KYC Onboarding Analyst

Position:       KYC Onboarding Analyst                   
Reports to:    Financial Crime and Onboarding Manager
Location:    London
 
About MillTech
MillTech provides advanced FX and cash management solutions to increase market access, reduce costs and automate manual workflows.
 
With a focus on automation, integration and connectivity, we have pioneered an independent risk management and liquidity solution for fund managers, institutions and global corporates, which is purpose-built to deliver best execution at scale.
 
Our end-to-end operational workflow enables automation, standardisation and cost transparency on all FX transactions and cash movements. A highly secure platform centralises all client FX and cash activities to enhance oversight whilst increasing control, all at no additional costs. It offers quick onboarding routes, multi-bank best execution and hedging management services.
 
Headquartered in London, the world’s largest FX hub, MillTech provides services to clients in the United Kingdom, United States, Canada, Switzerland, Belgium, Denmark, Ireland, Luxembourg, Norway and Liechtenstein. MillTech is authorised and regulated by the UK’s Financial Conduct Authority (FCA FRN 911636) and registered with the USA’s National Futures Association (NFA). 
 
Overview
MillTech is seeking a Junior KYC Onboarding Analysts to join our growing Financial Crime and Onboarding team. This is an excellent opportunity to launch your compliance career in a fast-paced FinTech environment. You’ll conduct KYC checks, support client onboarding, and help ensure our processes meet the highest regulatory standards, with full training provided.
 
This role is perfect for you if you are an enthusiastic, self-motivated and inquisitive team player who is driven by a strong sense of responsibility and possesses strong communication and problem-solving skills. A collaborative mindset and a professional approach to managing client onboarding and ongoing monitoring in a regulated environment, are essential for success. 
 
Your mission
Reporting to the Financial Crime and Onboarding Manager, you will be responsible for delivering an efficient, effective, and compliant onboarding function. Strong communication skills and adherence to compliance standards and organisational protocols will be critical to success in this role, as you’ll be engaging closely with other departments, including business development and customer success.
 
You will also be responsible for the ongoing monitoring of client relationships via periodic KYC reviews and trigger events, including AML and adverse media screening of clients and their payments.   
 
You will also be involved with the review, and where necessary the enhancement, of existing policies, procedures, systems and controls related to all aspects of client onboarding.    
  
Your responsibilities in this role will include: 
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Conduct pre onboarding Know Your Customer (KYC), Client Due Diligence and where necessary Enhanced Due Diligence, on all prospective professional clients, including PEP, Sanctions and Adverse media screening;
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Ownership of the AML/KYC, Onboarding and KYC refresh process from the point of introduction to prospective clients by front office teams;
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Obtain, review and verify client documentation to ensure procedural, legal and regulatory compliance;  
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Conduct and assist the team where necessary in the unwrapping of complex client ownership structures and complex fund structures in various jurisdictions;
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Identify the level of risk associated with fund structures and apply the appropriate level of due diligence in line with the firm’s procedures;
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Conduct and prepare client onboarding risk scoring reviews and assessments, in preparation for sign off and approval;
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Ensure that onboarding processes remain appropriate and up to date in line with procedures and the firms regulatory requirements; 
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Provide regular MI/KPIs on the performance and effectiveness of the onboarding function to the Onboarding and Financial Crime Manager and Head of Compliance;
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Provide day to day guidance and support to the onboarding team members and wider firm including Sales and Customer Success teams;
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Responsible for reporting any unusual or suspicious activity during onboarding or ongoing monitoring, to the firms Head of Compliance and Money Laundering Reporting Officer (MLRO); 
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Identify any significant gaps or quality issues in any areas of the onboarding and ongoing monitoring processes, making recommendations for improvements;
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Horizon scanning; looking for future regulatory developments applicable to our business; and
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Any other ad-hoc tasks and responsibilities set.
 
Required Skills: 
We value each MillTech employee equally and respect all that they have to offer, including their passion, creativity, determination and friendship. Specifically, for this role, we are looking for a: 
 
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Strong communication and analytical skills; 
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Exhibit sound judgment to detect, solve, or escalate problems efficiently and effectively;
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A proactive initiative taker who seeks to improve current processes;
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A high degree of personal honesty and integrity;
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Attention to detail;
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Excellent spoken and written English;
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Good computer skills including Microsoft Office (Word, Excel etc).
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General awareness and a foundational understanding of the UK regulatory environment with regard to financial crime prevention – FCA, UK money laundering regulations, UK bribery Act, JMLSG guidelines;  
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General understanding of the Global regulatory environment (FATF, EMIR/MiFID, FATCA and CRS knowledge will be an asset); 
 
Desirable:
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Minimum 1-2 years experience in the AML/KYC and corporate onboarding function of a financial services firm, ideally within Investment services firm;
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General knowledge and understanding in respect of a wide variety of fund structures and client types including SPVs, Partnerships, Trusts, UCITs, Financial Institutions, PLC’s and Corporates.
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Previous experience in relation to EDD/PEP (high Risk) on boarding is desired;
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Experience in the ongoing monitoring of client relationships both at periodic review and via trigger events;
 
We are a fast growth FinTech so a growth mindset and the ability to roll up sleeves and respond to changing circumstances with agility will be critical. 
What we offer in return:
Our commitment is to help you flourish in this role, through support with your professional development, opportunities to be involved in key projects, and exposure to challenges that you may not be offered in a larger organisation. We will provide:
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A competitive salary with annual reviews;
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25 days’ paid annual leave plus an additional day per year of service;
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Excellent staff development and training opportunities;
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Flexible working arrangements including remote working;
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Medical insurance;
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Dental insurance;
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EV Scheme and Cycle to work scheme;
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Enhanced maternity and paternity leave;
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1 day off for charity work per quarter and many other benefits!
 
How to apply?
At MillTech we believe that diversity and inclusion are essential for fostering innovation and building a strong, supportive work environment. We are committed to embedding the best equality and diversity practices into all our activities, making us an inclusive, welcoming, and exciting place to work. We would welcome candidates from all backgrounds and experiences.
 
We would love to hear from you if you think that you’re a good fit for this role. To apply you should upload your CV. One of the team will then be in touch with you to discuss the next steps.