Faruq Sonaiya
Quality Assurance/Data Quality Mgr at BANK OF AFRICA UNITED KINGDOM Plc- Claim this Profile
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Bio
Credentials
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Certified Six Sigma Green Belt (CSSGB™)
Certified Six Sigma Green Belt (CSSGB™)Aug, 2020- Nov, 2024 -
Six Sigma Yellow Belt
6SIGMAstudy - The global certification body for six sigma certificationsJul, 2020- Nov, 2024 -
Scrum Fundamentals Certified (SFC)
SCRUMstudy - Accreditation Body for Scrum and AgileJun, 2020- Nov, 2024
Experience
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BANK OF AFRICA UNITED KINGDOM Plc
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United Kingdom
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Banking
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100 - 200 Employee
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Quality Assurance/Data Quality Mgr
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Aug 2022 - Present
Ensuring all KYC/AML activity that is being Quality Controlled is executed in line with regulatory requirements and BBI plc’s AML & Sanctions policies Understand the Global Client Lifecycle Management CLM London procedure of the Corporate Client and Financial Institutions (FI) segment Perform assigned tasks as part of on-boarding, regular and event-driven review of Corporate and FI Clients Collect and verify information and documentation obtained from reliable/approved public sources or provided by the Client Owner(s) / Business Unit(s) Where valid reasons exist to deviate from KYC standard documentation ensure the rationale is appropriately documented and approved, clearly stating identified risks and mitigating factors Manage case load and take ownership of client cases by tracking with stakeholders to ensure cases complete in a timely manner Complete ‘gap analyses of cases and ensure that information is up to date or repaired according to current KYC standards Liaise with Client Owner(s) and KYC Advisory to clarify, investigate, escalate and resolve issues as they arise Managing regulatory and internal deadlines relating to renewal dates of cases and prioritise accordingly Perform QC review on all ongoing PEP/Sanctions screening, ensuring alerts are escalated or discounted in accordance with Santander policy Provide written and verbal feedback/training to the on-boarding and refresh analysts Respond to any ad-hoc queries and function as a subject matter expert on KYC/AML related issues, providing guidance to others where required Develops and maintains procedural guidelines and manuals for KYC data management on IT system. Primary responsibility for all aspects of KYC data entry & data modification. Recognizes and responds to critical data issues identified during the processes of entering, aggregating, analysing, and reporting data. Work with Front office teams to obtain necessary information for Client on-Boarding & record modifications in System.
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National Bank of Kuwait
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Kuwait
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Banking
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700 & Above Employee
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CDD / AML/ Financial Crime/ Payment Screening Lead
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Jun 2021 - May 2022
Providing first-level KYC SME guidance to the Operations Team Managing Safe watch payment screening and PEP screening project Working with the KYC Data management team to understand business requirements Providing general support to the KYC function on all Data issues and manage data quality Ensuring that Management information (M.I) is kept up to date and complied where necessary. Identifying any potential KYC AML risks in the Bank and report the findings to the Financial Crime Compliance Manager Conducting reviews of new prospects and existing clients, assessing the risk profile and KYC documentation, resolving any issues found by liaising with the Front Office, Line Management and Senior Management where necessary. Managing BAU workflows, including the review of new client proposals, account opening, periodic reviews, and changes to accounts, providing Quality Checking oversight. Supporting the Head of Financial Crime Compliance in the management of all financial crime compliance issues and assist with any other regulatory tasks as might reasonably be requested by the Financial Crime Compliance Manager. Assisting in the review and update of department procedures and drive system and process improvements Assisting the business as and when required on financial crime related queries, by providing advice and guidance, outlining options and recommending solutions as appropriate Mentoring of more junior analysts within the team Assist with any other regulatory tasks or ad hoc projects as might reasonably be requested by MLRO.
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Link Group (LNK)
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Australia
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Financial Services
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700 & Above Employee
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CDD/QA /QC/Financial Crime
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Jul 2019 - Jun 2021
Providing first-level KYC SME guidance to the Operations Team Working with the KYC Data management team to understand business requirements Providing general support to the KYC function on all Data issues and manage data quality Ensuring that Management information (M.I) is kept up to date and complied where necessary. Identifying any potential KYC AML risks in the Bank and report the findings to the Financial Crime Compliance Manager Conducting reviews of new prospects and existing clients, assessing the risk profile and KYC documentation, resolving any issues found by liaising with the Front Office, Line Management and Senior Management where necessary. Managing BAU workflows, including the review of new client proposals, account opening, periodic reviews and changes to accounts, providing Quality Checking oversight. Supporting the Head of Financial Crime Compliance in the management of all financial crime compliance issues and assist with any other regulatory tasks as might reasonably be requested by the Financial Crime Compliance Manager. Assisting in the review and update of department procedures and drive system and process improvements Assisting the business as and when required on financial crime related queries, by providing advice and guidance, outlining options and recommending solutions as appropriate Mentoring of more junior analysts within the team Assist with any other regulatory tasks or ad hoc projects as might reasonably be requested by Line Management or the MLRO.
