Private Banking Customer Onboarding

UBS-centric KYC onboarding flow for private-banking customers. Covers identification, beneficial owner determination, source-of-wealth collection, risk rating, screening, senior-management approval, account activation, and post-activation refresh scheduling.
Steps
8
Standard refs
0
Catalog version
0.14
Standards basis
ISA, PCAOB AS, IFRS, IIA GIAS (public standards)

Procedures

  1. Identification of Contracting Partnerproc_identification

    Verify the identity of the customer establishing the relationship.

  2. Beneficial Owner Determinationproc_beneficial_owner

    Identify and verify the ultimate beneficial owner(s) of the assets.

  3. Source of Wealth Collectionproc_source_of_wealth

    Collect and verify source-of-wealth for a private-banking relationship.

  4. Risk Ratingproc_risk_rating

    Compute inherent + residual risk for the relationship.

  5. Screeningproc_screening

    Sanctions, PEP, and adverse media screening.

  6. Senior Management Approvalproc_senior_management_approval

    EDD sign-off by senior management.

  7. Account Activationproc_account_activation

    Activate the account once all prerequisites cleared.

  8. Post-activation Refresh Scheduleproc_refresh_schedule

    Schedule pKYC review triggers per customer risk rating.

UBS-centric KYC onboarding flow for private-banking customers. Covers identification, beneficial owner determination, source-of-wealth collection, risk rating, screening, senior-management approval, account activation, and post-activation refresh scheduling.