Team Leader EDD

Key Responsibilities

• Strategy and Planning
• Ensuring adherence to process and policy guidelines by EDD Officers.
• Submitting timely reports with key findings and gaps.
• Engagement with relevant stakeholders to foster a collaborative environment and ensure redressal of observations.
• Providing trends and patterns for key risk areas to supervisors for effective risk mitigation.
• Policies, Processes & Procedures
• Monitoring early warning signals for Portfolio Health.
• Competition benchmarking of the process for the product(s).
• Recommending changes to processes based on field findings, local nuances, or market feedback.
• Engaging with Third Party Vendors for timely processing of samples and process improvements.
• Providing training, capacity building, and feedback to the line team and vendors.
• Customer Onboarding/KYC
• Perform initial due diligence on new and existing customers, ensuring all necessary documentation is collected and verified.
• Verification
• Verify customer identities (name, address, date of birth) using government-issued IDs.
• Identify Beneficial Ownership (UBO) for legal entities.
• Risk Assessment
• Evaluate customer activities to determine potential risks to the organization.
• Assign risk ratings and identify high-risk clients requiring Enhanced Due Diligence (EDD).
• Screening
• Screen customer documents and profiles for abnormalities to be picked up for further investigation and verification.
• Investigation and Documentation
• Document all due diligence findings and research in the system to maintain audit trails for future references.
• Customer Coordination
• Call out customers to understand their actual profile and to ensure thorough EDD.
• Collect requisite documents from customers wherever required.
• Vendor Coordination
• Coordinate with vendors for reports, etc.
• Stakeholder Coordination
• Raise alerts to branches and monitor them for closure within defined TAT.
• MIS
• Maintain a tracker of all cases to be shared with management for review.

Key Performance Indicators (KPIs)

• EDD case quality and Compliance Rate: Case completion in full adherence to the process and Policy of the bank.
• Turnaround Time (TAT) for EDD cases: Average time taken to complete EDD reviews within the defined timeline.
• Risk Efficacy: Ensuring that high-risk cases are correctly identified and escalated for EDD.
• Timely Reporting: Timeliness and quality of reports along with closure rate of Observations.
• Stakeholder Engagement: Collaboration with multiple stakeholders for timely resolution of issues.
• Team Management and Development: Team Productivity, Capacity Building, and Coaching of team members.

People Management

• Maintaining and reviewing monthly performance of team members.
• Ability to work effectively with diverse populations.
• Ability to supervise and train employees, including organizing, prioritizing, and scheduling work assignments.
• Grooming team members for taking higher responsibility.
• Managing effective liaisoning with all stakeholders on a regular basis.
• Driving and participating in projects/initiatives aligning with organizational goals.

Operating Network

• Internal: Transaction Monitoring Team, Liability Product Management (LPM), Branch Control Unit (BCU), Central Data Analysis Group (CDAG), Technology Team, Branch Leadership.
• External: Customers, Service Providers/ Vendors.