KYC Associate, SVB Private #Remote
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 This role will be accountable for all client outreach and Know Your Customer “KYC” information to satisfy regulatory requirements within the Private Banking and Wealth Management (“PBWM”) segment. This is a First Line of Defense “FLOD” function, partnering closed with Second Line of Defense “SLOD”. This individual will manage a portfolio of clients with a high level of complexity, managing all client outreach for KYC tasks. Preferred candidate will be based in Boston or San Francisco; willing to consider Tempe as a third location. Under the supervision of the KYC Director, this individual will be responsible for the following essential functions: Own KYC tasks necessary to onboard new clients within assigned portfolio: - For assigned portfolio, 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 SLOD KYC 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 within assigned portfolio: - For assigned portfolio, manages KYC pipeline, coordinating client outreach at a relationship level to minimize multiple client touch points
- 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 SLOD KYC Analyst team within expected timeframes
Own KYC tasks related to KYC remediation efforts for assigned portfolio: - When regulatory and/or Bank KYC requirements change, works to size impact to clients within assigned portfolio
- Partners with KYC & Relationship Management teams on set frequency to review pipeline, assessing client impact and agree upon outreach approach
- 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: - 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 within assigned portfolio
- 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
- Determines client outreach approach with the intent to minimize multiple client touch points while ensuring adherence to SVB and regulatory deadlines
Recommendations - Leads more complex new client onboarding discussions
- Presents clients with suggestions for which to update KYC information in given year
- Presents clients with suggestions to improve their internal risk & controls to combat against money laundering
Knowledge: - Demonstrate robust knowledge of financial crimes risks and the prevention and mitigation processes and controls
- Solid understanding of regulatory requirements that apply to the financial services sector and banking operations
Skills: - The individual will need the ability work independently, make client recommendations and have strong verbal and written communication skills
- Experienced relationship management skills
- This individual will mentor junior KYC staff to help team manage volume, client conversations, etc.
- 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
Competencies: - Problem solving
- Analytical
- Influence
- Attention to detail
- Initiative
- Communication Proficiency
- Listening
- Accountability
- Teamwork/Collaboration
Required Education and Experience: - Minimum of 2 years of banking, risk management, compliance or client service experience
- Bachelor’s degree in Business Administration, Accounting, Finance or equivalent
- Prior work experience in KYC / AML arena
- Deep knowledge of commercial banking and cash management products
- Prior experience managing client relationships with a high level of complexity
- Location: must be located within 60 miles of an SVB office
#LI-Remote #LI-Hybrid © 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.