Overview
POSITION TITLE: ONBOARDING SPECIALIST
DEPARTMENT: BUSINESS DEVELOPMENT
REPORTS TO (TITLE): BUSINESS DEVELOPMENT SUPERVISOR
Primary objective of the job:
To conduct thorough risk assessments of new accounts, ensuring alignment with the Bank’s risk appetite and regulatory standards. The officer will evaluate account profiles, identify potential risk factors and make recommendations for approval or escalate high risk accounts for further review. This role supports the Business Development function by enabling informed decision-making during client onboarding, balancing opportunity with risk and strategic growth objectives.
Principal Responsibilities:
▪ Conduct comprehensive risk assessments on all new client applications to ensure alignment with the Bank’s risk appetite and regulatory standards.
▪ Evaluate client documentation for completeness, accuracy, and consistency with internal policies.
▪ Perform EDD on high-risk clients, including politically exposed persons (PEPs), prior to submission to the Compliance Department.
▪ Identify and escalate any red flags or inconsistencies that may pose reputational, regulatory, or financial risks.
• Provide clear, well-documented risk recommendations to the Manager, Assistant Manager, and Supervisor to support informed decision-making.
• Collaborate with relevant stakeholders to resolve outstanding risk-related issues before account onboarding.
• Assist in liaising with the Compliance Department to ensure timely review and approval of high-risk client files.
• Maintain up-to-date knowledge of AML/CFT regulations, KYC requirements, and internal compliance policies.
• Identify opportunities to improve operational efficiency within the client onboarding workflow.
• Contribute to the department’s overall growth targets by ensuring new client relationships are built on sound risk foundations.
• Maintain accurate records of all risk assessments and EDD findings.
• Prepare periodic reports on risk trends, assessment outcomes, and process improvements for management review.
Minimum Education and Experience:
▪ Bachelor’s Degree in Banking, or Banking & Finance, or related field from an accredited University or College; or a minimum of three (3) years’ experience in banking risk assessment or compliance, preferably within a business development context.
▪ Professional certification in Risk Management or Compliance (e.g., ACAMS, CRCM) is an asset.
Key Competencies:
▪ Critical thinking
▪ Good interpersonal skills
▪ Problem solving Strong risk assessment and analytical skills
▪ High level of integrity and ethical judgment
▪ Superior attention to detail
▪ Critical thinking and problem-solving abilities
▪ Proficiency in Microsoft Office Suite
▪ Excellent interpersonal and communication skills
▪ Ability to interpret regulatory guidelines and apply them effectively
▪ Strong organizational and documentation skills