Due Diligence Officer

ProvidusBank is an innovative financial institution that provides personal, private, corporate, commercial, and digital banking products and solutions. Our tailored financial services delivery includes Business Advisory, Portfolio Management, Personalized Relationship Management, Fast-tracked Service delivery and Self-service solutions.

We support our staff to achieve their objectives. We believe that we are making progress when our customers, colleagues, and community progress. Our Core Values of Integrity & Excellence are fundamental to how we interact with our stakeholders and colleagues, and we genuinely believe in these.

We believe that we provide an opportunity for a rewarding career and are looking for people who believe they can contribute positively towards our goal.

JOB TITLE: Due Diligence Officer

REPORTING LINE: Chief Compliance Officer

JOB OBJECTIVE:

Ensuring the maintenance of a robust control environment across the bank by monitoring the implementation of compliance controls and processes on Customer Due diligence.

ROLES & RESPONSIBILITIES:

• Conduct Level One due diligence on FCY transactions and review the customer's documentation for establishing relationships, to protect the Bank from being exposed to Money Laundering and Terrorism financing risk.
• Maintain and update the dashboard of due diligence conducted on FCY transactions and provide analysis to the Head, of Business Compliance for the generation of the good guy list.
• Review KYC details on emerging businesses and Financial Institution customers.
• Identify potential high-risk customers and review KYC details, including analysis of account activity.
• Monitor the KYC/CDD status of High-risk customers and businesses and follow up with the relationship officer for regularization.
• Maintain and update the dashboard of High-Risk customers and businesses Review and check (potential) clients on international financial sanctions lists.
• Thoroughly and professionally document narratives describing customer information obtained during KYC/CC review and maintain a database of the review conducted
• Support the business compliance team in Conducting Compliance Audits of SBUs and departments.
• Carry out environmental scanning on regulatory websites for compliance events and interprets updates on regulations from the pronouncement of relevant Regulators’ by analyzing newly released regulatory circulars/letters
• Ensure customers’ KYC requests by the compliance Business team are retrieved from the respective branches.
• Completing in-depth Internet research, including negative news searches; and determining, based on account activity, if the account is transacting as expected for the entity type.
• Communicate effectively and efficiently with account officers, relationship managers, and business lines to obtain needed customer due diligence or enhanced due diligence information.
• Assist and contribute to the preparation of departmental weekly, monthly, quarterly, and annual reports.

KNOWLEDGE REQUIRED

• Understanding of risk & regulatory requirements
• Banking assets & liabilities management (BALM)
• Knowledge and use of technology-based tools for controls and data security compliance
• Knowledge of Internal Audit, Internal control, and compliance

SKILLS REQUIRED

• Independence & Objectivity
• Attention to detail
• Communication
• Conflict resolution
• Planning & organization
• Numeracy
• Problem-solving

QUALIFICATION

Minimum of bachelor’s degree in accounting, business administration, finance, Economics, or related discipline

Professional Compliance Certification (CAMS, CRCMP AND DCP) is preferred.

EXPERIENCE

Minimum of 3 years relevant work experience and extensive knowledge of Bank regulations and guidelines.

Interested in this role? Click Apply to submit your application.