client holds with HSBC.
• Managing and owning a book of work while understanding business and regulatory driven priorities.
• Responding to queries and assist with audit or remediation activity as neede

The ideal candidate for this role will have:

• Proven experience in conducting Anti-Money Laundering (AML) reviews, demonstrating a thorough understanding of the risks related to financial crime in sectors such as correspondent banking, Money Services Business, Third Party Payment Processors, and payment systems is required.
• Strong analytical, critical thinking skills and experience conducting transactional analysis is required.
• Understanding of foundational Anti-Money Laundering /Counter Terrorism Financing knowledge and strong Anti-Bribery & Corruption and/or sanctions control experience from within a large banking organisation, or from a background in consulting, risk management.
• A proactive attitude, not afraid to take initiative, with the ability to multitask and prioritize effectively under deadlines.
• Strong analytical, critical thinking skills and experience conducting transactional analysis.
• Strong stakeholder management and effective communication skills in order to convey information in an accurate, clear and concise way.
• An willingness to challenge, use judgment and ask the right questions.
• An ability to negotiate and work effectively across geographies.
• Please Note: This is a hybrid role based in London