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Customer Due Diligence Specialist, Associate 1

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

Our promise to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you. Join us.

Job Description

The successful candidate will work in the Customer Due Diligence (CDD) team and will report to the Head of Customer Due Diligence. Main task will be to ensure an adequate collection, maintenance, storage and review of the customer related AML/KYC records in a First Line of Defense spirit. This process includes the holistic review of customer profiles within strict deadlines, policies and procedures.

The CDD Team sources documentation primarily via the internal Client Service and Client Relationship teams. On a case by case basis such input may need to be augmented by documents collected directly from our clients or from the public domain. The complete document package is used to prepare an electronic AML/KYC profile that meets the local and corporation standards. This process includes creation of client reference data, solicitation of documentation to satisfy the prevailing AML/KYC requirements and conducting due diligence and media-related searches. The CDD Team ensures that all AML/KYC records are reviewed and approved by a centralised Quality Control Team incl. the coverage of any follow-up in the case of (initial) comments or rejections due to gaps in the stored package.


Execute adequate 1st line of defense activities related to KYC in close cooperation with a centralised Quality Control team that works remote as a Center of Excellence

Collect and maintain customer documentation that meets the local and global standards of the corporation and create entity profiles that also cover data points like the products provided, source of wealth & expected activity etc.

Ensure the review of all KYC Records for accuracy, completeness, validity, compliance with AML, CIP (Customer Identification Process) and sponsorship requirements; communicate required actions to staff

Record the data and all reviews within the technical KYC platform ensuring complete data is maintained

Monitor reports generated from centralised Quality Control team to identify inconsistencies, error analysis and trends

Support the management of priority items received from multiple teams across different locations

Support the resolution of escalated issues from various stakeholders

Support the rollout of the most recent AML/KYC-policy via procedures, related controls and mitigants and ensure a sufficient training to the involved stakeholders (Client Service, Client Relationship Management etc.)

Follow promptly and accurately the related local procedures, workflows and job-aids

Liaise with teams locally and across regions to facilitate knowledge sharing

Support the identification and execution of process improvements and provide Subject Matter Expert support on key process and technology initiatives

Proper execution of the local tasks and oversight of any delegated tasks

Act as KYC-gate-keeper for existing and new business and perform an adequate escalation and management information for the local and delegated activities via KYC Monitoring & Surveillance reporting including risk metrics (KPI/KRI)



Very strong business English skills is mandatory. Fluency in French, German and/or Italian would be an advantage

Profound experience regarding the different legal forms for companies & funds (focus: Luxembourg) and the handling of the related customer files (data & document collection, storage and validation)

Experience in a Bank, Financial Institution or at a Fund Administrator ideally in the Client OnBoarding area (Operations, Client Service or Implementation); Economic Degree or equivalent would be an advantage

IT skills: very knowledgeable with Microsoft Office software products with a focus on Excel (Word and Access would be an advantage)

Excellent organisational skills, reliable and with a high attention to details

Good resilience to stress and efficiency in prioritizing activities and work

Flexibility in working hours

Client focused with excellent communication skills and a high degree of confidentiality

Job Opening ID

State Street Job ID: 169180


Location: Luxembourg

Closing Statement

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