eFinancialCareers

• Company

  Deutsche Bank

• Location

  USA-FL-Jacksonville

• Compensation

  competitve/ DOE

• Position Type

  Employee

• Employment type

  Full time

• Updated

  21 Nov 2008

• eFC Ref no

  458126

About Deutsche Bank Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets.

With 75,140 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

www.db.com

Global Markets:
Within Deutsche Bank, the Global Markets Division is responsible for the origination, sale, structuring and trading of fixed income, equity, commodity, foreign exchange, derivative and money market products. Global Markets has established itself as a global leader in these products by combining its unique distribution franchise with its pricing, structuring and execution expertise.

Global Markets is dedicated to delivering exceptional capital raising, risk management and investment solutions that meet the precise needs of its clients. The Global Markets Division employs more than 5,400 professionals in 39 trading rooms around the world.

The TMG (Transaction Management Group) group is a newly formed team comprised of what was previously the Middle Office group within Operations and Finance. TMG is part of the firm's Global Markets Business and is closely aligned to ensure the timely and accurate booking & confirmation of both Derivatives and Securities transactions. The newly formed TMG team reports directly into the Front Office.  The division is responsible for managing trades from trade capture, trade and sales support to lifecycle management.

KYC/ Client Adoption- Quality Assurance Team

Responsibilities Include:

 In accordance with Anti-Money Laundering and Combating of Terrorism (AML/CFT) Requirements, financial institutions such as Deutsche Bank (DB), are obliged to perform checks on all potential clients and related parties at the client on-boarding stage as well as on a regular ongoing basis for all existing clients. These checks and reviews are made in strict accordance with requirements defined by our regulators and the Bank’s internal policy on client adoption. DB has a bespoke workflow tool to support this process.

Due to efficiency issues with the existing process, a significant re-engineering project has been initiated to improve the workflow and create a new dedicated Quality Assurance team within the middle office to validate, enrich, complete and submit client account requests in accordance with KYC procedures working closely with Sales and review functions

The role is to provide a dedicated operational function within the Global Markets Transaction Management Group (TMG) to work closely with the business units of Global Markets to process requests for new, or extensions to existing, client accounts. Improve the efficiency of account opening process by ensuring the quality and completeness of the requests that are passed to the compliance teams for approval.

• Review client account requests for completeness and quality within the workflow account opening system (db-Client). Enrich the data included on the request with core client data, SSI information, KYC documents (according to predefined rules) and business prioritisation

• Source a wide selection of client documentation from internal and external data sources in order to extract key information and validate client’s identity and reputation in order that they meet KYC checks

• Communicate effectively with the business units regarding KYC documentation required and clarification of structure and content of the request

• Respond to ad hoc queries related to the account requests

• Maintain effective relationships with Compliance, Credit, Senior Management and other Back & Middle Office areas

• Work with the business units to approach clients to gather KYC documents and SSI instructions

• Undertake review of existing clients within the database to ensure that their documentation is kept up-to-date

• Monitor MIS for the entire account opening process and escalate bottlenecks and capacity issues. Use this data for continual process improvements

• Support of the Sales and Sales assistants with regard to client account opening

• Training Sales users and undertaking requirements definition and UAT of the workflow tool, document repositories and SSI tools and other relevant systems

Skills Required: 

• Applicants for this position should ideally have experience within an operational or control department within a banking environment, a Compliance or Legal Department within a banking environment, or within a similar Operations KYC function.

• Understanding of the workings of an investment bank and the lifecycle of a trade.

• Knowledge of the regulatory rules and regulations relating to AML/CFT is desirable.

• The ability to work under pressure and within tight deadlines with no loss of accuracy

• Confident, determined with a lively and open personality

• Show initiative and react quickly to changes in priorities

• Ability to learn new practices and procedures quickly

• Presentable and articulate with good communication skills to deal with front office, support areas and clients.

• Commitment to seeing quality results from own endeavours.

• Resilient, determined and hardworking

• Possessing strong organisational skills.

• Competent business user of MS products and Lotus Notes. Internet literate to enable on-line searches

• Fluency in English essential. Other European languages beneficial

*Deutsche Bank is an Equal Opportunity/Affirmative Action (M/F/D/V) employer.*