About this role:
Wells Fargo is seeking a Due Diligence Associate. Responsible for providing compliance support for projects and initiatives with low to moderate risk to identify, assess and mitigate BSA/AML risk in business activities. Specifically, the Associate will analyze, and research risks escalated, referred or alerted on potential negative news, sanctions or politically exposed person matches; research and provide Customer Due Diligence/Enhanced Due Diligence information; identify and research patterns, trends and anomalies in transactional and customer data to detect, prevent, mitigate and report unusual activity related to money laundering and terrorist financing.
In this role, you will:
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Conduct comprehensive research and background reviews of transactions, individuals, entities, organizations or locations to identify and mitigate risks through documenting findings and escalation
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Perform EDD reviews in line with client policy to fulfil Know Your Customer (KYC) requirements.
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Research business escalations to review potential negative news or financial crimes-related potential matches, research and provide recommendation based on findings
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Review basic issues, policies or procedures for which answers can be quickly obtained related to lower risk tasks and deliverables with narrower impact
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Perform tasks to support regular reporting routines and/or ad-hoc requests, which include report review, analysis, research and documentation
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Gather and input data utilizing resources to identify documentation required to meet policy or regulatory requirements
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Evaluate output from the Due Diligence Group which includes Corporate Politically Exposed Persons, Global Sanctions Screening & Reporting, and Enhanced Due Diligence Center.
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Receive direction from supervisor and exercise judgment while developing understanding of function, policies, procedures, and compliance requirements
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Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals
Required Qualifications:
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6+ months of Due Diligence experience, or equivalent (including risk management, client service, operations support, or business process management) demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
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6 to 8 years of Experience in AML Investigations, EDD Reviews, PEP Investigations, Fraud Investigations, customer/transactional activity research, domain knowledge within banking and BSA/AML/OFAC Regulatory Compliance related review of Customer relationships
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Would be required to demonstrate logical thinking, good numeric abilities, domain understanding.
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Ability to foresee risks, be proactive and predictive while developing risk mitigation plans.
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Good verbal and written communication skills
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Strong analytical, critical thinking and problem-solving skills.
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Quick learner
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Experience delivering results in a fast-paced, deadline driven environment.
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Ability to exercise independent judgement and discretion handling highly sensitive casework.
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Able to articulate a complex problem, design, build and implement a solution and communicate in clear business terms the benefits of the proposed risk management approach
Job Expectations:
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Possess good knowledge in US regulations (Bank Secrecy Act, USA PATRIOT Act and Economic Sanctions laws)
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Excellent communication and relationship/partnership building skills.
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Proficiency in Office Suite (Excel, Word, PowerPoint, Outlook) and SharePoint.
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Bachelor’s degree in business, Finance or Economics
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Flexibility of working in shifts
Posting End Date:
12 Mar 2025
*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
What We Do
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with approximately $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in over 40 countries and territories to support customers who conduct business in the global economy. With approximately 250,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.
Why Work With Us
We're known for our “Well Life” approach to supporting employees’ career aspirations, work-life balance, and mental and physical health. We ranked #2 on the 2023 LinkedIn Top Companies list – and #1 among financial services companies – as the best workplace “to grow your career” in the U.S.
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