About us
In today’s regulatory-driven environment, maintaining correct Know Your Customer (KYC) information is essential for financial institutions. As an Associate—KYC based in Gurugram, India, your position will focus on ensuring compliance with KYC regulations, improving data accuracy, and streamlining critical processes. Here’s an overview of the key responsibilities that come with this position.
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1. Data accuracy and MIS updates
The principal duty of an associate (KYC is to be responsible for seeing the procedures of the CKYC (Central Know Your Customer) centers being updated and maintained: New CKYC accounts’ creation, New KYC accounts’ renewal, Change of addresses of KYC registered accounts, KROC and CardOne processes, etc. It will be your responsibility to ensure that the data for these processes is always accurate and can be accessed for monitoring through MIS. Updating correct data on all relevant applications helps to reduce the chances of events that may attract sanctions from regulators. Compliance breaches may attract costly fines.
2. Evaluation of CKYC Mistakes
Another key responsibility is the effective performance of the functions of the analysis of CKYC’s errors. This involves trend analysis of errors together with investigating their causative factors. To perform this role, you will work very closely with IT staff in correcting errors and data validation processes.
3. Identifying Automation Opportunities and Securing PII
This function in the organization will involve actively seeking out areas in CKYC processes that require reasonable levels of efficiency and can be automated. In consequence, you will also bear a great deal of responsibility in relation to handling Personally Identifiable Information (PII), which is a crucial component in all KYC processes. This includes drafting Business Requirement Documents (BRDs) to outline system development proposals and ensuring that the relevant development teams realize the proposals as intended. You will also take part in the evaluation of those improvements and changes to the systems to ensure that there is proper enhancement of data management and security within the organization.
4. Support KYC processes across relevant jurisdictions and deadlines.
In the first instance, any aspect of this position that focuses on compliance issues will involve identifying any incidents where regulatory requirements are not complied with, such as the requirement to update KYC documentation every ten days. You will take, for example, an active role in ensuring that any KYC updates are not delayed after they are submitted, as well as suggesting, at the corporate level, improvements of turnaround times on submissions and responses. This particular role is also critical for ensuring that the organization remains compliant with regulations and that it does not incur any sanctions from regulatory agencies.
5. Full Balance KYC Process for All KYC Providers’ Portfolios
You will carry out and conclude full reconciliations of all KYC Providers’ accounts opened, KYC Providers’ portfolios of active accounts’ KYC Providers, and other account revolutions, including changes of residence.
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Conclusion
The work of the Associate KYC is very crucial considering the processes and systems for Know Your Customer within the firm. KYC relies on in an appropriate manner: data soundness, errors in detail analysis, errors in further processes, compliance with regulatory bodies, and performance of portfolio reconciling. This position advises how system processes can be enhanced, how close the applicant will work with IT and development teams, and how such work improves overall operations and the applicant.For those intending to apply, DLF Cyber City Tower C Gurugram India is the base of this position, and November 30, 2024 is the last date for applications.
