How to answer this Ethics and Integrity interview question about Client Onboarding Compliance for Entry-Level Commercial Banking?

What steps would you take to onboard a new SME client while ensuring compliance with European banking regulations?

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Commercial Banking

Ethics and Integrity

Asked at

ING Bank

Difficulty :

Easy

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Explanation

This question assesses your knowledge of compliance procedures and ability to implement them during onboarding. Recruiters are looking for your understanding of KYC, AML, and GDPR regulations in the European context. Common pitfalls include failing to address specific compliance requirements or providing vague answers. A strong answer demonstrates a clear understanding of regulatory steps and their importance. Preparation involves reviewing European banking compliance guidelines.

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Answer Example

I would start by conducting a detailed KYC process, verifying the client’s identity, business registration, and financial history. Additionally, I would ensure adherence to GDPR by securing client consent for data handling and perform AML checks using sanction screening tools. For example, I identified a potential risk during onboarding when a client’s transaction patterns raised red flags, leading to further investigation and ensuring compliance with European AML regulations.

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