At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident.
We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity.
Join us for the opportunity to grow and make a difference in ways that matter to you.
POSITION PURPOSE
This is an exciting opportunity to join T. Rowe Price within our KYC Operations team.
The KYC Operations Team is responsible for ensuring adherence to KYC regulatory standards, Distributor Due Diligence and account opening requirements, as well as periodic review processes and ongoing monitoring of clients and distributors, operating within a framework of policies and procedures developed and advised by the firm’s MLRO/Global Financial Crime Compliance (GFCC) and Regulatory Compliance in respect of KYC/KYD/AML and Distributor Oversight. The team is expected to demonstrate a strong first line of defence in combating money laundering for the firm.
The KYC Operations team is an international resource covering our EMEA and APAC regions, which include client business generated from our Distribution partners in the UK, across Continental Europe and our APAC locations including Australia, Hong Kong, Japan and Singapore.
The KYC Operations team partners with the client facing teams within the broader Global Client Account Services function, the Relationship Managers, our Transfer Agents and MLRO Office/GFCC, when onboarding clients and intermediaries into the firm to fulfil the firm’s Anti Money Laundering and Know Your Client/Distributors requirements in EMEA and Asia Pac.
PRINCIPAL RESPONSIBILITIES
• Excellent understanding of prevailing laws, regulations, and industry norms with respect to Anti Money Laundering, Financial Crime and client due diligence requirements and processes
• Demonstrate understanding of firm’s AML and Distributor Oversight Policies and procedures as well as systems and technology used in relation to the KYC/ KYD /AML processes.
• Demonstrate intellectual curiosity in respect of continuous learning and development in area of expertise and the wider industry, with an innovative mindset to ensure T Rowe Price stay ahead of development in this specialist area
• Manage various KYC operational aspects including compliance with regulation, policies, upwards management reporting, team KPIs and change projects support when required.
• Act as a subject matter expert and provide strategic guidance on required KYC/KYD documents and processes to onboard and/or renew clients and distributors.
• Responsible for overseeing and providing guidance on the coordination of the end to end account opening and distributor onboarding process in respect of KYC/KYD/AML including following up with teams responsible for completing sub-activities and assisting in client conversations from time to time.
• Undertake client/distributor due diligence on a timely basis and ensure they are performed to meet the required quality and detail standards as required by policy & procedures
• Perform risk assessment on clients and distributors, identify and escalate potential risks and operational issues as appropriate, in accordance with set policy and procedures
• Provide initial assessment report to the Distributor Governance & Oversight Committee (DGOC) on potential risks associated with the distributor relationship, such as jurisdiction, client base, regulatory status
• Ensure KYC documentation and due diligence questionnaires are collated, updated, retained and deleted in line with policy and procedures in TRP systems including Salesforce and other databases.
• Review, disposition or escalate the PEP and Sanctions screening matches to the MLRO/GFCC for guidance
• Track the new account and distributor onboarding status and to set and manage the priority of onboarding requests
• Maintaining a record of all clients and distributors with assigned risk ratings, results and dates of last review and to ensure periodic reviews are carried out in a timely manner and in accordance with policy and procedures set by the MLRO/GFCC in respect of Distributor Due Diligence standards
• Identify and escalate operational, regulatory and other risks and red flags to line manager and MLRO/GFCC as appropriate and in a timely manner; contribute to the development and implementation of business processes and controls
• Conduct transaction monitoring reviews and investigations on alerts, liaising with relationship managers where required
• Build strong relationships with partner teams and dependent stakeholders, in particular the MLRO, GFCC and Legal, as well as with clients, distributors and transfer agents
• Own management & resolution of day to day operational issues related to KYC/KYD and Distributor Oversight and take the lead on timely resolution of these issues/ escalations, instituting proactive measures to ensure operational effectiveness and resiliency, working in partnership with the MLRO/GFCC where policy is affected
• Maintain a strong working practice of anti-money laundering regulations
• Act as a KYC and AML subject matter resource for KYC Operations team
• Serve as a point of escalation for the first line business.
• Ensure risks and issues are handled in line with agreed policies and procedures and work on continuous improvement plans as required.
• Interface with both our second and third line of defense teams to ensure robust governance and control is achieved
KEY INTERFACES:
• Internal: Global Client Account Services; Relationship Managers; Global Financial Crime Compliance (GFCC); Compliance department; Legal; Distribution Governance & Oversight Committee
CLIENTS/PRODUCTS/INVESTMENTS COVERED:
• EMEA/Asia Separately managed accounts
• Distributors (SICAV, OEIC funds)
PERSONAL ATTRIBUTES / SKILLS / QUALIFICATIONS
• 6+ years of demonstrable related work experience within an onboarding/ or AML/KYC focused role.
• Excellent written and oral communication skills, with prior experience of successfully working with various stakeholder teams.
• Self-motivated
• Able to work in an extremely fast-paced, high-volume environment that calls for constantly changing priorities
• Strong organisational skills with ability to multi-task and prioritise workload accordingly
• Knowledge of fraud, bribery and corruption practise and mitigation desirable.
• A good knowledge of AML legislation and requirements.
• A good level of awareness and ability to understand legal corporate entities and corporate group structures.
• Ability to build process to support AML concepts and client focussed experience.
• Previous experience working with salesforce, distributors, separate accounts and funds.
• Excellent attention to detail.
• Good interpersonal, relationship building and written / verbal communication skills.
Commitment to Diversity, Equity, and Inclusion:
At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all.
T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, colour, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.
