Corporate Jargon Jamboree
Dan Goncharoff
thegonch at GMAIL.COM
Fri Mar 11 17:34:21 UTC 2011
For those who don't know: KYC stands for "Know Your Customer" and refers to
the regulatory requirements surrounding accounts opened for customers. In
short, financial institutions have to verify to whom their customer accounts
belong, and that the funds flowing into the account come from a legitimate
source.
(In the past I have taken part in conversations about the propriety of
taking in a suitcase full of cash for a client.)
DanG
On Fri, Mar 11, 2011 at 12:21 PM, Martin Kaminer
<martin.kaminer at gmail.com>wrote:
> ---------------------- Information from the mail header
> -----------------------
> Sender: American Dialect Society <ADS-L at LISTSERV.UGA.EDU>
> Poster: Martin Kaminer <martin.kaminer at GMAIL.COM>
> Subject: Corporate Jargon Jamboree
>
> -------------------------------------------------------------------------------
>
> Sorry for not parsing out individual terms, phrases, etc., I felt the whole
> was more remarkable (astounding really) than any of the parts. Just so
> muc=
> h
> here, none of it yielding easily to comprehension.
>
> TX
>
> MK
>
> ------------ Forwarded message ------------
> From: *Keith Bogen SPHR*
> Date: Mar 8, 2011
> Subject: [newjerseynetworkers] Remediation Manager in NYC
> To: Keith Bogen SPHR
>
> CIG Executive Staffing is working with a prestigious Company located in NY
> for *Remediation Manager* for a Full time Job.
>
> * *
>
> *Resource Type *Permanent
>
>
>
> *Functional Job Title* AMERICAS Remediation Manager - KYC Utility
> Services
>
> *Location* New York
>
> BA/BSc
>
>
>
> *Overview*
>
> =95 Overview of the business area
>
> =95 Current/future projects
>
> =95 Broad objectives of the role
>
>
>
> Project provides a single, global onboarding and account maintenance
> servic=
> e
> that uses service company operating principles and a consistent service
> proposition to deliver high-quality client service, robust client
> diligence=
> ,
> and process excellence and standardisation across each onboarding function
> from one integrated global team. We support more than 40 sites, from
> regional hubs in London, Paris, Dubai, New York, Mexico and Hong Kong,
> backed by 3 service centres in India and Malaysia.
>
>
>
> *Our services include:*
>
> =95 Client Facing Services =96 Client Liaison and Client
> Documentation Negotiation Services
>
> =95 Client Due Diligence Services =96 KYC and Credit Services
>
> =95 Data Management Services =96 ERDS, Account Maintenance and
> =
> SSI
>
> =95 Change Mgt =96 A Global team supporting COBAM projects.
>
>
>
> Project has been tasked with creating a KYC utility to provide a consistent
> approach for KYC across the 87 countries of the Group for Global Banking
> an=
> d
> Markets clients and potentially top end CMB as part of the overall Topaz
> Project.
>
>
>
> The jobholder will have ultimate responsibility for the overall success of
> managing the remediation process from an AMERICAS KYC perspective.
>
>
>
> This will include
>
> =95 Creating the AMERICAS remediation team required to support
> this initiative. This will be initially ring fenced from the existing COBAM
> KYC teams.
>
> =95 Implementation of remediation across the AMERICAS during
> ne=
> xt
> 4 years, initially focusing in the USA in 2011. Given technical challenges
> associated with GCOS workflow implementation the AMERICAS remediation will
> need to be implemented tactically in 2011, pending GCOS (COBAM=92s
> onboardi=
> ng
> workflow system) deployment.
>
> =95 Assisting the KYC Utility Management in establishing a new
> offshore service centre in AMERICAS and ensuring appropriate remediation
> processes are offshored, although it is recognised during 2011 this will
> resourced via temporary staff in the USA.
>
> =95 Transition KYC processes from remediation to Run the Bank.
