Customer Acceptance Checking and Onboarding
Assess customer acceptance suitability by conducting Know Your Customer, Anti-Money Laundering, Customer Due Diligence (KYC/AML/CDD) checks and fraud assessments
Type
Functional
Competency Area
Risk Management, Governance and Regulatory Compliance
Levels
Evaluate information required for customer acceptance and onboarding
Explain information and documentation requirements to customers as part of onboarding
Obtain background, financial information and supporting documentary evidence from customers
Check documents for validity, relevance and ensure it is sufficient for needs of situation
Perform KYC/CDD/AML and Business Partner Analysis checks
Perform fraud risk assessment using established fraud detection procedures
Follow standard set of steps for onboarding procedures
Conduct (KYC/AML/CDD) incoming customers
Review documented evidence for accuracy and against self- assessed KYC/AML/CDD checklists for customer approvals
Coordinate acquisition of supporting information for account opening and financial situation documentation
Verify documents and customer identities
Conduct onboarding interviews and assessments in line with pre-determined policies
Execute acceptance checks and assessments of customers’ suitability
Conduct periodic review of onboarded customer accounts for money laundering, CFT and Proliferation Financing warning signs
Conduct monitoring of customer accounts for irregular or fraudulent activities using automated systems
Review and validate customer integrity and acceptance suitability
Guide team on customer acceptance checking and onboarding procedures
Roll out onboarding steps as part of risk management activities
Develop guidelines for customer acceptance checking and customer onboarding procedures
Review and verify accuracy of customer acceptance checks and onboarding procedures
Identify improvement opportunities for processes and procedures
Review highlighted potential fraud, AML, CFT and Proliferation Financing cases and escalate to appropriate senior team members accordingly
Oversee implementation of periodic monitoring and review of customer base to determine risks and impact on customer retention.
Determine overall process for adherence to AML, CFT, and Proliferation Financing requirements at a local and global level