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Commercial Banking-Anti-Money Laundering (AML)/Know Your Customer (KYC) – Quality Review-

Req #: 170110376
Location: Chicago, IL, US
Job Category: Operations
Potential Referral Amount: 0 US Dollar (USD)
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. JPMorgan Chase & committed to providing a comprehensive set of benefits choices to meet different employee needs and lifestyles, which include choices such as Flexible Work Arrangements with periodic work from home and non-standard business hours, fully paid parental leave time, health care insurance and retirement benefits.
Commercial Banking serves more than 30,000 clients, including corporations, municipalities, financial institutions, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion. The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.
The AML/KYC National Program Office partners across the Commercial Banking organization to ensure strong governance and consistent execution of the firm’s AML/KYC global standards.  The AML/KYC Quality Review Vice President (VP) is responsible for quality and soundness review of approved KYC records to ensure the firm’s KYC standards and requirements have been satisfied. This includes a robust description and understanding of the client’s business, ownership, product usage and transactional activity along with any other specific AML/KYC records identified and how the risk is mitigated.  The VP ensures that any findings from the review are clearly communicated and the record is updated appropriately.
Core Responsibilities:
  • Develop a strong knowledge of the firm’s AML/KYC requirements; ability to apply firm’s standards to AML quality assessments.
  • Ability to independently assess AML quality associated with approved KYC record.  Clearly articulates key findings to banking teams and KYC Officers.
  • Identifies gaps in quality assessments and coaches banking teams and KYC Officers to address areas of improvement for future assessments.  Constantly seeks to educate banking teams of AML quality assessment best practices.
  • Partners closely with AML/KYC Quality Review Executive Director to escalate unmitigated red flags according to established escalation protocols
  • Provides AML subject matter expertise to banking teams and KYC Officers.
  • BA/BS Degree
  • Knowledgeable of the various AML/KYC risks associate with Wholesale products and services. Minimum of 5 years commercial banking or equivalent business experience.
  • Strong critical thinking skills in order to assess disparate information to determine if an overall client profile is reasonable
  • Ability to execute sound qualitative and quantitative analysis and draw salient conclusions
  • Strong communication and negotiation skills; ability to independently present findings in a concise manner; clearly articulate reasoning
  • Deep understanding of how businesses operate and use Wholesale Banking products and services; ability to assess if client Wholesale product usage is appropriate for the business
  • Strong control focus to ensure output meets regulatory requirements
  • Ability to operate in a fast paced environment, managing multiple tasks, while maintaining a quality focus
Preferred Qualifications Minimum Experience Required
  • Strong influencing and negotiation skills  
  • Background in at least one of the following areas is required, and preferred for two:  AML/KYC compliance, Credit Risk, Banking, or Treasury Products
  • ACAMS certification is a plus and would be required within 2 years
  • Ability to review documentation and provide executive summary overviews and trending analysis for internal audiences
This position will be based in Chicago
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