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My client is one of the world's largest independent wealth management and financial advisory groups operating globally with an unrivalled network of specialists and a track-record of outstanding execution in financial services.
They are looking to hire a Client Onboarding Executive, to be of the Onboarding team which is part of the Front Office Support function, sitting between the Front Office and the other parts of the business. Due to the nature of the business, it would be ideal for this person to come from a wealth management or private banking background.
The Onboarding team is responsible for the 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 role involves daily direct contact with the Front Office teams and the senior management team
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.
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 the company's policies in order to prevent regulatory breaches and internal errors
The role requires someone with clear communication skills, a problem-solving mentality and a creative approach to dealing with problems. The role involves getting involved with projects and looking at ways to enhance and improve procedures and controls, so experience of this would be hugely beneficial.
The selected candidate will need to have a high level of attention to detail, especially when working under pressure.
Experience of client onboarding is essential and preferably combined with experience in Wealth Management preferred
Experience of FATCA / CRS / QI withholding tax is desirable