Counterparty Onboarding Focal Point - Analyst

Counterparty Onboarding Focal Point - Analyst

  • Location

    London, United Kingdom

  • Sector:

    Compliance & Financial Crime

  • Job type:


  • Contact:

    Tyler Sullivan

  • Job ref:


  • Published:

    about 2 years ago

  • Expiry date:


  • Consultant:


Purpose and Accountabilities:

·         Prioritise, request and manage counterparty onboarding  requests

·         Troubleshoot issues and challenges preventing effective and efficient onboarding which are generate in the initial request process and help and drive continuous improvement and innovation initiatives as part of the overall counterparty onboarding lifecycle management


Main Accountabilities

·         Act as business rep/focalpoint for issues or feedback and current status of request

·         Explain how E2E process works to business, and set expectations on timescales

·         Explain what documents are required and why

·         Coordinate priorities for each business

·         Chase to ensure resolution of issues or delayed requests e.g. Counterparties not sending documentation in a timely manner

·         Check Counterparty (single counterparty list / MDN / GT) doesn’t exist

·         Determine request type (create or update or other) enter requests in MDN (ensuring that the appropriate regulatory classification EMIR, MIFIDII, REMIT etc. is provided and chased if not for financial Counterparties)

·         Attach documents in sharepoint or appropriate agreed document repository

·         Build business understanding and context and their requests

·         Translate/or arrange to translate documents received from Counterparty

·         Attend business meetings to present onboarding end to end performance

·         Tax: Validate Tax number and request Tax approval if required (to be determined after discussions with Tax)

·         Request all relevant documentation including required Financial Crime documentation (as per document collection matrix), Credit and where necessary conduct Counterparty outreach (data privacy reqs understanding)

·         Credit: Latest audited financials

·         Tax: collect relevant tax information upon onboarding and at relevant review times

·         Coordinate with KYC: on their checklist for Initial Due Diligence / Enhanced Due Diligence

·         Coordinate with FO Data: MDN request / W8 & W9 US tax forms / banking forms



1.       No direct reports 

2.       The role is a key interface for Business to request counterparty onboarding or modifications – but also expected to troubleshoot and help to continuous improve the process and act as liaison between compliance and the business

Skills & Requirements:

·         Relevant experience in counterparty onboarding process for T&S

·         Excellent communication skills and customer facing experience/Mindset

  • Ability to collaborate with business and functional stakeholders to enhance their understanding of the T&S onboarding process
  • Ability to liaise between the business and the FCT as well as all functional partner across the E2E process (including, FOD Credit, settlements, tax etc..)
  • Ability to raise onboarding requests
  • Ability to research publicly available information and undertake counterparty outreach to obtain required documentation for Counterparty Due Diligence
  • Ability to keep business and functional stakeholders aware of onboarding status and to manage their expectations
  • Ability escalate issues and/or complaints as required
  • Ability to pull together reports for their onboarding requests to support business prioritisation

·         Deep understanding of the MDN tool and the E2E onboarding process

·         Command of the documents involved in counterparty onboarding, and be able to educate others where appropriate

·         Deep understanding of the tax verification requirements for counterparty onboarding

·         Skill to understand the MI reporting to be able to compare against relevant SLA status

·         Mindset to continuous improve the process efficiency and work effectively with the KYC team to ensure maximum effectiveness and compliance with the onboarding process.