IPB U.S. Offshore Legal Entity Subject Matter Expert

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IPB U.S. Offshore Legal Entity Subject Matter Expert-19005297

About Citi

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.

Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

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.

  • Manage the day-to–day requests for prospect and existing IPB U.S. clients including:
    • Review 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
    • Interpret concepts such as nominee services, power of attorney, bearer shares, trust and layering
    • 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 the Business
    • 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 providers
    • Determining 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 resolve issues
  • Create 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 customers reside
  • Create and maintain guidance on Private Investment Company legal structure documentation by Registered Country (i.e. BVI, Panama, Cayman Islands) and complex legal structures
  • 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.  
  • Legal background preferred
  • 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 all levels
  • Ability to manage support teams, as necessary
  • Proven success working within a fast paced dynamic team environment, managing multiple priorities concurrently
  • Driven and results focus
  • 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.

12 March 2019
Location: United States Flevoland Miami
Work type:
Full time
Banking and Financial Services
PLEASE! No enquiries from Recruitment Agencies or Headhunters.

Only direct applications will be considered.

This career opportunity is no longer open.
Please search for current vacancies here.

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