Job Description
Role & responsibilities
SECTION IV: KEY RESPONSIBILITIES & KPIS OF THE ROLE
These responsibilities are representative, and the role holder is also responsible for any other job assigned by the superior authorities from time to time. This section in not intended to be an exhaustive listing of all activities done by the role holder. It should capture only the key responsibilities of the role.
Responsibilities
Strategy and Planning
- Ensuring adherence to process and policy guidelines by EDD Officers.
- Submitting timely reports with the key findings and gaps.
- Engagement with relevant stakeholders to foster the collaborative environment and ensuring the redressal of observations.
Providing trends and patterns for key risk areas to supervisors
For effective risk mitigation
Policies, Processes & Procedures
- Early warning signals relating Portfolio Health.
- Competition benchmarking of the process for the product(s).
- Recommend changes to process based on field findings / local nuances / market feedback.
- Engaging with Third Party Vendors for timely processing of samples & any sort of process improvements.
- Providing training, capacity building and feedback to the line team and vendors.
Metrics that are used to evaluate the success / performance of the role; specific targets do not need to be included as those would change from
KPIs
1) EDD case quality and Compliance Rate: Case completion in full adherence to process and Policy of bank.
2) Turnaround Time (TAT) for EDD cases: Average time taken to complete EDD reviews within defined timeline.
3) Risk Efficacy: Ensuring that high risk cases are correctly identified and escalated for EDD.
4) Timely Reporting: Timeliness and quality of reports along with closure rate of Observations.
5) Stakeholder Engagement: Collaboration with multiple stakeholders for timely resolution of Issues.
6) Team Management and Development: Team Productivity, Capacity Building and Coaching of team members.
Metrics that are used to evaluate the success / performance of the role; specific targets do not need to be included as those would change from
KPIs
1) EDD case quality and Compliance Rate: Case completion in full adherence to process and Policy of bank.
2) Turnaround Time (TAT) for EDD cases: Average time taken to complete EDD reviews within defined timeline.
3) Risk Efficacy: Ensuring that high risk cases are correctly identified and escalated for EDD.
4) Timely Reporting: Timeliness and quality of reports along with closure rate of Observations.
5) Stakeholder Engagement: Collaboration with multiple stakeholders for timely resolution of Issues.
6) Team Management and Development: Team Productivity, Capacity Building and Coaching of team members.
Job specific bucket/s
- Customer Onboarding/KYC: Perform initial due diligence on new and existing customers, ensuring all necessary documentation is collected and verified.
- Verification: Verify customer identities (name, address, date of birth) using government-issued IDs, and identify Beneficial Ownership (UBO) for legal entities.
- Risk Assessment: Evaluate customer activities to determine potential risks to the organization, assigning risk ratings and identifying high-risk clients requiring Enhanced Due Diligence (EDD),
- Screening: Screen customers documents and profile and abnormalities to be picked up for further investigation and verification.
- Investigation and Documentation: Document all due diligence findings and research in the system to maintain audit trails for future references.
- Customer coordination: Callout the customer to understand the actual profile and to ensure a through EDD and collect the requisite documents from customer wherever required.
- Vendor Coordination: Officer may be required to coordinate with vendors for report etc.
- Stakeholder Coordination: Alerts to be raised to branches and monitor them for closure within defined TAT.
- MIS: Tracker of all the cases to be maintained and shared with management for review.
People Management
- Maintaining and reviewing monthly performance of the team members.
- Ability to work effectively with diverse populations.
- Ability to supervise and train employees, to include organizing, prioritizing, and scheduling work assignments.
- Grooming team members for taking higher responsibility.
- Managing effective liaisoning with all stakeholders on a regular basis.
- Driving, participating in projects/ initiatives aligning with organizational goals.
SECTION V: OPERATING NETWORK
Key interactions which are essential to execute the role. This will include both internal (excluding sub-ordinates) and external stakeholders.
Internal
Transaction Monitoring Team, Liability Product Management (LPM), Branch Control Unit (BCU), Central Data Analysis Group (CDAG), Technology Team, Branch Leadership
External
Customers, Service Providers/ Vendors
Preferred candidate profile
Candidates who are willing to follow procedure set in such as
- Rotational shifts
- A 7day work week with compensatory off, and
- Mandatory placement of personal phones in lockers