Job Opportunity: Due Diligence Consultant at Wells Fargo
- Company Name: Wells Fargo
- Role: Due Diligence Consultant
- Experience: 2+ years of relevant experience (including risk management, client service, operations support, or business process management)
- Salary: Not specified in the job description
- Employment Type: Full-time
- Location: Bengaluru, Karnataka
Wells Fargo is seeking a talented and detail-oriented Due Diligence Consultant at Wells Fargo to join its team in Bengaluru. In this pivotal role, you will be responsible for supporting the company’s Know Your Customer (KYC) compliance process in commercial banking operations. Your efforts will directly contribute to ensuring that Wells Fargo complies with the rigorous standards of the USA Patriot Act, as well as adhering to the company’s internal Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) policies. This role provides the opportunity to work within a dynamic environment, managing risks and compliance initiatives that are critical to maintaining Wells Fargo’s reputation and operational integrity.
Key Responsibilities:
As a Due Diligence Consultant, your primary focus will be conducting comprehensive KYC reviews in alignment with regulatory requirements and company policies. You will be responsible for implementing and monitoring a risk-based compliance program, ensuring all commercial banking processes are in full compliance with federal, state, and local regulations. Key responsibilities will include:
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KYC Compliance: You will conduct detailed reviews of customer information to confirm adherence to KYC and AML guidelines, particularly ensuring that commercial banking processes comply with the USA Patriot Act and Wells Fargo’s corporate policies.
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Data Quality Management: A significant part of your role will involve monitoring and maintaining data quality by identifying exceptions, sampling relevant data, and ensuring that all processes meet the standards outlined in the Quality Control (QC) framework.
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Risk Assessment and Mitigation: You will participate in risk assessments, providing compliance support for projects that may involve low to high-risk business activities. This will include identifying, assessing, and mitigating potential BSA/AML risks.
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Audit and Record Keeping: Maintaining a comprehensive audit trail of all due diligence activities performed is crucial. You will ensure that all compliance tasks are documented meticulously for future reference and regulatory scrutiny.
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Collaboration with Compliance Teams: You will actively engage with compliance teams to assess any potential unusual or suspicious activity. This will require frequent communication with internal stakeholders to ensure that risks are managed effectively.
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Ongoing Program Management: As part of your role, you will assist with the development and continuous improvement of program procedures. You will also update policies and procedures as necessary to stay aligned with regulatory changes.
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Support for Examinations and Audits: You will assist with any internal or external audits or regulatory examinations, providing documentation and clarification as needed.
Required Qualifications:
To be considered for this position, applicants must have at least 2+ years of relevant experience in due diligence, risk management, client service, or operations support. This can include roles in financial services, criminal justice, fraud, or investigations into financial crimes. Furthermore, candidates must meet the following qualifications:
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Experience in Risk and Compliance: Demonstrated understanding of BSA/AML programs, including KYC procedures and related regulatory compliance disciplines.
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Familiarity with Financial Crimes or Investigations: Experience working with Anti-Money Laundering (AML) programs, Bank Secrecy Act (BSA), or other financial crime-related investigations is crucial.
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Education: A degree in any field is required, and applicants with relevant certifications or additional training will be preferred.
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Collaboration Skills: Proven ability to collaborate effectively with management and functional teams across various departments.
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Analytical and Problem-Solving Skills: Strong critical thinking and analytical abilities, especially in risk identification and mitigation, are necessary for this role.
Desired Qualifications:
Wells Fargo is seeking candidates with strong verbal and written communication skills, as well as a demonstrated ability to interpret complex data and make informed decisions. A quick learner who is eager to grow within the banking industry is highly valued. Candidates with domain knowledge in banking and financial services are preferred.
Why Wells Fargo?
At Wells Fargo, we believe in fostering a culture of diversity, equity, and inclusion. We welcome applicants from all backgrounds and encourage individuals from underrepresented groups to apply. We are committed to building strong customer relationships while maintaining a strong risk mitigation and compliance-driven culture.
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