Wealth Management, Onboarding Officer, Vice President

  • Competitive
  • Singapore
  • Permanent, Full time
  • J.P. Morgan
  • 26 May 19

Wealth Management, Onboarding Officer, Vice President

Introduction to Role


The Onboarding Officer (OO) coordinates the effective completion of each assigned case, and is the single point of contact for Front Office staff where there is a query on status


Job Description

The 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 Client Onboarding Officer will partner with the client-facing teams to ensure all client KYC records are compliant with regulatory standards, and will ensure high quality and timely completion of all client-level due diligence requirements at the onset and renewal of client relationships. The Client Onboarding Officer will own the end to end Onboarding of new clients and subsequent periodic renewal process of all clients. The Client Onboarding Officer will 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. The Client Onboarding Specialists are expected to stay current with all regulatory changes and requirements around client KYC, Suitability and Documentation.

Key Responsibilities

  • Responsible for ensuring that process outputs for its 'Pod' are of high quality, in line with internal quality standards; escalating any issues to New Account Opening Team Lead
  • Provides direction, oversight , advice and guidance to team members within own area of responsibility to create and foster an environment of continuous improvement
  • Escalation point for issues and face off to key stakeholders
  • Develop and produces critical metrics and reporting which provide data related to department performance, risk quantification and stratification and resource capacity limitations
  • Trains and develops talent, provide SME / technical support (including training) to the OO; identify knowledge gaps and work with Team Lead - OO to conduct training sessions to drive high quality output
  • Act as role model in relation to driving high quality outputs
  • Responsible for coordinating the effective completion of each assigned case from initiation to completion; following up with teams responsible for completing sub-activities across the end to end New Account Opening process
  • Act as primary interface for Bankers; responsible for managing expectations and enhancing the client experience
  • Communicates in a clear transparent way and articulates on-boarding requirements and time commitments to the banker
  • Set and manage the priority of all on-boarding requests through ongoing engagement with business, whilst proactively managing the on-boarding pipeline throughout all stages of the process
  • Drives effective issue resolution within boundaries of policy, ensuring cases are completed in line with defined service level agreements
  • Single point of contact to facilitate all queries for that case, including issues around PEP, screening, regulatory, compliance, legal, operational risk, account opening
  • Undertake Client due diligence on a timely basis and ensure they are performed to meet the required quality and detail standards as required by Policy & Procedures
  • Analyze AML risks associated with the client from a technical perspective, identify and escalate potential risks and operational issues as appropriate
  • Identify red flag / dot situations and escalate in line with policy and procedures
  • Ensure necessary KYC docs are attached to the client's CDD in line with policy and procedures
  • Ensure New Account Tracking file is updated on real time basis so as to reflect the accurate status
  • Ensuring appropriate and confidential handling / sharing of sensitive client data
  • Contribute ideas and participate in efforts to drive continuous improvement to enhance service delivery
  • Escalate issues in a timely manner in line with the escalation protocols
  • Escalate recurrent issues surrounding the onboarding process to management
  • Work independently and complete assigned tasks within the established timeframes
  • Participate in UAT and make suggestions on system improvements
Experience / Exposure
  • Relevant experience in Client Onboarding
  • Strong understanding of KYC, AML , Regulatory requirements (i.e. HKMA and MAS)
  • Strong knowledge of Private Banking industry
  • Strong interpersonal, analytical, problem solving, negotiating, influencing, facilitation, organizational, prioritization, decision-making and conflict resolution skills
  • Excellent communication skills, fluent in English and local language (written / verbal) as appropriate
  • Open minded, able to share information, knowledge and expertise with peers and team members

Key Competencies
  • A dedicated team player
  • Strong sense of ownership and responsibility
  • Comfortable with change, ambiguity, debate, conflict and informed risk taking
  • Ability to multi-task and manage multiple streams of work concurrently
  • A "can do" attitude with a passion for driving best practices
  • Logical, structured approach to planning and problem solving
  • Ability to challenge and influence stakeholders to ensure decisions are well thought out and can be executed from an operations perspective
  • Consultative in approach, understanding and anticipating business partner needs and proactively delivering solutions
Key Competencies
  • Business
    • Industry & Regulatory Knowledge
    • Risk Management
    • Communication
    • Managing complexity

  • Technical
    • Client Service
    • Product knowledge(internal / external )
    • Project Management & Project Governance
    • Process development & Management
    • Operational Management
    • Quality Management
    • Change Management

  • Behavioral
    • A dedicated team player
    • Strong sense of ownership and accountability
    • A "can do" attitude is a must with a passion for driving best practices
    • Willingness to make decisions, while ensuring buy in from stakeholders
    • Detail oriented - balanced with ability to think , prioritize and act strategically
    • Logical, structured approach to planning, problem solving and decision-making
    • Comfortable with change, ambiguity, debate, conflict and informed risk taking
    • Multi-tasker who can manage multiple streams of work concurrently
    • Ability to challenge and influence stakeholders to ensure decisions are well thought out