KYC Periodic Review

1 week ago

Jersey City, United States Sumitomo Mitsui Banking Corporation Full time $120,000 - $160,000

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.


In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.


The anticipated salary range for this role is between $120,000.00 and $160,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

Within the Compliance Department, the Know Your Customer (KYC) Vice President (VP) is responsible for leading and managing various processes within KYC including, but not limited to, CIP, CDD, EDD, periodic reviews, special projects, and being a subject matter expert and assisting the Director of Production with day-to-day operational processes and reporting within KYC.

Role Objectives

Reporting to KYC Director of Production, the KYC VP may perform specialized tasks, routine operational day-to-day actions, and/or assist the KYC Director in directing day-to-day work of KYC team. Subject matter expert in the department and possibly across other functions. Reviews work of KYC analysts, resolves complex matters; escalates as appropriate. May have a formal or informal management role by supervising and/or training others. Works closely with KYC Director to recommend improvements to policies and procedures, processes, and workflows.
Number of direct reports: up to 12.


  • Ensures operational efficiencies and customer data integrity in accordance with internal policies and procedures of SMBC and Head Office and compliance with AML/BSA/OFAC regulations.
  • Works closely with Analysts to identify needs for training, performance gaps, project process improvements and provides recommendations to management.
  • Ensures adherence to the SMBC KYC Program; supports industry-mandated changes or system changes by participating in the change process; recommends changes through compliance with bank policies.
  • Activities of the KYC team are governed by SMBC’s Policies and Procedures. The KYC VP assists the KYC Director as assigned to ensure that the following are adhered to by all employees within the KYC Team:
  • ensures that CIP information and mandatory DD/EDD information is refreshed during Periodic Review.
  • collects from the RM and reviewing, for adequacy and accuracy, all required KYC information and documentation within prescribed time frame.
  • confirms that verification documents are obtained by the RM and work performed by KYC are completed within a prescribed time frame.
  • conducts background checks (i.e., OFAC, politically exposed persons, 311 and adverse information checks),
  • maintains evidence of search results in the KYC system and escalating to the BSA Officer any confirmed or suspected name matches associated with material negative information.
  • Troubleshoots routine and some complex issues with KYC/CIF system and various subsystems to resolution.
  • Performs spot check quality control reviews for their teams’ updates made to existing customer records. Also tracks deficiencies to enhance procedural standards and takes initiatives to suggest, plan and implement changes.
Qualifications and Skills
  • Advanced technical knowledge of AML, Bank Secrecy Act, Foreign Assets Control.
  • Advanced strong level knowledge of KYC process and regulations.
  • Very strong knowledge of banking policies, statutory and compliance regulations.
  • Very strong knowledge of market practices related to compliance operations.
  • Good judgement, sense of urgency and accountability; time- management skills.
  • Ability to supervise and train others.
  • Strong ability to execute in a high-pressure environment.
  • Strong interpersonal skills.
  • Strong written and verbal communication skills
Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.


We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.

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