J.P. Morgan Asset Management, with client assets of $2.4 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.
Global Wealth Management (GWM) is part of the Asset & Wealth Management business segment. It has offered for over 160 years customized solutions and client service of the highest quality to solve the complex needs of wealthy individuals and their families around the world. With assets under management of $1.25 trillion, it is one of the largest asset and wealth managers in the world.
Introduction to Role
The global focus on Anti Money Laundering (AML) and Know Your Client (KYC) is increasing and leading to new roles and opportunities within JP Morgan. GWM is establishing a market-leading function to help manage the regulatory risks involved in Onboarding clients with special attention to meeting the regulatory AML and KYC requirements. This is a great opportunity for the right individuals to work in a fast paced dynamic team and to help identify and establish best practices within JP Morgan and the industry.
The AML / KYC Client Onboarding Officer will be part of the global Middle Office Operations team supporting all aspects of client Onboarding to include the fulfilment of Anti Money Laundering (AML) and Know Your Client (KYC) requirements. The primary function of the AML / KYC Client Onboarding Officer is to partner with the client-facing teams to collect information to ensure all client KYC records are compliant with regulatory standard and submit them accurately and timely according to the established SLA’s. The AML / KYC Client Onboarding Officer will own the end to end onboarding of new clients and subsequent periodic renewal process of all clients. They will also assist with the drafting and gathering of client documents and make independent recommendations regarding AML risk at a client level prior to final review by the client-facing team. Officers will be expected to stay current with all regulatory changes and requirements around client KYC, Suitability and Documentation
As needed, this position will flex between Onboarding Officer responsibilities and driving key business initiatives through analysis of large data sets, monitoring/reporting progress, producing presentations, and creating communications.
• A strong sense of ownership, responsibility and sense of urgency
• Drives results through leadership, people, communication and influence
• Comfortable with change, ambiguity, debate, conflict and informed risk taking
• Multi-tasker who can manage multiple streams of work concurrently with competing deadlines
•Tech savvy with expertise in Microsoft applications such as Excel, Visio, PowerPoint, and SharePoint
• Partner with the client facing teams to gather, manipulate and input required AML/KYC information to meet all regulatory and internal polices
• Complete required KYC submissions to meet production capacity while maintaining low error rates
Act as a subject matter expert on required legal documents and process to onboard and/or renew client to PB platforms
• Ensure KYC information is accurate and will meet Quality Standards of clients’ KYC records prior to submission
• Manage and facilitate client due diligence, including coordinating the participation of JPMorgan stakeholders who have KYC responsibilities
• Serve as point of contact for KYC and reporting issues for designated clients
• Act as a KYC and AML subject matter resource for KYC due diligence teams
• Act as a subject matter resource on the KYC/AML policies and procedures
• May participate in annual AML discussions directly with clients
• Discuss and escalate with Compliance complex issues surrounding client types and structures, financial products and services, and other AML risk-related issues