KYC Remediation Officer
ABSA Bank Tanzania
September, 2023
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With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future, and to shape our destiny as a proudly African group.
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Job Summary
The KYC Remediation Officer is responsible for conducting thorough reviews and remediation of existing client files to ensure compliance with Know Your Customer (KYC) regulatory and internal policy requirements. This role involves analyzing client information, identifying discrepancies or missing information, and working closely with various stakeholders to obtain and update the necessary documentation.
Job Description
ACCOUNTABILITY:
- Conduct a comprehensive review of the client's existing files to identify any gaps, inconsistencies, or missing information related to KYC requirements.
- Conduct due diligence and verification of client identities, backgrounds, and financial activities to ensure compliance with regulatory requirements, internal policies, processes, and standards.
- Communicate the information requirement to clients through agreed-upon channels. i.e., emails, etc.
- Collaborate with clients and internal teams to obtain and update necessary documentation, such as identification, proof of address, source of funds, and any other related KYC information.
- Utilize various tools and systems to analyze client KYC information, identify patterns, and detect potential risks or suspicious activities.
- Work closely with relationship managers, compliance teams, and other stakeholders to resolve any issues or discrepancies found during the remediation process.
- Identify opportunities to enhance and streamline the KYC remediation process, suggesting improvements to existing workflows, systems, and procedures.
- Achieve the required volume of work within the established deadlines and service standards.
- Adhere to quality control discipline, procedures, and checks at all times.
- Report issues and concerns as soon as possible to the team manager in time and with complete information, in which effort is made to prevent or limit possible damage.
- Assist the team manager in the administration of the section, including organizing workflow, queue management, and query resolution.
- To escalate to the supervisor any issue or risk within the stipulated turnaround time.
- Undertake regular and ad-hoc requests as requested and be accountable for the information provided.
- Be responsible for delivering SLAs.
Risk and Control Objectives
- Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture.
- Understanding of your role in the end-to-end processes in which you play a part, including applicable risks and controls
- Adhere to Absa’s policies and procedures applicable to your role, demonstrating sound judgment and responsible risk management.
- Report all risk events, incidents, and issues using the defined process for your business area and help to understand why these happened and how to prevent them in the future.
- Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
- Continuous and proactive engagement with regulatory bodies, where applicable
- All mandatory training must be completed timely before the deadline.
Technical skills and competencies
- Sound communication skills
- Excellent attention to details
- Basic computer skills such as Microsoft Office (Word, Excel, PowerPoint, etc.)
- At least a university degree or equivalent in related fields.
Knowledge, expertise, and experience
Essential
- Good communication skills, both oral and written.
- has good interpersonal skills and is a team player.
- Ability to build and maintain relationships both within the team and with stakeholders.
- Focus on achieving team objectives.
- Ability to work in an efficient and organized way.
- Deadline Driven
- Data privacy
- Ability to work independently with minimal supervision
- Commitment and the ability to work under pressure.
- Ability to handle bitter, upset, and angry customers.
Preferred
- Customer service experience
- Intermediate to advanced computer skills
Financial crime proficiency
Absa Values
Absa’s values and behaviors represent the set of standards that govern the actions of all of us who work for the bank and against which the performance of every one of us in Absa is being assessed and rewarded:
- I drive high performance to achieve sustainable results.
- I’m obsessed with customers.
- I have an African heartbeat.
- I believe our people are our strengths.
Education
Further Education and Training Certificate (FETC): Business, Commerce, and Management Studies (required)
