The main responsibility of the Associate is to undertake due diligence on prospective clients/counterparties and handle client maintenance activities for SMBC Capital Markets, Inc. (Swap Dealer).
The Associate will primarily be engaged in research and analysis. They will use information supplied by external clients, information already within the organization, external vendors tools and their overall experience to effect due diligence controls on clients/counterparties of various characteristics - SPV's, large corporates, FI's, etc - all of which come with their own particular set of regulatory risk factors.
- Engage internal and external clients to help facilitate the onboarding and maintenance processes.
- Coordinate client / counterparty onboardings across multiple functions / units - Front Office, Compliance, AML, Operations, Legal and Tax, amongst others - all in a high pressure / time-sensitive environment.
- Review bank agreements, legal documents, and other paperwork for completeness and accuracy.
- Minimum of 3-4 years of prior experience.
- Strong understanding of US PATRIOT Act, BSA / AML requirements (e.g. CIP requirements; difference between CDD and EDD; etc).
- Strong understanding of Dodd-Frank and FATCA.
- High competency in using external due diligence tools such as Alacra, LexisNexis, etc.
- Experience/appreciation for due diligence operations and onboarding applications/systems.
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