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Rothschild & Co is one of the world's largest independent financial advisory groups. We offer a distinct perspective that makes a meaningful difference to our clients' business and wealth.
With a team of 3,800 talented financial services specialists on the ground in 40 countries across the world, we provide independent advice on M&A, strategy and equity and debt financing, as well as investment and wealth management solutions to large institutions, families, individuals and governments. As a family-controlled business that has been at the centre of the world's financial markets for over 200 years, we can rely on an unrivalled network of specialists and are known for our track-record of outstanding execution in financial services.
Rothschild & Co Wealth Management
Within Private Wealth Management we offer an objective long term perspective on investing, structuring and safeguarding assets, to preserve and grow our clients' wealth.
We provide a comprehensive range of private wealth services to some of the world's wealthiest and most successful families, entrepreneurs, foundations and charities. In an environment where short-term thinking often dominates, our long –term perspective sets us apart. We believe preservation-first is the right approach to managing wealth.
The Onboarding Team
The Onboarding team is part of the Front Office Support function which sits between the Front Office and the other departments of the business.
The Onboarding team is responsible for the timely and compliant take-on of all new clients. These include accounts for individuals and ISAs as well as for companies, trusts, pensions, charities and insurance wrappers. The team review and approve all low and medium risk clients and complete the review of high risk and PEP clients before escalating to Compliance for approval. They are also responsible for reviewing new clients with regard to investment suitability, FATCA, CRS, QI withholding tax and MiFID II transaction reporting.
The team are also responsible for the periodic review for all clients and also review and approve all static data changes for existing clients, ensuring that the Front Office have followed the instruction taking procedure to protect our clients against fraud.
Overview of Role
We are looking to hire an Onboarding Executive who will report into the Onboarding Team Leader. The role involves daily direct contact with the Front Office teams and the senior management team in order to facilitate account openings, periodic reviews and static data amendments.
The candidate is expected to demonstrate good communication skills as they will be occasionally dealing with clients as well as internal contacts. Also, they should show an ability to be creative when presented with a problem or error; the candidate should be able to generate ideas to improve current procedures and controls in order to prevent future errors and to make processes more efficient.
The candidate should be able to demonstrate a strong understanding of the regulatory framework relevant to the role, whilst grasping the importance of a smooth and efficient service for the Front Office teams and end clients.
Review and approval of clients' documentation and source of wealth information and evidence
Responsible for managing the onboarding workflow for all accounts where they are the lead reviewer, including coordination and approval of system set up
Coordination and execution of the periodic review for all clients, with guidance from the team leader
Assisting with the coordination of the team workload, particularly with regard to static data amendments
Elements of the onboarding process
Initial risk assessment of new clients to determine whether they should be escalated to the Compliance team for review
Review of all client documentation including client forms, source of wealth evidence and due diligence
Review Word Check and media searches to identify potential high risk factors
Analysis of suitability assessment completed by the Front Office team and ensuring we have documented the process accurately
Reviewing the FATCA, CRS and QI withholding tax documentation provided by the client
Ensuring we have all necessary data related to the client including national identifiers and Legal Entity Identifiers for MiFID II
Day-to-day support and query resolution
Providing guidance to Front Office teams with regard to required documentation for new clients
Helping to ensure that the Front Office teams are adhering to internal policies
Providing an example to the client service executives by showing strict controls and consistency with our policies in order to prevent regulatory breaches and internal errors
Project work and static data amendments
Coordination and execution of project work, such as AML remedial exercises
Review of static data amendment requests and ensuring changes are made correctly in the system. This could be anything from a change of address to a complete change of trustees or perhaps a change of investment strategy
Reporting and controls
Producing MI related to account deficiencies and onboarding timeframe SLAs
Responding to points raised on Compliance monitoring of new account openings
Producing report data for MI / Risk / Compliance
Deputising for the Team Leader, together with the other Onboarding Executive
Assisting the wider Front Office Support team with central tasks, such as regulatory projects
Management and prioritisation of own workload
Experience of client onboarding essential and experience in Wealth Management preferred
Good knowledge of JMLSG and a strong interest in AML
Experience of FATCA / CRS / QI withholding tax desirable
Excellent oral and written communication skills
Computer literate (MS Office)
Diligent and high level of attention to detail even when working under pressure
Strong organisational and time management skills
Self-starter and team player
Our goal is to have a balanced, inclusive and flexible environment which enables all colleagues to achieve their personal and professional aspirations, and to ensure that Rothschild & Co provides longer term opportunities for talent.