Selection Procedure for CDD

Analyst, Stentorian Bank

Group 09- Sadia Afrin, Zeba Noshin, Md. Sarwar Iqbal
Analysis of the job
The candidate shall be a part of the Customer Due Diligence (CDD) Team at the Stentorian Bank. The CDD team is
an independent part of the Bank, which works with both corporate and private customers. Candidates shall be
responsible to make sure there lies no discrepancies in the information provided by both existing as well as new
clients. They have to make sure that the information being fed to SCL Bank by the clients is accurate and without
any form of identity inaccuracy. They have to ensure that the bank stays within legal and ethical boundaries while
engaging in business activities and that compliance is maintained at every level. The Analyst is responsible for
assessing the extent to which the client exposes SCL Bank to a range of risks, including money laundering, terrorist
financing and such and making sure that these can be avoided, by proper monitoring of the information provided by
the clients.

Compliance of the information with the government and regulatory laws and looking into whether the wants of the
clients can be provided within the companys policies without using any unethical measures. All these need to be
done for all clients both during on boarding and at the time of periodic review. Existing customers need to be
assessed as to having accurate, updated data and risk assessment needs to be done periodically.
Responsibilities and Requirements
- The candidate must have a proper understanding of financial due diligence and local tax and regulatory
environment. Although detailed semantics will be learnt on the job, the candidates are expected to have a
basic understanding of what the job is and what it deals with. Adequate understanding of money
laundering is expected from the job aspirants and will be looked at in detail in the selection process.

- Have to work with senior management to establish procedures and policies for the company if required.

- Analysts must stay on top of new laws and banking regulations, and advise management on any changes
that may be necessary to comply with new requirements.

- The candidates have to create and implement staff training programs in order to ensure compliance at
every level and for making sure the other employees do not put the company at risk through ignorance.

- Help the bank minimize risk by reviewing our advertising, product and service communications,
personnel policies, notices and disclosures for compliance.
Responsibilities and Requirements
- Assist in preparation of other projects or activities as the need may arise.

- Initiating Client Contact either directly or through personnel in direct contact with the clients, in order to
collect necessary documentation.

- Mapping client needs and assessing how much of it the company can actually fulfill without risk.

- Complete CDD related documentation and ensure completeness of information for clients that is current
and valid, as required before approval.

- Ensure Review Checklist fulfilled and complete the CDD review as per companys CDD Procedure and
Bangladesh Bank and Bangladesh Financial Intelligence Unit standards.

- Managing effective line of communication with the internal stakeholders.

- Assist in preparation of prequalification and tender documentation.

Selection Procedure
As evident from the job requirements, a CDD analyst at Stentorian Bank has to have extensive knowledge
on all the imminent threats and the regulations the Bank has to comply with. They have to ensure that the
customers provide accurate information and that the customers or the other employees do not put the Bank
at risk or any sort of threat. Since the key to fulfilling all the aspects of the job stem from the need for
accurate and updated information, an analyst at the Bank has to have an extensive knowledge on all the
threats and red flags that might affect the Bank, the analyst must be proactive in being up to date about
everything going on in the Bank, with the customers and the regulations the Bank has to comply with.

Acquiring information is therefore the number one priority for a CDD analyst and to be able to do that, they
have to be exceptional with their communication and persuasive enough to get information from people.
People have to get a sense of confidence from our analysts in order to give them information and that can
only be instilled if the analyst has an in depth knowledge of the subject matter and be charismatic enough
to let people know that he/she knows what they are doing and hence instill trust in the customers minds.
Selection Procedure
Based on the fact that knowledge about the job, being on top of current events and communication are the
key aspects of the job, Stentorian Bank Limited has decided to go for a Knowledge Intensive, Topic
Based Group Discussion to select the perfect candidate. Not only are they a good way to compare and
contrast candidates, they also demonstrate how each individual works as part of a team, and how they
perform under pressure. Group Discussions also give a brief insight into the candidates knowledge, attitude
and personality traits which will help us ensure that we are choosing the candidate who will be the perfect
fit for the Bank.

Firstly, we will be asking each of the candidates to introduce themselves, set some ground rules for the
discussion and then start by asking each of them about what they know about Customer Due Diligence and
the related topics that the job deals with. This will give us an idea about the candidates and how well
prepared for the discussion. Following that, we will be providing the candidates with two or three cases
relating to the job and ask them to discuss on the topics. There will not be just one correct answer to the
cases but it will be open-ended questions that gives room for creativity and allows the candidates to give the
moderators a look into their thought process and showcase their ideas and solutions to the problem at hand.
Selection Procedure
For instance, we could give them a case on Money Laundering and ask them what they would have
done differently to detect the red flags early and to avoid such an issue. This will provide them room
to come up with solutions and give the moderators an idea into the knowledge and problem-solving
attributes of the candidates.

During the whole process, the moderators will be grading the candidates based on standardized and
assigned criteria the Bank is looking for in the candidates, like creativity, quality of solutions,
knowledge about the subject matter, communication prowess, etc. The moderators will also be
asking follow up questions to the candidates based on their discussion and help shy candidates get
their ideas out and to participate by encouraging them. Moreover, the moderators shall make sure
everyone stays respectful towards each other and not let just one or two people to dominate the
whole discussion, ensuring everyones ideas are heard and they get an equal opportunity of
showcasing themselves.
Selection/Judging Criteria
As mentioned earlier, the moderators will be constantly scoring the candidates based on some set
criteria which will make sure they are the perfect fit for the job. They will be using a Graphic
Rating Scale Method to do the grading by identifying the score that best describes the candidates
level of performance for each trait. There shall be three moderators conducting the discussion, with
each grading the candidates on a scale of 1 to 5 based on these criteria and the final score of the
candidate will be the average of the three moderators scores, to ensure that there exists no bias
towards any candidate. The candidates with the highest scores shall be selected and be up for
further interviews as the Bank sees fit, or they could be hired if anyone stands out of all the others.

The Candidates shall be scored on the following criteria, on a scale of 1 to 5, with 1 being a poor or
unsatisfactory score, 3 being an average score and 5 being an exceptional rating. The criteria
selected are set according to the job and how important they are for a CDD analyst to have them.
These will provide the Bank with assurance that the candidate selected through this process will
hopefully excel at the job and is the perfect fit for the company.
Selection/Judging Criteria
The traits the candidates will be scored on are given below:

- Knowledge about Customer Due Diligence - Creativity/Ability to Think Differently

- Knowledge about Money Laundering - Openness to Other Peoples Ideas
- Organizational Know-How - Charisma
- Communication Prowess - Ability to Involve Others in the Discussion
- Reasoning Ability - Respectful and Positive Assertiveness
- Quality of Solutions - Versatility and Awareness