Consultant - AML - Pune

Pune, Maharashtra
Permanent
Full-time

10 hours ago

About Northern Trust:Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.Job Title: Consultant – CRF Review TeamJob OverviewSeeking an experienced professional for the Consultant role in AML/KYC compliance US Wealth Management, responsible for ensuring adherence to regulatory frameworks, performing due diligence, identifying suspicious activities, and facilitating effective Individual/Institutional client onboarding and monitoring processes to mitigate financial crime risks.Key Responsibilities

Conduct thorough AML/KYC reviews to verify Client identity and assess the details provided with regulatory standards.
Perform customer due diligence (CDD) and enhanced due diligence (EDD) for Wealth Management clients.
Monitor and analyze details to identify suspicious behaviors and potential money laundering or terrorist financing.
Prepare and present Suspicious Activity Reports (SARs) and escalate concerns as required.
Maintain accurate records of KYC documentation and have client onboarding data updated in relevant systems.
Collaborate with internal teams including Risk, Compliance, and Front Office to ensure seamless onboarding and compliance processes.
Assist with investigations related to AML alerts and regulatory audits.
Stay current with developments in AML/KYC regulations, industry best practices, and emerging financial crime trends.
Provide guidance and training to junior staff, promoting quality and compliance standards.
Participate in process improvement initiatives to enhance efficiency and effectiveness of AML/KYC controls.
Works with line management and other colleagues to ensure that the AML support team in Pune meets the required audit, risk and compliance standards as determined, from time to time, in accordance with advised changes in processes and procedures pursuant to amendments in prevailing legislation, guidance and best practice.
Responsible for ensuring regulatory/compliance requirements are met
Analyze monthly management information to understand where quality at an individual, process, team or management company needs to be addressed
Ensure that appropriate segregation of duties controls are in place at all times
Ability to identify risks in the process and implement controls to mitigate the. Knowledge of RCSA.
Initiate and lead initiatives to drive productivity and capacity utilization, continuously improve internal efficiency, scalability, and effectiveness while reducing risk within the group.
Demonstrate strategic thinking in managing change, migrations, transitions and projects
Analyze the MIS and provide quality input to the operations groups on improvement opportunity.
To work with the team, internal departments and group projects area on any allocated projects.
To work with internal departments to evaluate and implement changes in proposed new regulations and to ensure that all requirements are met

Required Skills and Qualifications

Bachelor’s degree in Finance, Business, Law, or related field; relevant certifications (e.g., CAMS, ACAMS) preferred.
Proven experience (minimum 7+ years) in AML/KYC compliance within a financial institution or related sector.
Strong knowledge of KYC, AML laws, regulatory requirements, and customer due diligence procedures.
Organizational Knowledge of Wealth management, KYC process to onboard entities i.e. NGO, LLC, LLP, Trust, Funds, Individual etc. AML Regulations and CIP.(business knowledge, expert knowledge and external events impact) including below:

KYC Remediation

Periodic Client Review (PCR)
Customer Due Diligence (CDD)
Client Onboarding & Maintenance
U.S. Person & Entity Verification
W-9 / W-8 Documentation Check
Low Risk Rating Validation
Beneficial Ownership Confirmation
Risk-Based KYC Approach
CIP Controls
Trust & Entity Document Review
Source of Income Verification
CRM Workflow Management

Periodic Client Review (PCR)

Customer Due Diligence (CDD)
Client Onboarding & Maintenance
U.S. Person & Entity Verification
W-9 / W-8 Documentation Check

Client Service and Quality (quality, relationship building and client satisfaction)
Administration (Anticipates needs, execution, planning, process specialist, quality seeker and time management)
Leadership (Addresses difficult issues, builds effective teams focused on goals, champions new initiatives, fosters development, gives timely feedback and coaching, Idea generator and sets challenging performance standards )
Understand and implement principles of quality delivery.
Accuracy and attention to detail.

Excellent analytical and investigative skills with attention to detail.
Proficient in using KYC/AML compliance tools and Microsoft Office applications.
Ability to manage multiple priorities in a fast paced environment and meet deadlines.
Strong communication and interpersonal skills for effective collaboration with internal and external stakeholders.
Sound understanding of various customer types, corporate structures, and jurisdictional risk factors.
Ability to interpret complex regulatory information and apply it practically for compliance purposes.

Ability to mentor and coach junior team members.
Proactive approach to identifying process gaps and recommending improvements.
Familiarity with global AML regulations such as FATF recommendations, BSA, USA Patriot Act, etc.

INTERNAL CANDIDATES:

24 months as an Associate Consultant/Technical Coordinator OR 12 months as a Consultant
Knowledge of NT Trust and banking source account opening systems
Knowledge of trust and banking product documentation to verify required legal documents and associated information to understand legal entity setups and account ownership.
Some knowledge of Northern Trust Wealth Management business is ideal

Reporting Structure

DIRECT REPORTS TO

Section Manager

INTERNAL KEY STAKEHOLDERS

Home Locations Leads/Managers / Senior ManagementUS Wealth Management Client Relationship Form Review TeamNorthern Trust AML ComplianceBU ControlNT RiskAML teams in Home locationsUpstream & downstream teamsPeers and Support functionsEligibility for Internal partners

24 months as a Technical Coordinator/Associate Consultant to move as a Team Leader/ Consultant.
Movement within TL and Consultant is 12 months

Working with Us:As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreaterReasonable accommodationNorthern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at .We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.Apply today and talk to us about your flexible working requirements and together we can achieve greater.About Our Pune OfficeThe Northern Trust Pune office, established in 2016, is now home to over 3,000 employees. The office handles various functions, including Operations for Asset Servicing and Wealth Management, as well as delivering critical technology solutions that support business operations across the globe.Our Pune team takes our commitment to service to heart. In 2024, they volunteered more than 10,000+ hours into the communities where they live and work.

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