MUFG Union Bank Vice President, Quality Control Team Lead in United States
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The Client On-Boarding team is part of the Client Management Services, which is situated within the Corporate and Investment Banking Division of MUFG Bank. However, this function acts as a centralized 1st line support team, providing support to Investment Banking and Corporate Banking in EMEA, Capital Markets and MUFG Securities both in London and in Amsterdam.
MAIN PURPOSE OF THE ROLE
This individual will be responsible for the management and oversight for all Quality Control (QC) assessment across new on-boarding, Periodic Reviews and Event Driven Reviews – including KYC and Regulatory Classifications. Conducting Quality Control assessments and the line management of circa. 4 Quality Control specialists. The Client On-Boarding Team covers a highly varied portfolio of Circa. 6,000 entities – ranging from simple listed customers, to much more complex structures, entities and product offerings, as such it will be key for this individual to fully understand all customers and to design an effective Quality Control programme – identifying and escalating risks appropriately.
This function is critical during both on-boarding and other reviews to ensure that the KYC process effectively mitigates the risks of Money Laundering, Bribery and Corruption, reputational and any other associate risks. With this in mind, the successful individual needs to have extensive experience within KYC, and a demonstrable strong knowledge of the AML/KYC environment.
Key stakeholders in this role are; Operational KYC counterparts, QA Counterparts, Financial Crime (2nd line of Defense), Senior management, Front Office RM/Trader/Account Officers and Audit. This individual will be the key representative and focal point in the team for all quality and KYC procedural subjects. Working closely with stakeholders to both standardize and clarify requirements and proactively identify future issues with procedures/process. Driving forward and influencing change is therefore essential in this role.
This function will also be responsible for the development and roll out of a suite of training (related to requirements / roles and responsibilities) for new and existing individuals within the team and for those within the various front office functions, where required. Working closely with individuals to improve the understanding of both the process and the underlying rationale for requirements.
This role is a management role, and consists of direct line management of circa 4 FTE. Strategic planning and the development of these individual will be a key aspect of this role.
In this role, you will be responsible for Quality Control Assessments across MUFG’s banking arm and securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the bank and the securities business, subject to the same remit and level of authority, and irrespective of the entity which employs you.
Management / Oversight of all Quality Control Assessments being conducted – ensuring the QC team hold appropriate knowledge/ability and work is assigned appropriately, utilizing expertise effectively. Raising issues and ensuring appropriate actions are undertaken before KYC approval.
Ensure that thorough & effective Customer Due Diligence is completed, by conduct Quality Control Assessments on entities/structures across all business lines (predominantly the complex structure/entities/product offerings) – including New Business, Periodic Reviews and Event Driven Reviews. Raising issues and ensuring appropriate actions are undertaken before KYC approval.
Identifying thematic issues within the On-Boarding process, liaising with operational Leads to resolve and implement change.
Liaising with Quality Assurance on any issues identified within the QA process, to consider impact and where needed make relevant changes to the QC process. In addition, where remedial action is required – liaising and notifying the operational leads accordingly.
Liaising with Financial Crime KYC team on any issues identified within the 2nd line checks / testing, to consider impact and where needed make relevant changes to the QC process. In addition, where remedial action is required – liaising and notifying the operational leads accordingly.
Working with 2nd Line and Operational leads to understand, challenge and implement any changes to procedures.
Development of a suite of Training for New & Existing Team members on all KYC/On-Boarding procedural related aspects.
Deliver training where required to front office representatives on KYC/On-Boarding procedural related aspects.
Deliver and support lean processes, establishing KPI, and SLAs to deliver effective and efficient KYC process.
Training and Development of more junior members of the team, this role has circa. 4 direct reports line and their performance, training and development will be a responsibility of this individual.
Act as a Subject Matter Expert in relation to all AML On-Boarding aspects, assisting on ad-hoc queries where required. In addition the individual will be required to represent the team and potentially the division/bank to key stakeholders on these matters.
Support the Head of On-Boarding, producing relevant reports to key counterparties, identifying and resolving Anti Money Laundering issues, and providing support/guidance to more junior members of the team.
Keep abreast of developments in current trends and progress on money laundering, bribery and corruption and it prevention.
- Circa. 4 direct reports
SKILLS AND EXPERIENCE
Functional / Technical Competencies:
Awareness of UK & European Anti-Money Laundering regulations [ESSENTIAL]
Knowledge of various corporate structures [ESSENTIAL]
Able to communicate effectively to key stakeholders at all levels. [ESSENTIAL]
Attention to detail is essential [ESSENTIAL]
Ability to effectively utilize Microsoft Office (particularly word & excel). [ESSENTIAL]
At least 5 years’ experience in Anti Money Laundering, fraud and bribery or Financial Crime roles [ESSENTIAL]
Experience with Investment Banking & the On-Boarding of Corporate entities (Inc. Private Companies and SPVs) [ESSENTIAL]
Experience of managing a KYC team or function. [BENEFICIAL]
Education / Qualifications:
Degree Level or relevant industry experience [ESSENTIAL]
Relevant qualifications in Anti Money Laundering, fraud and bribery or Financial Crime roles. [BENEFICIAL]
Excellent communication skills
Results driven, with a strong sense of accountability
A proactive, motivated approach.
The ability to operate with urgency and prioritize work accordingly
Strong decision making skills, the ability to demonstrate sound judgement
A structured and logical approach to work
Strong problem solving skills
A creative and innovative approach to work
Excellent interpersonal skills
The ability to manage large workloads and tight deadlines
Excellent attention to detail and accuracy
A calm approach, with the ability to perform well in a pressurized environment
Strong numerical skills
Excellent Microsoft Office skills
A confident approach, with the ability to provide clear direction to more junior members to the team
A strategic approach, with the ability to lead and motivate more junior members of the team
We are open to considering flexible working requests in line with organisational requirements.
MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.
We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.
At MUFG, our colleagues are our greatest assets. Our Culture Principles provide a roadmap for how each of our colleagues must think and act to become more client-obsessed, inclusive and innovative. They reflect who we are, who we want to be and what we expect from one another. We are excited to see you take the next step in exploring a career with us and encourage you to spend more time reviewing them!
Our Culture Principles
Listen Up. Speak Up.
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