Customer Due Diligence Officer - Onboarding Specialist
Rothschildandco · Milan Santa Maria Beltrade, Italy
About Us
Rothschild & Co is a leading global financial services group with seven generations of family control and a history of over 200 years at the centre of the world's financial markets.
Our expertise, intellectual capital and global network enable us to provide a distinct perspective that makes a meaningful difference to our clients, communities and planet.
We have 4,600 talented specialists on the ground in over 40 countries around the world, enabling us to deliver a unique global perspective across four market-leading business divisions – Global Advisory, Wealth Management, Asset Management and Five Arrows.
As a family-controlled business built on relationships, we place a huge emphasis on our people and finding the right colleagues to take our business forward.
Rothschild & Co is committed to an inclusive and supportive environment where different perspectives are valued. We are focused on the attraction and recruitment, development and retention and progression of high calibre talent to ensure we and our clients benefit from the value of difference.
Job Description: Junior Onboarding Specialist - Customer Due DiligenceLocation: Milan
Department: Operations
Contract: Full-Time | Permanent | CBA: banking, 3rd Professional Area | Base Salary Range: 38k-42k
Overview of Role
We're looking for a Junior Onboarding Specialist with 2 to 3 years of previous working experience in banks and/or financial institutions.
The candidate will support the Operations Onboarding team for the end-to-end management of the onboarding process for private and institutional Wealth Management clients, ensuring compliance with Know Your Customer (KYC) requirements and the Counter-Terrorist Financing (CFT) framework. This includes performing appropriate first level controls at client onboarding stage and during periodic reviews, in line with applicable local and international regulations.The candidate will also guarantee compliance with applicable regulations (MiFID II, FATCA/CRS) and high operational quality standards.The role combines client onboarding, KYC activities, Middle Office support and stakeholder coordination, offering exposure to the broader client lifecycle within a Wealth Management environment.The ideal candidate is motivated, curious, analytical and highly organised, with strong attention to detail and an interest in financial services, client onboarding and KYC.Key ResponsibilitiesKYC analysis and validation- Collect, verify and analyse identification documents and supporting evidence for prospects as part of the onboarding process, and perform reputational checks.
- Assess client structures, including individuals, legal entities and their beneficial owners.
- Monitor decisions made by the Client Acceptance and Monitoring Committee (CAC) and the remediation of missing documents.
- Support account-opening activities by reviewing client documentation for completeness, consistency and accuracy, and by following up on missing or incomplete information.
- Maintain accurate client information and records within internal systems, ensuring a complete and appropriate documentation trail.
- Collect and review information and supporting documentation relating to Source of Wealth (SoW) and Source of Funds (SoF), where required.
- Identify inconsistencies, potential red flags or onboarding issues and escalate them to the appropriate senior colleagues or control functions.
Risk assessment- Identify high-risk clients, including Politically Exposed Persons (PEPs), sensitive jurisdictions and complex activities, for enhanced analysis by the Compliance teams.
- Ensure that onboarding files are compliant, considering the calculated risk level.
Ongoing monitoring- Contribute to periodic reviews of client files in collaboration with the Relationship Management and Compliance teams, including the analysis of review forms and updated documentation, as well as control and validation through the client CRM tool.
- Handle CFT alerts generated on incoming and outgoing banking and financial transactions initiated by clients, including wire transfers and securities transfers, from analysis through to supporting documentation requests and resolution.
- Support client data maintenance and documentation updates throughout the client lifecycle, including changes to existing client accounts.
- Monitor outstanding onboarding and review cases and proactively follow up on pending activities to support timely completion.
Regulatory compliance- Apply internal policies and regulatory requirements, including FATCA, CRS and sanctions-related obligations.
- Monitor regulatory developments and contribute to the continuous improvement of procedures.
- Identify recurring operational issues and contribute to improvements in onboarding processes, procedures and workflows.
Internal collaboration- Work closely with the Relationship Management & Operations.
- Help raise awareness among Relationship Management teams of their KYC obligations.
- Participate in thematic committees and ad hoc cross-functional assignments relating to client file reviews.
- Coordinate, as appropriate, with Client Advisors / Front Office, Compliance / AML, Tax Compliance, Operations / Middle Office, Legal and other stakeholders involved in the client lifecycle.
Requirements- 2–3 years of experience in similar roles (in the banking sector/wealth management client onboarding or KYC)
- Minimum knowledge of MiFID II, KYC, FATCA/CRS regulations
- Proficiency in screening tools such as World-Check and Dow Jones
- Analytical mindset with a risk-based approach
- Rigour, attention to detail and analytical thinking
- Integrity and adherence to procedures
- Ability to manage complex situations and make well-reasoned decisions.
- Autonomy in handling requests
- Flexibility, agility and teamwork
- Responsiveness and reliability
- Strong organisational skills and ability to track multiple onboarding requests and outstanding items.
- Curiosity and a genuine interest in financial services, client onboarding and KYC.
- Experience with HNWI/UHNWI clients
- Experience managing complex structures (holdings, trusts, international setups)
- Italian (mother tongue) - English (fluent) - French (preferable)