>
>
>
> It is expected that the existing Project KYC team will grow from the
> curren=
> t
> 200 staff (onshore / offshore) to 800-1,000 staff, with approx 70% offshore
> in the Project service centres. From an AMERICAS perspective the new team
> will grow to approx 70 staff in 2011, and over 170 by 2016, with approx
> 60-70% offshore. The remediation team will in 2011 be circ 20 -40 staff
> onshore, although in future this number could reduce with the establishment
> of an offshore centre for the Americas. The main focus of this role will
> b=
> e
> the management of the onshore resources, although the success of the team
> will be achieved through onshore and offshore teams working together.
>
>
>
> The jobholder will be responsible for the delivery of high standards of
> client service, at the same time ensuring that all internal (eg Risk) and
> external (eg Compliance) standards requirements are met in full, utilising
> =
> a
> combination of onshore and offshore resource managed as a single global
> Project team.
>
>
>
> Critical external interfaces are with Project stakeholders in AMERICAS
> across Global Banking and Markets, CMB and Compliance.
>
>
>
> *Purpose of the Role* Create and manage the remediation team and
> process within the AMERICAS KYC Utility for Project
>
>
>
> *Responsible For*
>
> * *
>
> =95 Creating the remediation team within the AMERICAS KYC
> Utili=
> ty
>
> =95 Creating the team required to support this initiative.
>
> =95 Creating and managing the remediation team within the
> AMERI=
> CAS
> KYC utility, through a mixture of onshore and offshore resources. Offshore
> teams will be managed by the Peoject Head of Offshore Services.
>
> =95 Participate in the implementation of the GCOS KYC workflow
> system.
>
> =95 In association with the Training Manager, implementation of
> the training and development framework to manage the intake of new hires.
>
>
>
> Managing the remediation process within the AMERICAS KYC Utility
>
> =95 Develop an approach to remediate the existing population,
> using where appropriate existing documents and profiles. The approach for
> remediation should be agreed with KYC Utility Management, Compliance and
> th=
> e
> Business.
>
> =95 Preparing the KYC profiles in accordance with the Group
> Policy, obtaining documents as required from the client / relationship
> manager and undertaking the necessary due diligence checks.
>
> =95 Implementing a Quality Analytical Review process to review
> each profile to ensure accuracy of the work.
>
> =95 To be the =93Face=94 of KYC with AMERICS in all matters
> rel=
> ating
> to KYC remediation.
>
> =95 Ensure appropriate escalation policies exist and are
> follow=
> ed.
>
> =95 Work collectively with offshore management, develop and
> maintain a motivated and professionally trained staff, ensuring appropriate
> capacity panning, adherence to and improvement in performance and quality
> standards and appropriate career development
>
> =95 Chair regular meetings with the business and compliance to
> facilitate good communications and resolve KYC remediation issues within
> th=
> e
> organisation for the varying business areas which are supported by COBAM.
>
>
>
> *Planning *
>
> =95 In association with KYC Utility Management ensure there is
> =
> the
> mechanism and controls to monitor the remediation stream within the overall
> project from an AMERICAS perspective. Remove roadblocks to enable the
> effective delivery.
>
> =95 Actively Manage expense control procedures for AMERICS KYC
> Utility, identifying and implementing cost savings and
> administrative/internal controls
>
> * *
>
> *People Management*
>
> =95 Recruit the remediation team within the utility (circ 20-40
> staff onshore, and assist in future transfer of some of these roles
> offshore).
>
> =95 Create and develop a culture of meritocracy, high
> performan=
> ce
> standards and high achievement amongst our people
>
> =95 Once hired, create development plans for key individuals in
> remediation team within AMERICAS KYC Utility, and succession plans.
>
> =95 Provide leadership, support, guidance and coaching to the
> remediation team within AMERICAS KYC Utility management team.
>
> =95 Ensure that the AMERICAS KYC Utility is the best place to
> w=
> ork
> as evidenced through future GPS scores.
>
> * *
>
> *Communications*
>
> =95 Ensure key stakeholders are kept informed of the progress
> a=
> nd
> challenges within the AMERICAS KYC Utility build out and ongoing operation.
