Hello,
I was wondering if there are any rumors about layoffs in KYC? I sort of wonder if my manager might have hinted at that recently. I am based in the U.S. Although, since KYC is the first line of defense, it seems to me that it would be more likely that our jobs are safe. At the same time, more recent hires seem to be based in India
There has been big expansions in KYC in EMEA in Manchester and Wroclaw. However my understanding is new roles have recently been created in Lake Mary, Florida in KYC.
There is no “KYC” team. All of line one in all businesses are responsible for knowing the customer. Now I understand the dude bragging that he games the HR training.
LOBs are the first line of defense and knowing your customer is a primary part of that.
You actually train on this every year.
I'm not in KYC but I can see why I understand the reason for thinking that. To really "know you customer" would have to help in making sure we are not taking on customers who could be money launderers or financing te------ts. That's a critical part of any financial organization. But at this point, I'm not sure what executive management is thinking beyond cut, cut, cut.
There are a ton of open reqs for KYC. In India.
I never heard of KYC being the first line the defense? So seems like there’s a disconnect there to think it’s the first line of defense.
KYC is the back office and there will be terminations.