Due Diligence Associate with Wells Fargo (Hyderabad)

Deadline Open Deadline

Location Hyderabad, Telangana.

Salary Compensation details will be finalized during the interview process with the selected candidate.

Details of the Organization

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.

Details of the Job/Internship

Wells Fargo is looking for a candidate for the position of Due Diligence Associate with 6+ months of Due Diligence experience and 3+ years of experience in risk (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk) to join them at their office in Hyderabad.

Role and Responsibilities

Engage with clients directly or indirectly through relationship managers to support meeting policies or regulatory requirements and focus on client satisfaction.
Conduct comprehensive research and background investigations on transactions, individuals, entities, organizations or locations to identify and mitigate risks through documenting findings.
Review basic issues, policies or procedures for which answers can be quickly obtained related to lower risk tasks and deliverables with narrower impact.
Run periodic due diligence reporting supporting processes reflective of the current business environment.
Gather and input data utilizing resources to identify documentation required to meet policy or regulatory requirements.
Receive direction from supervisor and exercise judgment while developing understanding of function, policies, procedures, and compliance requirements.
Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals.

Eligibility

6+ months of Due Diligence experience, or equivalent (including risk management, client service, operations support, or business process management) demonstrated through one or a combination of the following: work experience, training, military experience, education.
Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate degree of complexity and risk to determine appropriateness for Wells Fargo.
Conducts comprehensive research and/or background investigations on individuals, entities, organizations or locations to identify and mitigate associated sanctions, credit, financial crime, and reputational risks and thoroughly documenting findings.
Reviews and analyzes due diligence data from a variety of sources to determine overall risk.
Screens customers, prospects and/or transactions against various regulatory reporting lists and regionally based sanctions watch lists.
Evaluates risks to determine permissibility under sanctions, regulations and/or BSA/AML regulations. Works with high risk customers (e.g. casinos, MSBs, payment processors) to understand controls and activities. Provides appropriate direction to the line of business. Escalates confirmed sanctions alerts, PEP matches and other risks appropriately.
Performs non-documentary Customer Identification Program on domestic customers in accordance with regulations and bank policy.
Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act and various sanctions regulations, and in accordance with policy/procedures set by the bank.
Prepares and submits regulatory reporting and requests. Consults with peers, line of business managers and other external parties regarding due diligence findings. Participates in moderate to complex project initiatives as the primary subject matter expert
Develops/delivers procedures or training; or mentors Associates with less experience. Effectively manages work requests to meet performance expectations.
3+ years of experience in risk (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk) and a University degree in Business or related discipline
Ability to take initiative and work independently with minimal supervision in a structured environment
Ability to research, analyze, and determine a course of action for financial transactions.
Knowledge and understanding of regulatory compliance requirements surrounding USA PATRIOT Act and Anti Money Laundering (AML) requirements.
Basic Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
Ability to provide strong customer service and develop customer relationships.
Subject matter expert and Training skills.
Strong organizational and time management skills with the ability to manage multiple responsibilities and tasks simultaneously.