Responsible for managing the Foreign Account Tax Compliance Act (FATCA) quality assurance and due diligence functions for all DIB customers in order to properly identify those who hold USA citizenship from others and new onboard.
Perform the Enhanced Due Diligence process for all new and existing clients within DIB in order to analyze the gaps between the current state and the desired state.
Conduct ongoing EDD for non-USA customers to properly identify those who became USA citizen afterwards, as well as for USA citizens who are no more classified as USA citizens.
Work within the regulatory framework laid for FATCA, and coordinating the development of due diligence and processes to ensure optimum compliance.
Control assessment methodologies, conduct independent reviews and assist with the remediation of findings from regulators.
Manage due diligence remediation efforts in response to regulator and internal audit findings, enforcement action assistance, creating action plans for remediation activities.
Monitoring and implementing due diligence remediation activities, and reporting to and interfacing with regulators.
Draft procedure manuals pertaining to the function.
Conducting investigations on the suspicious cases relevant to FATCA based on the alerts highlighted by FATCA system.
Provide consistent and quality advice to businesses on issues pertaining to client profiling, and whether the client to be categorized as US person or not
Back up to conduct the required new customer’s names screening upon on-boarding of new customers, to identify the potential US persons at the beginning of the relationships.