Onboarding clients has become a specialized function within a business. The depth of knowledge required to comply with the Regulator and all the requirements has become immense, especially around the onboarding of entities.

  • Understand all the various types of structures and entities
  • Have complete full insight to be able to analyze these structures to identify the UBO / warm body depth of where to end the investigation etc.
  • Make firm decisions based on the knowledge/ experience,

Existing processes need to be evaluated and the needs for system development need to be identified with the view to automate as much as possible. Process engineering is therefore key. Training and upskilling of the existing team just as important.

The responsibility of this role is to ensure the organization follows procedures and processes to collect information about all individuals with significant ownership or control at the time of onboarding or new business relationship. UBO is part of the KYC-KYB process, where this position will need to define the need to collect, store, update, and file the information correctly and completely with the Beneficial Ownership Register or other Register in their jurisdiction.
In other words:

  • Implement Customer Due Diligence that includes ‘beneficial ownership information.
  • Implement an AML/CFT program with UBO Screening.
  • Maintenance of a Register with ownership information.
  • Enhanced due diligence based on risk assessment & country risks
  • Transactions of UBOs to be monitored, and reported for suspicious transactions or behaviour.

Qualifications and Experience:

  • Relevant tertiary qualification (Law preferably)
  • Legal background/understanding around specifically entities
  • Project management courses and experience (advantageous)
  • In-depth knowledge of the following:
  • FICA
  • RMCP policy
  • Onboarding
  • AML and Risk rating
  • Structures and ability to look through the structures Entities
  • Identifying warm body/ UBO’s
  • Ability to look through FATCA and CRS, Offshore jurisdictions and entities, Different jurisdictions

Desired Skills:

  • RMCP Policy
  • CRS
  • Compliance Management
  • Compliance Monitoring Management

Desired Qualification Level:

  • Degree

Employer & Job Benefits:

  • Corporate Benefits
  • Bonus structure

Learn more/Apply for this position