Poor overall performance of these teams, cost, and the testing new systems to automate these processes. Just if dept of many, but this is a high priority. Anyone in those depts have additional info on this? Hearing layoffs will begin in earnest in Q4.
7 replies (most recent on top)
Odd the new location has not been revealed yet.
Just wondering if anything more has been 'heard' about this. I'm in AML and wondering if I should start searching. It's a tough market out there though.
The issue of the departments being poorly run is a management problem. If there are agents not working then workflow is a problem and HR should allow management to coach them out which is not happening. The bank will always need KYC because of regulatory issues.
Anti money laundry. It makes sure criminal activity is not funneling through the bank. Look up KYC (know your customer), it may help you understand.
AML? What does that stand for?
The AML folks are run by retired federal agent who tries to run AML like the government. Even thought Citi has a robust work from home policy, this person wants butts in seats all the time. there is a literal army of AML people in the ft lauderdale LATAM office who sit around all day gossiping or walk around the parking lot.
Good riddance. Those departments are horrendously run.