Due Diligence Associate | Hybrid

The Due Diligence Associate renders assistance to the Due Diligence Head in administering and establishing measures and controls of the Company in compliance with national and local government laws and regulations, among them, those of the Bangko Sentral ng Pilipinas (BSP) and policies of Convera (formerly Western Union Business Solutions) together with the Compliance Department.

• Providing general AMLA and/or Compliance advisory and guidance to PETNET Forex Solutions Department.
• Disseminating new and updated laws, BSP and AMLA regulations and WUBS Convera policies.
• Ensuring strict compliance of the Forex Solutions department and its employees with all applicable AML/CTF laws and regulations, Know-Your-Customer (KYC) procedures, record keeping of the Proof of Payment (POPs) documents, and reporting of Covered Transactions (CTRs) and Suspicious Transactions (STRs) of the Forex Department. Conducting/coordinating AMLA and Compliance introductory and refresher training for the Forex Department employees.
• Conducting initial reviews and enhanced due diligence of all Forex Department Client applications, especially those classified as high risk entities, prior to their endorsement for approval as registered Forex Department clients.
• Conducting initial review and clearance of Forex Department’s transaction requirements(i.e, invoice for first time transactions, and additional documents for more than $1M transactions). Applying learned AML/CTF principles to the processing of AML/CTF-related transactions approvals,
• Helping to identify the risks that the Company may face in relation to money-laundering and terrorism financing.
• Coordinating with necessary departments in cases of AMLC and/or WUBSBS Fraud Risk Management (FRM) requests for Suspicious and Transaction Analysis reports.
• Assisting in the conduct of investigations of PETNET Forex Solutions department subject of alleged fraud or Compliance violation findings by CONVERA Compliance/International.
• Reporting to Forex Solutions Department any significant findings on non compliance to KYC, reporting of CTRs and STRs, and others.
• Communicate corrective actions to be undertaken in respect of PETNET Forex Solutions employees for non-observance of applicable laws, regulations, and policies of among others, the BSP, AMLC, and WUBS.
• Assisting other departments of the Company in matters relating to Compliance (e.g., filling out documents relating to AML/Counter Terrorism to open bank accounts).

• Education. Bachelor’s Degree Graduate of Business Administration or Banking and Finance, or equivalent;
• Experience. Fresh graduate;
• Skills. Time management skills, sound judgment, keen sense of urgency and personal integrity, knowledge of Data Privacy, and regulations in the financial institutions;
• Working Setup. Hybrid, at least 1-2x a week in the HQ located in Legaspi Village, Makati; and
• Working Schedule. Monday to Friday.

• You'll receive comprehensive HMO and life insurance coverage, ensuring your well-being and peace of mind. But that's just the beginning!
• Embrace the Future of Work with our hybrid working setup, granting you the flexibility to achieve a perfect work-life balance. No more mundane routines – expect a dynamic environment that fosters growth and innovation!
• A Thriving Culture: Prepare to be immersed in a collaborative and friendly culture, where teamwork and camaraderie flourish. Your colleagues will quickly become your second family, making every workday enjoyable and fulfilling.

• Our Purpose: To empower and uplift Filipinos by providing access and choices for financial inclusion
• Our Mission: We put the customer first by delivering innovative, reliable, and secure solutions to all our stakeholders and through digital and human touchpoints.
• Our Vision: A nation where financial services are inclusive and borderless
• Industry Leadership: As a subsidiary of Union Bank of the Philippines, PETNET is backed by a strong financial institution that leads the way in delivering innovative solutions and revolutionizing the banking industry.
• Professional Growth: We foster a culture of continuous learning and personal development. By joining our team, you will have access to training programs, mentorship opportunities, and a supportive work environment that encourages growth and progression.
• Team Collaboration: At PETNET, we believe in the power of collaboration and teamwork. You will have the opportunity to work alongside talented professionals, exchange ideas, and contribute to meaningful projects that shape the future of financial services.
• Impactful Work: Our services play a crucial role in facilitating global transactions, cross-border payments, and financial inclusivity. By joining us, you will make a tangible impact on individuals, businesses, and communities, both locally and globally.