Overview of business area or project:
The key responsibility of the Source of Wealth (SoW) Team is to support the front office to write and review the client’s source of wealth to ensure plausibility and to check for appropriate level of corroboration and evidence to identify the client’s original source of funds and wealth growth.
- You will be responsible for performing plausibility checks on the SoW write up in accordance with the APAC SoW guidelines.
- You will be required to review information from multiple sources to ensure complete and consistent information across the client profile
- To follow up with the relationship managers where additional information or clarifications are required and support them by ensuring the final write up meets the internal requirements
- You will accurately record the source of wealth information, and your assessment of the plausibility, with the supporting documents into the template and archive within the system
- You will provide transparency and oversight to senior management to ensure cases are reviewed and completed in a timely manner and any issues are identified early.
Desired Skills and Qualifications:
- Relevant experience in the banking industry and KYC knowledge in SoW is required.
- A critical mindset and strong analytical skills – ability to understand complex information and to apply logical reasoning to assessment if that information makes sense
- Fast learner – the ability to pick up new information quickly and assimilate information from multiple sources
- Effective communication and stakeholder-management skills, particularly in the ability to liaise with relationship manager and compliance
- Strong attention to details to ensure that all items are accurately recorded for a robust audit trail
- Good organizational and time management skills, including the ability to prioritize tasks
- Private Banking background is an advantage
- Knowledge of MAS and HKMA regulations is desirable.