Due Diligence Associate

About this role:

Due Diligence Associateconducts due diligence and investigations into commercial customers and their related parties (owners, board of directors, and chief level executives) and retail customers, as well as the bank's high net value clients seeking to expand or establish new credit relationships.Primary due diligence and investigative responsibilities involve conducting comprehensive list-based screening (PEP, MRB and sanctions) on individuals and business entities to identify and mitigate credit (willingness to pay), financial crimes, and reputational risk associated with existing lines of business portfolios and prospects while adhering to the Corporate BSA/AML policies. Due Diligence Associateis expected to review and analyze data from a watch list and report any potential matches for holistic reviews.

In this role, you will:

• Conduct Know your customer compliance process for Wholesale processes in line with the requirements of the United States of America Patriot Act as well as Wells Fargo corporate Anti-Money Laundering and Bank Secrecy Act policy requirements
• Pick up relevant samples for data quality exception to assure compliance with as prescribed in the Quality Control framework requirements
• Participate in and provide compliance support for projects and initiatives with low to high risk to identify, assess and mitigate Bank Secrecy Act and Anti-Money Laundering risk in business activities
• Analyze risks on escalated, referred, or alerted negative news communicate negative findings to lines of business and supply guidance on course of action
• Identify and research the patterns, trends, and anomalies in transactional and customer data to detect, prevent, mitigate, and report suspicious activity related to money laundering and terrorist financing
• Analyze potentially suspicious activity, which will require the review of historical activity along with customer information

Required Qualifications:

6+ months of Due Diligence experience, or equivalent (including risk management, client service, operations support, or business process management) demonstrated through one or a combination of the following: work experience, training, military experience, education.

Desired Qualifications:

• Ability to take initiative and work independently with minimal supervision in a structured environment.
• Good understanding screening like PEP and sanctions screening.
• Familiarity with FinCEN, OCC and FATF requirements.
• Ability to research, analyze, and determine a course of action for financial transactions
• Knowledge and understanding of regulatory compliance requirements surrounding USA PATRIOT Act and Anti Money Laundering (AML) requirements
• Basic Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
• Subject matter expert and Training skills
• Strong organizational and time management skills with the ability to manage multiple responsibilities and tasks simultaneously.

Posting End Date:

We Value Equal Opportunity

Wells Fargo is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

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Drug and Alcohol Policy

Wells Fargo maintains a drug free workplace. Please see our to learn more.

Wells Fargo Recruitment and Hiring Requirements:

a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.