IPB U.S. Offshore Legal Entity Subject Matter Expert-19005297
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
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About the Business
International Personal Bank U.S. (IPB U.S.) is a segment of Citi’s U.S. Retail Bank that provides U.S.-based wealth management services to clients around the world. IPB U.S. offers its clients access to brokerage products and services as well as traditional banking products and services through three legal vehicles and offices located in the U.S. and several Latin American countries.
As a member of the IPB U.S.
In-Business Anti Money Laundering (AML) team, the IPB U.S. Offshore Legal
Entity Subject Matter Expert is responsible for collaborating with senior
colleagues to deliver a best in class client experience to new and existing
strategic and emerging bank relationships.
The ideal candidate would have a a legal background with experience in
Know Your Customer (KYC)/Anti Money Laundering (AML), and Sanctions in legal
structure registered offshore, including international private investment
companies (PICs) with complex ownership Structures and Trusts.
This individual will support the Account
Opening process in providing one on one guidance to Relationship Managers on
these types of offshore legal entities, as well as continuously develop and
create the appropriate tools to embed knowledge across the business.
the day-to–day requests for prospect and existing IPB U.S. clients including:
of legal ownership structure documentation, including PICs and Trusts, such as
Entity Ownership Layers, Authorized Signers, Beneficial Owners and FinCEN
Customer Due Diligence Regulation Requirements
concepts such as nominee services, power of attorney, bearer shares, trust and
- Recognize and
analyze Corporate documentation of complex Private Investment Legal Vehicle
legal structures registered offshore (i.e. BVI, Cayman Islands, Uruguay),
including but not limited to partnerships, foundations, Dutch CVs and Trusts,
in order to identify the Ultimate Beneficial Owner (UBO) and possible risks for
- Perform enhanced
due diligence reviews for Registered Agents that may have potentially negative
news, and partner up with CPB and ACRM to maintain list of approved Corporate
appropriate KYC profile for each account member, detect AML Red Flags, and
provide legal and AML guidance to the business complexities of these structures
- Provide guidance on
complex legal structures at the time of new Legal Entity Customer onboarding
and ongoing periodic reviews, and develop appropriate tools on Corroborating
the Wealth of higher risk clients primarily residing in Latin America,
including local tax, corporate and legal documentation
- Partner with
legal, product, market, risk management and sales to onboard new mandates and
communications and guidance documentation on topics related to process changes
resulting from regulatory and system updates
- Serve as an
AML/KYC Offshore Legal Entities (Private Investment Company (PICs and Trusts)
and subject matter expert to support the IPB U.S. Business
- Guide and coach
members of the team, Relationship Managers (RMs), Sales Assistants, KYC Makers,
KYC Checkers, Quality Assurance (QAs), and Investment Principals in the PIC
& Trust complexities, as needed
- Understand Source
of Wealth Standard Policy requirements and develop a repository of guidance
tools of possible corroboration documents by Latin American Countries where
- Create and maintain
guidance on Private Investment Company legal structure documentation by
Registered Country (i.e. BVI, Panama, Cayman Islands) and complex legal
- Maintain training
decks and related procedures related to Legal Structures, Source of Wealth,
Beneficial Ownership, and FinCEN CDD regulations, and provide ongoing education
to increase knowledge and proficiency in Offshore Pics & Trusts and Source
of Wealth Corroboration
- Deliver Training
and coaching sessions to all staff on the subjects of Legal Structures,
Beneficial Ownership, FinCEN CDD regulations, Red Flags, and Source of Wealth
Corroboration, as needed.
- Collaborate with
the Products area to identify opportunities to add third party service
providers to the CPB Approved Third-Party Institution List.
- Maintain deep
knowledge of internal forms that are required for PICs and Trust such as
Account Opening Checklist, Trustee Certification, Corporate Resolution,
Certificate of Beneficial Ownership, Legal Opinion, and any other materials
related to PICs & Trusts.
- Bachelor’s degree.
- Ability to perform hands on reviews of complex legal structure cases
(primarily, PICs and Trusts registered offshore)
- Ability to read, write, and speak fluently in Spanish and English
- Strong technical procedural writing and training development skills
- Strong communication skills with a
service orientated approach to providing guidance.
- Ability to build effective partnership with SMEs at
- Ability to manage
support teams, as necessary
- Proven success
working within a fast paced dynamic team environment, managing multiple
- Driven and
- Experience with banking and financial institutions is a plus
- Demonstrated understanding of BSA AML/KYC
Regulations (knowledge of Bank Secrecy Act and the US Patriot Act preferred)
EEO Statement: Citi is an equal opportunity and affirmative action employer. Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity Pay Transparency: Citi won’t discriminate against anyone for discussing pay, but those with access to pay data in their work can’t disclose it unless responding to complaints/investigations or legal requirements.