Private Bank - Client Onboarding Specialist, Associate

at  Deutsche Bank

POSITION OVERVIEW

Scope

• Client Onboarding Specialist is a key first line of defense within a business line from a service and risk management perspective.
• Supports the IPB business for Emerging Markets (Global South Asia & Africa and Middle East) and the Business Management team.
• The role holder will work closely with the local team of Market Heads, Relationship Managers (RM), Compliance, Legal, Anti Financial Crime (AFC), Service Executives and Business Management Team. In addition the role holder will work with the stakeholders (including the Client Onboarding Specialists, Operations, Compliance and AFC) at the relevant Booking Centres.
• The position will support the Onboarding/Business Management team in primarily client onboarding and reviews, MIS reporting and client document archiving.

Responsibilities

• Responsible for end to end on-boarding new clients and periodic/event driven review of existing clients in a quality and timely manner.
• Liaise effectively with client-facing teams (local & Booking Centre); provide strategic guidance as needed around preparation of client documentation, account opening policies, processes and KYC/AML standards.
• Conduct due diligence with respect to new and existing relationships for the enforcement of controls associated with Know Your Client (KYC) governing documentation for various account types – individuals, legal entities and Anti Money Laundering (AML) regulatory requirements.
• Conducting research on new and existing clients, obtaining information from public sources, screening natural persons/entity names against sanctions, adverse news and politically exposed person lists from the applicable systems.
• Collect and corroborate KYC/AML related documentation wherever possible to perform required due diligence to meet Local Regulatory and DB policy requirements.
• Escalate due-diligence findings/suspicious activity to Senior Management and Compliance/AFC as applicable.
• Preparation of comprehensive account opening pack for Business/Compliance/AFC/SEO/BSM sign offs with the necessary onboarding assessments.
• Central point of contact for the Front Office and internal stakeholders (Documentation Unit, AFC/Compliance, Legal and Middle Office Operations) concerning client on-boarding queries and status updates until final client adoption/review locally and at the respective Booking Centres.
• Participate in Onboarding Team meetings to remain current and thorough on operational processes, services and Firm’s systems/applications as applicable in DB DIFC and Booking Centres.
• Maintain DB DIFC Client data base with required information.
• Ensure client document archiving is current and completed without extended overdue timelines.
• Ensure adequate support is rendered during regulatory and internal audits.
• Support any remediation or business related projects emanating locally or from the Booking Centre along with Business partners – Business Heads, Relationship Managers, On boarding Specialists, Service Assistants and ensure completion before stipulated deadlines.

Other Requirements

• Advanced MS Excel and analytical skills
• Finance and Accounting background - should be able to understand financial statements
• Has previously worked in Private Banks and supported New Client Onboarding/Periodic Reviews in Gulf regions with exposure to Singapore and Swiss Booking locations.
• Good communication skills
• Knowledge of DFSA Client Classification Requirements preferable
• Minimum education qualification - Graduate

Our values define the working environment we strive to create – diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation

• Responsible for end to end on-boarding new clients and periodic/event driven review of existing clients in a quality and timely manner.
• Liaise effectively with client-facing teams (local & Booking Centre); provide strategic guidance as needed around preparation of client documentation, account opening policies, processes and KYC/AML standards.
• Conduct due diligence with respect to new and existing relationships for the enforcement of controls associated with Know Your Client (KYC) governing documentation for various account types – individuals, legal entities and Anti Money Laundering (AML) regulatory requirements.
• Conducting research on new and existing clients, obtaining information from public sources, screening natural persons/entity names against sanctions, adverse news and politically exposed person lists from the applicable systems.
• Collect and corroborate KYC/AML related documentation wherever possible to perform required due diligence to meet Local Regulatory and DB policy requirements.
• Escalate due-diligence findings/suspicious activity to Senior Management and Compliance/AFC as applicable.
• Preparation of comprehensive account opening pack for Business/Compliance/AFC/SEO/BSM sign offs with the necessary onboarding assessments.
• Central point of contact for the Front Office and internal stakeholders (Documentation Unit, AFC/Compliance, Legal and Middle Office Operations) concerning client on-boarding queries and status updates until final client adoption/review locally and at the respective Booking Centres.
• Participate in Onboarding Team meetings to remain current and thorough on operational processes, services and Firm’s systems/applications as applicable in DB DIFC and Booking Centres.
• Maintain DB DIFC Client data base with required information.
• Ensure client document archiving is current and completed without extended overdue timelines.
• Ensure adequate support is rendered during regulatory and internal audits.
• Support any remediation or business related projects emanating locally or from the Booking Centre along with Business partners – Business Heads, Relationship Managers, On boarding Specialists, Service Assistants and ensure completion before stipulated deadlines