Onboarding & Periodic Review Executive

Inside the Program

Understand how the rotation and mentorship will run.

Rothschild & Co is a leading global financial services group with seven generations of family control and a history of over 200 years at the centre of the world's financial markets.

Our expertise, intellectual capital and global network enable us to provide a distinct perspective that makes a meaningful difference to our clients, communities and planet.

We have 4,600 talented specialists on the ground in over 40 countries around the world, enabling us to deliver a unique global perspective across four market-leading business divisions – Global Advisory, Wealth Management, Asset Management and Five Arrows.

As a family-controlled business built on relationships, we place a huge emphasis on our people and finding the right colleagues to take our business forward.

Rothschild & Co is committed to an inclusive and supportive environment where different perspectives are valued. We are focused on the attraction and recruitment, development and retention and progression of high calibre talent to ensure we and our clients benefit from the value of difference.

Rothschild & Co Wealth Management

Within Wealth Management we offer an objective long-term perspective on investing, structuring and safeguarding assets, to preserve and grow our clients’ wealth.

We provide a comprehensive range of private wealth services to some of the world’s wealthiest and most successful families, entrepreneurs, foundations and charities. In an environment where short-term thinking often dominates, our long-term perspective sets us apart. We believe preservation-first is the right approach to managing wealth.

The Onboarding and Periodic Review Team

The Onboarding and Periodic Review team is responsible for the timely and compliant take-on of all new clients and the ongoing periodic review of existing clients. These include accounts for individuals and legal entities, such as companies and trusts.

The team undertake a risk assessment of each prospective client and prepare and present cases to the local Business Acceptance Committee.  Where a prospective client is a high risk or PEP client, these are first escalated to Compliance for approval.

The team is also responsible for the timely and compliant review of all existing accounts in line with AML/CFT regulatory and international tax compliance requirements.  This includes the review and approval of all low and medium risk clients and a review of high risk and PEP clients before escalating these to Compliance for approval.

The team is also responsible for creation and ongoing review of all client’s static data held in the system and updating the data where necessary.

Overview of Role

We are looking for a suitable candidate for the role of Onboarding & Periodic Review Executive.  The role involves daily contact with Front Office teams and Compliance to facilitate the onboarding and ongoing review of all clients.

The candidate should be able to demonstrate a strong understanding of the regulatory framework relevant to the role, whilst grasping the importance of a smooth and efficient service for the Front Office teams and end clients. The candidate should possess strong organisational skills, a high level of attention to detail, along with an ability to manage several tasks at the same time and deliver to challenging deadlines when required.

The candidate is expected to demonstrate good communication skills as they will need to clearly explain onboarding and remediation requirements to Front Office client teams. The candidate will also need to show an ability to be pragmatic and proactive when presented with a problem or error which requires “out of the box” thinking.   The candidate should also be able and confident to generate ideas to help improve current procedures and controls to prevent future errors, improve quality and to make processes more effective and efficient.

Elements of the onboarding process

Initial risk assessment of new clients to determine whether they should be escalated to the Compliance team for review
Review of all client documentation including legal documentation, source of wealth evidence and client due diligence
Preparing client profiles and summaries of source of wealth
Review PEP / sanction checks and media searches to identify potential high-risk factors
Reviewing the FATCA and CRS documentation provided by the client
Presenting new accounts for consideration by the Business Acceptance Committee
Ensuring we have all necessary data related to the client
Setting up the client's account in the banking system once it is approved by the Business Acceptance Committee

Elements of the review process

Review of all client documentation including client signed forms, source of wealth narrative and corroboration and broad client due diligence
Risk assessment of client relationships to determine whether the risk rating should be changed, or they should be escalated to the Compliance team for review
Communicating with the Front Office to explain the remediation requirements
Updating client data in the system
Ensuring that clear and complete records are maintained to document the review process
Regular reporting to the Team Leader and senior management on the progress of the reviews

Teamwork

Raising any concerns or issues to senior team members or the Money Laundering Reporting Officer
Assisting the wider team with central tasks, such as other IT and regulatory projects and SWIFT Sanctions Transaction Screening
Management and prioritisation of own workload

Key Competencies

In depth knowledge of regulatory CDD requirements, including corporate entities and trusts
At least two years minimum experience of working within a periodic review and / or client onboarding team working in the financial services sector
Competent IT skills including Microsoft Office
Diligent and high level of attention to detail
Excellent oral and written communication skills
Strong organisational and time management skills
Self-starter and team player

Our goal is to have a balanced, inclusive and flexible environment which enables all colleagues to achieve their personal and professional aspirations, and to ensure that Rothschild & Co provides longer term opportunities for talent.