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Santander UK
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United Kingdom
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Banking
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700 & Above Employee
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Quality Control - Transaction Monitoring/ SAR’s /Financial Crime
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Jan 2019 - Jul 2019
Mandate: Engaged by AML Transaction Monitoring Operation Lead, to review and monitor Regulatory issues relevant to the KYC Information, Implement Transaction Monitoring and Financial Crime systems to ensure maintenance of a transparent audit trail, financial control, and compliance. Stakeholder Management ·Communicate with internal and external entities and management to ensure findings are incorporated in all aspects of the operation. ·Worked with stakeholders to understand business context and technology impact; and prioritise requirements to meet business objectives. ·Ensured key milestones were met and the expectations of clients are managed throughout the integration process. Analysis & Risk Assessment ·Performed overall risk assessment of client due diligence files relating to financial crimes, country, and reputational risk. Analysed and evaluated information and documents for KYC profiles remediation and AML gap assessments for High-risk customers. ·Preformed transaction analysis on customers account checking for any suspicious transactions to report to SAR’s ·Regularly reviewed and screened clients to identify Politically Exposed Persons (PEPs) and businesses related to PEPs (such as a business where one of the other Directors is PEP) and ensure appropriate risk classification. ·Reviewed all relevant AML/KYC Regulatory requirements for all clients while also analysing any transaction that appears unusual based on the customer’s profile. Achievements: ·Worked with Anti Financial Crime (AFC) to establish a clear understanding of the interpretation of client Policy and Operating Procedures and risk appetite to increase productivity, prevent scope creep and curtail project budgets.ansaction that appears unusual based on the customer’s profile.
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EFG Private Bank
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United Kingdom
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Banking
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300 - 400 Employee
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Financial Crime/SAR's - Regulatory Reporting
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Mar 2018 - Dec 2018
Mandate: Hired by the Project Director Financial Crime & Business Development to review the Compliance Practice within the Private Bank in the UK & Europe. With my expertise in financial crime, I was to review the private client of the bank for external regulators to audit. Stakeholder Management ·Liaise with various stakeholders including head of Operations and Legal departments as necessary regarding standard review process. ·Design & structure the report for the weekly meeting for internal auditors which was presented to the external regulatory bodies and auditors. ·Engaged in the identification and analysis of the keys stakeholders in order to provide a clearer understanding of business requirements. Risk & Financial Crime Analysis ·Provided KYC advisory services as an individual SME to the private banking operations in the EMEA region. ·Performed due diligence on High-Net-worth Individuals as part of the the overall process of the project. ·Investigated transactions on accounts to determine any suspicion activities and reporting to the appropriate authority as required. Achievements: ·Trained all KYC/AML staff on all aspects of standard review functions and developed in-depth knowledge of private client remediation process in line with current regulations.
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Deutsche Bank
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Germany
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Financial Services
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700 & Above Employee
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Change/Case Manager (KYC/AML)
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Aug 2016 - Feb 2018
Mandate: Engage by DB KYC Regional Director to review the corresponding Banking & Trade Finance Global Policy legacy system, Global KYC Key Operating Standards (KOS) and all applicable local variance to meet current KYC/AML regulations and update the internal KYC/AML review process. Stakeholder Management: ·Liaised with internal teams to discuss AML/KYC requirements and convey KYC approval status & perform Quality Assurance and 4 eye check. ·Confirmed and follow up with any escalations needing appropriate approval of compliance team. ·Effectively communicated and resolved deficiencies contained in records with KYC Officers. ·Provided first-level KYC SME guidance to the Operations Team. Analysis & Risk Assessment ·Manage detailed definition of system requirements, including configuration and testing approach. ·Assessed financial crime and compliance risk (Fraud, AML, Sanctions and Anti Bribery & Corruption), in the context of client risk appetite. Achievements: ·Produced a catalogue of change process for reviewing entities and create updated Global Policy, Global KYC Key Operating Standards (KOS) in line with current regulations. ·Design work streams for reviewing Corresponding Banking, MSB & Trade Finance entities and managed the teams on day-to-day bases.
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Accenture
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Ireland
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Business Consulting and Services
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700 & Above Employee
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KYC/AML/QC Analyst (Regulatory Compliance)
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Sep 2014 - Sep 2016
Mandate: Engaged by the Project Lead the Financial Services Business to help expand the Compliance Practice footprint within the Banking & Capital Markets sector for the UK & Europe. Given my expertise in AML/KYC Risk I was given responsibility for developing new bushiness within existing clients and tasked with leading their Audits for their premier clients (Santander). Delivery Responsibility: ·Reviewed all relevant AML/KYC Regulatory requirements for all clients while also analysing any transaction that appears unusual based on the customer’s profile. ·Assisted with on-going monitoring of counter parties, for example investigating alerts from automated and semi-automated screening tools. ·Ensured that policies, procedures and standards of conduct are communicated, understood and appropriately implemented within the office. ·Reviewed procedures for both on-boarding and remediation of existing clients to ensure that documentations are complete and AML/KYC compliant ·Conduct KYC/AML due diligence procedures including screening of new and existing clients while ensuring that KYC/AML requirements are effectively met always. ·Assessment of PEPs and the risk associated to PEPs and their connected/associated persons. ·Investigate potential customer, Swift message, payment, trade finance and transaction related alerts for potential matches against watch lists to ensure compliance with sanctions laws. Achievements: ·Developed an internal training package on AML/KYC Due Diligence for junior Compliance analysts which increased the teams’ efficiency whilst decreasing errors and increasing client satisfaction. (A key metric of Accenture’s mandate to being a trusted advisor to all their clients)
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Education
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2009 - 2010
City, University of London
MSC Information management -
1996 - 2000
University of Ilorin
Bachelor of Science (BSc), Business Administration
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