Financial Compliance Analyst

About Us :

MUFG Bank, Ltd. is Japan’s premier bank, with a global network spanning in more than 40 markets. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments, and individuals worldwide. MUFG Bank’s parent, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, the Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

The Group aims to be the world’s most trusted financial group through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.

MUFG Global Service Private Limited :

Established in 2020, MUFG Global Service Private Limited (MGS) is 100% subsidiary of MUFG having offices in Bengaluru and Mumbai. MGS India has been set up as a Global Capability Centre / Centre of Excellence to provide support services across various functions such as IT, KYC / AML, Credit, Operations etc. to MUFG Bank offices globally. MGS India has plans to significantly ramp-up its growth over the next 18-24 months while servicing MUFG’s global network across Americas, EMEA and Asia Pacific

About the Role :

Position Title : GIFT City - Operations Corporate

Title : Analyst

Reporting to : Asst Vice President / Associate

Location : Bangalore

Purpose of the Job :

MUFG Bank has undergone an organizational restructuring of its client onboarding processes, and the India branches of MUFG bank are now required to comply with the global expectations and maintain higher standards of diligence and superior customer services which are aligned to the global practices. KYC and AML Unit is a centralized team that will be responsible for the client’s life journey with the Bank from on- boarding to exit, managing their relationship with the Bank (including global relationships of the MUFG group, where required) from all regulatory (local and global) as well as internal MUFG Bank requirements.

KYC and AML unit is responsible to perform KYC checks according to Global KYC standards manual which provides the guidance on the AML and financial sanctions programs for MUFG Bank.

The role plays an important part as liaison between clients and internal stakeholders involved in the client onboarding processes, including Front office teams, Compliance and operational groups across the organization.

This is an individual contributor role, which will be responsible for engaging with internal and external stakeholders on a daily basis and ensuring the uninterrupted flow of communications between parties.

The incumbent will be required to ensure that all required onboarding cum due diligence documents and data from clients is collected periodically based on internal policies of the Bank and reviewed to match the standards of the Bank, for both existing and new clients. The incumbent will be in charge of explaining the requirements to the clients and help deal with their queries in relation to our processes and requirements and where necessary liaise with internal stakeholders to guide the client. It is expected that the incumbent is methodical, is a good communicator and well versed in managing customer relationships.

The role involves being a single point of contact for close co-ordination with client(s) and supporting them to complete the onboarding processes of MUFG Bank GIFT City. Any documents collected in the course of such client services to be reviewed by all necessary internal stakeholders within internal timeframes, as applicable. Such co-ordination involved will be after completing an assessment of the client risk profile / client types and assessing backgrounds / checks / investigations as applicable to comply with the global regulatory requirements and global MUFG Bank standards. This includes effective management and mitigation of anti-money laundering and financial crime risks aligned to the global standards adopted by MUFG Bank.

The role involves management of client relationships at a Pan-India level and therefore requires interaction with internal stakeholders in various locations in Pan-India. The incumbent is expected to also co-ordinate closely with colleagues across regional and global Operations teams and Financial Crime Compliance teams in order to stay updated on MUFG Bank’s internal requirements and processes as well as to seek deviations where necessary on the basis of local regulatory requirements.

Primary Responsibilities :

Strategic :

• Responsible for performing Client onboarding / Periodic Review / Ad hoc Review checks.
• Sound knowledge of the client on boarding and Anti-Money Laundering, Customer due diligence, Extended due diligence and account opening processes.
• Sound knowledge of Regulatory guidelines related to RBI and IFSCA.
• Perform due diligence while onboarding clients covering a wide range of different client types including Listed and Regulated, Private and Public companies, Special Purpose Vehicles, Joint
• Ventures, Foreign Portfolio Investors, Alternate Investment Fund / Scheme, Overseas Banks, Project Office, Liaison / Representative Office, Branch Office accounts, Trust accounts etc.
• Ensure that all required onboarding documents and data from clients is collected and reviewed and
• delivered for further processing in line with regulatory and internal Bank requirements.
• Drive controls and check points related to Special category accounts like LO / BO / PO accounts and Foreign entities.
• Adept in enhancing the supervisory aspects of due diligence based on market practices and intelligence and global standards set up pursuant the Global Financial Crimes Compliance Global Roll-out.
• Take ownership of assigned cases and actively follow through throughout the client relationship.
• Timely escalation to management of issues and actively follow up for resolution.
• Liaise with internal and external stakeholders on a daily basis.
• Publishing of MIS on status of the onboarding / regular review and updating of closure status review to the senior management of the Bank.

Customer :

People :

Other / Control :

Skills & Knowledge :

problem solver with ability to think out of the box.

able to multi-task and prioritize.

Length & Type of Experience :