KYC Associate I Details

KYC Associate I

Silicon Valley Bank - Tempe, AZ

Employment Type : Full-Time

BE PART OF A BANK LIKE NO OTHER. When you work with the world's most innovative companies, you know you're making a difference. Our clients are the game changers, leaders and investors who fuel the global innovation economy. They're the businesses behind the next medical breakthroughs. And the visionaries whose new technologies could transform the way people live and work. They come to SVB for our expertise, deep network and nearly forty years of experience in the industries we serve, and to partner with diverse teams of passionate, enterprising SVBers, dedicated to an inclusive approach to helping them grow and succeed at every stage of their business. Join us at SVB and be part of bringing our clients' world-changing ideas to life. At SVB, we have the opportunity to grow and collectively make an impact by supporting the innovative clients and communities SVB serves. We pride ourselves in having both a diverse client roster and an equally diverse and inclusive organization. And we work diligently to encourage all with different ways of thinking, different ways of working, and especially those traditionally underrepresented in technology and financial services, to apply. Job Description Summary/Objective This client-facing role will be accountable for all client outreach for Know Your Customer “KYC” information to satisfy regulatory requirements, serving clients across Technology, Life Science, Wine & Global Fund Banking. This is a First Line of Defense “FLOD” function, partnering closed with Second Line of Defense “SLOD”. Preferred candidate will be based in Tempe, Salt Lake City or Texas. Under the supervision of the KYC Manager, this individual will be responsible for the following essential functions: Own KYC tasks necessary to onboard new clients (20%)

• In partnership with Relationship Manager and Relationship Advisors, gathers KYC information required to onboard new clients and new entities
• Communicates to clients KYC requirements; tracks receipt of required data and/or documents; reviews received data / documents to ensure information shared meets regulatory requirements
• Serves as escalation point for internal teams and clients to resolve outstanding KYC questions & inquiries
• Passes client KYC information to KYC Analyst teams to so that client information is memorialized in client KYC record
• Works with client to gain access to additional client data (where necessary) to confirm client identity

Keep client KYC information current (40%)

• Partners with KYC & Relationship Management teams to identify what information is available in the Bank prior to making client outreach
• When information not already shared by client with SVB, contacts client when Bank requires client to provide updated KYC information
• Communicates to clients KYC requirements; tracks receipt of required data and/or documents; reviews received data / documents to ensure information shared meets regulatory requirements
• Works with client to address inquiries relative to information / documentation needed
• Ensures information is gathered and submitted to KYC Analyst team within expected timeframes

Own KYC tasks related to KYC remediation efforts (30%)

• When regulatory and/or Bank KYC requirements change, works to size impact to client
• Partners with KYC & Relationship Management teams to identify what information is available in the Bank prior to making client outreach
• When information not already shared by client with SVB, contacts client to gather required information to satisfy new requirement
• Tracks receipt of required data and/or documents; reviews received data / documents to ensure information shared meets regulatory requirements
• Works with client to address inquiries relative to information / documentation needed
• Ensures information is gathered and submitted to KYC Analyst team within expected timeframes

Build critical partnerships (10%)

• As this role sits in FLOD, it will be critical that this individual build solid relationships across FLOD and SLOD to include partnerships with:
  • FLOD Relationship Management teams, ensuring close alignment with RMs & RAs when engaging with clients
  • SLOD KYC Teams, ensuring consistent follow-up and communication on KYC tasks

Decisions

• Reviews client information received and decisions if data and/or documentation satisfies KYC requirement

Knowledge

• Demonstrate baseline knowledge of financial crimes risks and the prevention and mitigation processes and controls
• Good understanding of regulatory requirements that apply to the financial services sector and banking operations

Skills

• The individual will need the ability to work independently, take initiative and have strong verbal and written communication skills
• Good time management and attention to detail are critical to this position
• Good analytical, research, organizational, and project management skills; strong individual contributor with the ability to work effectively as a team
• Flexibility in learning new topics, handling change and deadlines

Required Education and Experience

• Minimum of 2 – 3 years of banking, risk management, compliance or client service experience

Preferred Education and Experience

• Preferred Bachelor’s degree in Business Administration, Accounting, Finance or equivalent

Certifications None Travel Minimal travel expected; less than 5% of time Physical Demands The employee must have the ability to use a computer keyboard, mouse, calculator, copier/fax machine, scanner and telephone. While performing the duties of this job, the employee is regularly required to talk and hear. Employee must have close visual acuity to perform an activity such as: reviewing and analyzing information; transcribing; and/or viewing a computer screen. Employee may be required to make quick decisions as to when to escalate or directly address a situation, as well as handle the stress of such situations. The work environment is indoors with a majority of time spent sitting at a desk. Disclaimer The information contained herein is not intended to be an all-inclusive list of the duties and responsibilities of the job, nor are they intended to be an all-inclusive list of the skills and abilities required to do the job. This job description is intended to indicate the general nature and level of work to be performed. Duties, responsibilities and activities may change at any time with or without notice. This job description does not constitute a contract of employment and, therefore, the company may exercise its employment-at-will rights at any time. © 2021 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). Equal Employment Opportunity Silicon Valley Bank is an equal opportunity employer and is dedicated to expanding its commitments and investments to create a more diverse, equitable and inclusive company culture and innovation ecosystem. We are strongly committed to the values and policy of equal employment opportunity across our employment practices. Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.