>
> =95 Ensure AMERICAS Head of KYC Utility, Global Head of
> Remediation and Global Head of KYC Utility is kept fully informed of the
> project status, build out and escalating issues where appropriate.
>
>
>
> *Control*
>
> Understand, follow and demonstrate compliance with all relevant internal
> an=
> d
> external rules, regulations and procedures that apply to the conduct of the
> business in which you are involved, specifically Internal Controls and any
> Compliance policy including, inter alia, the Group Compliance policy.
>
>
>
> Maintain HSBC Internal Control standards, including the timely
> implementation of internal and external audit points together with any
> issues raised by external regulators.
>
>
>
> Be aware of the Operational Risk scenario associated with your role and act
> in a manner that takes account of operational risk considerations.
>
>
>
> *Major Challenges *
>
> =95 Establishing a structure and process to ensure the
> remediat=
> ion
> is achieved according to project timetables.
>
> =95 Working effectively with key stakeholders using strong
> influencing skills to ensure mutually satisfactory resolution of key issues
> and the respective responsibilities are understood and discharged.
>
> =95 The role requires highly effective project management
> techniques
>
> =95 Working in a pressurized, time-sensitive environment
>
>
>
> *Essential Experience*
>
> * *
>
> *Business*
>
> =95 Strong leadership and matrix management skills
>
> =95 Proven ability to prioritise competing demands
>
> =95 Exceptional organisational, planning and management skills
>
> =95 Ability to build relationships by communicating,
> influencin=
> g
> and negotiating effectively with business heads, senior managers,
> consultants, technical experts across the whole department and business
> users
>
> =95 Proven business and operational experience
>
> =95 Extensive experience in the Finance and Banking industry
> environment (e.g, fund administrator, brokerage house, custodian,
> investmen=
> t
> bank etc.) together with business project management experience
>
>
>
> *Technical*
>
> =95 Experience in risk management field, and proven ability to
> support the development of the business activities while robustly applying
> risk management disciplines and controls.
>
> =95 Good knowledge of regulatory trends and developments
>
> =95 AML qualification and or post graduate Compliance degree
> is=
> an
> advantage
>
>
>
> *Essential Skills / Competencies *
>
> =95 Strong leadership and management ability
>
> =95 Strong interpersonal skills and able to build and maintain
> global relationships
>
> =95 Outstanding written / verbal communication and presentation
> skills
>
> =95 Planning, time management and resource management skills
>
> =95 Positive =91can do=92 attitude
>
> =95 Experience of working in a highly-matrixed environment, and
> accustomed to bridging the gap between disparate organisations and cultures
>
> =95 Strong analytical skills with experience of capacity
> planni=
> ng
> and effective use of MI for performance management.
>
> =95 Strong capacity to assimilate other stakeholders
> perspectiv=
> es
> and fast learning abilities.
>
> =95 Pro-active and business orientation with proven ability to
> prioritise and manage conflicting demands and ability to assess stakeholder
> needs to improve customer experience and showing resilience under pressure
> and providing best in class solutions.
>
> BA/BSc
>
>
>
>
>
> *Submit your resume tailored to each particular position.*
>
> *A well-written synopsis =97 with industry keywords =97 will help you
> stand=
> out.
> *
>
>
>
> Looking forward to receiving your resume!
>
> *Also, you know anyone who is available, looking and has the above
> experience, please let me know.*
>
> *Apply Now!*
>
> *Please send me your resume ASAP with the following details.*
>
> 1. Full name:-
> 2. Contact Numbers:-
> 3. Email ID:
> 4. Work Authorization:-
> 5. Current location:
> 6. Expecting Rate:-
> 7. Word Document Resume:-
> 8. Available Date &Time for interview:
> 9. Available Date &Time for Project:
>
> Best regards,
>
> Melissa
>
> *Melissa Kirby*
>
> ------------------------------------------------------------
> The American Dialect Society - http://www.americandialect.org
>
------------------------------------------------------------
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