Associate, Due Diligence

About CLS:

CLS is the trusted party at the centre of the global FX ecosystem. Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective. Trillions of dollars’ worth of currency flows through our systems each day. Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use. CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market. Our ambition to make a positive difference starts with our people. Our values underpin everything that we do at CLS and define our working environment: Pivotal purpose Trusted guardian Targeted innovation Facilitate connections Delivering excellence Inclusive culture Job information: Functional title – Associate, Operations, Due Diligence Department - Onboarding and Due Diligence Corporate level - Associate Report to – Natalia Mellino Location – New Jersey Expected full-time salary range between $81,000 - $93,000 + variable compensation + 401(k) match + benefits.

Note: Disclosure as required by NY Pay Transparency Law of the expected salary compensation range for this role.

Overview of the Role: The Associate Due Diligence role is a pivotal position within our Operations department, designed to ensure that we maintain the highest standards of compliance and risk management. This role is particularly suited for candidates with a background in Financial Services, Banking, or Financial Market Infrastructure firms. The successful candidate will play a critical role in safeguarding our organization by conducting thorough due diligence on clients, thereby mitigating potential risks associated with onboarding new business relationships. As an Associate in this role, you will be responsible for executing detailed assessments, collecting and analyzing key information. Your insights will contribute to the formulation of strategic recommendations that align with our organizational objectives. In addition, you will collaborate closely with cross-functional teams to ensure adherence to the Due diligence team’s requirements and internal policies. Key tasks will include the completion of questionnaires, attestations, preparation of Member Notices, performing extensive research, preparing comprehensive reports, and presenting findings to senior management. You will also be involved in enhancing our due diligence processes by identifying areas for improvement and implementing best practices. This dynamic position offers an excellent opportunity to develop your expertise in client risk assessment while contributing to the overall success of the organization. What you will be doing: Due Diligence Manage the process of completing due diligence questionnaires and maintain a repository of due diligence questions and answers for CLS’s suite of services covering Settlement, Processing and Data for questionnaires received from members, participants and business partners and its prospects. Ensure the highest level of accuracy and completeness, meeting the required deadlines. Collaborate with all key departments including Client Engagement, Product, Risk, Operations, IT, Legal, and Compliance, to complete the questionnaire(s) and update the inventory of due diligence questions. Prepare detailed reports and presentations for senior management review. Maintain accurate and up-to-date client records in accordance with policies. Identify potential areas of risk and recommend mitigation strategies. Familiarize oneself with CLS’s product suite to have the understanding and the background required to undertake and support the completion of the due diligence questions. Execute the due diligence process, including completion of incoming questionnaires containing various control questions related to CLS’s BCP, Disaster Recovery, Security, AML, etc. policies and procedures, for all CLS products. Upload and update all due diligence requests including setting up tags in the Due Diligence platform (Ombud) for each one of these. Update the Due Diligence procedure annually to include the latest tasks and processes. Update and maintain the Due Diligence tracker with the latest information pertaining to each of the requests. In periods of absence, be the dedicated cover for the other Due Diligence team members. Contribute to the continuous improvement of due diligence practices. Attestations and Member Notices

: Manage the annual self-attestation programs on behalf of the CLS Technology, Performance and Capacity (P&C), Business Continuity (BCP), and Financial Crime Compliance (FCC) divisions. Issue Member Notices on behalf of internal departments to the CLS Settlement Membership and CLSNet Participants. Manage the communication for the annual volume test process for the Top 12 banks by volume, to ensure that each bank, and that their individual internal systems, can withstand peak volumes as determined by the P&C division. Complete any incoming Central Bank Attestations in a clear, accurate and acceptable manner by carrying out the appropriate checks, such as spelling and grammar, in addition to ensuring attention to detail prior to submitting for Subject Matter Expert review and management check. Submit completed Central Bank Attestations for management checks in a timely manner by providing sufficient time for these to be checked. Complete the Central Bank Attestation procedure review annually. Produce Central Bank Attestation reporting for Management on a weekly basis. What we’re looking for in Due Diligence: Proven experience in client due diligence or a related field within Financial Services. Clear communication skills, both verbally and in writing, with the desire and ability to quickly learn and understand the basics of the products that CLS offers, and the role that CLS plays in the market. Prioritize, multi-task, and adopt an agile and flexible approach to working ensuring that all deadlines are achieved across multiple strands of work. Detail-oriented mindset with a commitment to accuracy and thoroughness. Establish strong working relationships with a diverse range of stakeholders, both externally and within the CLS organization, by fostering collaboration. For Due Diligence, provide clients with access to the Inventory/References in the Due Diligence platform (Ombud). Job qualifications: Knowledge of banking and financial markets is an advantage. Meticulous attention to detail is essential. Client-facing experience is required. Experience in an operations function in the Financial Services sector is an asset Strong written and verbal communication skills. Proficiency in Microsoft Office products: Outlook, Word, Excel, and PowerPoint. Effective meeting management skills. Internal and external communication and presentation skills to wide variety of stakeholders. Ability to synthesize information and present it to management. Strong organizational skills and the ability to work in a structured manner are necessary. A collaborative team player. Enthusiasm for managing multiple projects simultaneously. Ability to perform well under pressure and meet tight deadlines. Skill in influencing stakeholders to achieve agreed milestones. Take ownership of issues and drive them to resolution. Think strategically and provide and implement ideas for continuous improvement. Prior due diligence experience is a plus. Project experience is an advantage. Our commitment to employees: At CLS, we celebrate inclusion and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including: Holiday - UK/Asia: 25 holiday days and 3 ‘life days’ (in addition to bank holidays). US: 23 holiday days. 2 paid volunteer days so that you can actively support causes within your community that are important to you. Generous parental leave policies to ensure you can enjoy valuable time with your family. Parental transition coaching programmes and support services. Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others. Employee Networks (including our Women’s Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about inclusivity. Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don’t. Active support of flexible working for all employees where possible. Monthly ‘Heads Down Days’ with no meetings across the whole company. Generous non-contributory pension provision for UK/Asia employees, and 401K match from CLS for US employees. Private medical insurance and dental coverage. Social events that give you opportunities to meet new people and broaden your network across the organisation. Annual flu vaccinations. Discounts and savings and cashback across a wide range of categories including health and retail for UK employees. Discounted Gym membership – Complete Body Gym Discount/Sweat equity program for US employees. All employees have access to Discover – our comprehensive learning platform with 1000+ courses from LinkedIn Learning. Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS.